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International business 2 edited

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Running head: INTERNATIONAL MARKETING 1
Introduction to International Business
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INTERNATIONAL MARKETING 2
Introduction to International Business
Topic 1 - World Trade
World trade provides a platform for interaction in trade between many nations. Dahal (2020)
discusses the pros and cons as follows:
Advantages
Promotes World Peace- countries tend to get into conflicts in trading, and the WTO
provides solutions to such disagreements. Solving disputes restores confidence and
cooperation within counties, thus promoting international trade.
The expansion of trading borders means more counties are added to trade, increasing
chances of disputes arising. These are handled constructively by the WTO rules and
regulations governing the international trade agreement.

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Running head: INTERNATIONAL MARKETING Introduction to International Business Student Name Institution 1 INTERNATIONAL MARKETING 2 Introduction to International Business Topic 1 - World Trade World trade provides a platform for interaction in trade between many nations. Dahal (2020) discusses the pros and cons as follows: Advantages • Promotes World Peace- countries tend to get into conflicts in trading, and the WTO provides solutions to such disagreements. Solving disputes restores confidence and cooperation within counties, thus promoting international trade. • The expansion of trading borders means more counties are added to trade, increasing chances of disputes arising. These are handled constructively by the WTO rules and regulations governing the international trade agreement. INTERNATIONAL MARKETING • 3 Rules simplifier the limitations and procedures that exist for international trading. The rules often balance the bargaining powers between the small countries and the powerful countries. • Free trade between the different nations cut the living costs by lowering the production costs of goods and services and the cost of trading. The economy of imports and exports is maintained without discrimination through the application of protectionism. • International trade raises incomes through the flow of foreign exchange. The government supports international trade if it brings benefits to the economy. Cash gained from international trade can be used ...
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