Shanghai Free Trade Zone(SFTZ) officially known as the China (Shanghai) Pilot Free-Trade Zone was officially launched on September 29‚2013. With the backing of Chinese Premier Li Ke Qiang‚ Mainland China formed its first ever free trade zone. Personally‚ I feel that the establishment of the SFTZ is a stepping stone for China to boost their economy as well as creating more innovative and realistic systems to maintain its country’s competitiveness. SFTZ is a necessity for China to boost global cooperation
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United States of America (US) have been officially negotiating the Transatlantic Trade and Investment Partnership (TTIP) since July 2013. It proposes the establishment of a common free trade area with the objective of facilitate business across the Atlantic through the elimination of tariffs and the harmonization of regulatory standards. This agreement would be unprecedented in terms of dimension‚ with the creation a free trade area representing nearly half of the global economic output with only 11.8
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International trade friction in the new situation and the situation was still rubbing Suggestions increased [Abstract] With the growth of international trade‚ trade friction between countries than in the past increased significantly and has shown new features and new situation. In the face of the increasingly frequent and complex trade friction‚ this paper presents 15 new countermeasures for industry colleagues to explore. [Key words] of the international situation and new trade friction response
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established in the wake of World War II including the General Agreement on Tariffs and Trade (GATT)‚ succeeded in 1995 by the World Trade Organization (WTO)‚ International Monetary Fund (IMF)‚ World Bank have played an important role in promoting free trade in place of protectionism. The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement regulating international trade. According to its preamble‚ its purpose was the substantial reduction of tariffs and other trade barriers and the
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U.S.-European Union Trade Relations: Issues and Policy Challenges SUMMARY The United States and European Union (EU) share a huge and mutually beneficial economic partnership. Not only is the U.S.-EU trade and investment relationship the largest in the world‚ it is arguably the most important. Agreement between the two economic superpowers has been critical to making the world trading system more open and efficient. Given a huge level of commercial interactions‚ trade tensions and disputes
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reflection on whether we have a borderless world‚ and to the extent w do‚ is it a blessing or otherwise?” Each year‚ the world’s market is growing. The 7 billion human living on Earth is a huge market that every companies in the World want to acquire. . This particular reason makes us tend to a borderless World. But there are still some factors that slow this process‚ like religions‚ cultures‚ laws and so on. In order to increase international trades‚ governments and organizations try to put
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5 CONTEMPORARY WORLD PROBLEMS Global Financial Crisis The global financial crisis‚ brewing for a while‚ really started to show its effects in the middle of 2007 and into 2008. Around the world stock markets have fallen‚ large financial institutions have collapsed or been bought out‚ and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems. Treatment of Women in Afghanistan Women in Afghanistan are treated unfairly due
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mercantilism and globalization began to weave a web of trade and exchange of culture‚ values‚ traditions‚ goods‚ beliefs‚ religion‚ and ideas that changed this world forever. With colonial Europe expanding they needed trade to support their economy. This globalization and mercantilism is illustrated by Timothy Brooks in his book‚ Vermeer’s Hat. In this novel Johannes Vermeer uses paintings as a window to show the reader an in depth view of trade and globalization in the seventeenth century. Each painting
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1. Introduction This case study analysis is based on the case “ACH Challenge 1 – Entering International Trade”. American Colonial Heritage Inc. (hereinafter named “ACH”) is a US American producer of furniture that presently only sells its products in the USA and Canadian markets and does marginal exports to the UK. However‚ these exports have not proved to be successful so far. The company is fictional and the strategic decision to be taken during the case study analysis is dated back in 2006. Thus
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The World Trade Organization (WTO) was established in 1995 after the Uruguayan Round. It embodies the international organization which deals with a wider range of aspects related to the international trade. The WTO controls the international trading system. It represents an evolved instrument of negotiation in comparison with the preceding General Agreements on Trade on Tariff and Trade (GATT). Hoekman‚ B.M. & Kostecki‚ M. M. (2009) WTO includes many important improvements on economic issues‚ disciplines
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