This revision introduces readers to a manager's perspective in the fields of international payments, international trade, and international investment. Focusing on elements of the international economic environment that affect managerial decisions, it forms links between economic analysis and managerial problems. New material in this edition includes updated information from Eastern and Western Europe and developing countries such as Indonesia and Sri Lanka, descriptions of strategies, structures, practices and effects of multinational enterprises and material on new cases illustrating problems faced by managers in international business.