Essays on Trade Policy

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 ...

U.S. Trade Deficit The US has been running the significant trade deficit over the last four decades. As a result, the country is the biggest debtor in the world with almost $3 trillion net debt. Obviously, this situation raises concerns among many researchers and policymakers, as they suggest that the long-run trade and current account deficits might make devastating effect on the growth performance. Actually, the issue is quite controversial and debatable: for example, other researches claim, that trade deficit is merely the result of the effective re-allocation of resources in the global economy and there is no consequences, ...

Saudi Arabia, being the largest Arab nation both in physical size and the size of the economy, was ranked as the 15th largest exporter and the 20th largest importer in the world in 2014. The country is ranked high in the foreign trade market because of its great participation in the global market. Shoult (2006) argues that, being the largest economy in the region, Saudi Arabia plays a crucial role in the Arab world economy, accounting to more than 25% of Middle East’s G.D.P (Gross Domestic Product). The nation’s strong economy and a rapid economic growth rate ...

Report for McDonalds

Italy and Russia

Figure 1: GDP per Capita at Constant Prices Figure 2: GDP Growth (Annual %) Figure 3: Inflation Rate CPI Figure 4: Unemployment Rates Figure 5: Policy Interest Rate (%) Figure 6: Russia Interest Rate (%) Figure 7: Current Account Balance in Italy (% of GDP) Figure 8: Current Account Balance in Russia (% of GDP) Figure 9: Russia Interest Rate

List of Tables

BUSINESS OVERVIEW McDonald’s Corporation is the world's largest chain of hamburger fast food restaurants, serving around 68 million customers daily in 119 countries across 36,538 outlets. Founded in 1955 by Ray Kroc in Des Plaines, Illinois, 80% of the ...

McDonalds has come to create a network in both Italy and Russia. Italy seems to have better balance of payment and government balance indices, interest rate, trade policy instruments and not needing to lose over currency rates while dealing with Eurozone importers, and even unemployment and GDP growth rates. However, unemployment and the lack of growth indicating poor economic performance and social welfare situation may advantage the brand in Russia through better low-cost labor availability and consumer reorientation on less expensive restaurant offerings. Overall, neither of the country is the ideal market for the brand, yet both have their ...

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 ...

Section one

The research below will present a discussion on Samsung as a preferred multinational company that is originally of a South Korean origin. Notably, it is comprised of several affiliated, as well as, subsidiaries businesses that are mostly united under the brand of Samsung. The company has a significant influence on the economy, politics, culture, media and the development of all other aspects of the South Korean state. Essentially, the revenues of Samsung make a huge chunk of South Korean GDP. The company as a global corporation is present in the six out of the seven continents in the entire ...

INTRODUCTION

Mongolia is located to the north of China and is said to host 10% of the world’s known coal reserves which is estimated to be equivalent to 162 billion tons. Coal export accounts for the largest chunk of total Mongolian gross domestic product (GDP) at roughly 22%. This is equal to approximately 80% of the county’s exports (Voroshilov 34). In the country, production and exportation of coal, specifically coking coal, is primarily undertaken by the Mongolian Mining Company (MMC). Coking coal refers to a type of coal that is absolutely essential to the process of steel production. ...

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). ...

Introduction

It is a cliché to say that the relationship between China and the world has become complex, multidimensional and interdependent. But that does not mean that we fully understand the complexity of the Chinese attitude towards globalization nor its interdependence with the world in general and the Western industrial democracies in particular, with the implications thereof. The thesis that we develop in this article argues that economic interdependence greatly strengthens Chinese authoritarianism in its ability to politically influence the attitude of States and civil liberties in Western democracies, rather than the reverse. It contradicts the usual thesis that Western ...

(Course number)

Classmate Claude S’s Answers Aristotle’s final cause points to the ultimate reason for the being’s existence. Relating this to the idea of globalization, the final cause becomes the globalization’s vision. It is the ultimate reason for its conceptualization. One of the objectives of globalization is to have a global free trade. However, no matter how noble is the vision of globalization; collateral cost and damage are never out of the way. Ethical issues relating to jobs, brain drain, natural resources, health, and finance are just some of them (ehow.com). There is no guarantee ...

Question two

Totalitarianism Totalitarianism is a political structure whereby the state does not recognize the limitation of its authority from any sector and it monopolizes power hence regulating all aspects in its jurisdiction such as the public and the private perspectives. This kind of political system is characterized by some elements which are opposed to a democratic environment. Totalitarianism is associated with autocratic were nobody can resist the power and authority of the president since that is a criminal issue highly punishable by law (ppt.2).

