Following the establishment of the World Trade Organisation in January 1995, American and European trade relationships were for a time characterised by ‘competitive interdependence’, as the US and EU simultaneously aimed to advance their commercial interests in third countries. Under conditions of competitive interdependence, trade actors resort to certain policy choices to gain advantage for their producers while restricting others’ ability to enter a market (Sbragia, 2010). In the last decade, however, European and American trade policymakers have faced the challenges of a more competitive world and the emergence of newer trade powers such as China. Both actors have veered away from multilateral deals as their preferred trade policy choices. In this paper, we use the Sbragia (2010) framework to analyse the trade policy shifts made by the EU and the US in the last decade. We argue that what had been a competitive interdependence relationship has recently changed to a trilateral structure in which both the EU and the US have focused their attention on countering Chinese competition. Moreover, China’s emergence has also pushed the US to reinvigorate the role of unilateralism and the EU to bolster bilateralism as they both seek to secure their commercial shares worldwide.>>>ClickHere>>>
Tag: academic theory
theories. academic frameworks. articles. blogs and signposts to other content.
International Trade Theory and Policy: A Review of the Literature*
This paper provides a survey of the literature on trade theory, from the classical example of comparative advantage to the New Trade theories currently used by many advanced countries to direct industrial policy and trade>>ClickHere>>>
International Trade
On the topic of international trade, the views of economists tend to differ from those of the general public>>>ClickHere>>>
International business: theory and practice
International business: theory and practice>>ClickHere>>>
Theory in international business
International business has existed as a distinct field of study for the past three decades, but it does not have a widely accepted explanatory theory on which to base its unique- ness as a discipline <<ClickHere>>>>
Functional Areas of Business
The activities needed to operate a business can be divided into a number of functional areas. Examples include: human resources, operations, marketing, accounting, finance and information technology. Let’s briefly explore each of these areas.
Human Resources
HR managers are responsible for ensuring that the organization has all of the skills and capabilities necessary to run the business. HR managers develop staffing plans, recruit and select new employees, monitor the performance management process, and develop succession plans for advancement and replacement. They develop standards for compensation and benefits and assist managers with staff issues.
Operations
All companies must convert resources (labour, materials, money, information, and so forth) into goods or services. Some companies, such as Apple, convert resources into tangible products—Macs, iPhones, etc. Others, such as hospitals, convert resources into intangible products — e.g., health care. The person who designs and oversees the transformation of resources into goods or services is called an operations manager. This individual is also responsible for ensuring that products are of high quality. In many organizations, operations management includes managing the supply chain which controls the delivery of raw materials and the distribution of finished goods.
Marketing
Marketing consists of everything that a company does to identify customers’ needs (i.e. market research) and design products to meet those needs. Marketers develop the benefits and features of products, including price and quality. They also decide on the best method of delivering products and the best means of promoting them to attract and keep customers. They manage relationships with customers and make them aware of the organization’s desire and ability to satisfy their needs.
Accounting
Managers need accurate, relevant and timely financial information, which is provided by accountants. Accountants measure, summarize, and communicate financial and managerial information and advise other managers on financial matters. There are two fields of accounting. Financial accountants prepare financial statements to help users, both inside and outside the organization, assess the financial strength of the company. Managerial accountants prepare information, such as reports on the cost of materials used in the production process, for internal use only.
Finance
Finance involves planning for, obtaining, and managing a company’s funds. Financial managers address such questions as the following: How much money does the company need? How and where will it get the necessary money? How and when will it pay the money back? What investments should be made in plant and equipment? How much should be spent on research and development? Good financial management is particularly important when a company is first formed because new business owners usually need to borrow money to get started.
Information Technology
Information is one of the critical assets of most businesses. Businesses such as Facebook are entirely information based businesses. Information technology (IT) managers are concerned with building computer and network infrastructure, implementing security protocols, and developing user interfaces and apps for customers. Usually, there is a high level of integration between the businesses website or application and other departments within the business, such as finance, marketing and operations. Often, businesses must develop interfaces to send and receive information from other companies, including suppliers, logistics and shipping suppliers.
The Globalization of Business
Do you wear Nike shoes or Timberland boots? Listen to Beyoncé, Pitbull, Twenty One Pilots, or The Neighborhood on Spotify? If you answered yes to either of these questions, you’re a global business customer.>>ClickHere>>>
Defining international trade
Trade is the concept of exchanging goods and services between two people or entities. International trade is then the concept of this exchange between people or entities in two different countries.>>ClickHere>>>
What Is International Business?
International business relates to any situation where the production or distribution of goods or services crosses country borders >>ClickHere>>>
War and international trade: Impact of trade disruption on international trade patterns and economic developmen
The disruptions of trade flows due to military conflicts leads to changes in economic structures of countries, to the subsequent changes in trade policies, and to the changes of established trade patterns with impact on position of countries in international trade system. This paper deals with three modern time’s conflicts: Napoleonic Wars, WWI and WWII. <ClickHere>