By suggesting that increased amounts of free trade promote a conflict-free international market, McDonald makes a revolutionary argument that may bolster not only the international financial market, but also political and strategic alliances between states. Both unique and significant, McDonald's argument that increased amounts of free trade between states lead to decreased amounts of conflict has strong implications not only for the field of international finance, but also for a variety of other areas of social science scholarship. Backing up his argument with statistical data, McDonald makes a convincing case that free trade does, indeed, lead to lower instances of conflict between states. Similarly, the logical organization and flow of McDonald's argument -- as he posses that the removal of trade barriers not only decreases the confidence in the state but also improves the interconnectedness between states -- lends credence to his position. A rather important study, McDonald's research attempt deserves further study and...
Further research must be done to verify the direct correlation between free trade and peaceful relations. For instance, McDonald would have arrived at the same results if an indirect correlation existed -- if, perhaps, free trade led to an increased compatibility between foreign cultures or an increased amount of communications, which consequently resulted in a higher success rate for peaceful relations between the states studied. While it is the role of further scholarship to test and prod McDonald's study, however, his initial research is not only sound, but of extreme importance to the world of international finance, as well as macroeconomics and international relations.
For a brief time after the collapse of the Soviet Union, the United States again stood unchallenged. However, in a clear demonstration of the consequences of a failure to use all elements of the reconstructive philosophy - political, economic, and military - the United States interfered economically in the former Soviet union while neglecting other aspects of Russian development. The result was the growth of Russian antagonism as Russia
The European Union also has its own version for corporate social responsibility. (Landau, 85) Thus the U.S. polity was forced to adapt international opinions and legislate both for the external and internal aspects of its economy. Human rights, labor laws and a host of international issues like global warming and the use of chemicals were all reflected in amendments of the local laws while some of the issues like
International Trade Ever since Adam Smith demonstrated in The Wealth of Nations (1776) that individuals would be better off if they specialize, instead of trying to be economically self-sufficient, countries across the world have tried to apply the same principle to international trade. It is argued that all countries would be better off if they exchange the products and services that they are relatively good at producing for those things
The level of industrialization of the SEA countries also varies largely but this can be attributed to the difference in the size of the domestic market of each country or region and their overall level of development on the economic front. Singapore and Indonesia have benefitted largely from the creation of the ASEAN since these countries are the larger of the SEA countries. Malaysia has also benefitted as a
International Economics Law International Trade Law WTO Introduction The World Trade Organization, or WTO, is an international body that is located in Geneva, Switzerland and was officially founded in 1995 (The World Trade Organanization, 2012). There stated purpose is to help trade flow as freely as possible under a number of given restrictions. For example, the WTO does not try to get countries to openly trade items that are safety concerns or can
Despite offering particular benefits to post-conflict nations, increased levels of help following civil war also comes with negative upshots that entails a rise in fraud and jeopardizing one of the basic objectives of peacekeeping. Corruption affects the peacebuilding process, institutions and people in a given nation. For instance in Herzegovina and Bosnia, corruption affected the operation of Bosnian judicial institutions (Kahler, 2013). Moreover, the strategy adapted to address fraud in
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