Features of totalitarianism

Absolute military control is an aspect which is experienced in Totalitarian State whereby citizens are not ...

There are various trade barriers in the food retail industry in the United Arab Emirates. Most of these trade barriers are usually directed to the foreign multinational companies trying to enter the market. The first barrier is the food standards set by the United Arab Emirates. In the year 2008, UAE joined the gulf standards, which is an organization that develops the various food standards (Anderson et al., 2010). The organizations set standards and rules relating to labelling standards and shelf life. These regulations are normally made possible through the various committees such as the organic food and biotechnology ...

Should UK leave or stay in EU?

Brexit would have an impact on the UK and the EU in the world. That would be most evident in trade policy. The UK would be likely to strike deals based on the domestic priorities but would have a lower priority than the EU. The impact of Brexit would mostly depend on the relation with EU after that move. Brexit would only happen if the majority vote to leave the EU in a referendum. The outcome is uncertain since there are unknowns, including the outcome of the renegotiation and timing of the vote. There is a need to assess ...

Introduction

The economy of Japan has seen a downturn with the economic crisis in the year 2008. Every country has been faced with the consequences that resulted in different impacts. The paper will present the economic indicators and overall economic situations in the Japan. The background of the country’s economic policies will be present, with international and regional trade agreements. The focus will be on presenting the specific economic data along with the definitions and interpretations. Further on, the current state of the country’s economy will be examined in the light of trade, fiscal and monetary policy.

Background on the country and recent economic policies

Japan ...

Free trade agreements such as ChAFTA (China-Australia Free Trade Agreement) and the proposed TPP (Trans-Pacific Partnership) are treaties that are signed and ratified by national governments in a bid to increase the volume of trade within their country, as well as to reduce the obstacles that limit local and foreign investment. This is particularly useful seeing as incentives such as reduced or eliminated tariffs serve to encourage investors from far and wide to invest in the said country (Lim, Elms, and Low, 2012). For many years, such treaties have successfully ensured increased volume of trade as well as investor ...

There are different approaches to define small economies. Besides usual quantitative ways to measure country’s smallness by its population, territory, GDP and other criteria, there some qualitative factors that are used to define the economy’s scale. Some economists state that small economies are those that adopt “price taking” policies as they cannot dictate their rules in the market, neither significantly influence trade rules. This peculiarity of small economies mainly lies in the fact that such countries have limited resources. Hereby, small countries are more dependent on imports and are forced to accept trade agreements offered by large ...

IMF Throws Ukraine $27-billion Lifeline as Third Recession in 6 Years Looms

The article that was published in financial post portrays the money crisis Ukraine is going through, where the country is caught up in international debts. Ukraine government owns Washington lenders a loan of US$14 billion, 1.6 billion Euros to European Union and US$3 billion to the Russian government. These debts have weakened international business with a majority of countries as they claim the country is on the verge of bankruptcy and thus they could not involve themselves in business links unless the debts are paid. The situation has attracted the attention of the International Monetary Fund to intervene and ...

- Introduction

IBM is a world leader company in information technology and stands as the largest revenue generating Company in its field. In the past 50 years, IBM has earned a place for itself as the pioneer in information technology developments and innovation. The Company manufactures products ranging from hardware to software for its impressive clientele around the world. These products are designed for another range of storage products, line of business servers, customized microchips including the application software. In addition to manufacturing, IBM also serves as a consulting and outsourcing agent. The new information age is quite challenging to compete ...

- The intra-industry trade index analysis has been done for many years, the latest being 2008. With regards to overall manufacturing, Japan, Germany and Canada had an index of 53.7, 77.2 and 75.6 respectively. With regards to machinery and equipment, Japan, Germany and Canada had an index of 66.3, 76.2 and 67.5 respectively. With regards to transport equipment, Japan, Germany and Canada had an index of 24.8, 67.1 and 93.4 respectively. For the three industries, Japan achieved prominently low indices when compared to Germany and Canada. By these indicators, the statistics show that Japan was lagging behind in the ...

