Topics: International trade, European Union, Trade bloc Pages: 3 (553 words) Published: April 28, 2013
coCountertrade means exchanging goods or services which are paid for, in whole or part, with other goods or services, rather than with money. "Any transaction involving exchange of goods or service should be equal value.

Barter: Exchange of goods or services directly for other goods or services without the use of money as means of purchase or payment. Counter purchase: Sale of goods and services in other country, the company should promises to make a future purchase of a specific product in that country. Buyback: occurs when a firm builds a plant in a country - or supplies tecnology, equipment, training, or other services to the country and agrees to take a certain percentage of the plant's output as partial payment for the contract. Offset:currency purchase of an unspecified product from that nation. Agreement one nation to buy a product from another, subject is purchase some of the components and raw materials from the buyer of the finished product Compensation trade: Compensation trade is a form of barter in which one of the flows is partly in goods and partly in hard currency.

Example Russia and PepsiCo

A monochronic people means that things are done one at a time and time is segmented into precise, small units. Under this system time is scheduled, arranged and managed.

A Polychronic people means where several things can be done at once, and a more fluid approach is taken to scheduling time. Unlike Americans and most northern and western European cultures, Latin American, African, Asian and Arabic cultures use the polychronic system of time.

monochronic North American, Swiss, Germans typical. It is like to just do one thing in one point in time in business. Their time is divided into small units, and then very concerned about punctuality. M-time is the use of a line way, it considers who save time, waste of time, time spent, loss of time, it is all are visible. Opposite Polychronic cultures “is more focused on relationships, rather than...
Continue Reading

Please join StudyMode to read the full document

Become a StudyMode Member

Sign Up - It's Free