International trade

GATT is a multilateral agreement with an object to liberalize trade by eliminating tariffs, subsidies, import quotas and the like. If a country felt that one of its trading partners were violating GATT regulations, they could ask the Geneva-based bureaucracy to have GATT organize an investigation. If the complaints were valid, member countries could be asked to pressure the offending party to change their policies. If they did not comply, they would be asked to leave GATT. During the 1980s and…

North American Free Trade Agreement. This agreement eliminated tariff barriers between Canada, Mexico and United States. Clinton’s relationship with congress was pretty good until his allegations and later decision to be impeached for the Lewinsky scandal. Clinton entered the presidency with a focus on domestic policy and he did not plan on deviating much from the existing foreign policy unless it would benefit the United States economy. Clinton felt passionately about opening trade. On big…

The General Agreement on Tariffs and Trade was the first one of its kind to ever be created. It included 23 countries and was to function as the first worldwide multilateral free trade agreement. The agreement itself was formed not too long after world war two and was in effect from 30th June 1948 and lasted until 1st January 1995 whereby it ended as a result of being replaced by the World Trade Organization. GATT itself was a set of multilateral trade agreements that were aimed at the abolition…

for trading between countries is because they differ from each other. They trade to achieve economies of scale. These trading activities can cause trade balance and each country will benefit from international trade if they make specialization to produce goods that have a comparative advantage, or import goods that do not have a comparative advantage. Furthermore, there are several factors that can affect international trade, such as, the desire to expand the market, increase foreign exchange…

Free Trade or Isolationism In principle, we can take for granted that free international trade brings the maximum benefit to world economy. If two countries completely remove trade barriers on the way of commodity streams, both of them will be the winners, and total growth rate of economies of these countries will be at maximum. However, it is never impossible to claim that the prize from free trade will be identical to both countries, most likely one country will win more, than the other will,…

Moreover, as people lack jobs, they begin to perceive low quality items, as acceptable. This new perception can be great or bad news for international businesses, depending on their products and their prices. Those international businesses which tend to be bring products into the new market (country) that are cheaper than their domestic items, will be secured for business as their products will become more appealing to the consumers and less competitive than the native, Australian ones. On the…

One of the major reasons of this liberal inclination is that major international institutions founded on liberal principles, like the World Bank and the United Nations Development Programme “offered valuable consultation and guidance” according to the Commission report. The Commission identified three major “roots” of the…

The role of a freight forwarder comes to picture in displaying the necessary complimentary requirements involved in international trade. Hence, it is clear that a freight forwarder performs the following functions in an international trade transaction.  Documentary requirements  Transportation arrangements  Customs requirements  Negotiating with inter-related parties in trade  Statutory compliances  Safety requirements  Monitoring function  Storage and maintenance…

overtime. In the article “The High Stakes of World Trade” by Renato Ruggiero, his point of view is that the job market was worse in 20 century than now. According to him, globalization represents a huge opportunity for countries at all level of…

France and United States Trade Agreements The United States and France have worked together for many years in developing a comfortable working relationship. They share common values, political, economic and security issues. The government officials visit each other regularly because they must affirm the foreign trade they have established. Their agreement started with them coming to an understanding to combat terrorism which has affected many countries. Due to their support and desire to serve…