Analysis of the Trade-Off Between the Economic Benefits - Case Study Example

Explain and analyze the trade-off between the economic benefits as opposed to the ethical and environmental problems of increasing international trade. Use examples from emerging markets to illustrate and propose relevant solutions to the difficulties in question. International trade depends a great deal on the initiatives undertaken by the organizations that have engaged their own selves within the relevant business quarters. Even though international trade is dependent on the ways of the different business organizations that operate on varied levels, the manner in which trade is carried about is very significant towards the eventual objectives and goals that could be envisaged. When there is trade taking place on a global level, there is solid evidence that problems of different magnitudes come about in an apparent fashion. What is important is to manage these problems and issues in such a way that the trade does not get affected by the same and hence there are solutions written in the wake of adverse times. International trade therefore depends a great deal on the way the stakeholders work alongside one another and in harmony with the resources that are available at their disposal. The economic benefits are there for the taking as far as the global trading regimes are concerned but there is also an important discussion hat surrounds the ethical and environmental debate. The moral values and principles need to be understood properly so that success could creep in within the required criterion set by the business organizations from time to time (Moon 2000). Business regimes therefore have a difficult time in analyzing the way the ethical domains are weighed with regards to the economic benefits that take place on a consistent basis. In essence success is just a parameter that must be analyzed whilst understanding the proper domains of international trade. When international trade takes place, there are serious issues that crop up on a consistent basis. These are only normal because trade involves production of goods, moving them across different channels and means, relying on modes of transport, policies that need to be taken care of and so on and so forth. One must not forget that when international trade takes place, there are efforts which are put in within the research regimes as well. Hence this is a complete 360 degree ideology which needs to be understood in the real sense of the word (Grimwade 2000). It is a fact that international trade does not happen as a one-off situation and therefore needs to be analyzed and understood in a manner which must have proper care and consideration by all the stakeholders, both direct as well as indirect. What this means is that those organizational concerns and people who are directly affected by this international trade activity need to be kept on board as well as the ones who are the intermediary links and thus do not have a huge say within the related ranks. The world of trade is therefore dependent on the way the trade regimes view it and thus absorb the same within different manifestations. These are important as these dictate the very essence of success for the trading realms in the long run scheme of things. International trade surely has a number of high points that can be cashed upon in entirety. However the low points affect the world’s sanity in more ways than one. The latter aspect points towards the missing links which are there within the ethical and environmental debates all around the world. These low points have essentially discerned the very essence of the world’s biggest trading bodies and how these have fallen short of the expected outcomes by the people as well as other organizations who want to do their best towards making this world a better place. This can so easily be stated in the form of a discussion that centers on the premise of bringing about a change which is global in nature however the same will take place when the world’s biggest organizations understand their respective roles in a way that they should. There is a great deal of missing information that needs to be properly taken care of before moving ahead any further on this point. The agenda perhaps needs to be aligned for the overall betterment of humanity and the trade to get developed and even more advanced in the long term. However this can only happen when concerted efforts rule the roost within the trading regimes and when the minor tussles and disputes are shown the door in the larger context of providing value and quality for the sake of the world. The economic benefits that the international trading organizations bring to the table need to be analyzed in such a way that the ethical and environmental issues are also kept in retrospective. This is because if either of the two is spoken about in seclusion, there could be problems for the stakeholders and who might suffer as a result of lending support for one of the two. There must be a balancing act here and there so as to thwart the long term problems for the generations that will follow as well as the ones that are alive today. The combined understanding of these two domains makes the people realize where the trading bodies and movements are going wrong and what needs to be corrected so that sanity could prevail at the end of the day. This is a much needed proposition because the entire fabric of humanity depends on the decisions that are undertaken by a select few, under the aegis of international trade bodies and similar manifestations. Therefore the responsibility does not rest with a chosen few but with the people for whom these trading links are formed up in the first place. They have to play their due role as well so that their voice gets heard in a proper manner and thus the trade bodies understand where they are going wrong and what needs to be done in order to counter the wrongs within the society and within the trading levels. This is a very important point and thus needs to be comprehended in a similar fashion. There is reason enough to believe that humanity has a role within the economic benefits and the attached environmental and ethical issues that crop up every now and so often. The economic benefits might look very rosy to an organization that is all geared to entice trade relationships and links far and wide but these shall in reality turn out to be of no good use for the sake of the people (Rauscher 1997). The people are indeed the beneficiaries, both from a positive outlook as well as in a negative way, as this embodies the need to comprehend the fact that any trade body would surely require a proper procedure and set agenda that must be followed in entirety. This will pave the way for its eventual success in the long run. It will also manifest the basis of growth and development over an extended period of time and notwithstanding a time period that is estimated in the beginning only. More than anything else, there would be an adequate arrangement for highlighting how these economic benefits go hand in hand with the ethical issues and how the two of these could work alongside one another so that the people at large do not get affected by the same in a negative way. There needs to be chalking up of positives and nothing else within the related scheme of things as this will ensure success in nearly all trade manifestations and undertakings for just about everyone who is related under the aegis of trade. The countries which are impoverished and basically remarked as the third world nations are usually the ones who have manifested their own selves within the domains of those emerging markets where international trade is in its infancy stage and hence there are more ethical and environmental issues than the benefits that could be categorized under a different heading. These need to be properly scrutinized because each underdeveloped nation has a huge plethora of problems which needs to be assessed