McDonald's, Philips Electronics, 3M International and many other similar well known global corporations are operating in Central and Eastern Europe. Some countries in the region are still recovering from decades of command economies
What makes the region so attractive for global business corporations?
The extraordinary political and economic reforms that swept through Central and Eastern Europe in the 1990s attracted the attention of many corporations toward the new 430-million person market. The transition in the region from command to market economies has toppled a number of entrenched institutions. New pacts such as Central European Free Trade association (CEFTA) are being formed. The signatories are pledging cooperation in areas such as infrastructure and telecommunications. The governments of Russia and Belarus agreed to form a customs union and remove border posts between their two countries. Ford opened a $10 million vehicle assembly plant outside Minsk, predicting future economic growth in that region. The markets of central and Eastern Europe present interesting opportunities since they are in the process of transition. Also, with wage rates in these regions being much lower than those in Spain or Portugal, the region offers attractive locations for low-cost manufacturing.
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What will be an ideal response?
Another name for the statement of financial position is the
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