{"id":2829,"date":"2023-02-19T16:10:53","date_gmt":"2023-02-19T16:10:53","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/learn-it-3-2-1-participating-in-the-global-marketplace\/"},"modified":"2025-05-19T21:13:42","modified_gmt":"2025-05-19T21:13:42","slug":"learn-it-3-2-1-participating-in-the-global-marketplace","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/learn-it-3-2-1-participating-in-the-global-marketplace\/","title":{"raw":"Learn It 3.2.1: Participating in the Global Marketplace","rendered":"Learn It 3.2.1: Participating in the Global Marketplace"},"content":{"raw":"<section class=\"textbox learningGoals\">\r\n<ul>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use importing, exporting, and countertrade in global trade&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use importing, exporting, and countertrade in global trade<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the difference between outsourcing and offshoring&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the difference between outsourcing and offshoring<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use licensing and franchising to reach global markets&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use licensing and franchising to reach global markets<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use foreign direct investments, joint ventures, and foreign strategic alliances to reach global markets&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use foreign direct investments, joint ventures, and foreign strategic alliances to reach global markets<\/span><\/li>\r\n<\/ul>\r\n<\/section>\r\n<h2>Entering the Global Market<\/h2>\r\n<p>In today's economy, when a nation or business has an advantage\u2014either comparative or absolute\u2014it's likely to look beyond its own borders or storefront\u00a0to seek more economic opportunity. But how do you enter a global market? It's certainly not as simple as loading up your products in a van, driving to the next town, and knocking on doors. This section describes some of the common strategies companies and countries use to get their goods and services into global markets.<\/p>\r\n<h2>Exporting\/Importing<\/h2>\r\n<p>Exporting is the easiest and\u00a0most straightforward\u00a0way to engage with the global market.<\/p>\r\n<section class=\"textbox keyTakeaway\">\r\n<h3>exporting<\/h3>\r\n<p><strong>Exporting <\/strong>is taking goods that were produced within a company's\u00a0home country and shipping them to another country. The party sending the good is called an exporter.<\/p>\r\n<\/section>\r\n<p>It is impossible to discuss exporting without mentioning its complement, importing.<\/p>\r\n<section class=\"textbox keyTakeaway\">\r\n<h3>importing<\/h3>\r\n<p><strong>Importing<\/strong> is the process by which a good is brought into a jurisdiction, especially across a national border, from an external source. The party bringing in the good is called an importer.<\/p>\r\n<\/section>\r\n\r\n[caption id=\"attachment_6463\" align=\"alignright\" width=\"350\"]<img class=\"wp-image-6463\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/143\/2016\/08\/17214048\/8999743668_c2fbf166a8_k.jpg\" alt=\"very large container ship on water\" width=\"350\" height=\"233\" \/> Figure 1. Shipping containers are filled with exports bound for international markets.[\/caption]\r\n\r\n<p>Simply put, one country's exports become another country's imports. Examples of U.S. imports are everywhere: take a look at the labels in your clothes or the contents of your backpack. From our vantage point, U.S. exports may be a little harder to see, but they exist all the same and are plenty visible in other countries.<\/p>\r\n<p>According to <em>World's Top Exports<\/em>, the following export product groups represent the highest dollar value in American global shipments during 2024.[footnote]Workman, Daniel. \u201cTop US Exports 2024.