QUESTION

MMM306 Global Strategy and International Management

Assignment One (Individual Assignment)

Date and time of submission of Assignment 1: 15^th April, 2012 by 11:59 pm.

This subject is basically assignment based although we would be having an examination with 30 percent marks. There would be two assignments and both of them would be thirty five percent each. Assignment one would be an individual assignment. The required world length for the assignment one would be 3000 words and total marks for this assignment is 35 out of 100. Assignments are critical for achieving success in this subject. The structure of the analysis is to be essay type which gives you a better space for critical analysis of the issues.

After talking to students and my colleagues, following topics have been offered. Students are to select any one topic and do the critical examination of the issues in terms of their global significance.

1. Globalization: does institutional diversity across nations and sometimes within nations support the concept of world integration also known as globalization?
2. International monetary system and globalization
3. How important is the role of governments in international transactions?
4. International institutions and global strategy

Students are required to select only one of the issues listed above and undertake an in-depth analysis of the topic.  These issues are related to contemporary topics in global business. You are expected to undertake further research into the underlying theories and concept relating to this topic in the academic literature. Students may discuss these issues in relation to their home country or local region but in the case you want to discuss a narrower aspect of issues, it is advisable to discuss the modification of the issues with your lecturer. The research articles may come from overseas sources but they should be in English.  You are then required to write a comprehensive paper discussing the issue selected and your findings/recommendations.

Assessment Criteria

There is no right or wrong answers for these issues. You are free to adopt any line of analysis, any line of reasoning but try to justify your analysis on the basis of your research.

The paper will be assessed on the quality of the following criteria:

1. Development of a proper structure for your analysis.
2. The quality of your research. The number of citations is not a true reflection of your research, but the quality of the sources and the manner in which you incorporate this material into the paper would be considered as important factors in the evaluation of the assignment. However, we are looking at your ability to think through the issues and whether your analysis can help in a better understanding of global business transactions and a better understanding of contextual environment of global strategy formulation.
3. Comprehensiveness of your analysis.
4. Appropriate citations and referencing of all materials directly referred to in your research project.

 

 

Assignment Format:

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1. This assignment should be written in essay format and not more than 3000 words long. It must be typed 1.5 spaced using 12 point prints, with at least 2.5 cm margins.
2. The paper should have a title page, an abstract, introduction, the body of the analysis, recommendations if any, a conclusion/findings and a list of references. However, you are free to adopt any acceptable format you are comfortable with.
3. An abstract can be 100 to 150 words long. It is not an introductory paragraph of your research assessment.
4. If you are using data, information or ideas from other authors (i.e. from your resources) in your paper, make sure that there are proper citations for these materials.
5. Use tables and diagrams where appropriate and label them carefully.
6. The list of references should be in alphabetical order and consistently presented. In case, you have obtained the documents from the Internet, please also mention the date of your visit to the site.
7. Appendixes are normally not required. However, in the case you desire to use appendixes, please use the minimum possible. You must refer to these in the body of the paper.
8. Please indicate the total number of words in your essay at the end of the paper. This should include words in all sections, tables and the abstract. However it does not include the Title page or any Appendices.

Only one hard (print) copy of the assignment is to be submitted.  The paper should also include a copy of the Research Assignment Attachment A, which is a separate document in this folder. Remember that each student must submit an electronic copy on DSO in addition to the hard copy submitted to the lecturer or tutor or in the office.

MMM306 Assignment 2 (Group Assignment)

Group of maximum four (4) students

Date of submission of Assignment 2: 13^th May, 2012 by 11:59 pm.

Writing a group assignment in MMM306 dealing with Global Strategy and International Management is more like swimming where until you jump into the water, you need not know the intricacies involved in swimming. This assignment is based on the theoretical discussions to start with. The critical theoretical discussions is to be put in the beginning followed by the identification of the firm and to analyse the firm in terms of the Resource Based View, the widely accepted view of business strategy as applied in global strategy formulation. We will be discussing different types of strategies during this semester but the main emphasis is going to be on the resource based view. However, you are free to include discussions pertaining to the Delta Model of Hax and Wilde (Discussed in topic 2) and the Bottom of the Pyramid approach of Hart and Prahalad (again discussed in topic 2) if you think that their discussions clarify the firm’s global strategy.

