Competing in World Markets

Learning Objectives

image Explain why nations trade.

image Describe how trade is measured between nations.

image Identify the barriers to international trade.

image Discuss reducing barriers to international trade.

image Explain the decisions to go global.

Toyota Reclaims Global Auto Sales Crown

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, ...

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