This research will begin with the statement that international trade is the kind of trade that takes place across nations all over the world either bilaterally or multilaterally. In a world getting smaller day by day courtesy of the agents of technology, globalization becomes indispensable. As the world gets digital and globalization gains root, the prominence of international trade as an aspect of international relations demands careful attention. It is realized that as trade continues to gain momentum across nations, so do the impediments hampering free trade emerge. Free trade is meant to be a mutual agenda between the countries. Nations across the world strive as much as possible to benefit from the trade. In the same vein, challenges emerge as no nation can derive ultimate benefits. Different nations across the world operate under different systems. Such differences have become so diverse that much attention has now been drawn towards addressing them. It, therefore, begs the analysis of the factors that limit international trade. It is in that vein that the difference in trade laws comes to light. It is becoming much difficult for nations across the globe to freely trade due to the sharp differences that exist in laws governing trade in different parts of the world. For instance, a North American exporter will find it almost difficult to export certain products to the Asian countries courtesy of the legal rigidities that are artificially created for various reasons. Nations limit trade so as to regulate deficits on their budgets. Considering that such a deficit might be disastrous to the affected economy. Moreover the need to control the dumping of products into the economy also necessitates the introduction of regulatory measures. In one respect, such measures are never malicious. Rather they are of great essence in ensuring that the international trade benefits all the parties involved. The need to remove such limiting factors therefore sparks off the debate. The discourse becomes further intricate when dealing with legal the aspects of international trade. There exist several statutes and regulations in the world governing international trade. Such statutes are normally enacted to regulate price fixing, competition and to govern free trade between countries. Trade regulation is a theme of law that encompasses governments’ regulations of international trade, the laws relating to fair competition, ethical considerations in international trade and antitrust law. Antitrust law is a branch of trade regulation law that widely includes consumer protection law, distribution law and franchise law. (Osle, 2008) International trade laws exist in various respects both at private and public law. Private international law is derived from the various countries that relate internationally. It controls treaties, conventions and guides model laws. Private international law is applied in monitoring local and foreign judgements relating to legal disputes (Shaw, 2005).It is therefore a great concern in business dealings. The Hague conference on Private international law was a great milestone toward the development of private international law. It encompasses all aspects relating to private law from jurisdictional considerations to contract law. Public international law on the other hand comprises of all the rules and laws that relate to the demeanour of states and other organizations within them as well as their relationships with both artificial and natural persons (Shaw, 2005). A merchant dealing in international trade is inevitably drawn into this complex nexus of differing intricate laws that require attention. These diverse laws have continued to be an impediment towards the achievement of the benefits that accrue by virtue of a free global trade. This therefore creates the need to address this emerging problem by seeking avenues to harmonize these laws into a single streamlined legal system that enhances free trade. The sooner this is achieved the better. Myriad avenues have been proposed as modalities
This research analyzes various methods and attempts employed in the harmonization of international trade law. This paper has such sections: conventions and treaties; economic integration; competition; financial support; the world trade organization; global awareness; forced measures…
the WTO’s role as a regulatory body for international trade has become even more critical, and due to the needs, its role has been extended beyond its primary role in negotiating and formulating trade agreements and providing solutions to international trade conflicts. The WTO has also other functions including reviewing the international trade policies, providing support to the developing nations to develop policies, assisting in training with respect to trade and bringing about international mutual cooperation with relation to trade. There are more than 153 under the WTO and more than 96% of the global trade is enabled, along with several non-full-time members that make take part i
One of the oldest forms of international trading is arbitrage, the discovery of lower prices in one market and profitable resale opportunities in other environments globally. For traders of commodities which require physical transportation and delivery to other markets, international agreements will apply to the transaction as well as to import taxes and duties.
Jurisdiction – description and effects 1. Jurisdiction 4 a. Subject matter jurisdiction 4 b. In personam jurisdiction 4 B. Choice of law 1. Choice of law in contracts 5 a. Express choice 5 b. Implied choice 5 2. Choice of jurisdiction clause v choice of law clause 6 C.
However, there some challenges’ which employees and managers face in information strategy practice. The major one is managerial styles may be a problem. For example, if the managers are inexperienced in information sharing, have a paternalistic approach, have issues in sharing knowledge and decision making, or they operate within an inflexible hierarchical organization.
Nevertheless, it has also created progressing nations more susceptible to modern and dangerous forms of ant rivalry trading traditions. Putting proficient guiding framework in regions to ensure that commerce competes is an intricate and composite task, Teece, D.
This report starts with addressing the trends, in the last five years or so, within International trade and foreign direct investment and give comments on the developing countries’ share in world trade in goods and services. It will then go on to the evaluation of the legal, political and economic effects of world trade liberalization.
Acceptance is in either writing or verbally (Santos, 2010). The third factor is that the parties engaging in the contract must come up with legal relations. This means that they must create a legally bound agreement. Lastly, for a contract to
1 pages (250 words)Coursework
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