Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University

Air Date: February 07, 2019

Hosted by Tomas Hult, this segment of the globalEDGE Business Beat focuses on the world’s global efficiency and the downturn that started in 2011 and became costly in 2016 and on. International production, strategic global investments, and the infrastructure design of the global economy are all a function of driving satisfaction among a company’s customers.

In brief, the value of world trade has grown consistently faster than the growth rate in the world economy since 1960, and it has been much higher since the turn of the century. Since 2000, trade across country borders has been at least double the total production of all countries combined. By 2020, we expect the value of world trade to be about 167 times larger than it was in 1960, whereas the world economy will be only 65 times larger. The troubling part is that for the first time in seven years, we expect the world’s “global efficiency ratio” to go below 2.60 by the time all calculations are done for 2018, and then become lower in 2019 and 2020 (2.57 to 2.59). What does this mean? Unfortunately, the combination of escalated trade wars using tariffs as the strategy and the dramatic growth in cross-border trade since 2000 relative to total world production spells serious problems.

Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University

Air Date: February 07, 2019

Hosted by Tomas Hult, this segment of the globalEDGE Business Beat focuses on internationalization at the nation’s community colleges.

The 2019 Benchmarking Report on International Business Education at Community Colleges was released in January 2019 by MSU’s International Business Center. The report provides an assessment of current internationalization efforts at community colleges and efforts that need to be planned to ensure that the US stays internationally competitive in workforce development.

The 2019 benchmark shows an increase in internationalization optimism on community college campuses and in programming. The expectation is that community colleges will internationalize 24 percent of their programs and activities by 2029. Importantly, at 11 percent today, community colleges have made significant strategic strides to internationalize their programming in the last decade, up from about 4 percent internationalization in 2009. The 16-page 2019 Benchmarking Report can be downloaded free at global.broad.msu.edu/ibc/research and a presentation of the results and implications can be found at YouTube.com/TomasHult.

Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University

Air Date: February 07, 2019

This segment of globalEDGE Business Beat focuses on who we are as MSU’s International Business Center. The segment builds on the two-pager that the center has as an overview for interested parties. Broadly, The International Business Center (IBC) in the Broad College of Business at Michigan State University was designated in 1990 as a National Resource Center by the U.S. Department of Education (i.e., a Center for International Business Education and Research). Our mission is to provide superior education, research, and assistance to businesses, public policy makers, academics, and students on international business and trade.

The IBC positions the Broad College as the top knowledge generator in international business research, guiding MSU’s path to thinking globally in more than 170 countries. Beyond running MSU’s international business minor and facilitating a global mindset of all Broad College students, IBC collaborates with Broad College faculty to secure grants for international research and outreach.

Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University

Air Date: February 07, 2019

Hosted by Tomas Hult, this segment of the globalEDGE Business Beat focuses on MSU’s International Business Center being funded by the US Department of Education to help the country become more internationally competitive.

As an overview, the International Business Center in MSU’s Broad College of Business is delighted that the Center has again was awarded a grant by the U.S. Department of Education to continue to operate a Center for International Business Education and Research (CIBER). MSU is the only university in Michigan, one of three in the Big Ten, and one of only 15 universities in the country given this privilege. Through grant and matching funds, the $3.3 million project for 2018-2022 is titled “Strategic and Sustainable Value Chains for Increased International Competitiveness.” This value chain perspective – with MSU being top-ranked in supply chain management (US News 2018) – provides CIBER with a synergistic role within the Broad College and at MSU.

Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University

Air Date: February 07, 2019

Hosted by Tomas Hult, this segment of the globalEDGE Business Beat focuses on how MSU’s International Business Center serves Michigan and the Nation’s companies and educators, and provides prestigious leadership around the world through the Academy of International Business.

The regional impact of IBC in the last year has been tremendous. Under the auspices of IBC’s Michigan Export Growth Program (global.broad.msu.edu/MEGP), in the last year, the center participated in 30 business outreach programs involving 4,474 business people. IBC also engaged in 45 educational programs involving 2,336 higher education participants (four-year institutions and community colleges), ultimately impacting 154,980 students nationwide. Also, 168 companies received IBC market research reports through the Michigan Export Growth Program and attended events/trainings organized by Global Business Club of Mid-Michigan.

In 2018, these companies collectively generated $105.5 million in new export sales by achieving 939 new international market entries to 112 countries. It is estimated that one job is created for every $210,000 in export sales. So, these companies created an estimated 502 additional jobs in the state of Michigan during the 2018 fiscal year.

Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University

Air Date: February 07, 2019

Hosted by Tomas Hult, this segment of the globalEDGE Business Beat provides a brief overview of the tremendous team in the International Business Center in the Broad College of Business at Michigan State University.

In alphabetical order, highlighted are: Ronda Bunnell (Educational Programs Coordinator), Anne Hoekman (Editorial Manager), Tomas Hult (Director, Professor, and Byington Endowed Chair), Kathy Kiessling (Program Services Coordinator), Irem Kiyak (Associate Director), Tunga Kiyak (Managing Director), Erkan Kocas (Trade Specialist), Jade Sims (Trade Specialist), Dan Rosplock Communications Coordinator), Jamie Rytlewski (IT Consultant), and Sarah Singer (Assistant Director and Education Abroad Director). More about the IBC Team can be found on our web pages at https://global.broad.msu.edu/ibc/team.

About globalEDGE Business Beat

globalEDGE Business Beat is your source for global business knowledge on the airways (via internet radio broadcasts and PodCasts). gBB covers discussions with a wide range of global leaders in business, government, and academe to spread the word about the latest thoughts, tools, and markets to succeed globally. The show is hosted by Dr. Tomas Hult from the International Business Center in the Eli Broad College of Business at Michigan State University (http://ibc.msu.edu). The podcasts are available on the Michigan Business Network and globalEDGE.

The name globalEDGE Business Beat is connected to Michigan State University’s world-leading web resource (https://globalEDGE.msu.edu). globalEDGE is “your source for global business knowledge” and covers all important issues, knowledge, and data on international business and trade for every country, industry, and topic. The site has been ranked #1 on Google for the search term “international business resources” since 2004. globalEDGE has more than one million active users as well as more than 100,000 registered users in more than 200 countries. The site is free and has users in virtually every country every day.