Total number of words: Approximately 3500

The structure of the assignment: It should be based on report type of format.

Acknowledgement (if you want to sound a bit more professional)

Abstract (Approximately 150 to 200 words)

Keywords

Contents

1. 1.    Introduction

It can include the following

Background of the firm

Rationale of the study

What resources are available to the firm?

What is the level and characteristics of these resources?

Are these recourses capable of creating sustainable competitive advantage?

Purpose of the study

1. 2.    Review of the theory

It can include the following

Conceptual background

Characteristics of Resources

Resources and the role of managers

Resource functionality

Resource recombination

Resource creation and decay

The discussion of the resource based view can be expanded to include the contemporary development of the resource based view, dynamic capability, which discusses the combination and recombination of resources to deal with changing external environment and changing internal objectives of the firm.

1. 3.    Firm Analysis

It can include the following

Overall analysis

Analysis on VRIO or VRIN perspective

Discussions and conclusion

 

The paper will be assessed on the quality of the following criteria:

1. Development of a proper structure for your analysis.
2. The quality of your research. The number of citations is not a true reflection of your research, but the quality of the sources and the manner in which you incorporate this material into the paper would be considered as important factors in the evaluation of the assignment. However, we are looking at your ability to think through the issues and whether your analysis can help in a better understanding of global strategy of a firm.
3. Comprehensiveness of your analysis.
4. Reasonableness of your recommendation
5. Appropriate citations and referencing of all materials directly referred to in your research project.

 

Only one hard (print) copy of the assignment is to be submitted for the entire group.  The paper should also include a copy of the Research Assignment Attachment A, which is a separate document in this folder. Remember that each student must submit an electronic copy on DSO in addition to the hard copy submitted to the lecturer or tutor or in the office.

Working on Group Assignments

You are encouraged to work in a group for assignment 2. Please try not to divide the work in equal proportion although sometimes tasks can be easily divided. A synergistic group meets quite often and discusses the issues together. If group work is done synergistically, the quality of research would be better than if it is done individually. It is better to select members who have different areas of expertise and with whom you can work. Make sure that you exchange contact details, such as telephone numbers, e-mail addresses, etc., as well as deciding where and when you will meet/interact in the future. The group should spend some time discussing how the work is to be organized. Instead of dividing your work in half, try to ensure that members of the group complement their expertise resulting in a superior assignment. Please prepare a proper time-frame for your assignment so that group members know exactly when to do what. Not following the time frame has invariably led to bitterness and bad assignment.

Referencing requirements

Referencing involves acknowledging original sources of information when producing written work. By referencing correctly, you not only give weight to any arguments or statements made in your work, but also avoid plagiarism.

The following links to the Student Life website provides a comprehensive guide on ‘How to Reference Your Writing’ (downloadable):
www.deakin.edu.au/studentlife/academic_skills/undergraduate/handouts/reference.php

www.deakin.edu.au/studentlife/academic_skills/postgraduate/handouts/reference.php

The following Library website provides a virtual tutorial on referencing and has an online quiz: www.deakin.edu.au/library/tutorials/smartsearcher/

The essay normally requires “a coherently argued view of a topic” whereas a report focuses on “presenting information objectively.”
The difference between an essay and a report is a little difficult to define. The essay is argumentative whereas a report is around a point stated as a hypothesis. Reports are generally written for a specialized audience and that demands a specific format i.e. the format of a report is more rigidly constrained. Use of some headings in an essay does not convert it into a report. An essay provides wider latitude to your analysis. I hope I have cleared your doubts and if you still feel uncomfortable with the format we have suggested, you can use the format you have in mind regarding the essay. Evaluation is based a lot on the quality of the analysis.

