Question

1. Describe each of the factors contributing to global trade

2. How has technology enhanced globalization?

3. What does C - TPAT stand for? Brief ly explain its purpose.

4. Discuss some of the important aspects of ports with regards to global transport. What would be the main concern regarding the role of ports?

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Answer 1

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1. Describe each of the factors contributing to global trade

International trade enables countries to broaden their markets for goods and services which may not otherwise have been domestically available. The economy is more dynamic because of international trade and therefore more competitive prices, which brought the customer home a cheaper product. You will feel the impacts of international trade as you stroll into a store to encounter South American strawberries, Mexican coffee and a bottle of South African champagne. International trade gives rise to a global economy that both influences and impacts supply and demand and hence markets across world events. For example, political change in Asia could lead to higher labor costs to raise the production costs of an American sneaker company based in Malaysia that would then lead to a higher price at the local mall. A decrease in labor costs will, however, probably lead to you spending less for your new shoes.

Many different factors, including political, economic, and practical ones, can influence international trade growth. By its international trade policy, the organization has an effect on exchange rates, competition, increasing globalisation, tariffs and barium exports, transport costs, languages, cultures and various trade agreements. The development of international trade is highly influenced by politics and other government issues, such as the interaction between trading nations. A politically stable nation with few international trade-restricting policies will probably be able to rapidly expand global trade. Political instability, however, can be a major obstacle to trade expansion, especially as it leads to violence— for these reasons many nations place high tariffs on exports or imports from certain nations or industries. Although the tariffs can help to shield new economies or to put political pressure on certain countries, they often have a negative overall impact on world trade. The successful integration into the global economy by many developing countries and their rise as key players in international trade was one of the greatest stories of the last 20 years.

2. How has technology enhanced globalization?

Progress in technology is the key driver of income and living standards improvement. But not everywhere and at the same time do new knowledge and technology develop necessarily. The way technology travels through countries is therefore essential to creating and sharing global growth across countries. The increasing intensity of global awareness suggests significant advantages of globalization. While globalisation, due to possible adverse side effects, has been widely criticized, our study shows globalization has accelerated the transnational diffusion of technology. Next, globalization makes it possible for nations to gain external information more quickly. Furthermore, it increases international competition–also as a consequence of the emergence of emerging market businesses–and confirms the desire among corporations to innovate and implement new technology. The positive impact was particularly significant for emerging-market economies, which have expanded their technological capacities and productivity growth with the available international knowledge and technology.

Leaders of technology themselves profit from competition from each other. This indicates there is room for a positive impact from these emerging innovators on conventional innovators with the increasing commitments of China and Korea to the expansion of the development frontier. Globalization offers a big benefit–it expands knowledge and technology, helping to spread growth potential across continents. Information and development do not flow in only one way. Yet networking alone is not adequate. The most often scientific and engineering knowledge required for assimilating foreign knowledge and the ability to build on it.