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How does the world market affect the US market?

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Introduction

How does the world market affect US market? Marketing is an economic activity affected by the economic environment in which it is conducted. International marketing has a twofold economic environment: world economy and economy of individual countries. It is reasonable to speak of the world economy because the nations of the world do relate to each other economically. Nations also relate to each other politically, diplomatically, military, and culturally. Many of these other elements of international relations are intertwined with economic considerations. More recently, economic considerations have played a role in regional cooperative movements such as the European Union. ...read more.

Middle

Therefore, it is needed to examine the world economy to see how it aids and constrains international marketing. The volume of world trade in 1998 was $6.6 trillion, a figure larger than the gross national product (GNP) of every nation in the world except the United States and four times the GNP of Latin America. This is one indication of international trade's importance as part of world economic activity. Not only is it large in volume, but it is also one of the fastest-growing areas of economic activity. ...read more.

Conclusion

Some nations are also much more reliant on trade than others. The United States is the world's leading imported and exporter, but such trade is only a little over 25% of its GNP. The figures are much higher for other developed countries, for example, 55% for Germany, 106% for the Netherlands, and 120% for Belgium. The export contribution of the nation influences that of the firm. It is not surprising, therefore, that firms from heavy exporting countries tend to be more internationally oriented that those from other countries. For example, the average number manufacturers in the United States are less apt to be an exporter than is the average Belgian or Dutch firm. ...read more.

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