International Trade
Sans capitalistic greed, corruption, and convenience (as in the adage, “convenience breeds apathy”), the globalization of business and trade provides many benefits. Economist Arnold Kling, suggests that, “…International trade raises the standard of living” (2008, para. 26). This makes sense. Despite a great disparity in equal wages, trade increases the flow of capital and can reduce the cost of goods. Nation states shut out from international trade have higher poverty and lower education levels. North Korea is an example, whose estimated 2013 GDP was a meager US$40B, and unemployment rates were over twenty-five percent (CIA, 2013; Kling, 2008).
Both the European Commission and the World Trade Organization (WTO), make the
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I see this in my business, bridging dialogs between international business people, where a simultaneous interpreter’s colloquial accent can offend one side’s cultural sensitivity. People who have never traveled out of their home country may not be as aware of such subtle undertones.
For example, I’m originally from New York City, where people have the habit of talking fast and quickly getting to the point. While I might be impatient in a business meeting, listening to someone from another part of the United States, who may speak slower and with a different accent, I’m not apt to be culturally offended. This is not the case internationally, where I once saw firsthand, a group from Azerbaijan, fire interpreters who spoke with Iranian accents.
Drilling down on other prerequisites for a career in international business, led me to Columbia University’s School of International and Public Affairs (SIPA), who advise, “Knowledge of a foreign language, area studies, and international experience are important credentials” (2014., para. 9). SIPA suggests that the growth of global business education now provides more college graduates in local markets, which has narrowed overseas opportunities to senior management positions with MBA credentials
In this chapter of Naked Economics, by Charles Wheelan, he describes many aspects of trade. It begins by showing the capabilities of trade and how it affects everyone as a whole. It makes it so that everyone is better off than normal. To put it into perspective, he put the image in your head of how hard your life would be without trade, you would have to make your own clothes, find a way to get/make your own food, make your own car, etc... After showing some of the advantages to trade, he applies it to a global persona and begins to introduce his opinion on how global trade (globalization) makes us richer. One of the key explanations of this point is that trade frees up time in our busy schedule, therefore allowing us to use that freed up
As Ian Fletcher pointed out in Free Trade Doesn’t Work: What Should Replace it And Why, nations need a well-chosen balance between openness and closure toward the larger world economy (Fletc...
The video “American Tongues” is about variety of English dialect in America, and people still carry prejudice and stereotypes in people’s accents and dialects. These accent and dialects are not limited in pronunciation. There are different words, phrases and grammars in their dialects, therefore, some people are noticed where they are from. As a premise, everyone has an accent. However, some people believe they don’t have an accent because people around them have the exact same accent and dialect in their community. Therefore, they haven’t noticed differences. In the video, there was a scene of a woman was correcting her accent for work to speak “standard dialect”. It was required for her to speak “standard dialect” for work because when she was out of her original community where
The case I was talking about is when founders have accents so strong that people can't understand what they're saying. I.e. the problem is not the cultural signal accents send, but the practical difficulty of getting a startup off the ground when people can't understand you.
“You have such an interesting accent; where are you from?” That is the question I have heard over and over again since I moved from Puerto Rico to Houston, Texas. While aspiring to a more challenging educational environment from the one exposed to, I made the decision of moving with my aunt and uncle to the United States. Consequently, I sacrificed the time spent with my family and discerned the obstacles that were prone to surface for an individual whose native language is not English.
These results change or modify political organizations to be suitable for the needs of global capital. Regions and nations are encouraged to import and export of goods from other parts of the world rather than supplying or manufacturing them in their own homeland. Thus, seeking expensive manufactured supplies or goods from third world countries to import them to the first world corporation’s injunction with the free trade zones of globalization (Ravelli and Webber, 2015). These negotiations raises new organizations, for example, the World Trade Organization (WTO) to aid and supervise both countries to for a legalized trade. However, Neoliberalism amplifies the negative aspects of globalization’s effect on the economy. For example, deregulation, decrease of government benefits, and tax modifications (Bunjun, 2014). Nevertheless, relating these negative aspects to the documentary Made in L.A. (Carracedo, 2007) which is the main issue of increased risk of employment for both the first world and third world countries. In regards to, a switch from full time stable and secure jobs to part time unstable and insecure jobs. This reduces career growth for many employees, which they recognize, and thus switch jobs – where as they may not fit as well (Bunjun, 2014). As a result, globalization causes market inefficiency via labor market segregation and exploitation, unemployment and underemployment, unequal access to employment (Bunjun,
Shangquan, Gao. “Economic Globalization: Trends, Risks, and Risk Prevention.” Development. United Nations, 2001. Web. 10 Dec. 2013. .
