The plastics industry produces products such as plastic furniture, radio and TV parts, automobile and machinery parts, medical and surgical instrument, PVC pipes, syringes, batteries and containers for the oil industry etc. The industry meets plastic raw material demand for other local industries by producing Polyethylene (PE), Polyvinyl chloride (PVC), Polystyrene (PS), Polypropylene (PP). Pakistan imports these raw materials from the world and China as well. Finished products such as tubes and pipes, kitchen ware, shutters and blinds, stoppers, office supplies, bags and sacks are also imported in large proportions from China. The local industry continues to complain about the infiltration of cheap Chinese products into its market.
Under China-ASEAN FTA tariff elimination covers 90% of the goods traded between China and ASEAN countries. According to this FTA, average tariff rate of China for ASEAN goods would be 0.1% instead of 9.5%. Besides, if we compare China’s FTAs with Pakistan and ASEAN we will find ASEAN at great advantage as there is zero percent duty under China-ASEAN FTA on items which are covered under China-Pakistan FTA where there is some duty. The rate of tariff of plastic products for Pakistan is 5.5% to 6.7% but the same is zero for ASEAN countries. ASEAN has a clear advantage rendering Pakistani products less competitive [18]. This may be the reason why in spite of a gradual rising trend in export, the overall trade volume is very low.
Fig. 6. Export of plastic articles to China (US $ Millions) [15].
The import licensing regime and registration requirements in China are complex and sometimes act as non-tariff barriers to the bilateral trade between Pakistan and China. In order to get license the applicant...
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...high tariff concessions to world as well as China, it is deduced that the government is hesitant to support this industry and importing from China is considered more economical. Protecting this industry hence becomes dependent on the government's decision to reallocate gas supplies and subsidize the local fertilizer industry.
Fig. 11. Import of fertilizers from China [15].
I. Organic Chemicals
Fig. 12. Import of organic chemicals from China [15].
The sport goods industry is export based and produces gloves, sportswear (t- shirts, track suits, jogging suits and uniforms) and soccer balls. Exports have seen a downturn since 2006. Exports of sportswear, gloves of textiles and gloves of rubber have either gone down or experienced no growth. However, imports from China do not appear to have affected local production since imports are of negligible volume.
...y or other heavy equipments. There was a significant decline in exports in these states which was followed by the collapse of their currency and this made it difficult for these states to obtain credit (Engerman 208).Significant reduction in agricultural production across the state resulted in scarcity of agricultural commodities which in turn increased the prices of agricultural products as well as export surpluses.
In the 21st century, the European Union has realized the importance of changes and advancements in their trade policies, where they need to become more advance and faster in economic policies to compete with rest of the world and stay ahead of them, due to which, they have introduced Free Trade Agreements (FTA’s) especially with emerging markets such as Asia to promote more bilateral trade and business. The stages in regional trade agreement are as follows:
Profile of Exports, Imports and Trade Partners. Creative Commons Attribution-ShareAlike 3.0 Unported License, n.d. Web. 13 May 2014.
Analysis of sports clothing industry, including its main features, key market drivers and competition within industry.
From the 1970s, there has been a wave of liberalization in China, which was introduced by Deng Xiaoping. This is one of the key reasons to the rise of China to be one of the economic giants in the world. In the last 25 years of the century, the Chinese economy has had massive economic growth, which has been 9.5 percent on a yearly basis. This has been of great significance of the country since it quadrupled the gross domestic product (GDP) of the country thus leading to saving of 400 million of their citizens from the threats of poverty. In the late 1970s, China was ranked twentieth in terms of trade volumes in the whole world as well as being predicted to be the world’s top nation concerning trading activities (Kaplan, 53). This further predicted the country to record the highest GDP growth in the whole world.
The ever-growing competition among sportspersons makes field vibrant with new trends always emerging. Specifically, product liability has been on the rise because of the increasing manufacturers of sports products and the growing demand for the same products. For this reason, the quality of the product during and after manufacture may be compromised owing to various factors. In this respect, an array of scholarly work has been conducted with the aim of expounding on this
After China joins the WTO, the market of all WTO members also lend a helping hand to China. China is a relatively new county compared to other industrialized countries. It’s only been 64 years since the founding of the PRC (People’s Republic of China). From their helping, Jobs, investment, new demand, new infrastructure are all on the move in a positive direction. The commodity of Chinas' entering an international market would be more liable, being advantageous to the Chinese labor force’s wages (Shafaeddin 2002). On the other hand, the open market is beneficial to some resources that China creates. China, although having a "vast territory and rich resources", because of its dense population the use of renewable resources are seriously lacking. In the ending of the economy, we must increase the yield from our natural and renewable resources in order to sustain our huge population with petroleum and food (Shafaeddin 2002). Actually, Chinese natural resources are not being proper usage due to lack of professional technology to proceed extractions. Compare those, state which like Chinese province owned the forest resources and abundant la...
