Bus 378 Week 3
The legal impact that multinational trade agreements have on global trade
BUS 378
James Slack
05/02/2011
Globalization is usually referenced to the integration of countries and people around the world. It is the product of many factors, including the reduction in barriers to trade, improving transportation and communication costs, and facilitating the movement of capital, knowledge, technology, culture, and people across regional borders. The World Trade Organization (WTO) has become a focal point of globalization, largely due to its visible role in reducing barriers to trade in goods and services through multilateral trade negotiations and trade dispute resolution.
International law is a body of laws, regulations, and accepted practices by which different nations throughout the world interact with each other as well as with their own citizens and citizens of other countries. There are two basic categories of International Law, public International Law and private International Law, although the two tend to overlap frequently. Public International Law deals with relationships between different nations or between a nation and persons from another country. Private International Law generally deals with individual concerns, such as civil or human rights issues, not only between a government and its own citizens but also in how its citizens are treated by other nations.
International law is developed and agreed upon by those that make up the international system, but not every nation state is a member or has a part in the process. Most nations are said to comply with International Law, but that appears questionable considering the number of human rights violations still occurring around the world. While the international community does attempt to hold all nations to International Law, it is not always feasible. Force may be necessary in order to ensure compliance, and the international community is generally against the use of force
BUS 378
James Slack
05/02/2011
Globalization is usually referenced to the integration of countries and people around the world. It is the product of many factors, including the reduction in barriers to trade, improving transportation and communication costs, and facilitating the movement of capital, knowledge, technology, culture, and people across regional borders. The World Trade Organization (WTO) has become a focal point of globalization, largely due to its visible role in reducing barriers to trade in goods and services through multilateral trade negotiations and trade dispute resolution.
International law is a body of laws, regulations, and accepted practices by which different nations throughout the world interact with each other as well as with their own citizens and citizens of other countries. There are two basic categories of International Law, public International Law and private International Law, although the two tend to overlap frequently. Public International Law deals with relationships between different nations or between a nation and persons from another country. Private International Law generally deals with individual concerns, such as civil or human rights issues, not only between a government and its own citizens but also in how its citizens are treated by other nations.
International law is developed and agreed upon by those that make up the international system, but not every nation state is a member or has a part in the process. Most nations are said to comply with International Law, but that appears questionable considering the number of human rights violations still occurring around the world. While the international community does attempt to hold all nations to International Law, it is not always feasible. Force may be necessary in order to ensure compliance, and the international community is generally against the use of force
References: August, R., Mayer, D., & Bixby, M. (2009). International Business Law (5th ed.). Upper Saddle River: Prentice Hall Daniels, J., Radebaugh, L, & Sullivan, D. (2011). International Business: Environments and Operations (13th ed.). Upper Saddle River: Pearson Prentice Hall. Walker, M. (2007). Just How Good Is Globalization? Wall Street Journal. Macrory, P. F. J., Edmond, A .A., Plummer, M.G. (2005). The World Trade Organization: legal, economic and political analysis, (Vol. 20. Springer Science: New York NY World Trade Organization - Wikipedia, the free encyclopedia. en.wikipedia.org/wiki/World_Trade_Organization.com