Atmospheric carbon emissions in the United States have elicited a myriad debate on the effective policies, which should be enacted to save the economic global change. Proposed policies are essential curbing the menace. Primarily Energy efficiency policy is vital. The mentioned policy encompasses providing consumers with tools to effectively monitor and adjust their energy use. Notably, cap and trade system policy is also vital. The mentioned system employs financial inducement in encouraging reduction of carbon dioxide by companies. Here, a regulatory body set maximum annual limits of carbon emissions (Turk & Bensel, 2014). Also, a carbon tax policy connotes to a tax on ...

Abstract

A regional bank, XYZ Bank, has decided to open an office overseas for serving those businesses that are expanding internationally. India has been chosen as a large financial centre that is believed to help in increasing customer base and expand business. The various factors favourable for investing in India are its political stability, federal legal system, availability of managerial and technical skills, good infrastructure, favourable economic policies and relaxation of restrictions in banking sector. However, some key challenges are cultural diversity, need of legal expertise in opening a wholly owned subsidiary and regulatory restrictions in banking sector. In spite of the ...

Question 1

The federal reserve bank is a major institution in the American’s economy and society designed to offer financial stability by maintaining currency flexibility. The Fed as consistently played a significant role in the Untied States economy and monetary policy since its establishment. The Fed established in 1913, therefore, its the roles and regulations go back only to the early years of the 20th century. For instance, the Fed came into play when a harsh economic crisis started in 2008. During this period the GDP shrank, unemployment increased and millions of Americans were worried about their futures. It was the role of ...

International (Free) Trade

International (Free) Trade Free trade or international free trade is one of the most effective ways of making economies stronger. It is in a view that when the governments lift the barriers from the trade, the circulation of funds in the market increases and gives benefit to the citizens. Free trade creates jobs in many different ways and its impact on the domestic job creation policies. For example, a few decades back there were no labor force in the Middle East countries such as UAE and Saudi Arabia. The free trade policy from the governments of these countries creates a lot ...

Kenya is located in Eastern Africa and is considered as the economic hub of the region. One of the most distinctive aspects of the nation is that it has a market-based economy that is accompanied by a very liberalized foreign trade policy. Kenya gained independence from the British in 1963 and since that time, the nation has experienced inconsistent economic growth (Bradshaw, 1988). In fact, during the early years after independence, the rate of economic growth for the nation was very high (6%).However, this rate decreased to about 4% for the following decades. Things particularly got bad for the country ...

Discuss the pros and cons of cap-and-trade policies. Are you for or against? Why?

In the wake of the demand to decrease environmental pollution, there has been intense

in effective pollution control. One of the policies discussed in this regard is “cap and trade” which aims at reducing the carbon emissions by factories by fixing a limit or a so called cap on the amount of pollutants that can be emitted by these industries. According to an article

Guide to Designing and Operating a Cap and Trade Program for Pollution Control, a cap and

trade program establishes a total emission cap that decides a specific emission limit decided by concerned authorities. The pollution target is pre determined and the cap is reduced every year in order to achieve this ...

International Political Economy

International Political Economy

Introduction

Interest groups, domestic politics, and institutions, both domestic and international, are important factors that determine the foreign economic policy of a given country. Interest groups perform certain obligations, based on their capability to regulate competing industries to ensure safe and free trade. Besides, political leaders are required to execute some demands from the voters as pertains to the economy of the country to secure them a win in next elections. Finally, institutions form a link between countries undertaking international trade as they sign treaties to facilitate this trade. Economists have come up with some theories, which illustrate the interplay ...

Introduction

For a long time, Australia has always been outward-looking nation that is strongly engaged and involved with the rest of the world. The last two centuries have particularly witnessed Australia build strong as well as enduring ties with countries across the global landscape. The bonds between Australia and many countries across the world have been forged and facilitated through a variety of aspects that range from history, trade, common strategic interests, sporting events and so on. The nature of the Australian society has also played a great role in facilitating the forging of superb relationships with other countries. Twenty-eight percent of the nation’ ...

Introduction

Economic development stands for sustained and effective actions of communities and policy makers that promote good standards of living and quality economic health of a specific region. Quantitative and qualitative changes in the economy also define economic development of a place. Any nation aiming at achieving an effective economic development must come up with a strategic plan that caters for the economical and social well-being of the citizens. Development forms one of the fundamental pillars that promote the economy of the nation. Development takes place in many aspects and various factors influence the development of the country. The location, types of economic ...

