On Freedom and International Marketing, Part 2: Linkages between Two Dimensions

This is one of the published series on the linkages between freedom and international marketing.

International marketing contains the freedom of almost unlimited growth potential. Activities confined to domestic borders may well run into limits of expansion. International market opportunities relax these limits quickly. Instead of restrictions, the international marketing paradigm encourages the stripping away of restraints; instead of limitations, there is the encounter of opportunity.

Freedom also means not being forced to do something one does not want to do. There are economic migration pressures that force people to move from their rural homes into urban areas or from their developing countries into industrialized ones. Industrialized nations, in turn, speak about immigration pressure. For both sides, little if any freedom is involved here. Most individuals who do the moving would much rather stay home but cannot afford to do so due to economic exigencies. The recipient countries might not want to welcome the migrants but do so in response to political and humanitarian pressures. International marketing may have been part of what triggered some of these migrations, but it also can be instrumental in stemming the tide. It can provide the economic opportunity for individuals at home so that they need not migrate. Thus, it lets individuals become productive contributors to the global economy free from pressures to shift locations.

When the long-standing rivalry between socialism and market orientation was resolved, market forces and the recognition of demand and supply directly affected human rights and the extent of freedom. With all humility and gratefulness we can conclude: Markets were right! In country after country, market forces have demonstrated typically greater efficiency and effectiveness in their ability to satisfy the needs of people.

International marketing has been instrumental in stimulating these newly emerging market forces. In spite of complaints about the slowness of change, the insufficiency of wealth redistribution, and the inequities inherent in societal upheavals, a large majority of participants in market-oriented changes are now better off than they were before. Without the transition provided by international marketing, these changes would not have come about that swiftly.

On Freedom and International Marketing, Part 1: Dimensions of Freedom

This is one of the published series on the linkages between freedom and international marketing.

You may ask what freedom has to do with international marketing. Freedom is about options. If there is no alternative, there is no freedom. A true alternative provides the opportunity to make a decision, to exercise virtue. In the blaze of the klieg lights, it is easy to make the ‘‘right’’ decision. That’s not an exercise in virtue, because real alternatives are effectively removed. The true selection among alternatives takes place in the darkness of night when nobody is looking.

The focus and aim of international marketing is on crossing borders. The goal is to provide more than one choice for customers, letting them pick from a selection of options in order to maximize their satisfaction. International marketing does so in all comers of the globe, the glamorous ones as well as in the small and remote ones where the efforts are not seen by others. By operating both in the limelight and also well outside of it, international marketing offers the freedom to exercise virtue both to the seller and the buyer—be it in decisions of supplying or purchasing, pricing or selecting.

Another key dimension of freedom is not to confine, allowing people to go outside of the box. As a concept, freedom knows no international boundaries. But national borders usually are the box where business and government find their limits. Such borders are a mere point of transition for international marketing. The discipline thrives on understanding of how to successfully cross national borders, on coping with the differences once the crossing is done, and on profitably reconciling any conflicts.

France Calls for a ‘Rebalancing’ of the World Economy

BY TYREL SCHLOTE

Last week French Finance Minister Michel Sapin spoke out against the United States’ dollar’s standing as the world’s reserve currency. Upset with a $9 billion fine leveled by the U.S. against French bank BNP Paribas for helping nations like Sudan and Cuba avoid U.S. sanctions, Sapin called for a “rebalancing” of currencies used to make global payments. Translation: The dollar has to go.

The Financial Times reported that it’s been nearly 50 years since Valéry Giscard d’Estaing, then France’s finance minister, spoke out against the dollar’s position as the reserve currency, calling it an “exorbitant privilege.” Since then, the dollar has been attacked and besmirched time and time again. As John Connally, treasury secretary for Richard Nixon, once said about the dollar, it is “our currency, but your problem.” Indeed, the world is getting sick of the problem.

No one can doubt the U.S. dollar’s dominance in the world today. After Sapin’s comments, financial writers quickly pointed out that no currencies currently exist that can compete with the dollar. Thus they have no choice but to continue to use the dollar to finance international transactions. “They may not like it,” the Financial Times reported, “but it is not clear what France and other critics can do to alter the status quo.”

As U.S. foreign policy continues to alienate its allies, nations beginning to establish regional alliances to protect themselves. This applies not only militarily, but also financially. One of the most recent regional economic alliances is between Brazil, Russia, India, China and South Africa (BRICS). Investment group Goldman Sachs speculated back in 2003 that by 2050, these five nations would be wealthier than most of the current major economic powers.

Read the whole article at Trumpet.com

How Emerging Markets Will Turn The World Economy on Its Head (Infographic)

Despite weak economic growth in the United States and Western Europe over the past several years, the world economy is on course for strong growth over the next 40 years. In fact, projections indicate that global GDP could rise from $72 trillion in 2010 to $380 trillion by 2050. This infographic examines which regions are expected to drive that growth, and why emerging economies will have the biggest role to play.

 

Read more http://prafulla.net/interesting-contents/world-interesting-contents/how-emerging-markets-will-turn-the-world-economy-on-its-head-infographic/