Ethical issues on international trade

Many companies use child labour to produce products, they get away with it because some countries have much less employee protection and children don't have to have an education. Country-specific risks are those not targeted to a specific firm, but affecting an entire country or region, and include such things as currency reduction, local rebellions or the possibility of nationalisation.

Organisations like the World Trade Organisation WTOhowever, are often criticised for implementing and enforcing trade policies like these.

This would then assist developing countries in funding their own infrastructure, education and healthcare. Countries need to be enabled to design policies that improve human development outcomes. It is particularly poorer countries and their peoples who are in need of an equitable, rules-based system in which they can participate in global trade on the basis of the highest achievable equality of opportunity 2.

When the program visited the factory in Cambodia they spoke to over 5 workers and the general working conditions were 7 days a week with days up to 16 hours long, this is not right for children of the age of Further, the concept of a "family of nations" calls forth an international collective responsibility for development and for the universal common good.

The challenge is to create a legal framework for trade which gives developing countries both the economic surplus and the political autonomy to achieve human development goals, while respecting legitimate concerns regarding labor, social and environmental standards.

Protectionism is the policy of restricting trade between nations through methods such as high tariffs taxes on imported goods, putting quotas on imports, or any number of other restrictive policies a government might put in place to discourage people from buying imports.

It is argued that the processing of the cocoa tinning, roasting, labelling would help a country like Ghana earn more money and develop its manufacturing base, which would in turn help its economy to grow.

South Africa during the days of white rule and apartheid is an example. If you find that you are supporting a regime that oppresses its citizens, engages in discrimination and does not recognize basic freedoms, the ethical action is to withdraw from the market.

The implementation of the WTO agreements sometimes limits the capacity of governments to deal with poverty and social issues. Social and political problems can also result if unemployment and even poverty become widespread. It also limits and regulates trade when it conflicts with these diverse and legitimate policy goals, which should be protected.

Inconsistencies are identifiable between a trade rules system based on the present legal framework and one motivated by solidarity. It is now a fact that the achievement of such goals is dependent upon the decisions of developed countries, which must assume their particular responsibility for the universal common good and that of all humanity opening to a worldwide horizon.

Firms can deal with this by having detailed contingency plans written up by qualified risk managers. That the WTO places economic considerations ahead of concerns for the environment or human rights.

Political and economic relations between nations and peoples need to be built on a new basis. Political risk is a major variable in how business is run. An MBA can be one of the best ways professionals can prepare for a management, trade or general business career on a multinational level.

Ghana, for example, can export raw cocoa to Europe without incurring any tariffs. Finally, compliance with WTO rules, harmful in themselves in some cases, can stifle a more complete development agenda 9.

The Doha Declarations and Development The Doha Ministerial Conference produced two declarations that address the needs of poorer countries and their peoples, in a much more specific and satisfactory way than previous attempts.

Everything that is produced anywhere is exported and everything that is consumed, is imported from somewhere else. Since your company has the knowledge and expertise to operate within U,S.

The prevailing of national interests in current trade negotiations, despite all the declarations of respect for the development targets of the poor countries, does not serve the idea of a "family of nations", which is by nature a community based on mutual trust, mutual support and sincere respect.

The largest importers of Iranian oil are China and India. Weekly Edition in English n.

Legal & Ethical Issues in International Business Expansion

Present international trade arrangements WTO rules are a specific international legal system that codifies and enshrines the results of a series of national concessions on market access.

Commitment to even trade balances Principles 4 and 5 could invite countries to implement mercantilistic strategies: Trade is valuable and protection makes sense, but none of them should be taken to the extreme. Should MNCs be allowed to pollute the host countries for their economic advantage, or the MNCs should make sure that foreign subsidiaries follow the same standards as set in their home countries?

Consideration is needed as to the impact of WTO rules on people's right to food, an adequate standard of living, health, education, etc.

Many may suggest that pay and work conditions need to be similar across nations, but no one actually cares about the quantum of this divergence. Trade and Human Development For the Holy See, the multilateral trade system will have been truly accomplished when poor countries are able to integrate fully into the international community.

April 28, Updated On: An agreement on even trade balances would be the core of a fair global trade agreement. In any economic sector, including the international trade system, a rules-based approach is in place precisely to protect the weakest.

At the same time they are unable to compensate domestic entities suffering due to increased openness of the domestic market.Topic: Dimensions of ethics; ethical issues in international relations and funding. 9) Analyse the ethical issues in international trade and business. ( Words) Reference.

Legal & Ethical Issues in International Business Expansion

Issues of Business Ethics in Domestic and International Businesses: A (Corresponding author) Department International Trade, Çankaya University Eskişehir Yolu, Km., YenimahalleAnkara, Turkey E-mail: [email protected] A.

Turan Öztürk Ethics is a significant issue in business both on the firm level and wider phases. The issue of ethics seldom arises in discussions involving international trade. Talks generally revolve around a particular policy or how a particular policy affects this or that sector of the economy, industry, country or region.

When ethical issues are discussed, it is usually from a utilitarian. Ethical Issues in International Business; Ethical Issues in International Business Essay Sample Preparing to work in a foreign country puts a huge responsibility on the both the individual and the employer.

Business Ethics - International Trade Administration. Theories of Global Trade and Investments. International Business Management.

Ethical issues of international trade

Ethical Issues in International Business. Most Common Ethical Issues Employment practices Human rights Environmental regulations Corruption Moral obligation of multinational firms Employment Practices • When work conditions in a host nation are clearly inferior /5(12).

This is a big issue with international trading because companies believe they can get away with this, however because it is illegal in our country they get found out.

Ethical Considerations in International Business

Companies exploit the rules and regulations in other countries to get their products at a cheaper cost, shown in the video, this is an ethical .

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Ethical issues on international trade
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