A conceptual study on the international business among asian countries for the past five years (2016-2021)

Abstract

The economic activity, goods, innovations, investment and/or expertise across national borders and on a global or transactional scale is known as international business. It comprise the transfer of commodities and services between two or more countries  across international borders. Globalization is another term for international business. To do business internationally, multinational corporations must connect separate national market into single global marketplace. There are two macro-scale factors that highlight the trend toward greater Globalization. The first step is to remove barriers to cross-border trade (e.g., free flow of goods and services, and capital, referred to as “free trade”). the second factor is technological progress.

There have been shifts in the core unit of analysis as the field of international business has matured. First, there was a country-level analysis using national trade and foreign direct investment statistics (FDI). the focus then shifted to the multinational enterprise (MNE) and the firm-specific advantages of the parent company (FSAs). eventually, the MNE was examined as a network, and the subsidiary was examined as a unit of analysis.

We all are mindful that Asia is becoming increasingly important as a producer of more and more of the world’s goods and services. Asian markets are expanding rapidly in aspects of both size and importance. International trade means the transfer of the investments, products, and services across international borders or territories. When trading partners invest heavily in goods, they benefit from each other’s competence. Low prices are one of the advantages of the trade.

Asia has a striking economic growth for the past 50 years and have a fast moving and competitive business. In this paper we have made a detailed study on the shift in international business among Asian countries for the past 5 years (2016-21). though there is a pandemics situation, the international business has a significant importance in the economy and have shifted the core unit of analysis. Hence, this paper tends to provide the general characteristics and key areas of these and to give a knowledge about the frame work of the international business in Asian countries.