Evolution of Manufacturing Strategy and System in Multinational Corporations:Internationalisation and Inter-firm Collaboration Redefine the Boundaries of Manufacturing and Firm

In recent decades, the world economy has been stron gl y driven by worldwide foreign direct investment (FDI) of transnational corporati ons (TNCs). And business globalisation is leading to widespread re-structuring of international manufacturing systems in TNCs. However, still very little sys tematic research in manufacturing engineering or production/operations managemen t (P/O M) has focused on these new types of globalised manufacturing systems, an d little communication is organised between different academic disciplines such as manufacturing, management/ business studies, economics, geography, internatio nal development studies and so on. Many critical issues are still poorly unders tood and are not covered by current research agendas, for example: · properties of international manufacturing network systems in terms of structu ral architecture, dynamic mechanisms, strategic capabilities, strategy processes , new technology, and alliance relationships · knowledge management and organisational learning mechanisms in international manufacturing context, especially in globally coordinated networks at both intra - and inter- organisational levels · global economic trends, regional collaboration, national culture/identity, an d their impacts on industrial sector development, and company’s manufacturin g system design/re-structuring In industry, lack of global vision and appropriate strategies during internation alisation have become major barrier to the effective management of international operations. In academia, limited multi-discipline exchanges have inhibited de velopments not only in each area but also knowledge contribution to industry whi ch could arise from discipline integration. This paper, based on recent years case observations and action research work on manufacturing internationalisation, especially globalisation, introduces an evol utionary process of manufacturing systems. It seeks to explore the external and internal driving forces of the transformation and the responses of manufacturin g systems in terms of static architectures, dynamic mechanisms, and strategic ca pabilities in the evolutionary process. The paper Reviews recent researches on manufacturing internationalisation in dif ferent disciplines to gain a comprehensive picture about international manufactu ring system from different perspectives. Based on the empirical observations of industrial issues and difficulties, a further research framework is proposed to tackle wider issues in international manufacturing covering manufacturing value creation process, internationalisation process, and strategic alliance formatio n process. The paper argues that, besides deep research on three dimensions of international manufacturing system, development of strategy process to synthesis e these three processes is more important in the future research work. It sugge sts that it is necessary to enhance the collaboration between countries and disc iplines, and stimulate explorations of new frameworks that can provide more insi ghts about new manufacturing systems and foresights their development.

In search of currency internationalisation: a perspective from financial openness

This paper examines the role of financial openness for currency internationalisation.We provide a theoretical synthesis on the economic and financial channels that financial openness might affect currency internationalisation.Historical experiences from the UK,the US,Japan and Germany show the essential role played by financial policies to promote one currency’s international status.We collect recent data of a panel of countries to provide an in-depth empirical analysis on how financial openness would affect a currency’s acceptance in international official reserves.We find strong evidence that portfolio positions generally have a larger impact on the currency’s share in international reserves than FDI.Moreover,portfolio positions in the liability side,especially foreign investments in domestic debt securities,have a statistically significant and economically important effect on currency internationalisation.Our results have implications for China,highlighting the specific effects of financial policies on RMB internationalisation.

International policy coordination and RMB internationalisation:theory and historical experience

Based on theoretical logics derived from the literature and the historical experience,we take a deep look at the relationship between international policy coordination and RMB internationalisation.International policy coordination and RMB internationalisation are complements.On the one hand,an effective policy coordination mechanism needs the support of an efficient international monetary system,thus calling for diversification of international vehicle currencies.RMB,supported by solid economic fundamentals,can be a good candidate as one of the international vehicle currencies in the diversified international monetary system.On the other hand,due to the existence of policy spill-over effects,an appropriate coordination mechanism improves policy effectiveness in China,which promotes RMB internationalisation by enhancing China’s economic and financial strength.

