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International Competitiveness - Essay Example

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International competitiveness should lead to a win-win scenario for both developed and developing countries. This could be possible only in the case of implementing a solid fair trade policy. In relation to free trade, Margaret Thatcher's slogan of "There Is No Alternative" (TINA) is very famous…
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International Competitiveness
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International Competitiveness

Download file to see previous pages... The richest countries will become even richer, and the poorest countries will become much poorer. The only solution is fair trade that takes into account cooperation and competition at the same time. The rich countries should cooperate with the poor countries so they can adapt themselves to an ethical globalisation process not only in the economic sense but also in all the dimensions of global integration.
Globalisation is here to stay. The worldwide integration is possible thanks to the technological and scientific advances of human kind. Anup Shah makes the following assertion about the current state of globalisation:
"The world is becoming more globalized, there is no doubt about that. While that sounds promising, the current form of globalization, neoliberalism, free trade and open markets are coming under much criticism. The interests of powerful nations and corporations are shaping the terms of world trade." (Shah, 2007).
In this global scenario, developing countries should be protected against the greedy interests of the developed countries. Shah states the following remarks that should be taken into account by all interested parties:
"Margaret Thatcher's slogan of "there is no alternative" rings sharply. ...
Global Policy Forum (2007) recognises that the theory behind global economic integration sounds good for everybody, but at the same time everybody should be aware of its shortcomings:
"Capitalist economic theory holds that a completely liberalized global market is the most efficient way to foster growth, because each country specializes in producing the goods and services in which it has a comparative advantage. Yet, in practice, cutting trade barriers and opening markets do not necessarily generate development. Rich countries and large corporations dominate the global marketplace and create very unequal relations of power and information. As a result, trade is inherently unequal and poor countries seldom experience rising well-being but increasing unemployment, poverty, and income inequality." (Global Policiy Forum, 2007).
S. Matt (2005) points out 8 different positions in relation to the trade debate as follows:
"Position 1. The neo-classical story: free trade on the basis of comparative advantage. ()
Position 2. Free trade but
a. Strategic traders & Competitive advantage ().
b. Yes to free trade, no to free financial markets. ()
Position 3. Anti-Free-Trade - traditional arguments. ()
Position 4. Fair Trade. ()
Position 5. Yes to trade - no to free trade; Exogenous development; Reform the WTO. ()
Position 6. Abolish the WTO; Endogenous development. ()
Position 7. Abolish the WTO; abolish capitalism. ()
Position 8. Localism - no to trade in general. ()" (Matt, 2005).
Positions 4 and 5 should be taken into consideration with great emphasis as they represent solid positions that can help in the economic and human ...Download file to see next pagesRead More
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