The political force moved away from the painstakingly and time-consuming technique of multilateral tariff negotiations to smaller regional and bilateral provisions - the Regional Trade Agreement. In these arrangements; members accord preferential treatment , basically agreeing to liberalize the exchange of goods and services amongst each another giving regard to certain trade barriers. RTA is not the first-hand way of trade liberalization though. Initially, when multilateral trade discussions used to happen, two-sided and multiparty FTA”s filled the vacuum. There were restrictions from stringent and premeditated trade arrangements earlier, thus a lot of states are now moving towards freer trade for their own benefits.
Firstly, what should be noted here is that international trade has been providing different benefits for firms as they may expand in different new markets and raise productivity by adopting different approaches. Given that nowadays marketplace is more dynamic and characterized by an interdependent economy, the volume of international trade has grown substantially in recent years, reducing the barriers to international trade. However, after experiencing the economic crisis that took its toll in 2008 many countries adopted a different approach in terms of trade barriers by introducing higher tariffs in order to protect domestic firms from foreign competition (Hill). Secondly, in order to better understand the implications of the political arguments for trade it is essential to highlight the main instruments of trade policy (See appendix 1).
This report will focus primarily on the internal and external macroeconomic analysis coined with a critical analysis of Sports Directs business and corporate level strategy before recommendations are made. This will highlight how the organisation can sustain their competitive position in todays increasingly globalised, hypercometitive market (Hanssen-Bauer & Snow , 1996).
Everyone has heard a cashier one time or another mumble, “Paper or plastic?” as he put their groceries in a bag, but do shoppers know the effects of each vessel in which they carry their comestibles? There are many issues and benefits to both paper and plastic. The making and recycling of both paper and plastic bags can harm the environment. One must also look at the costs of making each bag. The convenience of each is also something to look at. Many people jump to conclusion that paper bags are better for the environment without knowing the facts. Since plastic bags are preferred by customers and plastic bags actually do not hurt the environment as much as paper ones do, consumers should feel at ease when choosing plastic.
Textile production and consumption is an increasingly global affair as production continues to shift to developing countries. Developing countries have seen an explosion in the growth of their textile exports, and for many countries textiles are a significant portion of their total exports. In response to increasing competition from low-value imports from developing countries, industry leaders in developed countries have made significant capital investments in order to increase productivity and move into advanced market sectors.
Nowadays, there are so many famous sportswear companies that exist in the market globally, which make people have more product varieties that they can choose. In addition, most of those companies have become very important for its host countries, in terms of supporting their economic development. Yet, the existence of those companies can also possibly bring some problems to the host countries, as well as negatively affect the countries’ people (Pettinger, 2008). In order to explain it better, the existence of Adidas in Indonesia is used in this report to give more information about what makes Adidas becomes a successful company in the world, as well as providing problems that Adidas has in Indonesia.
China’s economical strength comes from its international trades as the economy has grown to a rate of 10.3% in 2010. It has become the world’s largest exporter in the global economy. In the area of trade, three major strengths of China are 1) it is the single most important challenge for the European Union (EU) trade policy, 2) China is the second trade partner behind the U.S., and 3) it is the EU’s biggest source of imports by far with the dramatic increase in the EU-China trades over the recent years. The EU exports of goods to China were 113.1 billion Euros and in imports was 281.9 billion Euros in 2010. The service exports were 18 billion Euros and in imports were 13 billion Euros in 2009. China has also established trades with Australia. Recently, the two countries have been cooperating and assisting each other in industries such as agriculture, energy and minerals as they continue their free trade agreements (Jia Qinglin).
Pakistan ranks 41 in the world in factory output. Cotton textile production and apparel manufacturing are Pakistan's largest industries, accounting for about 66% of the merchandise exports and almost 40% of the employed labor force. Cotton-based products account for around 61% of export earnings of Pakistan. Other major industries include fertilizer, cement, edible oil, sugar, steel, tobacco, chemicals, machinery and food processing. In 1947 at the time of partition Pakistan had a negligible industry. Pakistan got only 35 industries out of the 955 industries while the remaining where held by india. Such a small number of industries were not enough for a recently conceived nation to face the industrialized world. With the progression of time Pakistan used its all accessible assets domestic and outer for fast improvement of manufacturing sector. Pakistan has now maintained...