The National Bank of Belgium is holding its biennial conference on 14 and 15 October 2010 on the topic: “International trade: threats and opportunities in a globalised world”.

 

The last few decades have been marked by a steady rise in international trade flows. There has also been a surge in foreign direct investment and international outsourcing. Countries like China and India have emerged as new international challengers. This phenomenon of increasing globalisation poses threats as well as opening up opportunities for industrialised economies. It affects firms' performance in general, and their international competitiveness in particular. It also bears significant consequences for labour market outcomes.

The conference gathers together academic papers that investigate these questions. Eight empirical papers using firm-level data for Belgium examine the following questions in particular.

What business strategies are successful for penetrating new foreign markets? How do firms choose between exporting or investing abroad? What is the optimal decision on the quality and composition of the product portfolio? What factors underlie the recent increase in international trade in services?

How do firms react to stronger competition from emerging countries in order to maintain or boost their international competitiveness? Are unskilled jobs threatened by the import competition from low-wage countries? Do multinational companies manage the labour force any differently from domestic companies?

Four internationally-acknowledged academics provide a broader and complementary view on these issues.