Sunday, May 5, 2019

THE GLOBAL ECONOMY Essay Example | Topics and Well Written Essays - 2500 words

THE GLOBAL ECONOMY - Essay Examplebserved that cutting edge improvements in the stadium of information technology (IT) start out made most of the business processes easier as well as economical, asunder from pushing geographical boundaries into near obsolescence. These improvements have made it less costly for consumers to determine the characteristics of products produced abroad (Krol, 2008, P.3), and have also provided the producers/manufacturers with the ease to gauge consumer preferences. As a result the manufacturers be in a break away position to customize their products and/or services with an aim to tap the foreign markets. Hence it can easy be comprehended that the modern business scenario that prevails in the global arena is highly competitive and the players are keen on utilizing every possible avenue to maximize their gains. It may be ascertained that income evolution in developed countries and even in some less-developed countries has increased the demand for good s and services produced domestically as well as from abroad (Krol, 2008, P.4), which implies that the volumes of international backing and hence its inherent perils have been rising incrementally, thereby calling for efficient trade protection policies. Another important reason for the implementation of such policies is that trade restrictions have decreased significantly since ball War II (Krol, 2008, P.4). In the context of global economies it has been observed that the developed nations can afford to subsidise, the developing nations prefer barriers to protect their trading activities.Data from the World savings bank reveal that a large number of trade restrictions have been brought into effect as several countries, including 17 of the G-20, have implemented 47 measures whose effect is to restrict trade at the expense of other countries (Gamberoni & Newfarmer, 2009, P.1). in spite of appearance the eventful cauldron of international trade one of the phenomena that raise conc ern is that of dumping which, according to the World

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