Business is Good

Business is Good

The article involves a combination of economic challenges facing global and domestic business and competing in global markets. One of the key elements of the article is that companies can no longer simply focus on the United States market and expect to remain competitive. Today’s business is becoming more and more about competing in the global marketplace. In the article we learn that international trade has increased significantly. One reason for this is because it is easier to trade between different countries. The internet has allowed easy access to view items from all over the world; and when you find what you are looking for you can order it with international shipping. Another important topic in the article was the competitiveness between American companies and foreign companies. Foreign companies, especially China, make it harder for businesses to compete. China has a very large work force and doesn’t have to pay its workers much. This means that foreign companies can make more money because American companies have to pay minimum wage if their factories are in the U.S. Another point in the article was that American companies are starting to increase their sales in foreign countries. Earnings from foreign operations of U.S. companies have increased steadily from $60 billion in 1994 to an estimated record earnings of $200 billion in 2004. Although there is some anti-American sentiment in certain parts of the world, most people outside the United States are “Buying American” and U.S. companies continue to increase revenues and earnings. American companies are also starting to invest their money into foreign markets.

Not a day goes by when business owners aren’t commenting that the world is becoming a smaller place. However, the exact opposite may be a more accurate statement. The world is actually becoming a larger place in that businesses of all sizes and in most industries can no longer simply focus on the United States market and expect to...