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    Globalization has significantly impacted international trade in three key ways: 1. It has led to the liberalization of international trade and increased competition in global markets through the expansion of foreign direct investment and an expanding range of goods and services traded across borders. 2. Technological advances like integrated management of trade information flows and single window systems for trade documentation have resulted in more efficient trade with faster information flows and lower costs. 3. However, government controls like tariffs, import licensing, and exchange controls still impact trade flows. Balancing open trade with concerns like development, poverty eradication, human rights, and the environment remains an ongoing challenge.

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    Globalization has significantly impacted international trade in three key ways: 1. It has led to the liberalization of international trade and increased competition in global markets through the expansion of foreign direct investment and an expanding range of goods and services traded across borders. 2. Technological advances like integrated management of trade information flows and single window systems for trade documentation have resulted in more efficient trade with faster information flows and lower costs. 3. However, government controls like tariffs, import licensing, and exchange controls still impact trade flows. Balancing open trade with concerns like development, poverty eradication, human rights, and the environment remains an ongoing challenge.

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    34 views13 pages

    Globalization and International Trade

    Uploaded by

    arkaprava ghosh
    Globalization has significantly impacted international trade in three key ways: 1. It has led to the liberalization of international trade and increased competition in global markets through the expansion of foreign direct investment and an expanding range of goods and services traded across borders. 2. Technological advances like integrated management of trade information flows and single window systems for trade documentation have resulted in more efficient trade with faster information flows and lower costs. 3. However, government controls like tariffs, import licensing, and exchange controls still impact trade flows. Balancing open trade with concerns like development, poverty eradication, human rights, and the environment remains an ongoing challenge.

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    of 13

    GLOBALIZATION: IMPACT ON

    INTERNATIONAL TRADE

    BY-
    TILOTTAMA ROY
    PEOPLE
    INDUSTRY
    RESOURCES

    OIL IRON

    RUBBER

    DIAMONDS
    TIN

    MANGANESE
    RISE OF
    UNEVEN INTERDEPENDENCE RISE TO CONCEPT EMERGENCE OF
    DISTRIBUTION OF ONE NATION OF GLOBALIZATION FOREIGN TRADE
    OVER ANOTHER
    LIBERALIZATION
    OF
    INTERNATIONAL
    TRADE

    INCREASED
    EXPANDING
    EXPANSION OF COMPETITION RANGE OF
    FDI GOODS AND
    IN GLOBAL SERVICES
    MARKETS

    CROSS BORDER
    TECHNOLOGICAL
    FLOWS
    Integrated Management of International
    Trade Information Flows Reduced
    cost
    Faster flow of
    information
    Advance filing
    Harmonized of trade information
    (electronic)
    Single
    trade +
    Window Advance exchange
    documents,
    e.g.eDocs of information
    across borders
    Results:
    • more efficient trade: less bureaucracy (the goal of trade facilitation) ->
    lower cost
    • more security through better supply chain management inside and
    among countries –> better risk analysis
    • integration with Europe [e.g. EU’s Single Administrative Document
    (SAD) based on the UN Layout Key in use in SEE, TRACECA]
    Single Window concept of trade

    3-a: 'Single Authority'

    Trader Authority 1
    (incl. Transport)
    Faster flow of
    information

    Single Authority 2
    Electronic
    Authority

    Authority 3

    Paper
    Speedy delivery ,
    saving on time , saving
    on money
    Authority 4
    • Approval of foreign currency to be paid for importing EXCHANGE
    CONTROL
    • Foreign currency earned by locals to be sold to the
    government
    • Governmnent charges extra duty onimported goods TARIFF
    • To protect local competition and provide revenue to the
    government
    • Only goods absolutely essential to the country are IMPORT
    LICENSING
    allowed to be imported
    • Goods without license cannot be imported
    GOVERNMENT BARRIERS
    VIEW OF IMPACTS ON TRADE:
    GOVT.
    CONTROLS???
    HOW TO ACHIEVE
    IMPACT ON TRADE WHO MAINTAINS
    THE BALANCE ?
    SEAMLESS WHO DECIDES
    TRADE ? WHAT AMOUNT OF
    TARIFFS TO BE
    Promote economic liberalization in APPLIED?
    the developing world (things such as
    trade and capital markets) National Treatment
    Once a product or seller has
    entered a country, it should be
    treated the same as products or
    sellers that originated inside
    that country

    lift restrictions on capital


    movement

    MFN = Most Favored Nation


    Each member country
    should treat all members as
    well as it treats its “most
    favored nation”
    PROMOTION OF
    IMPACT ON TRADE: LAW
    SUSTAINABLE
    DEVELOPMENT
    ENFORCEMENT
    • States have to revise their domestic laws in
    conformity with the guiding principles and
    regulations of the above institutions
    • enhance social infrastructures
    • limitations on free trade would be minimized
    and this in turn may lead to the flow of foreign
    direct investment
    ERADICATION OF
    POVERTY
    laws of international business transactions have
    to be in a position to respect and promote
    principles and guide lines provided to regulate
    other global concerns

    HUMAN
    RIGHTS ENVIRONMENT

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