Why should we worry about misaligned participations in trade? According to the U.S. Department of Commerce, less than 1 percent of U.S. firms export. Tens of thousands of small-business manufacturers and service sector firms could export their goods and services, but do not. These companies often fear the challenges of going overseas. But all firms entering new markets face shortcomings and disadvantages when compared to local competitors. Due to a lack of local knowledge, unfamiliarity with market conditions, insufficient insights into consumer behavior, and newness to political decision making, all new entrants encounter a “burden of foreignness.” Policymakers need to help prospective exporters overcome this burden and successfully access new opportunities overseas.
Spring Break 2016 is around the corner. While you are packing up swimsuits and heading for somewhere warm, we are here to offer you some thoughts of islands and beauty. If you are planning to get some readings done by the beach, this review of trade policy in Fiji 2016 is waiting for you to pick up and read.
For the month of April 2013
Year To Date Total in Total in Billions Billions Country Name of U.S. $ of U.S. $ Canada 54.75 208.98 Mexico 44.24 164.53 China 42.09 167.43 Japan 17.04 67.11 Germany 13.62 51.55 Korea, South 8.79 34.23 United Kingdom 7.81 32.58 France 6.75 24.20 Switzerland 6.32 19.55 India 5.73 20.56
As of August 22, 2012, Russia became the 156th member of the World Trade Organization (WTO) and on December 21, 2012, President Obama signed legislation that extended permanent normal trade relations with Russia and Moldova. A day before approving this legislation, the U.S. and Russia agreed to an Intellectual Property Rights (IPR) Action Plan in order to improve IPR protection and enforcement. It is important to remember that Russia is currently the U.S.’ 20th largest goods trading partner and that in 2011, Russia was the 14th largest import supplier to the U.S. It will be interesting to see how the U.S. and Russia attempt to increase their economic potentials now with less barriers to trade. Which key dimension will reign: Economics or Politics?