Essays on International Trade

Benin imports are more than it exports. The country should devise ways of increasing its exports and avoid excessive reliance on imports. The majority of its industries are young, and countries export a lot of unprocessed raw materials. The young industries cannot produce goods at low cost and compete with large firms of industrializing countries in the international market. Besides, unprocessed goods are sold at a relatively low price (International trade centre 1). The government should be more involved in the trade to ensure value addition to its exports. The government should start industries that process cotton and other ...

American Public University

Many of the economics books inform us that perfect competition is better than uncompetitive markets because it enables the markets to use the resources efficiently. In the perfect competition markets, producers give importance to decrease costs and increase the quality of products because the market price is given and their profits are limited with this given price while, in the uncompetitive markets, the companies play a game to maximize their profits theoretically. Monopoly is the worst version of the uncompetitive market because there is one dominant company in a market and the entry to the market is not possible. ...

In A Cooperative Strategy for 21st Century Seapower, there is a description of the challenges of a new era. For instance, the world has become exceedingly interconnected. This has led to the escalation of sea-borne trade around the world. Sea-paths and related shore infrastructure is a key to modern global economy. The increased global interconnection has augmented the prosperity of many countries. This sustained growth has brought about growing competition for resources as well as capital with other economic powers. Increased popular expectations and heightened competition for resources, combined with scarcity of the resources, has made countries to exert ...

The topic of interest is International trade. It is the trade between countries that involve the exchange of goods and services (Tutor2u, 2017). This type of trade benefits all countries involved when conditions such as a country’s GDP, living standards and the production of primary goods are stable (Simpson, 2017). It relies heavily on specialization and comparative advantage. Specialization is the focus on the efficient production of a particular commodity to minimize production costs. Comparative or absolute advantage states that countries can benefit from each other only if one country performs the production of a particular good better ...

Volatile Prices of Primary Goods Preventing Economic Development in LDCs

Background The primary goods refer to the products that are obtained directly from agricultural activities and are not subjected to the process of manufacturing. The most important primary products in an economy include those that are obtained from the sector, such as the fishing, agricultural, forestry, and mining industries. In terms of the least developed nations, which are mainly located in Africa, Asia, and the Latin America, the trade characteristics of their economies include the dependence on the developed, industrialized nations, and, significantly, the reliance on primary products. Accordingly, in international trade, the least developed nations’ exports are primary ...

Introduction

The vision 2030 for Saudi was designed to improve the local and the international position of the country along economic, social, political, and the peoples` dimensions. The plan was designed along three critical aspects that encompass the social, economic, people, and the political position. The three pillars that founded the plan were the vibrant society, ambitious nation, and the thriving economy. Along the vibrant society, the model focused on tapping the nation`s strong roots through the blending and optimizing on the natural resources and the community`s cultural heritages. The plan focused on developing and promoting fulfilling lives ...

The production possibility frontier for Brazil depicts the maximum outputs of clothing and soda that the country can produce simultaneously with given combination of inputs as well as other factors of production. Ideally, the production possibility frontier shows the optimal production points of the economy at any point for the two products. Point E in the graph below denotes the optimal production point for both products. Additionally, the slope of the graph at point E reflects the marginal rate of transformation in Brazil. This denotes the rate at which the production of clothing can transform into the production of ...

Essay

Democracy, for all its empowering aspects, isn't still practiced by every nation on this planet. Much like the Soviet Union, which collapsed on itself in the early 90s, there are a number of states in today's world that continue to be totalitarian in nature. For those living in democratic countries, this term might not be familiar and its practices even more so even if a business might want to expand to emerging markets that are controlled by their respective governments very different from the model that the United States among other democratic countries. While the definition of democracy is ...

Introduction

An organization is regarded as an entity that is made up of people with a collective objective and is connected to the external environment. Hence, a business organization is a group of people collaborating to achieve a commercial objective (Handy, 2005). Toyota Motor Corporation is a Japan based auto manufacturing company with its headquarters in Toyota, Aichi. The company was ranked as the 13th largest in the world in terms of their revenue. It was the largest automotive manufacturer in 2010 ahead of the Volkswagen group and the general motors in terms of their production. The Toyota motor company ...

