The major weaknesses of this study are concentrated on the competition in the global marketplace. The following paper operates mainly based on research question which can be stated as follows: Should we protect ourselves from international trade?…
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This research will begin with the definition of globalization as increase in the degree of economical interaction between countries. This is a process of geographical realignment of networks, production and consumption and sites of power. Therefore, globalization can be said to be the integration of trade, technology investments capital and labor markets worldwide. This involves, opening up of the national economies into a global village, where it is considered as the process of increasing interdependence of individuals, group, companies and countries brought about by technological, economic and political change. This has made many countries engage in international trade, where countries have harnessed many benefits through international trade. This includes increased customer choices; customers obtain goods of high quality at lower prices, promotion of peace and relation between countries. In addition to these, companies that choose to operate globally benefit from increased sales, this result to higher profit, and also acquire a wider distribution channel. Apart from the benefit mentioned above, globalization or internationalization leads to the emergence of global competition. Global competition refers to a situation where organizations cross-subsidies the domestic market share, battles in quest of global brand and gaining control of distribution position in the international markets. Global completion arises where company engages in an effort of acquiring a certain percentage of the global market. Global competition may involve both fair and unfair practices. This results to trade injustice to the aggrieved states, since the unfair practices limit their trading capacity. Global competition has emerged as a persistent problem to many companies both from the developed countries and developing countries, due to the presence of trade Restriction, unfair Practices adopted by some states and high level of leniency, by the World Trade Organization. In an effort to control the global market, many multinational companies and their states have adopted strategies that ensure the achieve they objectives. Such strategies, includes; Transfer pricing. Transfer pricing refers to a situation where multinational companies transfer good from one of their overseas branches or subsidiary. In this case, multinational companies transfer goods from regions or states of high taxation to those or lower taxation. Through such transfers, multinational companies are able to reduce their tax burdens. Reduction in tax liability facing such multinational companies results to increased profitability to the companies . Devaluation Many states result in devaluing their domestic Currency against major world currencies such the sterling pound and the US dollar, which are the currencies used in carrying out transactions in the international markets. Devaluation of a domestic currency result to a situation where a state exports become more expensive and the import made by such states becomes cheaper (Klein & Shambaugh, 2010). This is unfair practices, since when a state devalues its currency, a product fetches more in the global market in terms domestic currency as compared to before. States like china which has joined the big three world economies engages in devaluation so can benefit more from international trading than their trading partners. Therefore, devaluation of their country would enable them to import raw materials cheaper, while at the same time getting a large amount of resources through their exports. Currency convertibility also inhibits free trade among the nations. Low cost of production. Another objective of any multinational company, is to reduce the cost of production. Cost of production mainly composes of cost incurred in production of the final goods both producer and consumer goods. Such cost includes the cost of acquiring raw material, cost involved in turning the raw materials to
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(Competition in the Global Marketplace: Should We Protect Ourselves Term Paper)
“Competition in the Global Marketplace: Should We Protect Ourselves Term Paper”, n.d. https://studentshare.org/business/1395876-competition-in-the-global-marketplace-should-we.
With the help of modern techniques, up to date procedures, contemporary practices, globalization and highly advanced transportation system the International trade system is spreading really fast. 1) "Trade restrictions will stop foreign imports, which will increase American employment and protect American jobs." Most economists realize this argument is wrong.
UPS and Global Marketplace
So to stay competitive and successful they must follow the global trends. They must be competent enough to handle new challenges in the market by generating globalization process. Logistical companies are more engaged with the outside business cooperators and they are more inclined on low cost and high quality.
GAAT also sought to eliminate regional preferences and thus create a trading environment where all the countries were better placed to undertake trade with each other, without unnecessary prohibitions (GATT, 12). The enactment of this agreement occurred in six rounds, where different aspects of the agreement were agreed, until the final round when all the agreements were then consolidate to form the final agreements, which lasted until 1994, when they GAAT was then replaced by the World Trade Organization.
Answer The preamble of GATT describes about the motives and purpose of forming it. Full employment, increased standards of living through steady growth of income and to make full use of world resources to expand the production base and exchange of goods were the motives behind formation of the GATT (World Trade Organization).
What Women Want: The Global Marketplace Turns Women Friendly.
One single characteristic is common to nearly all living organisms (Ayass, 2009). The characteristic is that most creatures, including humans, have male and female members (Ayass, 2009). One unique feature among humans is a specialized adaption to move sex from a physical or biological characteristic into a fully integrated sociological characteristic.
Conclusions or Policy Suggestions 5 References 7 Appendix 8 Appendix 1 8 Appendix 2 9 1. Introduction Recently, increasing significance of international trade has been in turn augmenting competition in the global context along with contributing to the increasing socio-political interdependency of various nations through overlapping trade frameworks.
In this paper, the increasing problem of competition in the airline sector has been explained with reference to Qatar Airways. The paper has also provided the explanation of different ways the managers in the organisation strive to cope up with the problems of international competition and implementation of certain strategies has been suggested in the paper.
Firstly, it emphasizes the response of public sector and secondly to stabilize the economic cycle, the fiscal policy is to be made by government and monetary policy should be formulated by the central or state bank. Keynes
Introduction: I will be talking about what international trade is and try to explain some important concepts related to it. In the paper I will first define the concept of international trade and then talk about the gains