Global Competitiveness Essays -- Economics Business Essays

Global CompetitivenessAs the world becomes a smaller place, economies are shifting away from internal economies to global economies. Robert Reich, Ira Magaziner, and Michael gatekeeper each offer a different view of how a mickle remains competitive in this global economy. Reich stresses the difference between the Statesn- possess corporations and American combat. Magaziner highlights the growing need of innovation and the avoidance of national complacency. Porter focuses on his diamond of national competitiveness. While eddy is an American owned connectionthe high societys headquarters and upper management all run for out of Americathe majority of the companys factories and production lies foreign in South America and Asia. Similarly, while Toyota is a Japanese owned company, it has increasingly manufactured its cars within US borders. Whirlpool is an American company but does non benefit American competitiveness. Reich maintains that foreign-owned businesses that benefit national competitiveness nigh are those that commit their engine of competitiveness to the host country. Whirlpool may be American run, but Toyotas factories in America create American jobs and train an American workforce, both commodities in national competitiveness. Reich further emphasizes the importance of a skilled work force A nations most important competitive asset is the skills and education of its work forceandNational policies should reward any global corporation that invests in the American work force. Stressing the skilled work force, as Magaziner has noticed, is not just an American necessity.Magaziner gives two examples of countries who take national pride in training the work force Korea and Singapore. Bo... ...ompanies cannot compete, Tonelson gives two credible reasons for trade barriers. First, babe industries will have a chance to develop and one sidereal day be able to compete on a global arena. Second, b otherwiseation industries will hav e a chance to revamp their productions, regain qualification and once again compete with the foreign product. On the other hand, Krugman believes that most nations use trade deficit and international competitiveness as a political ploy to impose trade barriers. Each countrys economy depends on the population within the country, not on what other countries are doing. Nations should thus not impose any trade barriers so that the foreign competition could both stimulate and replace inefficient companies. Meanwhile, nations should heighten their workforce to efficiently produce goods that ship to other countries, creating a inversely beneficial cycle.