For professionals interested in establishing a career in international trade, the online MBA in International Business program at Pittsburg State University provides a thorough understanding of international trade and finance. Coursework also delves into globalization and its effects on both developed and emerging economies. The concentration courses, in particular, deal with concepts in international trade and their economic underpinnings.
Globalization Is Radically Altering Economies and Lives
Ordinary working American citizens see the effects of globalization, both positive and negative, in their daily lives. For example, manufacturing jobs have steadily shifted to other countries over the past several decades as America has transitioned to a service and digital economy. More recently, international trade agreements have come under political scrutiny and have been the subject of controversy, especially in the case of the escalating Chinese-American trade war of 2018. Tariff disputes, intellectual property theft and perceived inequities in imports/exports are just a few of the challenges we face. Automation is a relatively new source of economic instability for individuals, as countless jobs have either been replaced or significantly altered because of technology that can do the work more efficiently and at a lower cost.
The stakes in international trade have never been higher. Globalization is responsible for producing new jobs in business management, shipping logistics and international trade regulations, while making other jobs obsolete or unsustainable in countries where they once provided workers with stable careers. Companies of all sizes have never been more concerned with where to locate their headquarters, offices, manufacturing facilities and warehouses. Their futures are just as dependent on making smart decisions with regard to the markets in which they focus on doing business. But many prospective markets with strong opportunities are also roiled by political upheaval and internal divisions.
The Opportunities Have Never Been Greater
Despite the negatives, globalization appears to be a net positive for the American economy. According to the World Trade Organization, merchandise exports increased to $17.73 trillion in 2017, up from $16.03 trillion in 2016. World commercial services grew by 8 percent in 2017 to $5.28 trillion, which was in line with the growth in exported goods. The WTO notes, "The European Union was the largest exporter of manufactured goods in 2017, with a value of US$ 4.67 trillion, followed by China with US$ 2.13 trillion and the United States with US$ 1.13 trillion." Asia was the top contributor to international trade growth in volume, growing by 8 percent as overall world merchandise trade grew by 4.7 percent in 2017. This was the highest growth rate in six years.
For these reasons, governments, public entities and private sector businesses in the United States and abroad all have diverse interests in hiring highly educated experts in international trade. Jobs are available in every conceivable discipline, from communications to management to PR. What follows is a small representative sampling of these opportunities to help you determine if a specialized MBA in international business may be right for you.
International Trade Finance Manager: These professionals devise plans and strategies for banks and other financial institutions, taking into account factors affecting global finance, including foreign investments and exchange rates.
Interpreter/Translator: Governments, private businesses and international organizations all need interpreters and translators with international trade expertise and multilingual skills to help them work with partners, clients and others across borders.
Public Relations Manager: This position works with managers, writers, and other personnel to control and improve the worldwide public perception of their organizations. They formulate campaigns to boost awareness and represent their companies to the media.
International Trade Compliance Manager: Professionals in this role create and update customs and regulatory policy for their organizations, as well as documentation and processes for conducting international trade.
If you are interested in the dynamic, complex and intellectually stimulating world of international trade, earning an MBA in International Business online from PSU might be the best place to start.
Sources:WTO: Goods and Services — What Is Being Traded?
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