An ever-growing world population means that there are countless opportunities for American firms to conduct business abroad, especially in developing nations. Use the Internet to research population and GDP trends around the world. Based on your findings, select five nations not mentioned in Exhibit 3.1, and investigate them further as potential markets for American business. Consider their resources, trade agreements, social structures, and overall business environments. Briefly explain why each of these five countries might or might not be a viable option for a new American business venture.

Five countries that American business could consider to do business with:

Ireland: population growth is not very high, but it's still among the highest in Europe. Corporate tax laws are very favorable, and the population is English Speaking.United Kingdom: the United Kingdom is one of the closest allies of the United States from every point of view. Now that this country has left the European Union, new opportunities for bilateral relations open up, both for the U.S. government and for American businesses.Azerbaijan: this country in the Caucasus region has been developing very fast, partly thanks to its oil and natural gas resources. The growth of the Middle Class, and more favorable relations with Western countries represent new opportunities for American businesses.Chile: Chile is Latin America's most developed country, with a growing Middle Class that demands more and more goods and services. This is obviously a potential market for many American Businesses.Colombia: Colombia is one of the most stable Latin American countries when it comes to the economy, and the political relations between this country and the U.S. are very good. American business can also get advantage of the U.S.-Colombia trade agreement.