Now the world is rebalancing - power and wealth will become more evenly distributed across countries.
The disparity in wealth, language, and culture across countries raises a number of hurdles.
The first is that it is essentially like strategy in general, multiplied across countries.
FORBES: International Business Strategy: A Journey Of Its Own
The extent of it will vary, of course, both across countries and by sector.
If they did not, changes in income distribution would have been much more uniform across countries.
Prescott points to the period before 1800 when living standards varied little across countries and over time.
Scholars have long documented that multinationals are adept at arranging their affairs to undo differences in taxation across countries.
To make comparisons in living standards across countries economists use specially-adjusted exchange rates.
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Limited attention is paid to the opportunities that international activity offers, by taking advantage of similarities and differences across countries.
FORBES: International Business Strategy: A Journey Of Its Own
The Batten Institute recently released a report analyzing clean energy patents across countries of the world (see here for the briefing).
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"They are much more split across countries, age and gender, " she says.
Expenditure patterns vary radically across countries, particularly between rich and poor countries.
This makes it necessary to compare happiness and political institutions across countries.
What we have found is that the level of entrepreneurship across countries varies and that high impact entrepreneurs are a rare breed indeed.
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Moreover, the economists used Gallup data and the venerable Eurobarometer survey to establish that across cultures, across countries, across continents, money buys happiness.
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There is tremendous variation in the prevalence and availability of fake drugs within and across countries, according to Kubic, whose group tracks counterfeiting incidents.
The former affords scale and scope, whereas the latter provides access to multiple and varied resources, learning opportunities, and the ability to arbitrage them across countries.
FORBES: International Business Strategy: A Journey Of Its Own
Oxford Economics built a unique global ranking model based on a weighted composite index to compare and benchmark employee diversity across countries, industries and occupations.
The survey uncovered some interesting differences across countries and cultures.
Over the past few decades, a political, economic, social and demographic change in many parts of the world has stimulated migration of people to cities within and across countries.
Thus the price of a Big Mac, a good that is (somewhat) identical across countries, would be an effective barometer of what exchange rates between countries should look like.
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Even as human resources policies work to push women up the ladder, many reports today confirm that the gender gap remains: Men earn more and rise faster across countries and industries.
Another is how the portfolio is positioned across countries.
An even stricter test of capital-market integration, and the one on which the flows of saving and investment really depend, is that real (ie, inflation-adjusted) interest rates should be equal across countries.
The report emphasises the huge disparities in research capacities across countries and the fragmentation of knowledge that hamper the capacity of the social sciences to respond to the challenges of today and tomorrow.
They track how unemployment has changed over time in the sample as a whole, and then they look at how its evolution differs across countries, according to how rigid their labour markets are.
There is a broad consensus about the importance of fiscal sustainability, but the precise timing and sequencing of that consolidation should vary across countries and be calibrated to maintain the momentum of private sector recovery.
WSJ: Lawrence Summers and Timothy Geither: Our Agenda for the G-20
While it makes sense for The Economist to compute a Big Mac Index for a product that is basically the same wherever it is sold, price comparisons of services that are highly differentiated across countries are less revealing.
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