Current market conditions competitive analysis

Estee Lauder Cos.Inc Estee Lauder Cos. Inc is an American based company that manufactures and markets prestige skincare, fragrance, hair products, and makeup. The company has owned various investments of labels that are internationally distributed to give it a global reach. It establishes departmental stores in various regions. Estee Lauder Cos. Inc has achieved a global leadership in by delighting its consumers with a variety of transformative products, high consumer experiences, and improved capacity to inspire its consumers to express their beauty with its prestigious products. The company is focused solely on its specific beauty products with more than ...

Chapter 3: Methodology

3.0 Introduction The theory of purchasing power parity is essential for the study of international trade since it argues that there exist a relationship between prices of products and exchange rates. This theory provides a framework for assessing long-term changes in the exchange rates. It states that similar goods and services in various countries should have the same cost in the long-run (Frankel 153). Essentially, the PPP theory is based on the assertion that the exchange rates tend to adjust themselves in such a way that there no opportunity costs for buying particular goods or services in a particular ...

The knowledge in economics encompasses a wide array of topics that involve different economic activities, such as the ones that influence the government in carrying out regulations on gasoline prices as well as imposing a price floor in relation to the minimum wage. In this discussion, different economic scenarios will be presented along with the possible outcomes of each. In addition to the provided situations about the price ceiling for gasoline and price floor for minimum wages, other economic events will be presented, such as the possible gains and losses of international trade and the possible outcome once the ...

South Africa and Globalization

Introduction Globalization has brought both positive and negative in different countries. It has affected the various nations’ economies those are using variables such as trade, foreign direct investment (FDI), GDP per capita, capital flow, and others. The paper discusses the impact of globalization on South African trade. It will investigate the major changes in the country due to globalization after WW2.

Impact of globalization on trade

South Africa is an unequal country in the world that is trying to develop itself economically and bring restitution to its black majority. Globalization has affected the economy of the country and increased new trend towards globalized economy . ...

Business administration jobs offered in San Francisco

The business administration jobs that are provided in San Francisco include the summer associate in the investment bank as the bank has the programs in which it wants to equip the personnel with knowledge as well as train them so as to be productive in the team and establish the long-term career. The entity is hiring the professionals who have the international perspective on the future concerns of the banking and who want to make a significant impact on the commercial level. The entity is looking for various values in the professional because it values diversity and therefore it ...

Define and discuss time and space utility

Products must be transported from the place where they are produced to the place where customers demand it to be delivered. The value-add that the product gains due to its transport is called space utility. The time utility is the length of time before or between the product deliveries, which consists of mostly storage and inventory time. When the organizations are able to deliver the goods at a time they are needed, then their time utility increases.

What is the Total Cost Analysis and how does is affect logistics?

Total cost analysis provides the methodology for integration of logistics, manufacturing, and procuring costs across the network. This is done to achieve ...

Introduction

Internalization is the process, as it relates to international strategic management, which requires transaction to occur within the confines of the corporate assets, rather than externalizing and interacting more heavily with the open market. This form of business interaction has certain advantages, abut can also pose serious disadvantages as the business works to move into new global markets. The following paper will work to determine to what extent internalization creates an atmosphere of global risks for companies in the middle of globalization. Currently, there is a shortage of research as it relates to the impact of internalization on business ...

Introduction

Gap, Inc. established in July 1969 in the state of California and reincorporated in 1988 under the regulations of the State of Delaware. The company is a leading international retail brand. It provides apparel, accessories, and personal care products for men, women and children. The products are sold under the brands like Gap, Banana Republic, Old Navy, Athleta, and Intermix (Gap, Inc., 2015). The report provides an overview of the internal and external environment of the company with the focus on identification of key issues and recommendations.

Political In relation to politics, various factors impact the apparel industry and ...

