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Georgetown Journal of International Affairs. Journal Statistics show that the combined income of the top global enterprises now surpasses the combined economies of countries. Ivester Over a period of time, there will be a growing understanding that both government and business have a role to play in bettering the lives of the people in a given community. We teach entrepreneurial skills to people, including everything from manufacturing to selling skills, which ultimately creates jobs in the economy and contributes to the overall tax revenue of the country. We see the roles as very complementary. One group, government, setting the context and rules for everyone to play by, and a company like ours coming in and providing capital and the underlying entrepreneurial skills to build commerce. Journal But the United States government frequently takes unilateral trade sanctions against countries such as Cuba and Iraq, that are counter to the wishes of its global trading partners and American corporations. Do you believe that trade sanctions are an effective policy tool? Ivester The world is changing and trade sanctions are far less effective than they were at one point in time. One example is Cuba. Although I have not been to Cuba, I understand that there is wide availability of international products. I think the real question is whether one country can have an economic impact of significance when other countries do not honor the trade sanctions. Journal Does it hurt American corporations when the United States takes a stand so counter to the ground rules that other countries are laying for their corporations? Ivester I can not say that it necessarily hurts, but rather delays. Ultimately, if sanctions were lifted, we would have a late start, but could probably make that up. That is a pretty positive thing. If the American government gets the added benefit of not having to worry about missiles, that is an overall positive as well. We believe in free trade and the free flow of goods across various economies. In terms of governments, we just need to do a better job of educating them on the value that we bring to a particular economy. Within the European Union, for example, we know that we have a significant economic impact and that we are positive in terms of employment. However, we probably need to do a better job of explaining ourselves to those governments. Ivester Any time political systems undergo transition it is incumbent upon the company that is dealing with that political organization to educate and inform them of the benefits that they bring to a given economy. We now find ourselves having to begin the education process and begin the communication process at a higher level. We certainly will undertake to do that. At this point in time it has not slowed our growth any, and it certainly has not dampened our enthusiasm for investing in Europe as a whole. How can U. In China, Chinese operate the bottling business and the employees are overwhelmingly Chinese. That is the case in France, that is the case in Belgium, that is the case in Germany, or Brazil, or any other place we operate. That ultimately is the best thing we can do. Do you view this as a logical consequence of globalization, and how do mergers impact competition and expansion of global corporations? Ivester There is no doubt about it; you are seeing large companies extend their distribution into other countries. A lot of activity is taking place. Ultimately, such activity is good for consumers because it brings them a higher quality product and better service with better value. It does not do anything negative. It does not hurt employment, nor does it lessen tax collection. I think that as governments begin to understand the benefits of some of those mergers, they will be more supportive of them. The DaimlerChrysler venture had no problems, probably because a German company was the parent company. The same rules that apply to that merger actually apply to everything else. It is really just a matter of communicating to the government the benefits that can emerge from such a transaction. Ivester Our trademark is the most identifiable global trademark. It probably represents the best of American business in terms of what American business has done to promote commerce and transfer skills to local environments. Therefore, it boils down to a communication issue: The challenge is to communicate the benefits we bring to the local economy. During the recent economic crises in Russia, for example, Coke was recognized as the most trusted company in Russia. Ivester Our company was built on the backs of people who had the willingness to stick with an investment once they had made it. If you go back and look at some of our major countries today, such as Japan, Germany, Argentina, Chile, Brazil, or Mexico, there were times when it did not look like that was a positive investment, but our company and our previous management had the foresight and willingness to stick with those investments during those difficult times. We now enjoy a very prosperous business in Japan, not so much because of what we do in Japan today, but because of the commitments of our forefathers who stuck with it in the late s and early s. Why does Coke believe this activity is worthwhile and how does it fit into the overall company business strategy? Ivester Five percent of the global population lives in the United States, and 95 percent lives outside the United States. As those organizations look to expand their businesses, they come to us for expertise and guidance. We do a lot of work with our customers as they look to the international markets. Expansion is also beneficial to the local economy. As development on the local economic level increases, people can afford to spend more in all sectors of the economy. Journal On the other hand, critics often argue that multinational corporations exploit countries with cheap labor and weak environmental regulations. Ivester We are very proud of our environmental record because we follow the same environmental standards both inside and outside the United States. In terms of labor, we do employ labor at the local level, and we pay good and competitive wages in the local environment. But, at the same time, we sell our products in that country for local prices. Our products typically are produced, sold, and consumed in the same country. Yes, in Vietnam, for example, we use local labor, but we also sell the product into the local economy so that lower labor costs benefit the consumer as well. As wage rates rise and as the economy develops, we will continue to be competitive and will pay the going rates in the marketplace. Journal In the next 20 years, what do you believe will be the largest growing overseas market? Ivester Most people would give you Asia as the obvious answer because of its vast population. Certainly, Asia is a priority market for us. We have organized our business in six geographic and business groups, each of them having the opportunity to invest capital, and the opportunity to independently develop their business. We are spending a lot of time and attention toward growing a business in Africa, for example, because we think there is vast potential for a beverage business in Africa. We want to make sure that just because there is a glaring opportunity in one part of the world that we do not miss the opportunities existing in other parts of the world. Ivester I think the best predictor of our future is probably to look at our past. Between ten years ago and today, our business has doubled, and I see no reason why our business can not double over the next ten years as well. Ivester was interviewed by Kathryn Remus and Karim Chrobog. Both are juniors in Edmund A.