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Essay / Research Paper Abstract
This 8 page paper looks at different aspects of international trade. The paper considers the drive towards internationalisation and the rise of the global enterprise, obstacles to international trade such as political and cultural constraints, the role of strategy when entering international markets, the influencing of foreign government and the importance of international cash flows. The bibliography cites 9 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TElessitd.rtf
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Unformatted sample text from the term paper:
and applies them to real life cases. There is an increasing drive towards internationalisation. There are many examples that indicate this practice, such ass McDonalds, Coca Cola, IBM, and
ICI are just some examples of global companies. The reasons behind this are manifold. A strong reason is that of international trade theory. By looking at why international trade is
attractive we need to consider what the advantages are and why. The aspect of international trade occurring due to the demand by
consumers wanting to be able to purchase the goods or services that are available from other countries can be seen as the reason behind international trade. Some of the good
may be available in the home country, but the alternative source may be able to produce the goods more cheaply, be a higher quality, or may be unique to that
country (Daniels, 2003). Trade theory is concerned with why nations undertake international trade and the benefits it may bring to the trading partners.
If we look to the theorist Adam Smith we see that he stipulates that each nations should concentrate on producing goods where they have the absolute advantage (Thompson, 1998). This
means that they should produces the goods that they can produce in a more effective manner than any other nation. Conversely in international trade they should also import any commodity
where they have the absolute disadvantage, that is where they can only produce the commodity at a high cost than any other nation. It appears logical that a country who
has an advantage in a particular product should aim at producing that product or commodity whist it buys in other goods. However, in the real world this does not happen
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