That is supposed to have become one market which does not entail any tariff distinctions between the nations. But it should be noted that some of the analysts feel that it will never become a single entity market, but will remain separated into different varying national markets. The reason is being ascribed to "cultural, informational, logistic barriers and perhaps remaining discriminatory barriers all of which imply an incurable tendency to award contracts to local suppliers." (Is Culture a Major Barrier to a Single European Market? The Case of Public Purchasing)
The general aim of free trade has however changed and it is now not limited any more to the removal of barriers in being able to sell the products made in one country to other countries of the world. This is considered to be even more important for that of the developing countries wherein their progress in development made however will not be accepted till they are able to sell their goods in the global markets. (The Role of the Diplomat in Times of Globalization)
Conclusion:
References
Madsen, Poul Thois. "Is Culture a Major Barrier to a Single European Market? The Case of Public Purchasing" Retrieved at http://www.ihis.aau.dk/~pmadsen/purchase.htm. Accessed 18 September, 2005
Market Access and Protocol Commitments" Retrieved at http://www.uschina.org/public/wto/ch-memo.html. Accessed 18 September, 2005
Non-tariff Barriers to Imports" Retrieved at http://www.wright.edu/~tran.dung/Chapter8_Pugel.htm. Accessed 18 September, 2005
Tariff" Wikipedia, the free encyclopedia. Retrieved at http://en.wikipedia.org/wiki/TariffAccessed 18 September, 2005
Tortora, Manuela. "The Role of the Diplomat in Times of Globalization" Retrieved at http://lanic.utexas.edu/~sela/AA2K/EN/cap/N59/rcapin59-10.htm. Accessed 18 September, 2005
International trade permits the companies that interact in the international commercial environment to explore other opportunities existent on the market, and the letter of credit gives advantages for every interested party. Economic growth is enhanced by increased commercial activity, due to some extent to the development of these payment instruments, like the letter of credit. The letter of credit is used by many commercial players in the world market, especially
Policies need be established that dictate how currency is used (Homaifar, 2003). Trends in international banking suggests that within Europe while the euro may still be the standard currency used, often throughout the world and in international banks generally, much of currency is denominated in the form of dollars (Bertuch-Samuels & Ramlogan, 2007; Homaifar, 2003). The United States dollar has represented the gold standard among international financial institutions because the
Global Financing and Exchange Rate Mechanisms Roles of International Financial Institutions: IMF, World Bank, and ADB All international financial institutions have their different goals, objectives, varying expertise, and areas of specialization. This study will focus on the role African Development Bank, World Bank and International Monetary Fund on global finance. The partnerships enhanced are geared towards poverty reduction and economic growth that can be maintained. This is according to the recent announcements
The globalization of poverty has indeed occurred during a period of rapid technological and scientific advance. While the latter has contributed to a vast increase in the potential capacity of the economic system to produce necessary goods and services, expanded levels of productivity have not translated into a corresponding reduction in levels of global poverty." (Chossudovsky, 1998) The ability of corporations to easily pick up and move into cheaper labor
IMF and World Bank in global financing and exchange rate fluctuations The International Monetary Fund plays a crucial role in the world's economy, especially in global financing and exchange rate fluctuations. However, its influence ranges well beyond those disciplines. The main responsibility of the International Monetary Fund is to provide loans to nations experiencing balance of payments difficulties. The International Monetary Fund's involvement allows these countries to stabilize their currencies, rebuild
International Economics Research In the contemporary, there is continued deliberation regarding the future of the International Monetary System. Subsequent to the international economic and financial crisis, compounded with the rise of China as the second biggest economy and circulation of the Euro, there has been deliberation of other currencies joining the U.S. Dollar as the reserve currency of the IMF. This report is an attempt to examine the prevailing position of
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now