\u201d Top US Exports 2024, May 19, 2025. https:\/\/www.worldstopexports.com\/united-states-top-10-exports\/[\/footnote] In parentheses is the percentage share each export category represents in terms of overall U.S. exports:<\/p>\r\n<ol>\r\n\t<li>Mineral fuels including oil: $320.1 billion (15.5% of total exports)<\/li>\r\n\t<li>Machinery including computers: $252.4 billion (12.2%)<\/li>\r\n\t<li>Electrical machinery, equipment: $213.9 billion (10.4%)<\/li>\r\n\t<li>Vehicles: $143.8 billion (7%)<\/li>\r\n\t<li>Aircraft, spacecraft: $134.2 billion (6.5%)<\/li>\r\n<\/ol>\r\n<h3>Advantages of Exporting and Importing<\/h3>\r\n<p>Since exporting doesn't\u00a0require a company to manufacture its\u00a0products in the target country, the company doesn't have to invest in factories, equipment, or other production facilities located halfway around the globe. Most of the costs involved in\u00a0exporting are associated with finding a\u00a0buyer or distributor in the destination market. For these reasons, exporting is considered\u00a0to be the quickest and least expensive means to enter the\u00a0global market. However, there are disadvantages, too.<\/p>\r\n<h3>Disadvantages of Exporting and Importing<\/h3>\r\n<p>Once products arrive in the destination market, the business loses control of them, which can result in products being misrepresented, copied by other manufacturers, or even sold on a black market. In addition, because the business isn't active in the new market, it can't gain insight into or experience with\u00a0local consumer preferences and demand.\u00a0This lack of information\u00a0can create uncertainty and potentially\u00a0cost the company opportunities down the road. As you will learn later in this module, businesses operating in other countries may find themselves subject to taxes, regulations, and\/or restrictions that can\u00a0substantially affect\u00a0the profitability of the entire export venture.<\/p>\r\n<h3>Countertrade<\/h3>\r\n<section class=\"textbox keyTakeaway\">\r\n<h3>countertrade<\/h3>\r\n<p><strong>Countertrade\u00a0<\/strong>is a system of exchange in which goods and services are used as payment rather than money.<\/p>\r\n<\/section>\r\n<p><span style=\"font-size: 1rem; text-align: initial;\">Countertrading is common\u00a0among countries that lack cash or where other types of market trade are impossible. In developing countries, whose currency may be weak or devalued relative to another country's currency, bartering\u00a0may be the only way to trade. Indonesia<\/span><span style=\"font-size: 1rem; text-align: initial;\"> trades locally produced commodities such as palm oil, rubber, coffee, cocoa, tea, textiles, plastics, and spices in exchange for military equipment such as aircraft<\/span><span style=\"font-size: 1rem; text-align: initial;\">.[footnote]Grevatt, Jon. \u201cCovid-19: Indonesia Looks to Expand Countertrade Options.\u201d Janes.com, July 17, 2020. https:\/\/www.janes.com\/defence-news\/news-detail\/covid-19-indonesia-looks-to-expand-countertrade-options[\/footnote]<\/span><\/p>\r\n<section class=\"textbox connectIt\">\r\n<h3>Did Pepsi Own a Russian Navy?[footnote]Stenberg, Mark. \u201cHow the CEO of Pepsi, by Bartering Battleships and Vodka, Negotiated Cold War Diplomacy and Brought His Soda to the Soviet Union.\u201d Business Insider, November 11, 2020. https:\/\/www.businessinsider.com\/ceo-of-pepsi-brought-soda-to-the-soviet-union-2020-11; Ironside, Kristy. \u201cIs It True That Pepsi Briefly Owned Soviet Warships? | HistoryExtra.\u201d HistoryExtra, April 19, 2022. https:\/\/www.historyextra.com\/period\/20th-century\/is-it-true-pepsi-owned-soviet-warships\/; Reuters. \u201cWith Coke and Pepsi out, Russian Company Says It\u2019s Time for Cola Chernogolovka.\u201d Reuters, June 29, 2022. https:\/\/www.reuters.com\/business\/retail-consumer\/with-coke-pepsi-out-russian-company-says-its-time-cola-chernogolovka-2022-06-29\/[\/footnote]<\/h3>\r\n\r\n[caption id=\"attachment_4411\" align=\"alignright\" width=\"300\"]<img class=\"wp-image-4411 size-medium\" src=\"https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/15\/2023\/02\/27191411\/pexels-tim-mossholder-4727921-300x200.jpg\" alt=\"sign with a Pepsi Cola bottle cap that says, &quot;Have a Pepsi&quot;\" width=\"300\" height=\"200\" \/> Figure 2. Pepsi agreed to barter soda for Russian vodka.