International Trade Research Paper Example | Topics and Well Written Essays - 1000 words

International Trade - Research Paper Example To properly project the significance of international trade, this essay therefore has three goals: 1) to examine the aims and rationale of international trade through the examples of China and India, and lastly, 2) to compare the effects of international trade on developed and developing countries. Developed and developing countries, however, have different goals for engaging in international trade. The former, in the negative sense, aims to further their own advantage or, positively, to help the economic struggles of the latter. For their part, developing countries aim to achieve the same level of development and prosperity as the developed ones. A change from status—developing to newly developed—may also change such trade goals. Generally though, trading is for survival or for the maintenance of countries’ economies. Countries exchange goods based on resources that are abundant in one and resources that are scarce in the other. This has also been called by David Ricardo as â€Å"comparative advantage† and is one of the rationales for the existence of trade. Nation-states export goods that are produced in large quantities within the national economy, while they import goods that are either scarce or produced in small quantities in domestic markets (Husted & Melvin, 2000, pp.60-61). Regardless of the nation’s capacity, â€Å"profitability of production† is still achievable so long as there is a "comparative advantage." Although absolute advantages in the goods they produce may be absent, all economies that are operated by competitive markets have comparative advantages. Ricardo further proposes that â€Å"no country can long import, unless it also exports, or can long export unless it also imports" (as cited in Blatt, 2004). He confirms that there are benefits to be had in the import-export of goods between and among trading nations. Hence, engaging in both is â€Å"equally essential† so as to

The Values of Wal-Mart Research Paper Example | Topics and Well Written Essays - 500 words

The Values of Wal-Mart - Research Paper Example From this paper it is clear that its competitive advantages are not only its low-cost products, but including its high-value quality products, and sophisticated strategic management and control. These are what made Wal-Mart successful in the United States. After all, where do an individual can find products with substantially low prices, yet with high quality as well? The ultimate answer is at Wal-Mart itself.   Wal-Mart should replicate its original business model in China for the following reasons. China is a highly-dense and populated country. There is a great opportunity for Wal-Mart to serve more than 50,000 people in a certain location. Wal-Mart can eventually reach out to those people outside the center of a certain town or those not readily reach by advanced basic services. In this way, Wal-Mart could try to penetrate its services by reaching out customers who could not afford to go to the center of the town. Secondly, the low-cost strategy for its products is suitable in C hina where there are many competitors trying to be a cut above the other on the basis of price. Not only that, in China the labor cost is substantially low compared in the United States, so there is another great opportunity for Wal-Mart to replicate more than just what it had started into its other international counterpart. Finally, what it had already started in the international setting and applying into China is possible because the said country is home to various investors who could create what is essential for the business, exposing customers to a different level of understanding business.  In order for Wal-Mart to go forward is to improve its way of handling its human resource. Especially in its international expansion, what is essential is the thought that it could create a unified cultural approach within the entire organization.