If it seems like we're beating the global trade issue to death here on the blog, well, I just read the transcript from today's Coca-Cola (that great American brand) earnings conference call.
I copied and pasted below a few paragraphs that might have you appreciating where we're coming from: emphasis mine
"...we were a little softer in the fourth quarter in North America"
"We seem to have had a good Chinese New Year. You never quite really know until the end of February, but it seems like it has been a strong Chinese New Year. Brazil is looking a little better. Mexico seemed to have started well given some cold weather at the back end of last year."
"We've baked in what we see and what we believe is likely to be the softening of the global macro outlook and in the countries which are more apparent."
"I think that some of the prudence is being derived from developing and emerging markets, whether it - that be some of the ones like Argentina or Turkey, aforementioned Middle East and some parts of Africa as well."
"Obviously in aggregate juice will do better because we'll have the incorporation of tea which is a great business in West Africa."
"We clearly have contingency plans for this business and for our other businesses in the UK and in the European environment."
"And I think with the improvements in the macro conditions in Brazil that business is starting to do a lot better and it's a multi-channel business and they distribute the beer only in some of those channels."
"It's been very successful whether it was North America, the creation of bottlers like European Partners or the Japan bottler."
"And that leaves us obviously with the Southeast Asian set of bottlers. Obviously, we'll be thinking about what's the right strategic direction for that part of the world."
My point? Imagine Coca-Cola (or virtually any other iconic U.S. brand) without the global market!