Explain why nations trade.
Describe how trade is measured between nations.
Identify the barriers to international trade.
Discuss reducing barriers to international trade.
Explain the decisions to go global.
It is good to be king and Toyota is—at least when it comes to recent auto sales. In 2012, Toyota Motor reported global sales of 9.75 million vehicles, topping its forecast of 9.7 million vehicles, while General Motors announced global sales of 9.29 million units and the Volkswagen Group finished third in the ranking with sales of 9.09 million.
While the worldwide sales numbers look good for Toyota, the crown might not be as shiny as Toyota would like. GM is the leading automaker in the world's two largest markets, China and the United States. Toyota is a clear leader in its home market of Japan, ...