Research on Innovation and Entrepreneurship Programme of College Students in China:Taking Wuming Cloud Project as a Case Study

The innovation and entrepreneurship of college students is a new type of education and research model that takes cultivating students’innovative spirit and ability as the primary value orientation and takes the particular group of college students and graduated college students as the central part of entrepreneurship.In order to comply with the national innovation-driven development strategy,colleges and universities also cultivate innovative talents in line with the talent market through innovation and entrepreneurship training.Under the vital innovation and entrepreneurship atmosphere in the country and universities,we fully understand the regional situation of Nanning and Wuming in Guangxi Province and put forward the“Wuming Cloud Project”.The Wuming Cloud Project aims to create a comprehensive international ethnic and cultural park that integrates Southeast Asian flavours,traditional architecture,and ethnic cultures and attracts tourists through diversified cultural experiences,convenient transportation services,and a variety of promotional tools,which will not only promote the tourism and economic development of Wuming but also bring tourists an immersive experience of Southeast Asian ethnic cultures.The Cultural Park is significant to Nanning in absorbing resources from various parties,displaying particular cultures,and promoting tourism and economic development.

Branding of Germany’s Transnational Education and its Potentials in the Arabian Gulf Region

Transnational education(TNE),responding to the growing global demand for education,plays a fundamental role in the current debate on the internationalisation and globalisation of higher education.Conducting a systematic literature review,this paper examines the characteristics of German transnational education,which has little in common with the American and British models,the reasons for its limited presence in the Gulf and its potential for having a stronger footprint.Since education for Germany is a public good,financial gain has never been a decisive factor for German universities to venture abroad.Whilst the Gulf Region is the largest importer of foreign education,German TNE is only represented by one university there,compared to the overwhelming number of US,UK and Australian higher education institutions.Although the Gulf Region is considered as a lucrative and appealing market for foreign education,lack of engagement of German TNE there could be interpreted through public policy-related reasons.Since Germany has already established its footprint in creating a unique brand of TNE,the paper recommends to build upon the country’s expertise in low-risk option for Germany to invest in the Gulf.For this to materialise,Germany must build awareness of its unique brand to stand out among the competition.

Foreign Language Learning at Tertiary Level in Mozambique

More than ever before, multilingualism is a key resource that opens the doors for participation in internationalisation and in the globalization process and participation in the knowledge society. As such, it is of outmost importance that governments consider language learning as an educational priority. Mozambique is no exception to this rule, as it has also already acknowledged the need not only to teach languages of wider communication such as English, French, and Portuguese, but also the Mozambican national languages. The present paper discusses the importance and value that is attached to multilingualism in Mozambique and focuses particularly on Foreign Language Teaching and Learning at tertiary level. This paper reports specifically on data collected through a questionnaire given to first year university students at Universidade Pedag6gica in Maputo, in June, 2008. In addition, it examines the university＇s language policy of providing English language teaching to first year students, focuses on some of the constraints that presently affect the development of productive and receptive multilingualism, and suggests ways of making foreign language learning more effective

Exporting to Internationalise： Only a Small Percentage of Emerging SMEs From Developing Countries Succeed When a Large Majority Fail

Small and Medium Enterprises （SMEs）, account for more than 95% of all businesses in many countries. These foster economic development and are significant contributors to employment and wealth generation. An observed phenomenon is the increased momentum of internationalization of SMEs in the developed world. A concern however, is the small percentage of the SMEs from developing countries emulating this trend. Also unexplained are： （1） What makes a small percentage of SMEs in developing countries succeed in internationalizing their businesses when the large majority fail？ （2） What provides the differential advantage to the growth businesses？ Therefore, this paper attempts to address the research question ＂what impacts the owner-managers＇ （OMs＇） perceptions of internal and external barriers have on the internationalization process of the SMEs in a developing country？＂ The data was gathered from OMs of SMEs using a mail survey. Export growth was used as the dependent variable in the study. The differential performance of growth and non-growth SMEs in foreign markets is elucidated in relation to the OMs＇ perception of informational, operational, marketing, and environmental barriers to growth. Significant differences were found between growth and non-growth businesses in relation to the OMs＇ perception of the above barriers investigated.