SOLUTION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Abstract

 

International transaction and trade normally plays a critical role in expansion and prosperity of Government. As open trading between the states creates widespread profits, so does open transaction on the global scales. Trade and transaction will generate competition, will promote the transfers of technologies, and will allow the access of consumers as well as businesses to the top class products worldwide. This ultimately results in innovative, productive, and raising incomes. Economists have long embedded these benefits, but governments often interfered open transaction by restricting the importing and exporting options due to various reasons. The target of this paper will be to estimate the importance of role of government in international transaction. For doing this, this paper will deal with the international trade and transactions and their merits, demerits and management from several aspects. After analyzing the obtained data, role of government in international transaction can be established.

 

 

 

 

 

 

Introduction

 

Due to the rising globalization, international business and transaction have become matters of great significance. Moreover, many multinational companies are trying to enhance their boundaries of business. In addition, number of companies operating business outside their country is increasing rapidly. For achieving an improved quality index of life, worldwide trade and transactions are considered currently as one of the most important issues for government. This is why the practice of trades among countries is increasing rapidly. In addition, to maintain that external and internal environment of trade, political, economic, cultural and physical ecosystem of the country must be changed in according to the nature of trade. For all of those reasons, government has to depict the issue of international transaction as one important matter of question for the stability of the economic system of the country. By being an open economic country, one should have to allow free international trade flows among various countries as well as nations. Through the ways of international business, foreign currency reserve, political issues and other important factors like protectionism might come into play drastically. As the craziest times need craziest measures, at those drastic times, government might need to handle the issue of international transaction to maintain the stability of the socio economic and ethical ecosystem. Here government might go through several changes in according to the nature of gripping movement of the foreign companies as well as countries.

The target of this paper will be to understand the roles of government in international transactions and to determine the importance of that role of government. Here, at first there will be a brief discuss regarding international trade and transaction to clarify the facts of international trade. After that, the policy tools of government and their forms to control the international transaction will be discussed for proper understanding of the measures of government. At last, the reasons behind application of those roles will be depicted to determine the importance of government. According to the analysis, there will be recommendation whether those transactions and trades are to be increased or not in according to the relative nature of the economic, political and ethical situation. By proper understanding of the international trade and transaction, it is quite certain that the government has total control over the international transactions and their influences can certainly change the façade as well as future prospect of the nation.

 

 

 

 

Analysis

 

In this particular portion of this paper, there will depiction regarding international trades and transaction. As well, their natures and forms will be discussed to understand the government policy to control those. After that, government policy tools for influencing international transactions and trades will be depicted. At the next course of this paper, a discussion will be provided for better understanding of the reasons behind applying those policy tools to control international transaction. Then the role of government in international transactions and their vital importance in the stability of the country will be discussed to establish the overall trade and transaction controlling capability of the government. Here few corrupt practices might come into play in the course of action of government. Those will also be discussed in addition to the government policy to handle corrupt practices.

From the very beginning of the world, it has rich tradition of business transactions and trades worldwide. Even in today’s world, it is increasing by leaps and bounds.

Trade Expressed as a Percentage of Production, World and United States, 1965-2003.

Figure 1: Huge growth of international transaction and trade over the last few decades

In addition to important raw materials, countries can be in need of luxurious and entertaining materials. Nations also go for interchanging a wide range of food as well as finished products. Here one thing should be clarifies that each country has its own specialty and skills based on its economy, natural resources and capability of the citizens. As a 1988 study, over time, work force of a nation might be changes. At such conditions, products, exporting and importing environment will also be changed; until 1970s, USA was the dominant manufacturer of the finished products. After that, the situation changed dramatically and other countries began to provide finished particles more efficiently and cheaply as well (Helen Bowers). Like this example mentioned above, thousands of sectors in international transactions are being emptied and fulfilled.

Every country varies on the subject of international trade as well as transactions and repositioning of foreign vegetation on the native soil. Several countries explicitly court foreign corporations and persuade them to invest in their nation by contributing reduced amount of taxes or other investment motivations. Several countries inflict strict policy that will result large companies leaving and opening a plant in one country that offers favorable operating circumstances. As a 1992 study, when one company comes to a decision to carry out production and investment in foreign country, it will consider political steadiness of host country (Boone, L., and Kurtz). According to a 1993 study, another important phase of international transaction is the payment of products in foreign currency. This particular occurrence can generate potential threats for company as well as country. Since currency is subject matter to the fluctuation of price, one company or country might lose their money if value of foreign currency decreases before the exchange of money into expected currency (Brue, S., and McConnell, C) . According to a 1995 study, another important issue about currency is that several nations might not have necessary cash or reserve of foreign currency. Instead of this, they might employ themselves in the counter transaction and trade, which will involve direct or indirect switching over of products for other goods that might potentially be harmful for the local products of that particular country (Churchill and Peter).

