ASEAN Free Trade Area

Countries trade with each other when they lack in resources and also are inefficient to satisfy their own wants and needs. The production of goods and services in countries that need to trade is based on two fundamental principles, first analysed by Adam smith in late 18th century. Adam smith focused on only one factor of production i.e. labour. The other important principle is comparative advantage by David Riccardo, who also considered labour as the only unit of input. There are many advantage…

regulations from country to country are numerous and complex. These and other issues in the regulatory environment that concern multinational firms are briefly discussed here. Countries often impose protectionist policies, such as tariffs, quotas, and other trade restrictions, to give preference to their own products and industries. The Japanese have come under much…

Formation of Regional Trade Blocs WHY DO BLOCS TRADE ? [Paper 1] The basic question we try to address in this paper is whether regional trade agreements affect multilateral trade liberalization i.e, whether Minilateralism and Multilaterism are friends of foes. We also try to find out the various reasons responsible for the formation of Regional Trade Blocs and Free Trade Agreements. MINILATERALISM vs MULTILATERALISM There are two usual ways in which the respective governments might…

Pakistan’s international trading policy consisted of ensuring a highly protective trade regime until the late 1980s. Tariff rates were excessively high and non-tariff barriers kept competing imports away from the domestic markets. It was only in the 1990s that trade liberalization policies were initiated. During the period of protection the manufacturing and tax revenues grew by less than 5% annually. Once the tariff reforms were adopted manufacturing, revenues and exports have all grown in…

Born on April 12, 1777, Henry Clay was a devoted nationalist.. He was very influential in the United States sectional conflict, economic prosperity, and development of its infrastructure. When Clay was 4 years old, his father died and he was considered an orphan, even though his mother did not die until 1829. Clay only had three years of formal education, yet the Virginian still became a lawyer by self educating himself. At the age of 20 years, Clay migrated to Kentucky to begin his career as…

describe the new economic system based on the merchant trade using gold and silver. Trudy Mercadal describes mercantile as a “term to refer to an economic policy designed to enrich a nation by increasing exports and decreasing imports...” which “...sought to create a beneficial balance of trade with two purposes: attracting commodities like gold and silver and increasing domestic employment” (Mercadal). Adam Smith refuted this system and encouraged a free-market with minimal government…

MANITOBA PORK MEXICO EXECUTIVE SUMMARY In order to truly consider the expansion of Manitoba Pork to the country of Mexico, it is important to understand the company as a whole and the country in which the expansion will take place. Factors that have an impact on the final decision such as the company’s history, competition, annual revenues and the products/ pork parts exported will be revised in details. The countries cultural, political and economical information will also be reviewed.…

In his article, ‘Humanitarian Disintervention’, Nili (2011) presents a deontological argument on the primary significance of ‘negative’ duties during humanitarian crises. Using Pogge’s rationalisation of negative duties and Wenar’s legal framework, Nili argues that affluent liberal democracies and their citizens are accountable for international human rights violations as they breach their negative duty “not to harm” by indirectly sustaining oppressive regimes (pp.33-34). Nili suggests that…

movement into economic, financial, trade and communication integration” (Greg IP 2017). It also looks into the broader interconnected and interdependent world with free trade of capital, goods, and services across nations, but it is limited to the movement of labor making globalization the recent national trends. Today, nationalists are still looking to end many global structures for example; EU, the World Trade Organization, NATO, U.N and lastly the North American Free Trade Agreement. Now,…

In Sociology is a Martial Art, Bordeieu asserts that the current economy favors increased production and consumption regardless of the social costs. Rather than favoring the happiness of the populace, this economy seeks to maximize gains in any manner possible, so long as it can justify the social costs with increases in production. This creates a paradox of economic benefit and social benefit, and while economic benefit is favored in the current day, the two are not mutually exclusive. The…