Thanks to the highly successful Marshall Plan, which helped many broken European economies get back on their feet after World War II, the U.S. managed to create a massive new market for its exports. Over the next generation, almost every major U.S. firm opened a string of sales offices on the Continent, and for some firms those offices went on to deliver a solid portion of annual sales. #-ad_banner-#But it’s been quite a while since Europe delivered real growth to U.S. firms. Instead, they’ve come to bank on Asia for sales expansion, especially in China and… Read More
Thanks to the highly successful Marshall Plan, which helped many broken European economies get back on their feet after World War II, the U.S. managed to create a massive new market for its exports. Over the next generation, almost every major U.S. firm opened a string of sales offices on the Continent, and for some firms those offices went on to deliver a solid portion of annual sales. #-ad_banner-#But it’s been quite a while since Europe delivered real growth to U.S. firms. Instead, they’ve come to bank on Asia for sales expansion, especially in China and Japan, which collectively account for more than $14 trillion in annual GDP. That’s as much as the seven next largest economies in the world — combined. (That is, except for the U.S., which generates more than $16 trillion in annual GDP.) These days, China and Japan are causing U.S. executives all kinds of headaches. Each country has a unique and growing set of problems. A few bad breaks could lead to serious headaches for regional sales offices. China Back in January, I noted that rising wages and a shaky banking sector were threatening to end China’s impressive string of… Read More