Trading partners

Mexico ranks position twelve among the largest export economies worldwide. 2014 trade statistics shows that Mexico exported about U.S. $400 billion and made imports worth U.S. $379 billion. The country recorded a Gross Domestic Product (GDP) values at U.S. $1.29 trillion and a GDP per capital of about $17,000. Moreover, the Mexican economy records an Economic Complexity Index of 1.23. The ability of the country to make many exports to different trading partners increases its global exports shares due to its larger size in the global market. The ability of Mexico to make large number of exports shows ...

Introduction

Casino Capitalism is a vivid description of the international financial markets, their behavior, and the economic strength they yield to various entities. The book goes on to describe the advantages of international financial markets and some of the evils associated with the same. The author, Susan Strange was a former student of the British international relations studies; she is mostly renowned for her contributions to the creation of the international political economy. Apart from her major publication of the Casino Capitalism in 1986, she also published other books, namely: States and Markets (1988), The Retreat of the State (1996) ...

[Author Name(s),First M. Last, Omit Titles, and Degrees] Economic development changes society in a manner that it becomes more and more difficult for the country to remain in the hands of a single man or a group of powerful elite. The change results to transforming the social and economic framework and then moving towards a changed attitude of the population in general. The primary concern of the countrymen is to achieve a commercial greater status and increase their wealth holdings. This changing scenario leads to people taking to skilled professions; they learn the importance of collective effort ...

Information technology is an essential tool for the development of an organization. Technology assists companies in their operation. The use of technology is especially crucial in the management of global organizations. The technological advances assist these organizations to avoid crimes and errors committed through technology. Mars Inc. is one of the companies that have embraced technology in their operations. This paper is set to research on Mars Inc. and its operations in the global market. Additionally, it analyzes the technological advancements employed by the organization in its operations.

The History of Mars Inc

Mars Inc. denotes a private company owned by the family of ...

Introduction

Organizations must apply different strategies in order to sustain the profitability of the business. There are different efforts that enable successful market penetration, which benefit the organization itself. Many organizations expand their business through globalization. In definition, globalization in business is the integration and interaction process, which is driven by investment and international trade, while being supported by technological advancement or information technology. The purpose of this study id to present the relative advantages of globalization versus the regionalization or localization. Characteristics of a transnational organization will be presented, which operates on a global basis. This study argues that ...

There are current issues that affect international business. One of the current issues is the Britain exit (Brexit) in the European Union. The article focuses on how the exit of Britain could affect the economy of Britain. Notably, the economy of Britain has tremendous impacts on the global economy and international business. Most of the companies in Europe have developed because of the European Union and their involvement in international trade. Brexit could disintegrate the European projects that are streamlined towards enhanced business and economic growth (Goodman). For example, a bartender asserted that exit of Britain could lead failure ...

The modern world is changing up so quickly, and getting connected with a really crucial speed. One of such sufficient processes is globalization. Globalization in simple terms is usually known as the process during which the world is transformed into a single unified system. At the end of the last century, globalization has become a hot topic for debates all around the world and it has not yet stopped. However, globalization is not a new process, since it implies the integration of the economic, cultural, political and religious spheres. Today globalization caused both positive and negative consequences and this ...

Influence of Internal and External Stakeholders

A political agenda is a set of policies and topics under discussion put forward by different political groups, and discussed by a governmental executive, or a government cabinet. Political parties shape and set political agenda when they want to promote its polices, obtain news coverage and increase the support. Nowadays every single day “people are affected, directly and indirectly, obviously and subtly, by an extensive array of public policies” (Anderson, 2015). Public police is a system of regulatory measures, laws, actions and funding priorities related to a certain topic declared and developed by governmental bodies and officials or its ...

(College/Institute/University)

Human Trafficking

There is a flourishing international trade in human beings. In camps in the jungles and elsewhere, the victims of these “human traders” brutalize, rape and at times kill those who fall prey to them. These groups “service” the needs of businessmen looking to use the cheap labor to maximize their profits (Stoakes, Ranong, and Kelly, 2015). One of the most prevalent forms of the commercial trade in humans is child labor; in places such as Africa, children are used to service the cocoa fields using extremely dangerous implements even in the hands of adults (Food Empowerment Project, 2016). ...

