Got a tricky question? Receive an answer from students like you! Try us!

various methods and attempts employed in the harmonization of international trade law. - Coursework Example

Only on StudentShare
High school
Author : ibotsford
Coursework
Finance & Accounting
Pages 9 (2259 words)

Summary

(Name) (University) (Course) (Tutor) (Date) INTRODUCTION 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, globalisation becomes indispensable…

Extract of sample
various methods and attempts employed in the harmonization of international trade law.

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. ...
Download paper

Related Essays

Contemporary Study of the Impact of Standardization and Harmonization of Accounting Standards
However, the existence of dissimilar accounting practices can be a crucial challenge linked with the aforesaid procedure. In this similar context, ethical dilemma plays an imperative part in harmonising along with standardising the accounting standards as it concerns certain significant moral values that include honesty, reliability, durability and integrity among others. From research methodological viewpoint, both quantitative as well as qualitative research approaches have been taken into concern. Moreover, valuable data associated with this research study has been collected through the…
32 pages (8032 words)
International aspects of business law
Increasingly international trade organizations such as the WTO and bilateral free-trade agreements such as those in place with the United States and E.U. can significantly shape and alter the economic environment in a way that financial planners must identify and manage for investment clients with advance preparation. The importance of international law to traders in this context of financial investment services and commodities trading particularly cannot be understated, as it is a direct aspect of risk management operations that form a part of due diligence in any overseas investment…
8 pages (2008 words)
How is International Law Enforced?
Laws are only as good as their ability to be enforced and in a decentralized world that is torn apart by self-seeking interests and motives, enforcement of international laws seems a very tall order. This is evinced by the way the organs of the United Nations have behaved in the past, particularly the Security Council, which had difficulty arriving at consensus in resolving problems simply because the chamber has, most of the time, become an extended arena of power struggle. Moreover, not only is the entire international judicial and legal system underpinned by the voluntary participation and…
30 pages (7530 words)
International Trade & Banking / International Bank Management
The fixed vs. volatile exchange rate dichotomy is no longer relevant. Globalization and financial liberalization impose new demands on central banks. Whatever the type of exchange rate regime countries choose, under the pressure of globalization central banks strive to preserve and strengthen their independence, governed by market-based forces and pressured to enhance financial stability at the national level. The changing role of central banks in various exchange rate regimes in conditions of globalization What exchange rate regime to choose has long been a matter of governments’ concern.…
5 pages (1255 words)
Perspectives on International Trade and Finance
Joining WTO posed a vital influence on the political as well as economic reforms of China which were learnt to be influencing the telecom sector as well. Xiaolingtong is a mobile network which was developed in the year 1999, before China joined WTO and was controlled by the Ministry of Information Industry (MII) which was considered to be the backbone of the fixed line service providers. Later on, significant developments were made with regard to Xiaolingtong which assisted in capturing a significant share in the foreign market. The government provided full support towards the development of…
9 pages (2259 words)
Perspective on International Trade and Finance
This paper focuses on the trade disputes involving China, the impact and the determinants of foreign exchange rates, the valuation of the Chinese currency before and after the reforms. This paper also discusses the options that are available to China for reform of its exchange rate system. Introduction The level of exports by China had amplified radically from $250 billion in the year 2000 to a proposed $1,500 billion in the year 2009. This massive increase of Chinese exports severely hampered rival businesses in the developed countries, predominantly the Europe and the United States. In 2001,…
8 pages (2008 words)
Harmonization of Financial standards and reporting standards
In relation to this discussion, the integration of accounting practices followed by the company with that prevailing within the host country is also an important issue faced by the company in its global business practices. In order to address this issue, the phenomena of harmonization of different accounting standards and practices and emergence of a common set of accounting standards has come into lime light (Choi, Frost and Meek 1999). In this context, the paper aims to discuss the phenomena of harmonization and evolution of one common set of accounting standards in the most empirical…
8 pages (2008 words)