Globalisation in trade
Some people think that the main benefit of global cooperation is in the protection of environment. Of course, this area of interests has an important place among international problems. But I would like to discuss the role of globalization in business.
Global cooperation contributes a lot to develop global trade. Free trade between countries increases now which causes the availability of product internationally and promote competition.
The differences of resources. Countries have different amounts of land, labor, and capital. When the global trade is developed each nation may produce goods for which its domestic opportunity costs are lower than the domestic opportunity costs of other nations and exchange those goods for products that have higher domestic opportunity costs compared to other nations. Russia may be able to sell oil to many countries, but it may lack technological goods of superior quality. It may trade with Japan for inputs.
Benefits of increased competition and attraction more consumers. Various duty free shops, common system of discounts and special offers are examples of international cooperation too. The benefits of globalization in this case are no doubt: all these measures allow consumers of all countries to buy goods of different brands at lower prices. Moreover, a great degree of competition leads to lower prices for consumers, great responsiveness to consumer wants and needs, and a wider variety of products.
Political benefits. Countries can leverage trade to forge closer cultural and political bonds. International connections also help promote diplomatic (rather than military) solutions to international problems.
To sum up, I want to say, that international trade is a good example of global cooperation. There are many benefits of this fact such as lower prices and better products for consumers, improved political ties among nations and efficiency gains for domestic producers.
Global cooperation contributes a lot to develop global trade. Free trade between countries increases now which causes the availability of product internationally and promote competition.
The differences of resources. Countries have different amounts of land, labor, and capital. When the global trade is developed each nation may produce goods for which its domestic opportunity costs are lower than the domestic opportunity costs of other nations and exchange those goods for products that have higher domestic opportunity costs compared to other nations. Russia may be able to sell oil to many countries, but it may lack technological goods of superior quality. It may trade with Japan for inputs.
Benefits of increased competition and attraction more consumers. Various duty free shops, common system of discounts and special offers are examples of international cooperation too. The benefits of globalization in this case are no doubt: all these measures allow consumers of all countries to buy goods of different brands at lower prices. Moreover, a great degree of competition leads to lower prices for consumers, great responsiveness to consumer wants and needs, and a wider variety of products.
Political benefits. Countries can leverage trade to forge closer cultural and political bonds. International connections also help promote diplomatic (rather than military) solutions to international problems.
To sum up, I want to say, that international trade is a good example of global cooperation. There are many benefits of this fact such as lower prices and better products for consumers, improved political ties among nations and efficiency gains for domestic producers.