Choose one of the newly industrializing countries mentioned in the text (p. 102 International Business).The countries are Western Europe, Japan, Australia,
New Zealand, Canada, Israel, and the United States. The term developing is a classification for the world’s lower-income nations, which are less technically developed. At one time, newly industrializing countries (NICs) was a category which included the four Asian tigers (Taiwan, Hong Kong, Singapore, and South Korea), Brazil, Mexico, and three emerging NICs—Malaysia,Thailand, and Chile.
Choose a product you think would be suitable to export to the country you chose based solely on that country’s location, climate, topography, and natural resources. What effect might the economic and socioeconomic forces within that country have on the product’s potential? Explain the rationale behind your decisions. Respond to your classmates’ posts by debating the rationale behind their choices.
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Based on the countries mentioned, I will choose Canada as the newly industrializing country. Canada is positioned in North America and has a diverse climate and topography, which gives it access to a wide range of natural resources. One product that would be suitable to export to Canada based on its location, climate, topography, and natural resources is timber.
Canada has vast forested areas, making it one of the world's leading timber producers. The country's natural resources, including its abundant supply of timber, make it suitable for exporting wood and wood-based products such as lumber, plywood, and paper.
The economic and socioeconomic forces within Canada would have a significant impact on the potential of timber exports. Canada's economy relies heavily on the natural resources sector, including forestry. The government has implemented policies and regulations to support sustainable forest management, which ensures a constant supply of timber.
However, factors such as fluctuating commodity prices, changes in government policies, and environmental concerns can also affect the potential of timber exports. Economic fluctuations can impact the demand and prices for timber products, while changes in regulations can affect the ease of exporting and the competitiveness of Canadian timber in international markets. Additionally, environmental concerns may lead to stricter regulations on logging practices, impacting the availability and cost of timber.
It is important to consider these economic and socioeconomic forces when assessing the potential of exporting timber to Canada. By understanding the market dynamics and external factors, exporters can make informed decisions regarding their products and investments.
Debating the rationale behind other classmates' choices would involve analyzing the suitability of their chosen products based on the location, climate, topography, and natural resources of the selected country.