This World Trade Organization Press Release demonstrates the impact of a declining world economy on global trade.
Discuss the pros and cons of imposing quotas on some imported goods. How would this affect the American economy?
What is the effect of a country devaluing its currency (like China, for example)?© BrainMass Inc. brainmass.com October 25, 2018, 5:31 am ad1c9bdddf
Some pros of imposing quotas on some imported goods include: political benefits for the government and more jobs in this country. When a company is on the way of growing strong to compete with foreign firms quotas help safeguard it from stiff competition. As a result this creates more job opportunities for local workers. Quotas also play an essential role in trade because they curtail the number of goods that are imported in a country creating shortages that can cause price fluctuations. They can protect local companies from foreign takeover. Through quotas the prices of imported goods become inexpensive so that people opt to buy local goods. This way the government ...
WTO press release impact of the declining world economy is examined.
Global Business Strategies/Globalization
Two factors seem to underlie the trend toward globalization: declining trade barriers and changes in communication, information, and transportation technologies. Tell me, do you think this global trend is an overall good thing or does it hurt us in the long run; for example, outsourcing and jobs loss/gain, or foreign entities purchasing domestic companies.View Full Posting Details