According to a 1995 study, one of the most important factors of influencing international transaction and trade is taxes. Here government can show potential influence over the foreign currencies (Czinkota, M. R., and Ronkainen).  Different types of taxes might be applied to the goods that are imported. Among those, the commonest is applying tariff that is generally being considered as one excise tax forced on the imported materials. A country can impose a tariff for various reasons and by applying this policy, they can provide potential control over the foreign transactions.

Tariff normally set at low level might usually not expose threats to international companies. According to a 2006 study, when domestic producers in one particular business are at disadvantages due to imported materials, government can force a higher tariff what can be called as protective tariff (Moens, Gabriel and Gillies, Peter). This tariff has been designed in such way that the foreign products will become more expensive than local products. Because of this occurrence, domestic companies can potentially be protected. Protective tariff normally is very well accepted among affected local companies as well as their workers.

In reprisal, country that is being protected by protective tariffs will often endorse tariffs of its own on products from main tariff endorsing country. According to a 1966 study, in the year of 1930, U.S. Congress passed Smoot-Hawley Tariff Act that offered means to place protective tariff on the import (Duell, Sloan, and Pearce).

Before starting exportation of goods to other nations, one corporation should first inspect the taboos, values and norms of those nations as well countries. This particular information will be very significant for thriving introduction of products into one particular country. It will also leave its impact on how it will be marketed. Business professionals might run another practice, which basically occurs in lots of third world countries. Practice of bribery is very common in lots of countries. In addition, it is currently being considered as normal business occurrence. If bribe is not being paid where bribery is desired, one business transaction will become doubtful. Several governments are now applying laws to prohibit people from accepting bribes in business transaction issues. According to a 2003 study, various products might influence the tradition and custom of the country that might in turn be harmful for the generations utilizing those particular products (Todd and Paul).

Government has the potential to apply various policy tools for influencing international transactions. Here in this particular portion of this paper, those policy tools and their forms of controls will be discussed.