[\/caption]\r\n\r\n<p>Coca-Cola dominated the soda market in Europe because American soldiers introduced the brand by bringing Cokes with them during World War II. Rather than compete with Coca-Cola, Pepsi tried to break into new countries. In 1971, Pepsi was able to negotiate a deal to bring Pepsi into the former Soviet Union, a potentially huge market. However, at the time, the Soviet currency could not be exchanged into any other currency. Pepsi agreed to exchange their soda for Stolichnaya, the Russian vodka.<\/p>\r\n<p>By 1989, Pepsi realized that demand for Pepsi was growing in the Soviet Union faster than the market for vodka in the U.S. They would not be able to sell any more vodka so they needed an alternative form of payment. Pepsi, a Norwegian company, and the Soviet government negotiated a deal where old Soviet warships were sent to the Norwegian company to be broken down to scrap metal. Pepsi took 25% of the value of the ships as payment and sent Pepsi to the Soviet Union.<\/p>\r\n<p>Pepsi eventually lost their lead in the region to Coca-Cola when the Soviet Union dissolved into Russia, Ukraine, and 13 other countries. However, as of 2022, both companies have suspended their production and sales in Russia due to its invasion of Ukraine.<\/p>\r\n<\/section>\r\n<section class=\"textbox tryIt\">[ohm2_question height=\"200\"]3813[\/ohm2_question][ohm2_question height=\"350\"]3814[\/ohm2_question]<\/section>","rendered":"<section class=\"textbox learningGoals\">\n<ul>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use importing, exporting, and countertrade in global trade&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use importing, exporting, and countertrade in global trade<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the difference between outsourcing and offshoring&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the difference between outsourcing and offshoring<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use licensing and franchising to reach global markets&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use licensing and franchising to reach global markets<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use foreign direct investments, joint ventures, and foreign strategic alliances to reach global markets&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use foreign direct investments, joint ventures, and foreign strategic alliances to reach global markets<\/span><\/li>\n<\/ul>\n<\/section>\n<h2>Entering the Global Market<\/h2>\n<p>In today&#8217;s economy, when a nation or business has an advantage\u2014either comparative or absolute\u2014it&#8217;s likely to look beyond its own borders or storefront\u00a0to seek more economic opportunity. But how do you enter a global market? It&#8217;s certainly not as simple as loading up your products in a van, driving to the next town, and knocking on doors. This section describes some of the common strategies companies and countries use to get their goods and services into global markets.<\/p>\n<h2>Exporting\/Importing<\/h2>\n<p>Exporting is the easiest and\u00a0most straightforward\u00a0way to engage with the global market.<\/p>\n<section class=\"textbox keyTakeaway\">\n<h3>exporting<\/h3>\n<p><strong>Exporting <\/strong>is taking goods that were produced within a company&#8217;s\u00a0home country and shipping them to another country. The party sending the good is called an exporter.<\/p>\n<\/section>\n<p>It is impossible to discuss exporting without mentioning its complement, importing.<\/p>\n<section class=\"textbox keyTakeaway\">\n<h3>importing<\/h3>\n<p><strong>Importing<\/strong> is the process by which a good is brought into a jurisdiction, especially across a national border, from an external source. The party bringing in the good is called an importer.