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International Trade Essay

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For any country that wants to survive in the toughest of times nowadays have to have good international trading capabilities. Very few countries are able to sustain themselves without indulging in intensive international trade. International trade and globalization have been considered a good omen in the past but with changing world conditions such as the debt crisis, child labor issues, growth inequality issues hands are being raised at the benefits of world/international trading. There have been anti-globalization forces over the years protesting to either slow down or stop globalization. Such forces have gained steam over the years because of the criticism surrounding world trade.
National Sovereignty:
It has been argued over the years that because of international agreements and treaties companies are not losing their national sovereignty because they are not able to do what is best for them rather they have to do what is best for trade. For example there were demonstrations recently against the U.S government in Illinois by its steel industry workers because U.S had imported cheaper Indian pipe.
Another problem is that because of the numerous products/services you can buy these days because of globalization, the consumption has risen and hence the saving for the future has declined. This has made countries more vulnerable to risk in the future and, lesser long term investments also mean an insecure future outlook.
This would also increase reliance of smaller countries on bigger ones. This is not a good thing as they might influence the smaller countries in non-economic matter due to the hold on the economy of the country.
The basic principle of international trading is that countries benefit because each country ha...


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...ual property rights are not protected internationally, the businesses of such companies suffer a lot. For this reason the countries should have bilateral agreements as well as agreements sponsored by WTO that would allow extradition of criminals. This would allow lesser crimes against intellectual property and better enforcement.
Debt Crisis:
A problem with international trade is that if one country gets affected by the economic conditions other countries also have to suffer. So to hedge against such things, credit transactions should be limited. Also non-fiat currency should be used which would decrease risk. The companies also have to diversify their international trade so as to decrease impact if one country suffers economic issues.


Bibliography
John J. Wild, K. L. (2010). International Business: The Challenges of Globalization, 5/E . Prentice Hall.




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