INTERNATIONAL TRADE
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Global Trading Forecast: Foreign trade will play an increasingly important role in Orange County’s economy, according to a UC Irvine survey released Friday.
Global trading remained “very robust” despite the recession, said Kenneth Kraemer, a UCI professor of management. In the next five years, he expects that about 50% of the county’s firms will be engaged in trading, with the greatest growth coming in trade with countries in the Far East. Today, about 40% of the county’s firms are involved in international trade, he added.
“The European market is one where we are seeing growth by already entrenched companies, but new firms aren’t going into that region,” said Kraemer, the survey’s co-director.
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