Issue in global business - Essay Example

The author posits that a more global atmosphere is facing many challenges in the present, despite a high point in the latter part of the twentieth century. “Synchronized economic slowdowns in Asia, Europe and the United States, the three engines of global commerce, have decimated international trade” (Kurlantzick, 2003). This article presents one side of the issue in terms of these abovementioned regions and their impact, and it does it in great detail. The author is very convincing in arguing that global expansion is something that carries a lot more risk in the present than it used to in the past, because of regionalism being more widespread.

A lot of this expansion of regionalism has to do with the interstices between the relatively recent formation of the EU and the valuation of law in society. Randomness and chaos rule both systems. “The rotation of the presidency entails a lack of continuity in the agenda-setting procedure; the Summit agendas are overloaded with gritty details and each presidency pursues more or less specific topics (‘shopping lists’). This is why the Council currently fails to fulfill its original strategic purpose.

Thus, the EU definitely needs a reform of its institutions” (Bilefsky, 2005). Other issues are also dividing regional law in the present can be seen in the case example of subsidies, or government help, offered to agricultural interests. Recently, before the government of Brown, “The issue of farm subsidies has also divided the European Union into nations favoring more open markets and those who want to maintain protection for their domestic industries. Prime Minister Tony Blair of Britain called the summit meeting Thursday in the hope of persuading European Union countries to adopt a more modern, liberalizing approach” (Bilefsky, 2005).

Regionalisation can either encourage or discourage free trade, depending