Global Pursuit Of International Commerce - 1928 Words

3. Global Pursuit of International Commerce Today, globalization is a generic term, economic globalization demands key developments in trade, and these are finance and foreign direct reserves by multinational corporations. International trade has grown exponentially and has become a much more prominent influence over domestic and global economic businesses. Trade consumes a quarter of the total world income encompassing merchandise trade, banking, and information. (Ferguson, 2014). Export vendors and consumers benefit from the openness of the Internet yet organizations find themselves challenged with international businesses that have improved their productivity where transnational policy differences poses significant barriers. Global†¦show more content†¦More and more businesses have expanded their exchanges into the world markets because of the innovative technology advancements, assimilated financial systems, and openness of the Internet. Despite the technological progression, the majority of trade takes place in primary, advanced industrialized economies – U.S., Japan, and Western Europe. (Ferguson, 2014). In spite of the restricted nature of commercial globalization, transnational organizations play a significant role in the global economy. These entities have become major determinants of trade, industry locality, and other worldwide economic activities. Within the realm of the global economy, organizations must understand the principal forces altering global economic and political matters. A. International Commerce – Antitrust and Competition Enforcement and Free Trade The world of enforced trade competition or otherwise known as antitrust enforcement has now assumed a new dominance within global commerce. Trade and competition policy have always been viewed as influential between them. Essentially, both set forth balanced competition in the marketplace that benefits customers but doesn’t protect manufacturers. (Heather, 2014). Promoting competition through antitrust or trade competition is no easy undertaking. The challenge is prominent through foreign direct