...liberalisations have had adverse consequences for some – including the poorest people – but should we automatically condemn trade initiatives because it means that one person loses or is pushed into poverty? The identification of hardship arising from a generally desirable policy reform should stimulate the search for complementary policies to minimise the adverse consequences and reduce the hurt that they unintentionally cause (Winters, 2002). ‘No country has successfully developed its economy by turning its back on international trade and long-term foreign investment’; although trade alone may not offer a solution for poverty reduction, the OECD and DFID have recently published reports identifying that combining aid and trade initiatives and encouraging the integration of trade and aid could progressively and sustainably alleviate poverty (OEDC, 2009; DFID, 2005).
In the past few decades, the world has experienced heightened globalisation. During this period, organisations have prioritised setting up leaders capable of dealing with the ever-increasing involvedness of running their global operations. Overseeing global talent along with career paths is consequently a decisive challenge in lots of multinational organisations. Individuals as well as organisations perceive International assignments as a constructive way of developing global occupational competencies (Brewster & Suutari, 2005).
Globalization, love it or hate it, but you can’t escape it. Globalization may be regarded as beneficial from an economic and business point of view, but however cannot be perceived the ditto when examined from the social sciences and humanities side of it. Globalization can be argued as a tool for economic growth, advancement and prosperity through co-operation between the developed and developing countries. The pro-globalization critics argue that the benefits that globalization brings to developing nations surpasses or outcasts the negative impacts caused by globalization and may even go a step further to state that it is the only source of hope for developing nations to prosper and stand out. However, the real question to be asked is as to what extent are the positives argued upon without taking into account the negative aspects of globalization towards developing countries. Moreover, how many developing countries out of many are exactly benefiting or even prospering from globalization is another question to consider. Therefore, my paper will dispute that indeed growth and advancement provided by globalization to developing countries is beneficial in short-term, but in the long-run, it will only bring upon negative impacts and challenges due to the obstacles involved such as exploitation of labour and resources, higher increase in poverty, and effects of multi-national corporations on local businesses and the economy, and to an extent the effects on the developing country itself.
Studying abroad can be one of the most rewarding experiences in a college’s students career. For many colleges, having their students can mean an increase in tuition, higher application rates, and overall better reviews by their students. According to the Indianapolis Business Journal, by Scott Olsen, “The Wall Street Journal reported last month that several small colleges are requiring students to pay full tuition even if the programs cost less, setting caps on the amount of financial aid sent abroad, and limiting how many students can participate”(5). Also, Olsen tells us “In the 2003-2004 school year, 7,208 students from Indiana universities went on study-abroad programs, according to the most recent statistics available from the Institute
I was very fond of business administration and I gained a lot of management skills and knowledge on how to manage and develop business as well my personal life. I am very focused on business management specifically on an international aspect because I am interested to know in depth how business works locally and internationally. I learnt many aspects on client-manager interaction and this fascinated me on how businesses are managed and developed from one level to the other. It has been my wish to be a triumphant professional manager and I am looking forward to becoming a senior manager in an international pharmaceutical or medical device firm.
15. Hill, Charles W.L. International Business: Competing in the Global Marketplace. New York : McGraw-Hill, 2007.
The language barrier, which is also a difficult hurdle to encompass, serves as one of the most obvious cultural differences. A manager can delegate a task to be accomplished within a US based division and reap the expected results immediately. On the other hand, if an international manager is not familiar with the English language or culture, the same task may yield a different result. Language is the transmitter of both information and ideas. "The key to global competency is to develop the skills to cope, and that means integrating into the dominant culture and realizing how to properly interpret and analyze behavior" (Hayes, 1996). Being bilingual increases the advantage that foreign business partners have in interacting together. It nullifies the need of a third party translator. Business partners tend to be more open and receiving when communicating with bilingual personnel who speak there native language. "An understanding of the language allows the manager to pick up particular points of view, implied meanings, and other information that is not literal" (Moreno, 2006).
During the twentieth century, the world began to develop the idea of economic trade. Beginning in the 1960’s, the four Asian Tigers, Hong Kong, Singapore, South Korea and Taiwan, demonstrated that a global economy, which was fueled by an import and export system with other countries, allowed the economy of the home country itself to flourish. Th...