Deciding Which Market to Enter

A case study of Taco Bells Introduction A company with objectives of entering into new markets must implement strategic decisions on the type of market and the entry mode. Typically, global business enterprises enter new markets through exportation, obtaining market licenses, the formation of joint ventures, or sole venture entry (Keegan, 1989). Any of these entry modes require a firm to commit some resources to succeed in the market entry. Thus, initial strategic decisions as to the category of the market and appropriate entry mode are essential. High competition, industrial organization, and international market imperfections tend to impede the ...

USA Wages

The wage inequalities in the U.S. are occasioned by weak wage structures and policies (Gordon, 2016). The inequalities are partially attributable to overpaid C.E.O and managers and underpaid workers. Moreover, the share of the national income that is set aside to cater for wages has been decreasing gradually over the years (Gordon, 2016). Job insecurity and lower wages were common during the Great Depression; however, political responses to the depression and challenges brought about by the World War II led to improvements in the employees’ bargaining power. The rapid economic growth in the U.S. is attributed to an increase ...

Abstract

Do the imbalances in current accounts still matter in today’s deep global financial markets that exhibit two-way gross economic flows that dwarf the new outcomes provided by current accounts? Contrasting the adult perception of the world and complete markets, extreme current account imbalances indicate severe financial and macroeconomic stresses, particularly as was the case in the mid-2000s. The increasingly massive valuation differences in nations’ net global investment standards and positions, as well as risk allocations, cannot be relied upon to offset the variations in regional wealth systematically as implied in the current accounts. The same conditions that warrant ...

1. Bretton Woods institutions are the International Monetary Fund and the World Bank, which is leading the international monetary and financial institutions, the most important element of the modern institutional structure of international monetary relations (Claude, Sharp and Egger, 2016). They got their name from the American town of Bretton Woods, where in 1944 an international monetary and financial conference at which it was decided on the establishment of these two institutions. The International Monetary Fund is an international monetary organization whose purpose is to promote international trade and monetary cooperation by establishing norms regulating exchange rates and monitor ...

Market Structure

In simple terms, market structure refers to the classification of the various types of markets, based on their unique features on how they allocate prices of a given product in the market. The aspect is primarily classified into two, which include perfect and imperfect market.

Oligopoly

Refers to a type of market structure where there are few sellers in a given economy with many buyers for the commodity. With oligopoly, the sellers have an influence on the commodity price in the market and can significantly affect competition. An example of a company to indicate the above case is the mobile ...

(Teacher)

Introduction

The state of the natural world is always hanging in a delicate balance. No other creature on the planet has a deeper effect on the balance than humans do. Endangered and threatened species is the effect of human activity. Humans have an innate ability to create chaos in the world around them. The more a civilization is destroying the natural world, the worse the natural world becomes. This is evident by the numbers of endangered species that rises. It is difficult to center on just one single species and ignore the rest. Each species deserves to be recognized ...

There is a wide accepted concept that after centuries of development, the Muslim world began to decline in the 15th century. Did it really decline? In this work I would like to illustrate the main trends of developments of the Muslim world in early 15 – early 20 century. We know that in part of the second millennium, and for five centuries later there were many Asian invasions in other regions of the world, wide expansion (Seljuk, Arab, Turkish). But then the stagnation began. Since the "golden age" of the Abbasid Empire, it has not changed territorially. And large areas ...

Introduction

A global supply chain is composed of processes, interrelated entities, and resources that make and deliver products and services to customers across many countries (Drake, 2012). Due to globalization and increase in international trade, companies are operating and sourcing products and services in many countries. There has been a rise in multinational companies with plants or stores in different countries. This underscores the need for global supply chains to enhance the operations of these companies. Some companies use global supply chains to source for products.

Benefits of global supply chains

Global supply chains enable a company to compete all over the world. A company ...

RESEARCH REPORT

INTRODUCTION The French accounting had a long way of establishment and development. More so as France was a country with many colonies throughout the whole world. Despite the fact that the metropolis did not really want to develop thee colonies, as only their resources interested the French government, the French accounting system still had an immense influence on the development of the accounting systems in these countries.

French accounting found its origins under the reign of Louis XIV. The first mention and example of an accounting attempt was undertaken when the French wrote an official document named “Ordonnance”. The ...

