February 2, 2015Exchange Rates:-Exchange Rate-High value of the dollar-Low value of the dollar-Devaluation-CountertradingLegal Concerns Overseas:-There’s no global system of laws.-Laws may be inconsistent-U.S. business must follow U.S. laws while conducting global businesses.Trade Protectionism:-Tariffs*Protective*Revenue-Important Quota-EmbargoWorld Trade Organization:-General Agreement on Tariffs and Trade (GATT)-World Trade Organization (WTO)Common MarketsNAFTA:-North America Free Trade AgreementNAFTA’s objectives are:Eliminate trade barriers and facilitate cross-border movement of goods and services.Promote conditions of fair competition.Increase investment opportunities.Provide effective protection and enforcement of intellectual property rights.Establish a framework for further regional trade cooperation.Improve working conditions in North America.Central American Free Trade AgreementFuture of Global Trade:With over 1.3 billion people, China has transformed the world economic map. Many multinationals invest heavily in China.India has seen huge growth in information technology, pharmaceuticals and biotechnology.Russia is a large oil producing country with many multinationals interested in developing there.Brazil is expected to be one of the wealthier economies by 2030.Outsourcing:-Study foreign language-Learn about foreign cultures-Take global business