Introduction Protectionism refers to a situation in which countries put rules and regulations to protect the domestic market and industries from foreign competition. This is done in various ways, such as imposing taxes on imports, tariffs, subsidies, and quotas (Carvalho et al.). The main objective of protectionism is to enhance...
South Africa The country was first captured by the British in1775 and they gave it to the Dutch in 1803. However, they took it back in 1806, and in 1814, the British had a treaty showing that they owned the region (Educationpubs, 2022). In 1899, there was a war between...
Introduction Engagement in international trade largely benefits all nations around the globe. Indeed, a country can enjoy imported goods that cannot be produced at home or are less expensive than domestic commodities. In this regard, such an advantage of the worldwide exchange of goods is quite self-evident. However, the existence...
Several global and regional trade agreements help the United States carry out bilateral business with member countries under the complicated and ever-expanding body of primary law. Through the laws, the U.S. is a member state to certain international and treaties agreements, case laws in trade dispute settlement, and national legislation...
The Canada United States Mexico Agreement (CUSMA) made three changes to the North American Free Trade Agreement (NAFTA) of 1994. First, CUSMA preserves the state-to-state process of resolving disputes. While the United States wanted to end this initiative, Canada wanted to save and strengthen the system of dispute settlement (Iskra...
Introduction Global trade issues in contemporary international relations are characterized by the opposition of powerful states or unions of states in their attempts to obtain a leading global position. In particular, the latest research findings and geopolitical observations indicate that China has started a new strategy of dominating global trade...
The process of disseminating cultural ideas, traditions, and concepts may vary to a large extent depending on the specifics of the environment in which it occurs, the people that represent it, and a variety of other factors. However, trade is, perhaps, one of the most natural ways of spreading culture,...
The branch of international political economy (IPE) stands for the patterns and practices that tend to regulate and describe international relations in terms of economic welfare aimed at minimizing the tension and securing benefits for every nation tackled. The three conventional theoretical approaches to IPE include liberalism, mercantilism, and the...
Introduction The 21st century has been characterised by rapid globalisation, which has strengthened the connections between countries. In such an environment, international trade has acquired particular importance due to a vast pool of emerging opportunities. The market scales have been on the increase, allowing sellers to encompass larger customer bases....
Introduction The following is a discussion on the international finance issues and their impact on foreign and domestic corporations in any given country. The international finance or trade in the global arena has a huge influence on the domestic arena. The international finance is influential in the world more than...
Introduction A financial market is a market for funds; an organizational device that brings sellers and buyers together. The parties in a financial market are lenders and borrowers, who come together to meet their financial needs. The operations of the financial markets of any country govern its economic development in...
Introduction International trade involves the exchange of capital goods and services on a global scale that is across international borders (Acs, Morck, Shaver, & Yeung, 2007). The international trade has been present for quite a long time but its importance and impacts have been emphasized in the recent globalized world...
In the year 1973, oil accounted for 46 percent of the world’s total energy. By the year 2005, its share had heavily declined by 35 percent. Basically, Oil is the blood of the Earth. For over 100 years, the United States has been the leading oil manufacturer in the Diaspora....
Introduction The world has witnessed a wide range of efforts to promote free trade throughout history. While there are several reasons, which contribute to this phenomenon, it is worth noting that the realization of secure trade liberalization has always been the driving force. However, several debates have been tabled about...
The WTO was established as one of the outcomes of the Uruguay round of multilateral trade talks in the year 1995 (Hoekman, Mattoo and English 2002). The Uruguay round of multilateral talks was concluded in 1994 following eight years of complex and contentious negotiations. These talks are a major landmark...
Introduction There exist various forms of protectionism that are used by nations to restrict trade. Among these forms of protectionism, one of them, which is common, is imposing tariffs on the imports of a country. The definition of a tariff is given as “a tax imposed on imported goods and...
Introduction International business law is an extremely critical element in today’s business world. It can be defined as the law that governs international business and all activities associated with it. International business on the other hand entails any profit-oriented business association that is conducted among different countries / across borders....
Background Information United Airlines is one of the leading airlines in the United States. The corporation was founded in 1926, and it is headquartered in Chicago, Illinois. The estimated revenues of the business are more than the US $38.000 billion annually (“United: Corporate Fact Sheet” par. 3). In spite of...
Introduction Turkey is a country with an estimated population of 77.7 million people, and a workforce population of about 20 million people. The country has been undergoing some trade and economic reforms in the last two decades that are a primary reason for its growing commerce and increase in its...
Introduction A country’s economic stability or instability is determined by various factors in the economy, which guide the economic goal of a country. Various scholars and researchers have developed economic concepts used to explain both the macroeconomics and microeconomics of individual countries. The following discussion analyzes different economic terms and...
Introduction Free Trade Agreements remain an important contributor to the growth and development of global trade in the modern world. Bilateral and multilateral FTAs are increasingly becoming an important vehicle for trade policies and diplomacy for various nations throughout the world (Levy 2009). In fact, a good number of FTAs...
Abstract The World Trade Organization was established in the year 1995 so as to control international trade. This paper shall discuss the history of contemporary international law, the World Trade Organization (WTO) and the legal aspects that control world trade and the WTO. History of Contemporary International Trade Law The...
Introduction Greenhouse radiations and climate change are key issues affecting countries globally. China and Australia, like any other countries in the world are searching for solutions in addressing greenhouse effects. As a global response to climate change, schemes such as greenhouse trading are in place to mitigate carbon emissions and...
Introduction Trade is an important component in the relationship between two countries. It is through trade that goods which are manufactured at one place find their way to places that they are not manufactured. Trade is also responsible for the movement of people from one area to another either on...