Abstract

In most economies, the resources are scarce and limited which calls for proper planning and allocation of the limited resources. Economic operations of a particular region are represented in the circular flow of income, whereby various sectors of the economy are represented. In the flow, all the players have their specific roles to enhance the optimization of the resources available. As enterprises and firms are going global, there are benefits and costs associated with the move, which calls for planners and economists in the enterprises undertaking the move to analyze the world market consciously. In this article, various economics ...

Could Free Trade Agreements be a effective instrument to regulate climate change mitigation measure in the context of missing a comprehensive multilateral instrument?

The recent century is featured with the expansion of the international trade in the global scale. The development of the trade legislation and increase of the volumes of import and export relations between the countries gives rise to the question as to whether globalization of international trade affects the spread of the climate changes. In this regard, the majority of the experts in trade sphere consider the role of the World Trade Organization in the mitigation ...

Part 1.

Since the end of the WWII, the United States has taken a leading role in the provision of the world leadership as the ultimate policeman of the world. The US has developed a series of foreign policies and treaties that are meant to guarantee the safety of the world.

Part 2.

A. (i).Financial and technical support to AMISON (ii) Killing of Osama Bin Laden by the US seal Navy army

B (i) Policy of containment

(ii) Provision of citizenship for anti-communist individuals who are being persecuted in Afghanistan. (iii).Culture of consumerism to promote US industries (iv) .Influence of US on Anti-narcotics policies in the ...

MNE is a company, operating in two or more countries, conducting research there and having a multinational (decentralized) production, management and ownership of the capital. When moving the part of MNE production abroad, there is a replacement of the foreign exchange with international production of subsidiaries (Drucker). In this case, international trade, firstly, is taking on new forms of intra-firm trade, and secondly, stimulates the further evolution of the already existing forms of intra-industry trade. Intra-firm trade. It is inherent purely for a MNEs and occurs through the parent company import of products of its subsidiaries and parent company ...

Abstract

This study examined the effects of a fixed currency exchange system on China’s economy as well as global growth. The study analyzed the different economic indicators of China and their relation to the fixed currency system. We predicted that this system had an effect on various sectors of the economy and resulted in economic growth which is consistent with recent research on the benefits of a fixed system to the economy. The system has made goods from China cheap hence increased its exports and strengthened its manufacturing industry which has had a positive effect on global economic growth. ...

Introduction

Modern global economic system is a considerably distinct from the dogmatic frameworks of political economy (Mankiw, 2014). Professor Blanchard contests that extreme increase in production and substantial automation of the business processes have seriously changed the global economic landscape (2011). In order to stay competitive the companies have to develop and implement new business solutions, as well as they have to stay socially and environmentally responsible (Goldin, 2014). In addition, Gartner wrote that there is an increasingly important need to stay in line with the perpetually evolving customers’ preferences (2006), and the smallest disharmony with their predilections may result ...

INTERNATIONAL TRADE THEORY

INTERNATIONAL TRADE THEORY

Abstract

Comparative advantage, the ability of a nation or individual firms to produce goods or services at lower costs than their competitors is critical in international trade. Fundamentally, the availability of natural resources, abundant of labor, and technology allows some regions to produce goods or services at lower costs. These propositions have been the central building blocks of the international trade theory with little regards to the role of the entrepreneurs. Investors determine the value of the natural resources or even attempting to utilize them. Besides, their decisions influence the market forces in the region supply of ...

INDICATORS:

Income level: High Income Population: 35.54 million (“Data” 2014) GDP at market prices (Current US$): $1.785 trillion (“Data” 2014).

GDP per capita (current US$):

$50,230.8 (“Data” 2014). GDP growth (annual %): 2.44 (“Data” 2014). FDI Inflows: $59.6 billion in 2014 (“Trade Policy Review” 5). FDI Outflows: $58.2 billion in 2014 (“Trade Policy Review” 5).

Balance of Payment:

Current account balance (BoP, current US $): (-) $ 37.47 billion (“Data” 2014). Current account balance (% of GDP): (-)2.1% (“Data” 2014). Import of goods and services (BoP, current US$) : $580.7 billion (“Data” 2014). Exports of goods and services (BoP, current US$) : $564.6 billion (“Data” 2014). ...

