Encyclopaedia Britannica (2014) defines protectionism as the “Policy of protecting domestic industries against foreign competition by means of tariffs, subsidies, import quotas, or other restrictions or handicaps placed on the imports of foreign competitors.” Rising levels of globalization in modern times has led to a growing interdependence of countries around the world and increase in trade links between them (Johnson and Turner, 2010, p. 21). This in turn has created popular discourse on
The Uruguay Round at Punta del Este, Uruguay in 1986 was the last trade negotiation under the framework of GATT 1947 that eventually concluded in Marrakesh, Morocco, in April 1994. The outcome of the Uruguay Round was commendable as it considerably expanded the scope and content of trade rules, governing the international trading system. Firstly, the Uruguay Round sucessfully established the WTO as a new international organisation on trade equipped by various treaty-based, institutional articles
An economic integration, established on global, continental or regional level, is not a newborn phenomenon. Ever since the voyages of Marco Polo in 1260, (Latham, 1958) the collaboration and integration of world economies- through trade, movements of factors of production and transmission of economically effective knowledge and technology- has been continuously increasing. (Masson, 2000) The overall process of globalisation and economic integration has been in most cases globally beneficial, but
Topic 1: International Business 1. Why companies engage in international business? There are three major operating objectives that underline the reasons for companies to engage in international business: -expanding sales: pursuing international sales usually increases the potential market and potential profits -acquiring resources: foreign sources may give companies lower costs, new or better products, additional operating knowledge -minimizing risk: international operations may reduce
The pursuit of desirable global development is, by its very nature, an inexact science. Its history is as rambling and tumultuous as the best of sensationalist fiction – a turbulent and violent ancestral evolution from colonisation via globalisation; a bold and daring adolescence, rich with Charters and Policies; a string of all consuming love affairs with theorists who promise the world, but always leave us somewhat disappointed… As the development sector kicks up its heels and prepares to take
INTRODUCTION From the Institutional Revolutionary party (PRI) to the National Action Party (PAN) to the Party of Democratic Revolution (PRD), Mexico has had many political parties in the past and present but many have questioned the fact that how has PRI manage to stay in power and maintain its place as the dominant party in the past. In this short research paper I am going to be talking about Partido Revolucionario Institutional (PRI) and Mexico. I want to discuss the history of PRI and how it
The founding fathers of the United States Constitution suspected that through democracy, a government ruled by the majority, the majority could easily become tyrannical in its usage of unrestricted power. That is, in denying or denoting the rights of certain minority groups. These fathers included Thomas Jefferson who stated in his 1801 Inaugural Address for President of the United States, “All, too, will bear in mind this sacred principle, that though the will of the majority is in all cases to
Media, Culture & Society http://mcs.sagepub.com Cultural industries in the Digital Age: some provisional conclusions Enrique Bustamante Media Culture Society 2004; 26; 803 DOI: 10.1177/0163443704047027 The online version of this article can be found at: http://mcs.sagepub.com/cgi/content/abstract/26/6/803 Published by: http://www.sagepublications.com Additional services and information for Media, Culture & Society can be found at: Email Alerts: http://mcs.sagepub.com/cgi/alerts Subscriptions:
Over the years, many banks in the US started the practice of offering home loans to high risk individuals, i.e., individuals who had a high probability of defaulting on their loans. The banks justified this move by saying that even if these individuals defaulted on their loans, the amount could be recovered by selling off the property in question. Over a period of time, many of these individuals defaulted on their payments, as was expected, and
Political Risk Management and Insurance: A Contextual Comparison [Author's Name] [Institution's Name] Abstract This dissertations presents concept of political risk in the context of Efficient Market Theory (Hypothesis) and State capitalism. The paper explores the link between the three ways of insuring political risk to economic theories. Using case study of a multinational firm the political regime and its effect has been explored on business situations and how it can be managed. Political