beforehand. This embodies the basis of understanding that trade links do not get developed because of a single reason; there could be issues that need to be taken care of and hence the magnanimity of the problems also means that the underdeveloped nations go on the route of progress without taking into consideration what can be remarked as good from the outset and what is not (Lawrence 1996). The manner in which these third world nations are playing their respective roles is something that is a responsibility which lies on the shoulders of the already developed ones, like USA, France, Great Britain, Russia and China to name a few. This would mean that the developed countries, which are the first world nations, have a proper know-how as to where the wrongs are marring the very basis of humanity in a number of different ways and means. A proper check and balance mechanism needs to be incorporated from the angle of the first world nations down towards the underdeveloped ones, as this is indeed the case within any field of life, notwithstanding trade regimes alone. Thus the third world nations are at the behest of receiving support from the developed nations because there is a huge divide between the two. This means that the people who are directly or indirectly related with the business fraternities and more specifically with the trading authorities have a great role to play within the related midst of things. The environmental concerns that the world has owes a great deal on the way that the third world nations have made use of their resources for a long period of time now. They have wasted their resources, turned out toxic gases and emitted waste materials into open air, thus making not only their own people suffer but also the rest of the world. The case of the ozone layer is something that will haunt the coming generations and because of that the global warming debates have started to make the relevant rounds more and more. These are stark realities which need to be comprehended in a proper manner so that any missing avenues are taken care of, right from the outset of any such discussions (Diamond 1996). The collective efforts of the people who remain busy with the international trade regimes are needed, because this will mean success for one and all in the long run. However having said that, much needs to be done on the ground and making statements will not help the cause of anyone. The emerging markets of India, Sri Lanka, Pakistan, Bangladesh within Asia; Kenya, Tanzania and Egypt within Africa; Brazil, Argentina, Uruguay and Chile within South America are some of the examples that must be understood in order to form a cohesive link amongst nations that are having trade links outside the respective nations. These have formed relationships that are of an irreversible nature and hence cutting down on such links would mean that one region or the other suffers on the same count. Thus people would be at a loss more than anyone else and this would put their lives under serious risk (Rich 1992). The Asian economies do not allow the nations to go back on their trade links that the same have developed with either the first world countries or with those nations that are self-sufficient within one area of trade. This is because there is a great deal of dependence within the respective area of business and the entire region would suffer as a result of the same. A lot of people would be impoverished and hence many would be put at a loss due to the same. What is needed in essence is an understanding that people would not be at risk and hence the trading links will be taken care of without any serious issues coming to the fore in the future. However this is easier said than done because economies have a huge role to play within the Asian, African and South American nations, to state a few as examples. Also the way the first world nations conduct their trade operations with these third world countries leaves a great amount of room for understanding the related notions, more so because trade is one such area where there are a number of predicaments at different levels (Golub 1999). Some of these would mean that the toxic emissions of gases are polluting the environment while others would ask for child labor to be incorporated within the third world countries’ business operations (Landau 2004). All such facets leave a very bad taste in the mouth and there is solid reason that embodies the basis of such discussions. What is even worse is the fact that the policy makers are naïve of the fact that the third world nations need to be allotted a good share of the resources so that they could look after their problems easily and with more control. This would give them a sense of purpose and control over the kind of ethical wrongdoings that they are committing as well as the environmental issues that are surfacing in a number of different ways for all the wrong reasons. These could only be pinpointed when the distribution of raw materials is done in a justifiable way across the cross-section of nations throughout the world. There must not be any demarcations when one thinks of the developed and the underdeveloped nations of the world. International trade within emerging markets is a very serious issue which puts the whole debate under a quagmire. What this brings to light is the fact that international trade implicates measures for success and achievement in such a way that there are more benefits for the people who are working under them, no matter in whichever area of the world. Also they have a responsibility to look after the people who are not directly attached or linked with the international trade realms yet they suffer on more counts due to the ethical concerns as well as the environmental issues that crop up within such discussions every now and then. The role of the world’s biggest bodies like World Trade Organization (WTO), the International Monetary Fund (IMF), the World Bank, United Nations and so on is immensely quintessential because these embody the exact ways and procedures through which positive change could be envisaged and eventually implemented within the thick of things (Kemp 2001). One can look forward to a number of positive changes happening within the related trade regimes in the coming times only if these organizations and world bodies pull up their socks and let their work rule the roost in a very cordial way. The trade-off can only take place when the people are shown the positives in a way that they feel comfortable about the same. This is a very difficult thing to do in entirety yet it is not something that is impossible to achieve (Narlikar 2003). All said and done, the race in time as far as future of humanity is concerned rests on the shoulders of the people who run these trade bodies; form up as the top management domains within the organizations and so on. Now they need to get their act together and do what they do best – bring about a sense of positive change and betterment for the sake of the society. Bibliography DIAMOND, Stephen. (1996). The Legal and Economic Basis of International Trade. Quorum Books GOLUB, Stephen. (1999). Labor Costs and International Trade. American Enterprise Institute GRIMWADE, Nigel. (2000). International Trade: New Patterns of Trade, Production & Investment. Routledge KEMP, Murray. (2001). International Trade and National Welfare. Routledge LANDAU, Alice. (2004). The International Trade System. Routledge LAWRENCE, Robert. (1996). Single World, Divided Nations? International Trade and OECD Labor Markets. The Brookings Institution MOON, Bruce. (2000). Dilemmas of International Trade. Westview Press NARLIKAR, Amrita. (2003). International Trade and Developing Countries: Bargaining Coalitions in the GATT & WTO. Routledge RAUSCHER, Michael. (1997). International Trade, Factor Movements, and the Environment. Clarendon Press RICH, David. (1992). The Economics of International Trade: An Independent View. Quorum Books Word Count: 2,551 Read More