Income Inequality between Countries

Introduction This paper asserts that the income inequality between developed and developing countries increases over time. Developing countries will not be able to catch up with developed countries because of differences in technological advancement. Technology has a bearing on the nature of output and skills that a country has for its production. Therefore, developed countries will produce technologically advanced products such as computers because they have both the resource endowment of both physical and human capital in those sectors. On the contrary, developing countries that have abundant unskilled labor will supply unskilled labor intensive goods and agricultural goods that ...

International Trade Law

Dumping is the practice of selling goods from one country to another at substantially low prices; an action knows to discriminate price between the home market and the foreign market (Kerr 15). On the other hand, a subsidy is the act of distorting how things are run in the market and instead lead to resources being allocated resulting in low production and overall less wealth worldwide (Baker 15). Dumping is not an activity driven and operated by the government, as it is operated by private companies or organization, which they are part of the government or parts of them ...

U.S. Position in the Post-cold War ERA U.S. Position in the Post-cold War ERA

The post-cold war saw the rise and growth of the Western liberalism and capitalism. The fall of the great communist powers gave the opportunity for capitalism to thrive in the world. The era of cold war was a struggle for power, where international political economy the struggle for power and wealth was witnessed and is still present to date. The struggle for power is what creates chances for conflict in the world, “the changes in the distribution of power between states increase the chance of ...

Part 1: Interpret trends and market development

Analysis of trends and developments (3 marks) The international market is incredibly diverse; this provides business managers with untapped potential and a big range of profitable opportunities in the market. However, this diversity may make international marketing operations quite complicated, requiring the coordination of a variety of processes to be successful. In most cases, the basic marketing principles apply to all markets around the world. The difference is that you need to be able to apply those principles in environments that could be significantly different to what you are used to dealing with. Many of the issues international marketers ...

Introduction:

Outsourcing is a cost saving practice in which one company provides different goods and services to another company. It is used by different companies to transfer some portions of work to outside suppliers instead of completing it internally. It describes the strategic use of outside resources to perform organization's internal activities. It help the companies to get more skills and expertise from outside suppliers. Outsourcing is an act of acquiring products or services from an outside company that is known as vendor or supplier. The history of outsourcing is embedded with a history of the growth of modern technology ...

The Global Economy and International Trade

Introduction At the same time, it would be paramount to draw attention to the importance of international trade concerning the economy of the United States of America. This is due to the facts that the country reveals as a superpower and because the entire amount of both exports and imports results in an honorable second place worldwide (fn. – America waives the first position to China, of course). In advance, I feel an inexorable desire to note that since the time the United States of America had become a state and until nowadays, the country has been altering its directivity ...

Abstract

The current paper explores the main differences of the Great Recession in 2007-2009 from other economic collapses in the history if the United States. Section I discusses the general features of a recession and describes the main responsibilities of the National Bureau of Economic Research. Section II is devoted to the comparison of the Great Recession with the recession of 1980s. The section is divided into four subsections. Subsection A presents the basic comparison of recessions in the U.S. history and explains the choice of the 1980s period for the further comparison. Subsection B explores differences in unemployment in ...

In the recent days, international trade has become a common feature of all global business enterprises. The adoption of globalization and the creation of regional trading blocs have greatly contributed to the increased international trade activities. This paper seeks to examine the interactions and relationships between the USA and Japan and Korea in the context of international trade. In the past, the US- Japan and US- Korea economic relationships have proved to be strong and mutually advantageous in various ways. These economies have a great integration through capital flows and trade in goods and services. Each country forms a ...

Pertaining to the scenario in which the Thai government decided to peg their currency (the Thai Baht) to the U.S. dollar, Thailand could possibly experience inflation due to the artificial valuation of their currency to a more established currency, (Moreno, R., 2000). That being said, the United States would not experience inflation as a result of this agreement. In fact, the United States would benefit because the Thai government would have to invest in the United States stock market and the Thai stock market, which would invariably help the United States economy, (Moreno, M., 2000). Relating to import/exports and ...

