Henry C. Steele

Edited by Oliver H. M. Yau and Henry C. Steele
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Henry C. Steele was Head and Associate Professor at the Department of Marketing and International Business, Lingnan College, Hong Kong.

According to Henry Steele, an associate professor at the Department of Marketing and Research at Lingnan College in Hong Kong, managers at some companies may be reluctant to discuss their deals because countertrade is generally viewed as restraint of trade.Other finance executives fear that, if word got out that their company accepted non-cash payments, truckloads of refrigerators would start showing up at the factory gate.Still others say that, given the current economic climate, barter gives them a sizeable competitive advantage--an advantage they'd just as soon not share with media types.Says Steele: "For foreign companies looking for international opportunities, offering a countertrade arrangement may give an advantage over those who don't."In a recent survey of corporate executives in Hong Kong conducted by Steele, over half said they believed countertrade improved a company's competitive position.

But for companies operating in countries with hard hit currencies, barter goes beyond mere competitiveness.It can spell the difference between getting by and going under.Not surprisingly, government leaders in South Korea, Malaysia, Indonesia, and the Philippines have recently stepped up efforts to promote countertrade."For a country experiencing difficulties," notes Steele, "countertrade may be preferred over non-countertrade deals."Officials in Thailand have gone further than just promoting.

According to Henry Steele, an associate professor at the Department of Marketing and Research at Lingnan College in Hong Kong, managers at some companies may be reluctant to discuss their deals because countertrade is generally viewed as restraint of trade.Other finance executives fear that, if word got out that their company accepted non-cash payments, truckloads of refrigerators would start showing up at the factory gate.Still others say that, given the current economic climate, barter gives them a sizeable competitive advantage--an advantage they'd just as soon not share with media types.Says Steele: "For foreign companies looking for international opportunities, offering a countertrade arrangement may give an advantage over those who don't."In a recent survey of corporate executives in Hong Kong conducted by Steele, over half said they believed countertrade improved a company's competitive position.

But for companies operating in countries with hard hit currencies, barter goes beyond mere competitiveness.It can spell the difference between getting by and going under.Not surprisingly, government leaders in South Korea, Malaysia, Indonesia, and the Philippines have recently stepped up efforts to promote countertrade."For a country experiencing difficulties," notes Steele, "countertrade may be preferred over non-countertrade deals."Officials in Thailand have gone further than just promoting.In an attempt to stem the outflow of foreign currency, government authorities will soon make it compulsory for state-run companies to secure countertrade for 50 percent of the cost of deals over $300 million bath (US$7.7 million).

According to Henry Steele , an associate professor at the Department of Marketing and Research at Lingnan College in Hong Kong , managers at some companies may be reluctant to discuss their deals because countertrade is generally viewed as restraint of trade.Other finance executives fear that , if word got out that their company accepted non-cash payments , truckloads of refrigerators would start showing up at the factory gate.Still others say that , given the current economic climate , barter gives them a sizeable competitive advantage--an advantage they'd just as soon not share with media types.Says Steele : For foreign companies looking for international opportunities , offering a countertrade arrangement may give an advantage over those who don't. In a recent survey of corporate executives in Hong Kong conducted by Steele , over half said they believed countertrade improved a company's competitive position.

But for companies operating in countries with hard hit currencies , barter goes beyond mere competitiveness.It can spell the difference between getting by and going under.Not surprisingly , government leaders in South Korea , Malaysia , Indonesia , and the Philippines have recently stepped up efforts to promote countertrade.For a country experiencing difficulties , notes Steele , countertrade may be preferred over non-countertrade deals. Officials in Thailand have gone further than just promoting.In an attempt to stem the outflow of foreign currency , government authorities will soon make it compulsory for state-run companies to secure countertrade for 50 percent of the cost of deals over $300 million bath ( US$7.7 million ).