The rise and continuing strong growth of emerging markets, and particularly the four largest emerging markets (LEMs) -- Brazil, Russia, India and China -- offer both opportunities and challenges for international business. However, recently there has emerged a growing consensus that the increasing international competitiveness of these economies now presents major challenges for the world economy. These challenges are already evident in the form of record commodity prices, rising food costs, growing outward investment and acquisition by LEM firms, increased job insecurity and growing income inequality in developed nations, and demand for a restructuring of international institutions to reflect the shifting balance of economic power in the world economy. At the same time a stalling of world trade talks, a growing recession in the West and increased reliance on selective protectionism are all impacting on the prospects for emerging economies. Large Emerging Markets: Competitve Challenges goes the next stage of analysis of LEMs.
This important new text moves beyond discussing the mere potential of LEMs for international business to consider how they will impact on the very nature of international business and the structure and operation of the world economy. The rise of LEMs creates three sets of challenges: for LEM-based enterprises as they seek to enhance their competitiveness and internationalize for existing multinational firms as they increasingly incorporate LEMs into their strategies for the rest of the world as it adjusts to accommodate the rise of LEMs. Illustrated with short cases and discussion questions in each chapter, this book will make for an outstanding text for courses in international business strategy and emerging markets.
Table of Contents
@contents:Selected Contents: 1. Introduction 2. The Resurgence of Emerging Markets (EMs) 3. The Competitive Strengths of EMs 4. The Development of EMs 5. LEMs and International Business Strategy 6. The Internationalisation of EM Firms 7. Accommodating the Rise of LEMs 9. Conclusions 10. Critical Lessons for Management
Peter Enderwick is Professor of International Business at Auckland University of Technology, New Zealand. His current research interests include competitiveness of small economies, with a special interest in emerging economies in Asia.