This research is governed by the following research question, which will aid in attaining objectives and aim of the research: Is it prepared or willing to engage with the UK within the standard practices and rules accepted by the international trading community?…
This research will begin with the statement that since the collapse of the Soviet Union, Russia has been widely seen as an emerging economic powerhouse in the global trade as it adopted the democratic form of government and the free market. Today, the country, along with Brazil, India and China, constitute the so-called BRIC, the block that leads the developing world in terms of growth and economic transformation. In an appeal written back in 2008 by Jim Murphy MP, the UK Minister for Europe, Foreign and Commonwealth to the Chairman of the Parliament’s European Union Committee, the previous point was raised to underscore the importance of Russia as a trading partner. In addition, Murphy argued that Russia share many common interests and face many common challenges with European countries such as Britain. His point reflect the general attitude in the UK policy networks that to pursue bilateral relations with the country is beneficial for not just for the UK and Russia, but also for the European Union and the global economy. The problem, however, with Russia as a trading partner rests on the country’s position and policies with regards to international trade. International trade is a popular subject in the academic field. The increasing integration of the international market and the dominance of free trade drive this interest. It is not surprising, hence, to find sufficient and comprehensive body of literature that tackle the post-Communist Russian experience and its trade relations with other countries such as the United Kingdom. International Trade This review starts with the dynamics of international trade in an attempt to provide the framework to contextualize the scope of this research. In this area, the work of Augier et al. (2005) proved helpful. Their work explained how international trade works by providing a historical account, in-depth analysis on the series of events that led to the current free trade regime, specifically the emergence and role of the World Trade Organization. A more important contribution, however, is their description of the concept of “rules of origin” in international trade. By explaining how it works, the researchers were able to identify the factors behind free trade agreements, preferences in these agreements as well as the relationship between trade partners. Similar works include an earlier research by Groteworld (1971), which mapped out the patterns of international trade in the period of the infancy of globalization, that by Patrick McDonald (2004), who outlined the impact of free trade; and Norling and Swanstrom’s (2007) investigation of the Eurasian trade dynamics. British Perspective Scholarly work all point to the fact that Britain is one of the earliest that embraced free trade. A relevant historical account, including an examination on the motivations and eventual development of the economic model in Britain, can be found in William Grampp’s (1987) work. The importance of this research is the analysis behind the adoption and endorsement by the British government of free trade, which would have a lasting impact on the ...
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76 Pages(19000 words)Dissertation
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