Japan and Taiwan have increased their exports because of a relatively high demand for their goods form the United States. This situation has boosted the status of their economies especially with regards to export trade. In October it was established that Japan’s export trade had increased by approximately 18.6% compared to the previous years and this has translated into continued economic growth in the country. On the other hand, Japan had its export growth increase by approximately 3.2% in October. When comparing domestic demand to foreign demand in Asia, the latter is higher. The implication of this is that the global market can present opportunities that are better than the local opportunities.
U.S. is in economic recovery and they have set robust fiscal and central-bank policies that pose a risk to global economic growth. In effect, this does not help the Asian economies because most American consumers are trying to reduce or eliminate their depts. However, this scenario is expected to be an opportunity for Japan to increase its exports. Therefore, this underscores the fact that economies should be strategic to maximize their sales especially when an opportunity presents itself.
Japan has majored in automobile manufacturing and exports. This indicates that their automobiles are very competitive, which is a crucial requirement for any commodity in the global market. On the other hand, Taiwan, which is a major exporter of electronics, may face stiff competition because Americans have increased their overall demand of electronics from Europe and China. Further, this underlines the fact that Taiwan should steer its relations with the U.S. in addition to finding other realistic ways of enhancing competiveness. This is applicable in other businesses because each and every business should maximize its opportunities besides engaging in extensive marketing analysis to develop competitive advantages. In addition, businesses and nations that engage in export trade should produce quality products to ensure that they can attract and retain their customers.