Why is it important to regulate imports?
What are non-Tariff barriers to trade.
How do these non-Tariff barriers affect management decisions.
What is GATT?
What is the primary function of the World Trade Organization (WTO)
How do parties settle trade disputes through GATT and the WTO.
Explain the liability of international carriers for
Please provide references.© BrainMass Inc. brainmass.com October 25, 2018, 5:36 am ad1c9bdddf
Trade and trade barriers are issues that are inherent in any policies adopted by various nations. It is inarguable to state that a central tenet in trade economics is the significance of international trade as a means for higher living standards in various nations. This paper seeks evaluate GATT law and WTO, and their role in free international trade and protectionism.
Why it is important to regulate imports:
It is important to regulate imports within a country in order to protect the infant domestic industries in the country. Big international importers in most cases have a better competitive advantage as compared to the local industry and unregulated inflow of products in huge quantities can lead to the demise of the young domestic industries due to competition pressure. Another importance of regulating imports is so as prevent predatory pricing behaviors in the domestic market through activities such as dumping of products in the local market. This helps prevents the importation of materials that may be unsafe for the domestic country consumers. Another importance of regulating imports is so as to protect employment in certain industries that may be threatened with unregulated importation of some products (Elwell, 2006).
Regulating imports also helps in maintaining the social and moral values of a country by regulating the kind of materials that enter a country such as tobacco, alcohol, narcotic drugs or inappropriate entertainment materials that may be viewed as socially degrading and which may adversely affect the culture of a country. Unlike the scholars who argue that regulating imports hurts the domestic consumer by reducing their economic welfare through charging of high prices, it can be noted that this argument though right in the short term may be wrong in the long term where unregulated imports results to importation of unsafe products into the country which may make them worse off economically and health wise. It is though worthy to note that ...
The expert determines the importance to regulate imports for thesis statements.
FDA testing of imported products; discussion about cost of veal
As we discover that our own self-interest is highly important in making sound decisions in environmental issues, it's true that if we did not have EPA or FDA, we would be in big trouble: Not only for the humanity of animals but for humans as well. I was reading an article about how the FDA halted the import of 28 drugs from a big name generic company based out of India last year. Although the drugs did not pose any harm presently, the FDA had to reinsure this by testing. If the FDA did not make these decisions many big pharmaceutical companies would be passing anything along to make money, regardless of the effect it will pose on the human body. In regards to the veal example from chapter 5 of our readings, I can personally say that it's sad but true about the calves being snatched young because of the texture of the meat. Veal is very expensive to say the least. A friend's house flooded in upstate NY and he will receive a substantial amount of money from the insurance company because he had veal in his freezer. My friend commented "that he receive more money for the veal than other big ticket items in the house". Explain.View Full Posting Details