Application of Trade Manipulating Instruments in the Year 2013/2014

Countries have adopted various trade regulatory instruments in order to ensure that there trade flourishes in the international market. Essentially, in the international market it is difficult for all countries to subscribe to free trade because each country has interests to accomplish. Coupled with the financial challenges and the desire to achieve national development, most countries seem to have adopted the protectionism as a means of surviving in the wavy unbalanced international market. For instance, in Africa, Nigeria has been in the forefront of protectionism especially targeted to limit agricultural imports from other countries. Effective from the year 2013, the ...

Introduction

International free trade and environmental protection have appeared mutually exclusive in the modern world. This has been more the case at the turn of the decade of the 1990s with the adoption of the General Agreements on Tariffs and Trade (GATT) in the Uruguay Round and the subsequent establishment of the World Trade Organization in the year 1994. Liberalization in trade has been touted as a major force of enhancing the economic welfare of the world. At the same period, there arose the concept of sustainable development which emphasizes on the environmental protection and the issue of sustainable development gained ...

The Global Financial Crisis (‘GFC’) had a very dramatic impact on the domestic economies of a number of global nations, in a plethora of ways, typically replicating the fiscal and financial health of such nations. United Arab Emirates (UAE) was one such nation that had a serious impact of the GFC and since then the myriad challenges posed by the capital markets has been an interesting area of focus for the Middle East. UAE is one of the oil rich economies of the Middle East. During the initial and developing years of the last century UAE discovered new abundance and wealth from its ...

Business Cycles have a tendency to follow political cycles closely

Introduction A business can be defined as an activity one undertakes with a view of making profits. A business may also refer to an enterprise that is involved in trading of goods and services for commercial purposes. A business may be privately owned or owned by a group of individual thus making it a company or even stat owned. There are different types of business in existence nowadays and they include; sole proprietorship, partnership, corporations and cooperative. There are also different classes of business for example; agriculture, mining, financial, informational, real estate, service, retailers and transportation among many others (Willett 3). ...

- Introduction South Africa is one of the countries in Africa that is growly immensely due to its precious goods, gold and diamonds. As a result, this has attracted a number of investors into the country in that the economy of the country is growing steadily. Foreign Direct investments have been encouraged by the South African government as it not only creates employment but also contributes to the government revenue of the country. This means that the gross domestic product, which is one of the factors that measure economy grows. It is important to note that economy is the backbone ...

Impact of Macroeconomic Variables on My Business

Abstract I examined in this report the impact that the changes on the different macroeconomic variables e.g., price level, interest rate, and exchange rate have on the economy. Also, an analysis of how fiscal and monetary policies of the Australian government are presented as these policies and variables influence the success or failure of my business, the CadsBerri. Then my analysis dwell on the net value model by Brandenburger and Nalebuff to show that rational strategy could help my business survive despite the uncertainties posed by the macroeconomic environment.

Introduction

My business is on manufacturing and exporting of good ...

Environmental Studies

Deutsche Bank of Germany is a globally powerful banking and financial institution. It has been recognized in both the financial and the environmental sectors for environmentally positive actions. The eco-friendly activities include both internal and external ‘green’ actions. The Deutsche Bank’s mission statement claims that the goal of the company is to find long term financial solutions for everyone who needs financial services. “The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.” (Mission Statement, Deutsche Bank, 2013) Deutsche Bank ...

Economic development is an essential goal that all the countries across the globe strive to achieve by adopting all the possible measures that aid in achieving this goal. To effectively maintain a continuous economic development in a country, government bodies adopt legal strategies that ensure a continuous flow of trading activities that in turn generate revenues not only for the involved businesses but also for the government as well. Free trade is one of the trading measures that most countries have enacted in an effort to promote free and frequent flow of trading products and services hence leading to improved and efficient ...

Introduction

Japan is among the countries that experienced vigorous adjustments in agricultural structures in the economic development process and liberalization of the world trade. Paths of adjustment in agriculture that have been taken by Japan are different from other countries that are advanced like North America and Western Europe. This makes them conflict during negotiations of trade and world agricultural policy reforms. The agricultural sector in Japan has become the main talk of other nations concerning its strategy towards trade and liberalization. Many nations want to form partnerships with Japan. Policy makers have not created any sustainable policies towards agricultural ...

The Influence of the Stalemate in the W.T.O on the E.U.: Global Europe as New Trade Policy The Influence of the Stalemate in the W.T.O on the E.U.: Global Europe as New Trade Policy

Introduction

As an introduction, it is important to note that the European Union is one of the largest regional groups in the world. The group is an economic group which has continued to establish and execute various polices which have had a substantial effect on the trading activities in the member countries. Moreover, the group is also a political group. The recent stalemate in the world trade ...

