I have used Charles Hill's textbook since 5th edition - it is now in 8th. While some aspects do dip into the arcane, especially economic theory, the book is the best I have found to produce a solid basis for an introduction to international business.
That said, in my view the textbook is not enough. The instructor must use resources such as the NY Times, WSJ and Economist. This is a very fast changing business field, and is headline driven. Relying solely on this textbook offers the students too little insights into fast changing paradigms and models.
Warning to instructors - the class supplements (Ppt charts, exam questions) have gotten weaker and you will need to supplement them with the above resources to ensure a vibrant and modern classroom experience.