• For controlling the international transactions and trades, government might try to be in command of the degree of closeness or openness of their economy. This can be done through various policy tools. In severe circumstances, government might apply a drastic solution. For doing this, they can institute trade bans. Theoretically, any country might inhibit any sorts of foreign trade and transactions, but in very few occasions, this can be happened. Basically, country or government normally banned the entrance of particular product. According to a 2006 study, even they can ban transaction with specific countries (like USA banned their transactions with Cuba) (Neva R. Goodwin, Julie A. Nelson, Frank Ackerman, Thomas Weisskopf, Cutler Cleveland). For doing this, government can provide hyperactive inspection at the border areas and the airports or other transportation mediums.
• One less drastic venture would be to apply a trade quota for controlling international transactions. This will not eliminate the trade. This measure will set limit for the quantity of materials which can be exported or imported. By restricting the supply materials, government can out a quota on the importation. The restriction of supply materials can be done by increasing the price of raw or prime components. This importation quota will be helpful for the domestic products. This will be done by putting on a shield for them from the lower price competitions. This will ultimately hurt the foreign providers by limiting their aspect of business.
• Next policy would be to apply tariffs. This application of tariffs is highly popular and very often used for expanding or contracting transactions and trades. Tariffs like those that the quotas might serve reducing trade and transactions since they will make international products more costly to sell or buy. Like the quota, importation tariffs will benefit the domestic providers while increasing prices to the consumer. Unlike the quotas, importation tariffs will give monetary facilities to government. Moreover, unlike the quota, tariffs will not offer the opportunity for foreign providers to increase their prices. Even foreign providers might force themselves to lower their prices for remaining competitive with the domestic providers who need not to pay their tariffs.
  • The least important major way to control transactions might be used for enlarging or contracting trade. This is basically export subsidies where domestic producers have been paid when they are going to market their goods abroad. This procedure has been inspired by strong desire for increasing the exportation flows. Countries or governments might also utilize subsidies for promoting one policy of importing substitution. This will be applied by providing domestic providers an extra payment for encouraging production of several materials for local markets. The goal of this procedure is to reduce the extent of importation.
  • If government wants, they can also influence the capital transactions internationally. Central banks frequently partake in the foreign exchange markets. They do apply this by keeping the policy goals in mind. Countries or governments occasionally institute the capital control. This can be done by applying taxes or restrictions on the transactions in case of financial asset like bonds, stocks or currency. This has to be done by forcing foreign ownership of the domestic properties like lands or businesses. According to a 2006 study, Government can apply restrictions on how much money one person may take out of one particular country.  These controls are designed in such ways that those have been usually instituted to try preventing destabilizing and rapid swings in movements of the financial capitals (B Wolf, Martin).
  • Government might employ trade policies to enact to try attracting the foreign investments. They can offer this by providing the foreign companies lesser amount of tax restrictions and other incentives as well. One popular form of this policy is to formulate a foreign trade region. Foreign trade zone is one designated area of country. Within that particular area, many tariff as well as taxes and several regulatory policies might not be enforced that usually applied to the manufacturing procedures. By the process of attracting the foreign investments, countries or governments might expect to enhance the employment. Even they can gain entrance to several significant technologies by this process. As example, according to a 2008 study, we can find the maquiladora policy of Mexico (Parmy Olson and Miriam Marcus). Under this policy, manufacturing plants can be allowed to import several components and manufacture materials free of tariffs.
  • Migration controls will another vital portion of the policy. Countries or governments normally impose various restrictions on the people moving or travelling into their area. Even a few might impose strict regulation on the public exiting that particular country. Race population size and national cultures are normally the most evident influences behind shaping of those specific controls. Economic concerns here can also play a key role.
  • Influencing in the foreign exchange market might play a vital role in case of controlling international transactions. In case of several important circumstances, government might intervene the foreign exchange markets by influencing level of exchange rate. According to a 2009 study, Government sometimes applies reserves and borrowing methods. They can borrow money to achieve the desired effect in the foreign exchange market. Changing the interest rate and reducing inflation might affect the foreign exchange markets as well (Oliver Bush, Katie Farrant and Michelle Wright).

 

Basically, for international transactions controlling, government applies two forms of trade restrictions. According to a 1993 study, one will be Tariffs barrier and another will be Non-tariff barrier (Kotler, P., and Armstrong).

Forms of trade control

Tariffs: Tariff is generally known as tax. Moreover, those can commonly be called as duty. This can be applied to importer, intermediary firms and exporter. Applying Tariffs to importer is the commonest option for the governments to apply.

Purpose: Purpose of the tariffs is to increase the price of the services or goods, which are being imported by the importer.
Goal: Goal of the tariffs is to increase the price of imported goods above the domestic goods. The basic benefit of this procedure is to increase the revenue of government and to protect the domestic firms and products.
Kinds of tariffs

According to a 1999 study, tariffs can be of three types.

1. Specific duties: tariff = $/unit.
2. Ad valorem tariffs: tariffs = % of entry prices.
3. Countervailing tariffs: tariffs = the export subsidies. (Carr, Indira).

   According to a 2005 study, in spite of being the oldest form of trade policy to control transactions, tariff is still being used as important source government revenue. Moreover, before the introduction of income tax, tariffs were being used as the primary source of revenue for governments (Goode Ray et al).

