Please write a discussion based on this post:

1. International credit management differs from domestic credit management, it involves the management of credit risks across multiple countries and currencies. International credit is known for producing an understanding of the economic and political environments of various countries, in addition to assessing a customer's creditworthiness. Credit management strategies can be influenced by differences in legal and regulatory frameworks, cultural norms, and business practices between countries.
2. For the company Nike, specific risks to consider in international credit management include foreign exchange risks, political risks, and legal and regulatory risks. Nike operates in over 190 countries, exposing it to changes in exchange rates. Political risk refers to the possibility of changes in government policies or instability in a country's political environment affecting Nike's ability to do business there. The risk of noncompliance with local laws and regulations, which could result in fines or other penalties, is included in legal and regulatory risk.
3. Using China as an example, Nike's international credit management risks include economic, political, and intellectual property risks. China's economy is heavily reliant on exports, making it vulnerable to changes in global economic conditions. China's political hazards include regulatory changes, trade tensions with the United States, and potential geopolitical instability. Also, counterfeiting and infringement of Nike's trademarks and designs are examples of intellectual property risks.
4. International credit management is more complicated than domestic credit sales because it involves managing risks across multiple countries and jurisdictions. The COVID-19 pandemic has added another layer of risk to international credit management for companies that do business in China, such as Nike. The pandemic has disrupted global supply chains and altered consumer behavior and preferences. The pandemic has caused economic uncertainty and reduced consumer spending in China, which may have an impact on Nike's sales and ability to collect on credit. Changes in government policies and regulations have also resulted from the pandemic, which may have an impact on Nike's operations in the country. Overall, the COVID-19 pandemic has increased the complexity and risk of international credit management for Nike and other Chinese companies.
5. Risks in international credit management vary by industry, depending on factors such as the level of competition, regulatory environment, and customer types served. For example, the risk of non-payment may be higher in industries that serve small and medium-sized enterprises (SMEs) because these businesses may have more limited financial resources. Healthcare and financial services industries, for example, may face greater legal and regulatory risks. Furthermore, industries that heavily rely on intellectual property, such as technology and pharmaceuticals, may be more vulnerable to intellectual property risks.