BUSINESS ORGANIZATIONS IN A GLOBAL CONTEXT

Business Organizations in a Global Context Increasing Competition in business has induced industries to expand their operations globally. Liberalization of laws related to foreign direct investments in developing countries has further facilitated transferring of business operations across boundaries. However, shifting of business operations to other countries needs an in depth knowledge about their cultural, social, economic, political and legal dimensions for conducting business functions smoothly. Firms contemplating globalization of their activities often hire business consultants to advice them about the business environment of other countries for easy transitions. The case discussed in this paper concerns the operations of a ...

Being dominant in terms of economy, political affairs and military power requires a country to have a certain geographic location and a size that would allow achieving ambitious political and economic goals. Undoubtedly, for a small country with insufficient natural resources, little population, and large neighbors nearby it is very difficult to become powerful. In the meantime, even small countries may act as very authoritative international actors if they have several reliable and strong allies and the surrounding countries cannot harm them. In this paper, the importance of geography in making a country an economic, political and military power ...

Establishment of BRICS was one of the most significant political events of the beginning of the XXI century. BRICS is a group of five fast-developing countries: Brazil, Russia, India, China and South Africa. The organization was founded in June 2006 during the St. Petersburg`s Economic Forum with the participation of the Ministers of Economy of Brazil, Russia, India and China. Before the inclusion of South Africa in 2010, the organization was known as BRIC. For the first time the acronym BRIC was proposed by Jim O'Neill Goldman Sachs`s Bank analyst in November 2001. The sequence of letters ...

For the first time, the initiative of the Trans-Pacific Partnership (TPP) was put forward by New Zealand, Singapore and Chile in 2003. In 2011, after the accession of the US the concept of the agreement was essentially changed. Since 2011, nine countries were conducting negotiations on accession to the Trans-Pacific Partnership: USA, Australia, New Zealand, Malaysia, Singapore, Vietnam, Brunei, Chile, and Peru. Canada and Mexico joined the negotiations later, and in 2013, Japan joined them. Currently, these countries make up the basic structure of the partnership. There is a possibility that the Republic of Korea, as well as Taiwan, ...

EDITORIAL RESPONSE ON A.G. HOPKINS - GLOBALIZATION IN WORLD HISTORY

Introduction

In Hopkins’s first edition, he chooses to focus on Globalization and brings out the importance of varying histories to Eurasia and Africa. Moreover, he brings out the modern version of America and the diversified ways that people appear to understand it. In the second volume, he attempts to put up some level of uniqueness that can be embarrassed by other higher learning institutions. It is through it that many levels of expertise are portrayed such as economic and intellectual history. In these collections, essays are discussed and in ...

First, it is necessary to explain that the 21st century has brought exciting prospective and great challenges to the humanity. It is assumed that the US shift in economy, culture and wealth could have been caused by globalization, domestic economy and internal trade, as well as unemployment. It would be appropriate to begin with an explanation of the term globalization, which refers to a process of cooperation and integration between humans, companies and governances or administrations of different countries (Huwart, Verdier 3). The process of globalization has effects on the economic development, culture, environment and human’s well-being, and ...

The post-cold war saw the rise and growth of the Western liberalism and capitalism. The fall of the great communist powers gave the opportunity for capitalism to thrive in the world. The era of cold war was a struggle for power, where international political economy the struggle for power and wealth was witnessed and is still present to date. The struggle for power is what creates chances for conflict in the world, “the changes in the distribution of power between states increase the chance of conflict in the international system (Gilpin 1918).” The power shift from dominance by the ...

BRICS effect on global capitalist economy

The debates about the increasing role of emerging economies became more vigorous since the global financial crisis that became a start for a new global framework with the developing countries surfacing as a major hub. The most attention is given to the economies of Brazil, Russia, India, China and the South Africa (BRICS) that had demonstrated high growth during the last decade against the global recession. The future dominance of the BRICS may shift the economic center towards the multipolar model. Changes in the matrix of competitive forces (finance, resources, technology) lead to a decline in the economic, political ...