 

 

Nontariff Barriers

• Dumping barriers
• Anti-dumping
  •  Example: EU anti-dumping tariffs on the energy-saving light bulbs of Chinese industry in according to a 1985 study (Hoyle, Mark S. W)
• Countervailing Duty
  • (In some occasions,  countervailing duties along with anti-dumping tariffs can be meant for the similar sort of things in according to a 1985 study (Hoyle, Mark S. W))
• Quotas – limited by the quantity
• Subsidies: aid (Grants as well as loans)
• VERs – Voluntary Export Restraints
• “buy national” policy
  • example; Ontario Government / Japanese Government in according to a 1985 study (Hoyle, Mark S. W)
  • Japan complained to WTO about the unfairly excluding of Ontario’s “buy Ontario” policy.
• Customs valuations:-example; in UK, Pringles are not basically potato chips!

 

• Standards: example:- Canadian government lobbying to change building codes of Chinese government which allows the Canadian Government to use the Canadian softwood lumber more in according to a 1985 study (Hoyle, Mark S. W).
• trade sanctions
  • example; 2004,Trade Sanctions of EU slaps on the U.S. in according to a 1985 study (Hoyle, Mark S. W)

 

This portion will concern about one important question. Here you might ask why governments do need to engage themselves in the international trades and transactions. Moreover, those reasons will depict the main issue of this paper. By proper understanding of the reasons behind application of trade control policy for controlling international transactions, role of the government regarding this discussed factor can be revealed. Moreover, the vital importance of role of government in international transactions can also be depicted.

In according to a 2003 study, the main reasons behind applying those policies will be the following:

• Reasons for protectionism of the realm and nations
• Protection of the domestic industries, business and productions, employment, Proper control over natural resources, capital controls, and proper ownership and control over technology .
• Maintaining monopoly price (e.g., OPEC);
• Expanding foreign market shares
• Inducing fairness
• Support for domestic ownership as well as control.
• Improvement of the remaining balances of trade as well as currency or establish the balance of trade.
• Protecting the dominion as well as national security
• Protecting the domestic and traditional culture(s) as well as social values
• Foreign exchange reserve
• Influences of the political environment: Government often maneuvers trade and transactions for normal political reasons. This has to be done to maintain decent political relations with other countries. (Brink Lindsey and Daniel J. Ikenson)

 

In this particular segment, the vital role of government in foreign trade and transactions will be depicted. Basically there are two types of government interventions. One will be the economic rationale and another will be Non-economic rationale.

In according to a 2004 study, the non-economic rationale for government intervening moods will be the following:

• maintaining necessary industries (To maintain the necessary industry level in the country, government has to control the international transactions. As the rapid growth and rising development of the foreign companies might hamper the growth and development of the local productions, government has to control the growth and development of foreign companies by increasing tariff or fixing the trade limit.)
• To deal with the “unfriendly” countries (For dealing with the unfriendly countries, government can act in different ways. They can expand their trading facilities to decrease the unfriendliness or they can even ban the trading relationship with the unfriendly territories.)
• maintaining influence (Maintaining zonal and international influence can be another matter of important fact. For maintaining influence in this current world, business and currency would be the most important tools. Government can use this tools to maintain influence throughout the world)
• preserving national identity and culture (For preserving national identity and culture, sometimes government may ban and limit the trading of several foreign products) (Goode Ray et al)

In according to a 1985 study, the economic rationales for government intervening moods will be the following:

 

• Preventing unemployment (To prevent unemployment at the national level, limiting transaction and trade might be a decent way. It decreases the workload of foreign companies and increases the production of local companies, thus decreasing the unemployment at the national level.)
• Preventing Money laundering (In today’s world, money laundering is an important issue. To prevent money laundering, government can control the foreign exchange market and foreign transactions)
• Protecting infant industries (To protect the unstable industries, it is important to limit the international trade and transactions as the foreign companies can act like assassins for those infant industries)
• Increasing industrialization (To increase industrialization at the national level, controlling trade and transaction can be a sophisticated way)
• Economic relationships with the neighboring as well as other countries (For maintaining economic relationships with the neighboring countries, it is important to provide trade and transaction facilities to the neighboring countries. This in turn will help to develop political relationship among countries. Moreover, countries can gain access for trading to other countries by this particular way) (Hoyle, Mark S. W)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recommendation

 

According to the discussion mentioned above, we can put a conclusion to the discussed question. Our main theme was to determine the importance of role of government in international transactions. From the reasons behind controlling the importance of international transactions and trades, it can clearly be depicted that government has full and final control over the international trade as well as transactions. For various purposes, government can utilize its policy tools to expand and contract international transactions. They can control those trades for protection of the realms and the domestic industries as mentioned above.

