International trade has social and environmental disadvantages, including negative effects on cultures and exploitation of workers. It can lead to job losses in developed countries and depletion of natural resources. Small economies are often dependent on developed nations, which can lead to exploitation and trade restrictions. The disadvantages of international trade range from negative social […]
International maritime law covers issues such as private commerce, carriage of goods and passengers, and legal issues that arise at sea. There are common legal concepts such as the treatment of seamen, liens, injuries, and salvage. The “maintenance and care” doctrine requires shipowners to care for injured sailors until they reach maximum medical care. Liens […]
International trade involves the exchange of goods and services across borders, facilitated by technological advances. It impacts economies, employment, outsourcing, and unfair labor practices, benefiting both developed and developing countries but also leading to exploitation of cheap labor in some cases. International trade is trade that transcends international borders. This is in direct contrast to […]
An international tax manager ensures a multinational company complies with tax laws in each country it operates in, while also saving money by using tax laws to the company’s advantage. They must have a degree in accounting, language skills, and knowledge of national and international laws. They calculate overall tax liability, keep up with legislative […]
International criminal courts are established to prosecute international crimes, often arising from a specific situation. The International Criminal Court (ICC) is a general court created to prosecute various human rights crimes. Countries can become members of the ICC through the signing and ratification of the Rome Statute. Temporary criminal courts are also established to prosecute […]
An international sales representative sells goods or services to customers outside their own country, requiring excellent interpersonal skills, confidence, and knowledge of the products. They communicate with customers, expand the customer base, travel internationally, and attend company meetings. An international sales representative is a person who sells goods or services to customers outside their own […]
The World Court in the Netherlands settles disputes between nations and hears criminal cases. It was established in 1946 and has 15 judges appointed by the UN. The court has resolved cases involving international treaties, environmental law, and war crimes, but member countries are not necessarily bound by court decisions. The current seat is in […]
The International Court of Justice (ICJ) is the UN’s judicial organ, established in 1945 to settle disputes and provide advisory opinions. The ICJ operates from The Hague and has 15 judges who serve for nine years. Its effectiveness is limited by the veto power of the UN Security Council, and its judgments rely on a […]
International corporate law involves advising companies on regulations and laws in multiple countries, ensuring compliance with local laws, and negotiating with foreign partners, customers, or governments. Lawyers may also advise on functional matters such as advertising and represent clients in civil or criminal cases in foreign countries. International corporate law is a field of legal […]
International trade managers oversee trade negotiations and policies for companies or governments, requiring a degree in international business or relations and fluency in foreign languages. They cultivate overseas contacts, study foreign markets, and travel to major markets. Education includes logistics, finance, culture, and management techniques. An international trade manager is usually responsible for overseeing all […]
International trade poses greater risks than domestic trade due to differences in culture, language, laws, and economic and political factors. Exchange rate fluctuations, complex contracts, and unfamiliarity with foreign markets and legal systems are additional risks. Political risks include changes in government policies and expropriation of assets. A firm engaged in trade across international borders […]
International financial advisors provide expertise on investments, insurance, and financing options worldwide. They specialize in wealth management and have knowledge of global financial products. A college degree is required, and some firms prefer a Masters in Business Administration. Language skills and certification are also beneficial. An international financial advisor advises clients on investments, insurance development, […]
International trade logistics involves managing the entire supply chain to optimize procurement, transportation, storage, and distribution while reducing costs and maintaining efficiency. It also includes managing regulations, safety, and payment methods, and requires constant review and adaptation to changing conditions. Efficient supply chain management can reduce costs and prevent delays. Approaches to international trade logistics […]
International corporate financing involves managing assets for large companies across multiple nations. Cultural standards and national laws impact how it is conducted, and investors have different levels of influence in different countries. Financing is managed through local banking systems, and debt and inventory management aim to reduce costs and increase profits. Financial risk management is […]
The international product life cycle model tracks an industry’s evolution across borders and a firm’s marketing program. It combines economic principles with product lifecycle marketing and business models. The four elements are demand structure, production, international competition and marketing strategy, and the marketing strategy of the innovating company. The stages are introduction, growth, maturity, and […]
International consulting firms specialize in financial, IT, and management services. They require highly educated and dedicated employees who are willing to travel and work long hours. Consultants provide expertise to a wide range of businesses and industries, and success depends on reputation, client base, and staff. Profit margins vary, and turnover rates are high. There […]
National governments and central banks use monetary controls to influence the economy, with combined efforts referred to as international monetary policy. These policies affect trade and can lead to inflation or recession. The IMF can make recommendations and provide loans to distressed nations. The EU and other regional groups also make economic decisions. National governments […]
The International Stock Exchange (ISE) is an online options trading exchange based in New York City and is part of the world’s largest derivatives trading operation. It was founded in 2000 by executives from E*TRADE and the New York Stock Exchange and was acquired by Eurex in 2007. The ISE focuses on consolidating options trading […]
International procurement is the process of companies bidding for contracts for goods and services from around the world, resulting in lower costs, stimulating the global economy, and increasing the consumer base. Currency valuation and product specialization are key concepts in economics that contribute to the appeal of this type of procurement. In a global economy, […]
International background checks are used by employers to screen candidates for criminal charges and credit history. They are important for child welfare workers, police officers, and government officials. Companies may run these checks for candidates who have lived in multiple countries. Credit history may also be checked. Companies can hire external sources or do the […]