<\/p>\n<\/section>\n<figure id=\"attachment_6463\" aria-describedby=\"caption-attachment-6463\" style=\"width: 350px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-6463\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/143\/2016\/08\/17214048\/8999743668_c2fbf166a8_k.jpg\" alt=\"very large container ship on water\" width=\"350\" height=\"233\" \/><figcaption id=\"caption-attachment-6463\" class=\"wp-caption-text\">Figure 1. Shipping containers are filled with exports bound for international markets.<\/figcaption><\/figure>\n<p>Simply put, one country&#8217;s exports become another country&#8217;s imports. Examples of U.S. imports are everywhere: take a look at the labels in your clothes or the contents of your backpack. From our vantage point, U.S. exports may be a little harder to see, but they exist all the same and are plenty visible in other countries.<\/p>\n<p>According to <em>World&#8217;s Top Exports<\/em>, the following export product groups represent the highest dollar value in American global shipments during 2024.<a class=\"footnote\" title=\"Workman, Daniel. \u201cTop US Exports 2024.\u201d Top US Exports 2024, May 19, 2025. https:\/\/www.worldstopexports.com\/united-states-top-10-exports\/\" id=\"return-footnote-2829-1\" href=\"#footnote-2829-1\" aria-label=\"Footnote 1\"><sup class=\"footnote\">[1]<\/sup><\/a> In parentheses is the percentage share each export category represents in terms of overall U.S. exports:<\/p>\n<ol>\n<li>Mineral fuels including oil: $320.1 billion (15.5% of total exports)<\/li>\n<li>Machinery including computers: $252.4 billion (12.2%)<\/li>\n<li>Electrical machinery, equipment: $213.9 billion (10.4%)<\/li>\n<li>Vehicles: $143.8 billion (7%)<\/li>\n<li>Aircraft, spacecraft: $134.2 billion (6.5%)<\/li>\n<\/ol>\n<h3>Advantages of Exporting and Importing<\/h3>\n<p>Since exporting doesn&#8217;t\u00a0require a company to manufacture its\u00a0products in the target country, the company doesn&#8217;t have to invest in factories, equipment, or other production facilities located halfway around the globe. Most of the costs involved in\u00a0exporting are associated with finding a\u00a0buyer or distributor in the destination market. For these reasons, exporting is considered\u00a0to be the quickest and least expensive means to enter the\u00a0global market. However, there are disadvantages, too.<\/p>\n<h3>Disadvantages of Exporting and Importing<\/h3>\n<p>Once products arrive in the destination market, the business loses control of them, which can result in products being misrepresented, copied by other manufacturers, or even sold on a black market. In addition, because the business isn&#8217;t active in the new market, it can&#8217;t gain insight into or experience with\u00a0local consumer preferences and demand.\u00a0This lack of information\u00a0can create uncertainty and potentially\u00a0cost the company opportunities down the road. As you will learn later in this module, businesses operating in other countries may find themselves subject to taxes, regulations, and\/or restrictions that can\u00a0substantially affect\u00a0the profitability of the entire export venture.<\/p>\n<h3>Countertrade<\/h3>\n<section class=\"textbox keyTakeaway\">\n<h3>countertrade<\/h3>\n<p><strong>Countertrade\u00a0<\/strong>is a system of exchange in which goods and services are used as payment rather than money.<\/p>\n<\/section>\n<p><span style=\"font-size: 1rem; text-align: initial;\">Countertrading is common\u00a0among countries that lack cash or where other types of market trade are impossible. In developing countries, whose currency may be weak or devalued relative to another country&#8217;s currency, bartering\u00a0may be the only way to trade. Indonesia<\/span><span style=\"font-size: 1rem; text-align: initial;\"> trades locally produced commodities such as palm oil, rubber, coffee, cocoa, tea, textiles, plastics, and spices in exchange for military equipment such as aircraft<\/span><span style=\"font-size: 1rem; text-align: initial;\">.<a class=\"footnote\" title=\"Grevatt, Jon. \u201cCovid-19: Indonesia Looks to Expand Countertrade Options.