It is now two decades since I began work on the first edition of International Business: Competing in the Global Marketplace. By the third edition the book was the most widely used international business text in the world. Since then its market share has only increased. I attribute the success of the book to a number of goals I set out for myself when I embarked on the first edition of the book. Specifically, I wanted to write a book that was comprehensive and up-to-date, went beyond an uncritical presentation and shallow explanation of the body of knowledge, maintained a tight, integrated flow between chapters, focused on managerial implications, and made important theories accessible and interesting to students. Over the years, and through eight editions, I have worked hard to adhere to these goals. It has not always been easy. An enormous amount has happened over the last two decades, both in the real world of economics, politics and business, and in the academic world of theory and empirical research. Often I have had to significantly rewrite chapters, scrap old examples, bring in new ones, incorporate new theory and evidence into the book, and phase out older theories that are increasingly less relevant to the modern and dynamic world of international business. That process continues in the current edition. As noted below, there have been significant changes in this edition, and that will no doubt continue to be the case in the future. In deciding what changes to make, I have been guided not only by my own reading, teaching and research, but also by the invaluable feedback I receive from professors and students around the world who use the book, from reviewers, and from the editorial staff at McGraw Hill.
