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Changing Global Marketplace and Meeting Challenges

The world markets have changed enormously in the past decade. New markets have been opened with the end of cold war. New economic blocks have been formed. New trading alliances are shaping. Inevitably, a new way of thinking and approach to doing business is necessary in order to survive in the fast changing economy.

Exports are key to the economic survival of a nation. A nation that exports more will grow stronger. The stronger a nation is, the more recognition and respect it will earn.

Increased Worldwide Competition

There can be no growth without competition. As the world population grows, which is estimated at a rate of 1.7% annually, more products and services are needed. Business people worldwide are keenly competing to fill these needs. World trade grew in volume at an average of 5% annually over the past 25 years. With the end of cold war, more resources worldwide are geared towards exporting. The export business has become more competitive. Exporting becomes more challenging with continued population growth and the addition of new exporters.

Effects of Social Upheaval and Recession

Any form of instability in a country can ruin its economy and may place its international trade in disarray. With the end of cold war, the earth has become a more peaceful place to live. However, an alarming occurrence is the growing number of permanent lower class in numerous countries, including in developed nations. The adverse effect of social upheaval is paramount. It can undermine the economic progress of a nation. There is an urgent need to stop the growing number of the lower class. The task requires a concerted effort from the government and people. The task is not easily done.

The effect of recession is immense, businesses sink, dreams of a lifetime shatter, and the lower class increases. Vigorous export promotions, increase in exports, and diversification of export markets can help reduce the number of the lower class.

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If your business is Trade Shows, Customs, Trade Finance, Inspection, Insurance, Trade Laws, Trade Solutions, Translation or involves in foreign trade supply chain, you will want to be part of the world largest international B2B trade community.

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