\u201d Janes.com, July 17, 2020. https:\/\/www.janes.com\/defence-news\/news-detail\/covid-19-indonesia-looks-to-expand-countertrade-options\" id=\"return-footnote-2829-2\" href=\"#footnote-2829-2\" aria-label=\"Footnote 2\"><sup class=\"footnote\">[2]<\/sup><\/a><\/span><\/p>\n<section class=\"textbox connectIt\">\n<h3>Did Pepsi Own a Russian Navy?<a class=\"footnote\" title=\"Stenberg, Mark. \u201cHow the CEO of Pepsi, by Bartering Battleships and Vodka, Negotiated Cold War Diplomacy and Brought His Soda to the Soviet Union.\u201d Business Insider, November 11, 2020. https:\/\/www.businessinsider.com\/ceo-of-pepsi-brought-soda-to-the-soviet-union-2020-11; Ironside, Kristy. \u201cIs It True That Pepsi Briefly Owned Soviet Warships? | HistoryExtra.\u201d HistoryExtra, April 19, 2022. https:\/\/www.historyextra.com\/period\/20th-century\/is-it-true-pepsi-owned-soviet-warships\/; Reuters. \u201cWith Coke and Pepsi out, Russian Company Says It\u2019s Time for Cola Chernogolovka.\u201d Reuters, June 29, 2022. https:\/\/www.reuters.com\/business\/retail-consumer\/with-coke-pepsi-out-russian-company-says-its-time-cola-chernogolovka-2022-06-29\/\" id=\"return-footnote-2829-3\" href=\"#footnote-2829-3\" aria-label=\"Footnote 3\"><sup class=\"footnote\">[3]<\/sup><\/a><\/h3>\n<figure id=\"attachment_4411\" aria-describedby=\"caption-attachment-4411\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-4411 size-medium\" src=\"https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/15\/2023\/02\/27191411\/pexels-tim-mossholder-4727921-300x200.jpg\" alt=\"sign with a Pepsi Cola bottle cap that says, &quot;Have a Pepsi&quot;\" width=\"300\" height=\"200\" srcset=\"https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/15\/2023\/02\/27191411\/pexels-tim-mossholder-4727921-300x200.jpg 300w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/15\/2023\/02\/27191411\/pexels-tim-mossholder-4727921-65x43.jpg 65w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/15\/2023\/02\/27191411\/pexels-tim-mossholder-4727921-225x150.jpg 225w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/15\/2023\/02\/27191411\/pexels-tim-mossholder-4727921-350x234.jpg 350w, https:\/\/content-cdn.one.lumenlearning.com\/wp-content\/uploads\/sites\/15\/2023\/02\/27191411\/pexels-tim-mossholder-4727921.jpg 640w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-4411\" class=\"wp-caption-text\">Figure 2. Pepsi agreed to barter soda for Russian vodka.<\/figcaption><\/figure>\n<p>Coca-Cola dominated the soda market in Europe because American soldiers introduced the brand by bringing Cokes with them during World War II. Rather than compete with Coca-Cola, Pepsi tried to break into new countries. In 1971, Pepsi was able to negotiate a deal to bring Pepsi into the former Soviet Union, a potentially huge market. However, at the time, the Soviet currency could not be exchanged into any other currency. Pepsi agreed to exchange their soda for Stolichnaya, the Russian vodka.<\/p>\n<p>By 1989, Pepsi realized that demand for Pepsi was growing in the Soviet Union faster than the market for vodka in the U.S. They would not be able to sell any more vodka so they needed an alternative form of payment. Pepsi, a Norwegian company, and the Soviet government negotiated a deal where old Soviet warships were sent to the Norwegian company to be broken down to scrap metal. Pepsi took 25% of the value of the ships as payment and sent Pepsi to the Soviet Union.<\/p>\n<p>Pepsi eventually lost their lead in the region to Coca-Cola when the Soviet Union dissolved into Russia, Ukraine, and 13 other countries. However, as of 2022, both companies have suspended their production and sales in Russia due to its invasion of Ukraine.<\/p>\n<\/section>\n<section class=\"textbox tryIt\"><iframe loading=\"lazy\" id=\"ohm3813\" class=\"resizable\" src=\"https:\/\/ohm.one.lumenlearning.com\/multiembedq.php?id=3813&theme=lumen&iframe_resize_id=ohm3813&source=tnh&show_question_numbers\" width=\"100%\" height=\"200\"><\/iframe><iframe loading=\"lazy\" id=\"ohm3814\" class=\"resizable\" src=\"https:\/\/ohm.one.lumenlearning.com\/multiembedq.php?id=3814&theme=lumen&iframe_resize_id=ohm3814&source=tnh&show_question_numbers\" width=\"100%\" height=\"350\"><\/iframe><\/section>\n<hr class=\"before-footnotes clear\" \/><div class=\"footnotes\"><ol><li id=\"footnote-2829-1\">Workman, Daniel. \u201cTop US Exports 2024.