This book presents different aspects of the systems of international business that interlock to make up the evolving world of global trade and investment. Although Japan is the growth engine of the Pacific Basin, Taiwan has also emerged as a center of trade, investment and entrepreneurship. Hong Kong's capital market faces increased risk in the wake of the Asian financial crisis, but trade and investment in mainland China still continues to increase dramatically. To avoid slackening domestic growth rates, Taiwan has increased its foreign investment in mainland China. But Taiwan worries that it has invested too much in the mainland and wonders if its investment shouldn't "Go South," instead. Factors such as these interact as a part of the continuing evolution of multinational business in the Pacific Basin.
While Asian investment in China is increasing, it is necessary for Asian economies to make major adjustments to maintain their trade and investment flows with the "emerging market" represented by the new European Union.
Although global capital markets are rapidly merging, there has been an explosion of emerging capital markets in smaller countries. These markets interlock in interesting ways, sometimes merging and sometimes retaining their separate identities despite their connection with fluid international capital flows.
All of these interlocking and interactive global, regional, national and local systems affect each other. The availability of transportation, capital and government infrastructural help affect national growth rates, local entrepreneurship and even metropolitan housing patterns. The authors of the chapters in this volume have explored many of these changing systems.