Proposed Title of the Research Study The Impact that local and international laws between the UAE government and foreign investors have on the rate of trade within the country. Summary of the Proposed Study In summary, this study intends to find if there is a correlation between current trade laws...
Introduction The United Nations Convention on Contracts for the International Sale of Goods (CISG, 1980) has prescribed detailed rules concerning the duties of the seller in a transaction covering the sale of goods across borders. There are provisions in the CISG, which deal with the remedies available to the buyer,...
The world of business has experienced remarkable advancement in the 21st century. This is primarily due to increased diversification of markets in the contemporary economies where business entities are currently focusing on global markets rather than limiting themselves to domestic and foreign markets (Goddard 4). The changing trends in the...
Abstract Transaction exposure refers to the potential to gain or loose in a contracted for near term cash flows such as foreign currency accounts receivable and accounts payable among other debts (Moffett, Stonehill, and Eiteman 220). The exposure is caused by foreign exchange rate variations in the amounts that are...
Introduction International trade is the buying and selling activity that takes place between two nations. This is met by various challenges including the different laws that come from with traversing the various states and countries. This paper seeks to explain the legal distinction between transfer of property and transfer of...
Introduction After a fifteen-year process, China gained accession to the WTO on 11 December 2001, a step that would lead to massive legal and policy reforms in the following decade. While the liberalization of the Chinese economy was a process unilaterally undertaken years beforehand, accession to the WTO formalized Chinese...
Countries engage in bilateral trade relationships based on the interplay of serval factors. A company should be able to produce a particular product in quantities that meet or satisfy the local demand before resorting to exportation. Besides, the country in question might need to weigh the cost of producing the...
Introduction Since man existed there has been trade between different people and countries: from the Greek and Persian to Romans which highlighted the economic importance. Goods that were traded were mainly timber, textiles and precious metal. During this period they made business transactions using credit facilities. The First and the...
These days, not only is France one of the leaders among European countries, but it is also one of the most modern nations around the world. France, being a permanent member of the United Nations Security Council, the G-7, the G-20, the EU, NATO, and other multilateral organizations, plays an...
The economic conflict between the United States and China has escalated to its maximum this year with new accusations and import tariff threats. The concept of fair trade implies transparent policy in international trading activities, while free trade is an agreement between countries on an unlimited movement of goods and...
Analytical Report Canada has become one of the most desired countries to invest in across the decades. The reason for that is rather simple: Canadian labor is well-educated, and the economy is strong with its international business experience that had grown quite wealthy as of late (“Why invest in Canada?”...
Introduction World Trade Organization (WTO) is a transformation of GATT (General Agreement on Trade and Tariffs (GATT). GATT was formed in the year 1947 for the promotion of world trade at the global level especially among the member countries. GATT is the result of restrictions imposed by countries on the...
Increases in the intra-industry trade between the US and Canada led to enhanced productivity in the Canadian manufacturing sector. Tariff reductions associated with trade liberalization in Canada resulted in a surge in exit rates among non-export-oriented manufacturers with moderate production (Lileeva, 2008). The result meant that more market share had...
The article under consideration published at the beginning of the month in the Wall Street Journal illustrates the stock market dependence on political risks. The report closely relates to Chapter 6 in the “Bonds values and yield” section. According to Verlaine (2020), the U.S. stock index was raised earlier on...
Global trade refers to the transfer of goods and services across international boundaries. Trading across borders has existed for long with historical accounts revealing that humans depended on trading to acquire the commodities necessary for life. Ancient international trade occurred between kingdoms, and individual merchants controlled the transactions. The traded...
Introduction Agricultural subsidies are the financial assistance provided by the government to the farmers through sponsorship of price-support programs (CE, 797). It was initially introduced by industrialized countries in the 1930s to reduce the volatility of prices for farm products and stabilize the income for farmers. In countries such as...
Introduction As a result of the prevailing global economic crisis, there was a resultant reduction in terms of the output growth in the world trade by a factor of 1.7 percent, down from a factor of 3.5 percent that was recorded in 2007 (The Economist 2009 p. 3). Projections are...
Technology has enabled the business to be carried out in a way that market products and services are traded all over the globe. Alliances and partnerships have been formed between and among countries throughout the world. This is the contemporary nature of a globalized economy as opposed to an international...
Introduction The North American Free Trade Agreement (NAFTA) is an agreement between the three northern countries that is Canada, Mexico, and the United States of America. The North American trade bloc was established in the year 1993 by the presidents of the countries is Bill Clinton of the United States,...
This chapter provides a background to the study, discusses the research problem, explains the general purpose of the study, highlights the research objectives and questions, describes the research approach, and gives an overview of what each chapter will contain. General Introduction and Background Success in global economic development hinges on...
Main Features of Gulf Cooperation Council (GCC) Economies The GCC countries are high income hydrocarbon-based economics. This is because of high economic and current accumulation of surplus account among the Gulf economies countries in the previous years (Miller & Kaia 2006, p. 324).The public expenditure derived primarily and social infrastructure...
The World Trade Organization is an international organization with global operations and is charged with the responsibility of handling rules of trade among member countries. The core elements of the World Trade Organization include negotiating agreements that have already been signed by a majority of the trading nations in the...
The History of Global Trading The global trade commenced long ago with the initial trade activities involving the exchange of goods with goods, commonly known as the barter trade. The barter trade was universal in the period up to the 15th century. However, it was soon replaced by the Mercantilism...
Introduction One of the main drivers of national economies around the world is good and reliable international trade partnerships. According to economic experts, international trade is very important to a country’s economy with regard to expanding the market for its local products, as well as creating a good business environment...