Along with all the facts mentioned above, any government should become concerned with their current affairs. For almost all of the third world countries, it has become a tradition to utilize international transactions for money laundering. In addition, domestic ownership can also be another important matter of fact. As the Government Policy tools to control transactions are relative, they should categorize the facts under two headings. One should relate the matters, which can be effective and other, should contain the harmful facts. In this particular situation, Government should not take any drastic decision like closed gate theory. Effective categories or countries should be welcome and in the other hand, harmful activities like money laundering should be controlled by allowing citizens to send limited amount of money to other countries. There should be nothing like increasing or decreasing the whole transactions. It should completely depend upon the beneficiary and harmful categories.

 

 

 

 

 

 

 

 

 

 

Conclusion

 

The motto of our paper was to find out the importance of role of government in international transactions. From various data and resources, it has been found that the government is completely capable of controlling international transactions. In case of harmful effects of international transactions, government can take measures to temporary ban or limit those harmful sectors. In case of beneficiary sectors, government has got the ways of utilizing international transactions and trades for the welfare of the country and nations. If it is needed to control the corrupt measures of international transactions like money laundering and bribery, government is well capable of doing that. Now the question might arise whether the government is willing to do that or not. From the above-mentioned discussion, data and resources, here it is quite certain that, if government tries to contract the harmful effects of international transaction or to expand the beneficiary effects of it, they are well capable of accomplishing that. Because of this reason, it goes without saying that the government has got significant roles to play in international transactions and trades for the well being of the country and nation.   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

 

1. Boone, L., and Kurtz, D., 1992. “Contemporary Marketing”. New York: Dryden Press.
2. Brink Lindsey and Daniel J. Ikenson, 2003, “The Devilish Details of Unfair Trade Law” (Washington: Cato Institute, 2003)
3. Brue, S., and McConnell, C, 1993. Economics. New York: McGraw-Hill.
4. B Wolf, Martin, 2009, “Fixing Global Finance”. Yale University Press.
5. 5.   Carr, Indira, 1999, “Principles of International Trade Law” (2nd ed, 1999)
6. Churchill and Peter,1995. “Marketing: Creating Value for Customers”. Austen Press.
7. Czinkota, M. R., and Ronkainen, I. A, 1995. “International Marketing. New York: Dryden Press”.
8. Duell, Sloan, and Pearce, 1966, “The United States Department of Commerce: A Story of Industry, Science, and Trade”.
9. Farese, L., Kimbrell, G., and Woloszyk, 1991. “Marketing Essentials”. Mission Hills, CA: Glencoe/McGraw-Hill.
10. Goode Ray et al.2004, “Transnational Commercial Law – International Instruments and Commentary” (1st, 2004)
11. Helen Bowers, 1988, “From Lighthouses to Laserbeams: A History of the U.S. Department of Commerce” (Washington: U.S. Department of Commerce, 1988)
12. Hoyle, Mark S. W, 1985; “The Law of International Trade” (2nd ed, 1985)
13. Kotler, P., and Armstrong, G., 1993. “Marketing: An Introduction”.
14. Moens, Gabriel and Gillies, Peter, 2006; “International Trade and Business: Law, Policy and Ethics” (2nd ed, 2006)
15. Neva R. Goodwin, Julie A. Nelson, Frank Ackerman, Thomas Weisskopf, Cutler Cleveland, 2006; “Global economy”. [First published: November 6, 2006; Last revised Date November 6, 2006]; Retrieved March 31, 2012; Hyperlink: http://www.eoearth.org/article/Global_economy
16. Oliver Bush, Katie Farrant and Michelle Wright , 2009; “Reform of the International Monetary and Financial System”
17. Parmy Olson and Miriam Marcus, 2008; “Bringing the Banking Mess to Broadway”.
18. Todd, Paul, 2003; “Cases and Materials on International Trade Law” (1st ed,)

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