Porter's Diamond Case Study

Importing and exporting, goods and services forms the basic foundation of international trade. Each domestic market has its own agenda in regards to wants and needs which ultimately leads to conflict regarding interests and how to proceed when conducting business. Costs may arise when competing nations implement their own polices to try and gain an edge in the market, this can be risky if no action is taken by domestic industries. Government intervention is thus critical when considering how the environment can be managed to ensure domestic markets are still reaping benefits whilst fighting off potential risk. Governments should act in a way that boosts the effectiveness of international trade instead of threatening to corrupt how the global

Boosting revenue coming into the country is a huge benefit of international trade but is not the only perk that should be focused on. Broadening the range of products and services in the market as well as a transfer of knowledge leading to a rang of developments are two more examples (Schumacher, 2015.) While other studies have found that the alliance formulated between countries, as well as job creation are more examples of why part taking in international trade is preferable for any government when done through protective measures (Hyun Chong,