Essays on International Trade

Free Trade and Trade Agreements Free trade is an idea of a free market where a country eliminates trade restrictions on imports and exports. It is characterized by free movement of labour, free entry to markets and access to market information and conduction of trade without taxes (Bustos, 2011). Usually, trade...

International political economy, IPE refers to social science that seeks to understand how political institutions and actors influence economic interactions in the global trading, borrowing, investment and lending. The study of international political economy is important because a country’s economic and political choices are affected by the money flows and...

IEC Electronics is an American company in New York established in 1966 and deals with electronic components. IEC Electronics manufactures electronic components such as circuit boards, electrical cables, and wires for different industries including the military, healthcare, transport industry among others. Additional activities done by the company are such as...

Since the reestablishment of diplomatic relations between the United States and China trade transactions between the two countries have steadily evolved leading to the signing of multiple bilateral trade treaties. These treaties are meant to guide and improve trade agreements. China has undertaken significant economic reforms which have been complemented...

The Importance of Stock Markets in Economic Growth The tremendous economic growth witnessed in developing countries over the last decade can, partly, be attributed to entrenchment and strengthening of the free market policies. Such policies include those designed to encourage local and international firms to list in the respective countries’ stock...

In a perfect world, everyone knows the difference between right and wrong, but in the real world, things often remain unclear. The chance is that someone’s wrong deed is your right deed, and your own wrong deed is someone’s right deed. The same is the situation of companies that intend...

The Colombian Exchange The Colombian Exchange was once a significant commerce route connecting the New and Old Worlds in the western and eastern hemispheres. Almost all of the world's cultures were impacted by the exchange. It encouraged widespread migration of people, both voluntarily and forcibly. The travelers from the Colombian Exchange...

Comparative advantage is an essential idea in determining who trades with whom. David Ricardo invented it in order to explain international trade. In the preceding scenario of the United States vs Mexico in the production of construction equipment, the United States has a comparative advantage since their opportunity costs are...

One of the biggest global industries and the hub of globalization in international trade is the hospitality sector. With a wide range of services and employment opportunities across numerous industries, it is currently the largest employer in the world. The industry's most important segment is the food and beverage selection,...

The Advantage of a Fixed Exchange Rate The advantage of a fixed exchange rate is that it ensures price stability in the international market, preventing undesired price changes. Because of the lessened volatility in the financial markets, this ensures economic stability and prosperity. Pricing fluctuations create variations in output and, as...

The Worldwide Trading Corporation (WWTC) is a large Hong Kong-based online broker. This company has around 9000 people spread over the globe in its branches. As a result of the dynamic business development, a regional center in New York was required. Today, the New York WWTC office is experiencing audit...

The North American Free Trade Agreement (NAFTA) The North American Free Trade Agreement (NAFTA) is a free trade agreement signed by Canada, the United States, and Mexico. This deal was reached by George H.W. Bush's administration on December 17, 1992, but it took effect on January 1, 1994. The Benefits and Effects...