Trade and Globalization Name Institution Trade and Globalization The changing trends in the market open avenues that promote trade across the world. Interest of different nations offers an opportunity that promotes trade. Many countries are interested in opening markets for their products…
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Asian countries are busy developing channels that would lead them to penetrate the American markets. Addressing the interest of the countries involved in trade promote globalization and development trade policies among the member countries. This paper explores trade, globalization between America and Asia. Trade is a major factor that dictates economic growth of a country. Trade open links that promote international relation between countries involved. Asian and Latin America have recorded growth in trade and globalization because of the comprehensive policies that they have developed (Lynch, 2010). These policies aimed at leveraging factors that hampered trade. Bilateral trade is a situation where two countries devise policies that lead to trade between them. Structures, which promote this trade, address issues like tax policies, legislation and any other factor that would make the trading difficult. For example trade between China and America has grown over the resent past due to open trade policies that these two countries have adopted. Bilateral trade between China and countries in Latin America has registered growth. Research indicates that Latin America receives much of its imports from Asia. Several factors work towards promoting trade between Asia and America. Some of these factors include the following good relationship between the countries involved. The mutual relationship that exists between the countries involved in the bilateral trade contributed to the growth in the region. The following strategies have provided an enabling environment for the existence of bilateral trade between Asia and America. Creation of an enabling environment for the Caribbean and Latin America countries to offer supply chain in the Asian markets (Lynch, 2010). Creation of a trade relation between the countries involved. These strategies have provided an enabling environment for trade between Asia and America. Customization of the bilateral trade to suit the international standard has greatly led to the growth of trade between the two regions (Lynch, 2010). Opening of these regions to accommodate the global trade is a deliberate attempt that aims at expanding bilateral trade. The Asian countries took an approach that led to the formation of regional economic cooperation. Economic cooperation usually advocates for common tools that would provide trading environment. The international standards help the countries involved to work towards achieving a common objective. Largely, agencies involved in designing trade boundaries have developed proper channels, which have acted towards the growth of the trade. Legal system among the countries involved must provide an opportunity for the countries involved to trade. Some legal policies dictate the entry behavior of a country in the market. Largely, the influence of IMF policies plays a great role in defining the policies that these countries adopt for their trade. The progress of the countries relies on the efficiency of the policy adopted. Poor policies influence trade negatively. The economic growth of the Asian countries has recorded a substantial growth because of the changes in the global trading trends. Globalization has led to development of the international payment system, which incorporate electronics payment methods. Globalization refers to a system where countries collaborate to eliminate factors that influence trade. The aim of
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(Trade and Globalization Essay Example | Topics and Well Written Essays - 1250 Words)
“Trade and Globalization Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/macro-microeconomics/1436877-examine-and-analyze-in-detail-one-of-the-policies.
Background The World Trade Organization (WTO) was officially established or created on January 1, 1995 as the legal and institutional foundation of the international trading system. It is comprised of about 180 member countries (Buterbaugh, 2008). The members commit to follow and stick to the trade rules set by the organization.
Globalization is such as the force that influences operations the world over, positively or negatively. Issues to do with free trade in relation to globalization have occupied debates in economics for a very long time, in various tenets, including the national government's roles and the international stipulations.
Subsequently, Samuelson expanded his original theorem and others like Kemp and Kenen validated it (Grandmont & McFadden 1972, p.109). Samuelson’s theorem consolidated the ‘gains from international trade proposition’ (GFITP) that have long been espoused by economists.
Free trade during colonialism and free trade during globalization have lot of similarities and differences in principles and practices. It should be noted that during colonialism, colonial powers encouraged free trade to safeguard their interests alone whereas at present or during globalization period, free trade is encouraged by all countries because of its potentials to rejuvenate the economy of countries irrespective of rich or poor.
What is "globalization"?
Globalization has emerged in the past two decades as one of the major factors for growth in especially worldwide trade activities. Globalization can be defined as “a process that encompasses the causes, course, and consequences of transnational and transcultural integration of human and non-human activities” .
The transition from the Transatlantic Slave Trade and slavery involved compensation payments to the owners, and a gradual change of status for the African slaves, who went through a period of apprenticeship from 1833 before being declared free in 1838. There were difficult problems of enforcement during this transitional period, especially in the British West Indies, where emancipation threatened financial vested interests.
Free flow of capital in and out of Canada,free trade and the existence of multinational companies have together linked Canada to the rest of the world's economies.In addition, Canada has become a part of continental integration through the North American Free Trade Agreement
In a progressively more global world, a number of gains are there to write home. The various inter-governmental organizations are not as much effectual, and international businesses and entities continue to define stipulations. Governments’ role
This essay will look into the major patterns in regard to the international trade and examine the positive and negative effects of the globalization. The discussion will also assess the influence different groups such as consumers of trade as well as limitations between blocks and countries and touch on international production and its aspects of foreign direct investment.
15 Pages(3750 words)Essay
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