Select one of the poorest countries of the world (one with under $1000 gross domestic product [GDP] per capita). Research your chosen country and provide answers to the following problems:
- Does this country provide exports? If so, what products or services are exported?
- What quality or condition is the land in this country?
- What is the rate of unemployment?
- What is the education situation or level of education for the people in this country?
Based on the information provided, discern whether this country has any national competitive advantage and discuss whether free trade can benefit this country and, if so, how. Be specific in your response.
Based on your country of choice, develop scenarios where firms may invest in your country using the following strategies:
- Global standardization strategy
- Localization strategy
- Transnational strategy
- International strategy
For each strategy, develop one scenario where an international firm would desire to enter the market of your chosen country. Describe the products or services offered by each firm and why the strategy was chosen. Cultural, political, and legal factors should be taken into consideration, as well as any informal or formal trade barriers.