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various methods and attempts employed in the harmonization of international trade law. - Coursework Example
Author : ibotsford
Finance & Accounting
Pages 9 (2259 words)
(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…
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. ...