chapter 9- international law powerpoint presentation
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Chapter 9
International Law
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Quotes of the Day
What affects men sharply about a foreign nation
is not so much finding or not finding familiar
things; it is rather not finding them in the familiar
place.G.K Chesterton, British Author
The greatest meliorator of the world is selfish,huckstering trade.Ralph Waldo Emerson,
American Philosopher and Poet
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International Trade
In 1992, the United States exported $448 billionworth of goods and services.
In 1997, just five years later, that figure hadswelled to over $930 billion.
That is a 110% increase in five years!
Now, the United States exports more than $800billion worth of goods and an additional $330
billion worth of services.
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Multinational Enterprises(MNE)
Many MNEs have more available cash than themajority of nations.
The power represented in this cash means thatinternational regulations are vital.
A multinational enterprise is a corporation that doesbusiness in several countries simultaneously.
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Tariffs A duty (tax) imposed on goods entering a country.
Duties for Dumping and Subsidizing Dumping is selling goods in a foreign market for less
than normal price to drive out local competition.
Trade Regulation--Import Controls
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Quotas A quota is a limit on the quantity of a
particular good that may enter a nation.
Quotas may grow a certain percentage peryear, or stay the same.
Trade Regulation - Import Controls/Nontariff Barriers
Import Ban
An import ban means that certain goods areflatly prohibited.
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General Agreement on Tariffsand Trade (GATT)
History of GATT GATT is an international treaty which dates
back to the 1940s.
Even with the perceived benefits, opponentsclaim that the US will not be able to competewith countries that have under-paid workers.
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GATT -- (contd)
World Trade Organization The WTO is an international court.
Issues raised by and addressed byGATT
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Regional Agreements
The European Union (EU) 25 countries ofEurope
Sets standards for tariffs, dumping, subsidies,antitrust, and transportation.
North American Free Trade Agreement
(NAFTA) -- Mexico, Canada, USA Eliminates almost all trade barriers among the
three member nations.
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Regional Agreements
Association of South-East Asian Nations(ASEAN) -- 10 Asian countries
Mercosur -- 4 South American countries
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International Sales Agreement
Direct Sales -- domestic manufacturer toforeign store
The United Nations Convention on Contracts for theInternational Sale of Goods (CISG) governs contractsbetween two parties from two signatory countries,unless they specifically opt out.
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International Sales Agreement
Indirect Sales -- through a distributor inthe foreign country
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Antitrust Law
European Antitrust Law, from the Treaty ofRome, outlaws any agreement, contract,
or discussion that distorts competitionwithin EU countries.
American Antitrust Law, from the Sherman
Act, controls anticompetitive conduct thatharms the American market.
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International SalesAgreement
How conflicts are handled
Licensing -- giving a foreign companyrights to produce your product
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Investing Abroad
Repatriation of Profits -- some countriesallow profits made by foreign investors tobe taken back home; others do not.
Expropriation -- in some cases, private
businesses can be bought (for a fair price)by the government without consent.
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Investing Abroad (contd)
Most nations respect the principle of sovereignimmunity in which courts of one nation lack the
jurisdiction (power) to hear suits againstforeign governments.
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Investing Abroad (contd)
Act of State Doctrine
Requires an American court to abstain fromany case in which a court order wouldinterfere with the ability of the President orCongress to conduct foreign affairs.
Investment insurance is often a wise businessexpenditure when investing abroad.
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Investing Abroad (contd)
The Organization for EconomicCooperation and Development (OECD)
produced a Convention of CombatingBribery of Foreign Public Officials inInternational Business Transactions.
About 36 of the worlds largest tradingnations have ratified the Convention.
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The world is one economy, with every
country linked in countless financial waysto almost every other. To conduct business
today is very often to engage in
international commerce, and that makes itimportant to understand the basics of
international law.
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The End
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