On a visit to North Korea in January, the executive chairman of Google (GOOG), Eric Schmidt, warned the country of the need for a greater openness with regard to access to the Internet. He suggested the country open its doors to information technology in order to decrease the isolation and economic decline. While that seemed like the major objective of the strange visit in the first week of January, Mr. Schmidt’s visit will likely help Google transform itself as an international negotiator, rather than just another ‘major tech company’. In this article, I will discuss how Google’s role as an international negotiator will help it to forge new business relationships across the world.
What Was the Visit All About?
The visit was aimed to pressure North Korea to abandon its nuclear policy and arms, allow Internet access and covertly help Google put the infamous labor camps on Google Maps. Eric Schmidt was accompanied by former New Mexico Governor, Bill Richardson. Richardson and Schmidt delivered their message to the Foreign Ministry of North Korea, the academics and representatives of the government. The message was clear: you have to allow people from North Korea to have access to the Internet. According to Schmidt, as the world becomes increasingly connected, the decision by North Korea to remain virtually alone will strongly affect its physical world and its economic growth, hindering its economic recovery.
How Can Schmidt’s Visit to North Korea Help Investors?
For investors it is pretty obvious what Schmidt is doing: conquer a new market. To continue reading, click here.