\u201d Top US Exports 2024, May 19, 2025. https:\/\/www.worldstopexports.com\/united-states-top-10-exports\/ <a href=\"#return-footnote-2829-1\" class=\"return-footnote\" aria-label=\"Return to footnote 1\">&crarr;<\/a><\/li><li id=\"footnote-2829-2\">Grevatt, Jon. \u201cCovid-19: Indonesia Looks to Expand Countertrade Options.\u201d Janes.com, July 17, 2020. https:\/\/www.janes.com\/defence-news\/news-detail\/covid-19-indonesia-looks-to-expand-countertrade-options <a href=\"#return-footnote-2829-2\" class=\"return-footnote\" aria-label=\"Return to footnote 2\">&crarr;<\/a><\/li><li id=\"footnote-2829-3\">Stenberg, Mark. \u201cHow the CEO of Pepsi, by Bartering Battleships and Vodka, Negotiated Cold War Diplomacy and Brought His Soda to the Soviet Union.\u201d Business Insider, November 11, 2020. https:\/\/www.businessinsider.com\/ceo-of-pepsi-brought-soda-to-the-soviet-union-2020-11; Ironside, Kristy. \u201cIs It True That Pepsi Briefly Owned Soviet Warships? | HistoryExtra.\u201d HistoryExtra, April 19, 2022. https:\/\/www.historyextra.com\/period\/20th-century\/is-it-true-pepsi-owned-soviet-warships\/; Reuters. \u201cWith Coke and Pepsi out, Russian Company Says It\u2019s Time for Cola Chernogolovka.\u201d Reuters, June 29, 2022. https:\/\/www.reuters.com\/business\/retail-consumer\/with-coke-pepsi-out-russian-company-says-its-time-cola-chernogolovka-2022-06-29\/ <a href=\"#return-footnote-2829-3\" class=\"return-footnote\" aria-label=\"Return to footnote 3\">&crarr;<\/a><\/li><\/ol><\/div>","protected":false},"author":21,"menu_order":10,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Reading: Global Business Strategies\",\"author\":\"Linda S Williams and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"original\",\"description\":\"Practice Question\",\"author\":\"Nina Burokas\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Hamburg 191\",\"author\":\"Rob124\",\"organization\":\"\",\"url\":\"https:\/\/www.flickr.com\/photos\/15472273@N07\/8999743668\/\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"original\",\"description\":\"Revision and adaptation\",\"author\":\"Linda Williams and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":2819,"module-header":"learn_it","content_attributions":[{"type":"original","description":"Reading: Global Business Strategies","author":"Linda S Williams and Lumen Learning","organization":"","url":"","project":"","license":"cc-by","license_terms":""},{"type":"original","description":"Practice Question","author":"Nina Burokas","organization":"Lumen Learning","url":"","project":"","license":"cc-by","license_terms":""},{"type":"cc","description":"Hamburg 191","author":"Rob124","organization":"","url":"https:\/\/www.flickr.com\/photos\/15472273@N07\/8999743668\/","project":"","license":"cc-by","license_terms":""},{"type":"original","description":"Revision and adaptation","author":"Linda Williams and Lumen Learning","organization":"","url":"","project":"","license":"cc-by","license_terms":""}],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"","media_targets":[]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2829"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/users\/21"}],"version-history":[{"count":17,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2829\/revisions"}],"predecessor-version":[{"id":9343,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2829\/revisions\/9343"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/2819"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2829\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/media?parent=2829"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=2829"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=2829"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/license?post=2829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}