Spring Break Essential – Beach Reads in Fiji

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.

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Why Trade Is Good For Your Country and Company

It is hard to understand the value of global trade and exports in particular. Exports can determine the level of imports that a country can sustain, affect currency values as well as the fiscal and monetary policies of countries, and shape public perception of a nation’s ability to compete. In 2008, the U.S. was importing 1.5 times as much as it was exporting, creating a trade deficit of $680 billion. Large trade deficits are not sustainable in the long run. They are a strong indicator that a country is consuming more than it is producing, which reduces independence by making it increasingly reliant on the products and services of other nations.

Increasing export volume helps reduce the trade deficit. This is a wise course of action for many reasons, but one of the most important is that exporting creates jobs. In fact, the International Trade Administration of the U.S. Department of Commerce reports that, in 2006, exports of manufactured goods supported 6 million U.S. jobs. Just as importantly for companies, however, is how exporting can help them achieve economies of scale. By broadening reach and serving customers abroad, it is possible to produce more and to do more efficiently in industries affected by economies of scale. This often leads to lower costs and higher profits both at home and abroad

 

This is an excerpt from Dr. Czinkota’s book Global Business: Positioning Ventures Ahead, co-authored by Dr. Ilkka Ronkainen.

Michael R Czinkota and Ilkka A Ronkainen, Global Business: Positioning Ventures Ahead (New York: Routledge, 2011), pg. 14 -15. 

Click HERE to acquire the full book.

The Growing U.S. Trade Deficit

According to the latest reports,released on July 12, 2011,  the U.S. Trade Deficit has increased greatly from April to May due in part to the rising oil costs.   The U.S. Department of Commerce states that the good and services deficit increased from $43.6 billion to $50.2 billion over that month.  Click here to read the press release in its entirety.

Chime in with your thoughts and concerns in the comments.