A currency basket and future exchange rate arrangements in Asia

Due not only to a dominant role of the US dollar in regional trade and financial transactions but also to de facto US dollar pegged exchange rate policy,Asian countries cannot avoid exchange rate risks between their own currency and the US dollar.In recent years,however,the Chinese government has actively promoted the Renminbi(RMB)internationalisation especially in intermational trade.In December 2015,China introduced a new exchange rate index against a basket of 13 trade-weighted currencies,which can be considered a major turning point from the US dollar standard toward a more flexible currency basket system.However,the estimated implicit basket weights reveal that several Asian economies still tend to stabilise their currencies against the US dollar,while Malaysia and Singapore have stabilised their currencies against RMB in recent years.Since the internationalisation of local currencies and regional monetary arrangements are typically facilitated with each other,further progress of RMB internationalisation is expected to promote a leading role of China in establishing regional exchange rate policy coordination.

Can the Chinese domestic bond and stock markets facilitate a globalising renminbi?

A global renminbi(RMB)needs to be backed by a large,deep and liquid RMB market with a world-class Chinese government bond(CGB)market as its core.It also needs the support from a bigger and more open domestic stock market.China’s CGB market is the sixth largest local currency sovereign bond market in the world.By transforming the non-tradable,captive central bank liabilities into homogeneous and tradable CGBs through cutting the still high Chinese reserve requirements by 1/3,the size of the CGB market can rise by 40%,boosting market liquidity while trimming distortions to the banking system.Also,policy bank bonds may attract foreign investor demand.Finally,a bigger and more open domestic A-share stock market also helps expand the RMB assets in the international investor portfolio.With both bigger bond and stock markets and their higher foreign ownerships following market opening,the combined sum of Chinese domestic bonds and A-shares held by foreign investors may increase five folds during 2018–2025,lifting the RMB asset position in global investor portfolios,facilitating a potential global RMB,while promoting a deeper and more efficient Chinese domestic capital market.This process of liberalising cross-border portfolio capital flows for non-resident investors may bring both risks and benefits to the Chinese economy.

Tesco Strikes Out into Asia

The case looks at the internationalisation of Tesco PLC, a successful UK retailing business, and in particular how and why it has gone about developing its business in Southeast/East Asia. The case is suitable for use with final year undergraduate and especially postgraduate students, in either corporate strategy or international business modules. The case follows Tesco＇s moves into Thailand, South Korea, and most recently China. It is found that the methods of entry to the new markets/countries and strategies used post-entry have varied country by country, culture by culture. The strategies adopted are found not to have been universally successful, which raises questions as to why that may be. It is expected that students will be able to identify the entry methods and reasons for their use; determine the business strategies adopted country by country, explore why they may differ, and locate the influences of the varying cultures. They will be expected to assess how successful Tesco has been in these processes. Finally, they should explore the question whether the giant China market can indeed be ＂an ultimate prize＂ and if so how it should best be tackled. For the time being, South Korea is arguably the most successful part of the company＇s Asian push.

Daraa and the Altered Trajectory of the Syrian Crisis

Daraa City is widely known as the birthplace of the Syrian uprising.The uprising,which was initially motivated by high-minded ideas and opposition to the arbitrary violence of an authoritarian state,rapidly degenerated into a civil war orientated by external agendas and priorities.In this paper,I want to situate Daraa governorate at the centre of this development,with the intention of highlighting how the course of events in this small part of Syria had vital implications for the development of the Syrian Civil War.In seeking to develop an analysis of the interplay of internal dynamics and external influences,i seek to‘reconcile’the‘micro’and‘macro’dimensions of civil war,and also draw on contributions to the peacebuilding literature,and this enables me to reconceptualise the relationship between‘internal’and‘external’drivers of conflict.