Part 3. Economic Growth

Environmental sustainability in the EU The European Union primary goal is the sustainability development since it remains a great hurdle in the community. Sustainable development is comprised of three parts: economic, social and environmental sustainability. The main objective of EU is to consistently improve the quality of life in the environment for both the existing and future generations. The environmental sustainability is of great concern due to the energy crisis, climate change and global warming. This has led to the EU to develop long term missions and visions to prevent such an incident in the future (Rifkin & Jeremy 2004). ...

Introduction

The inter linkages of the international finance systems cannot be denied nor overemphasized. A movement in one major stock market signals either a threat or an opportunity in another stock market. For instance, a boom in the New York Stock Exchange will also signify the upbeat in the other foreign stock markets such as in Asian and Latin American markets. Conversely, the fall of the U.S. housing markets led to the credit crunch felt by most financial centers in the U.S., Great Britain, and other European markets. Hence, any threat to the global financial market may mean a single threat to the ...

Therefore, to some, relationship between WCO and other countries may be termed as sour especially given the fact that some regions are highly volatile in terms of a country’s stability and the regions within. Similarly, to some, issues that deal with narcotics and other illicit drug mar their relationships with WCO. In other cases, countries known to have high levels of production of counterfeit commodities masquerade and export/ import commodities that are substandard to unsuspecting buyers thus unscrupulously making gains while failing to adhere to WCO regulations. This tends to taint the figure of a country since most individuals tend ...

Free trades policy provides countries with the opportunity to trade among themselves without any restrictions or paying additional tariffs. It aims at eliminating any barriers placed by governments to limit how goods and services flow between trading nations. The trade barriers including tariffs and subsidies are put in place so that domestic producers can be protected from the effect of international competition. However, these barriers do not create trade flows but instead redirect trade flows. Free trade has been considered beneficial as well as harmful to global economies. There are consequences which will be involved if the US decided ...

Discussion Questions:

1. What are tariffs? Why did President Obama""?s decision to impose tariffs on imports of tires from China create so much controversy? Who benefits from the tariffs? Who could lose?

Merriam-Webster Dictionary defines tarriff as “a schedule of duties imposed by a government on imported or in some countries exported goods.” Obama’s imposition creates so much controversy because the tariff on tires contradicts the provisions in the WTO. China did not specifically violate any trade law or policy. Hence, Obama’s action is taken as a political one. However, the imports of tires from China has affected the local economy ...

1.0 The role of World Trade Organization

The World Trade Organization is an establishment that was set up out of the Uruguay rounds of General Agreement on Tariffs and Trade negotiations in 1995. It was set up as a replacement for the General Agreement on Tariffs and Trade which had previously been charged with the duty of coordination of trade relationships among its partners. The role of World Trade Organization is stipulated in the agreement that led to its formation which had a charter for the Multilateral Trade Organization mainly outlining the mechanism for the settlement of trade disputes and a Trade Policy Review Mechanism (TPRM). The roles of ...

1.0 Introduction 1.1 Background information

International Agricultural trade is the exchange of Agricultural goods and services between countries following an agreed policy guideline. This kind of trade gives rise to a world agricultural economy, in which prices of agricultural goods and services, or their supply and demand, are affected by global events. An Agricultural product that is sold to the international market is an export while an agricultural product which is bought from the international market is an import. The agricultural exports and Imports are financially explained in the country's current account in the balance of payments. It ...

Summary

A policy is typically a rule or a decision that is meant to guide decision making for the purposes of achieving outcomes that are rational. Policies can fall into several different categories and therefore, can be understood as financial, political, management, as well as administrative mechanisms or methods that are have been arranged and put in place so as an organization can obtain explicit goals. (Althaus, Bridgman, and Davis, 2007).Policies can result to impacts and effects that are both intended and unintended. The intended impacts of a policy depend on the organization and the context under which these policies were drawn. ...

In the year 1948, the Republic of China was among the 23 signatory countries of the General Agreement on Trade and Tariffs (GATT). This happened following an announcement by Taiwan’s government that the Republic of China could quit the GATT. It was after China’s revolution of 1949. However, Beijing never recognized such an announcement that its government was quitting the system. After 40 years, in 1986 the Republic of China showed an intention through a notification to GATT, that it was ready to resume its position as GATT’s system Contracting Party. As a result, an examining party was ...