International Business

As I mentioned, I was going to start sharing with everyone my weekly journal for my International Business class. I just finished typing this up and figured I would share it with everyone and give you a feel for what I am doing in this class. I thought this article was a great one to choose since it was in relation to the first chapter in my textbook. I used the Berkeley College Library to find some research information, which is very helpful. Enjoy!

Week 1: China Appeals U.S. win in WTO trade dispute
Source: http://www.msnbc.msn.com

China is upset with the United States win in the World Trade Organization’s (WTO) trade dispute. This dispute is circled around sale restrictions on U.S. music, films, and books in Asian markets. The restrictions in Asia are leaving exporters full of complaints since the large trade in China is being aided by policies that are unfair. These unfair policies include boosting sales of Chinese goods abroad and limiting the foreign products that enter the Chinese markets. Since China is typically breaking rules, the United States has the upper hand in this case, for which they can seek more open trade in China. The rule that is in play currently is that those who practice illegal trade practices will be hit with higher tariffs and other measures for acting illegally in the markets. This ruling has not been set just yet, but early next year it will be will enforced.
After conducting some research about the World Trade Organization disputes, I came across some interesting information. China has a multiple amount of complaints against them because of their illegal practices; therefore, their record is not exactly pristine. “China is charged with delinquency in its World Trade Organization (WTO) commitments.” (Gresser, Edward) In general, the year 2007 was busy for international business, as well as disputes that existed between China and the United States. “2007 also saw a remarkable escalation of WTO disputes between the U.S. and China.” (Bentes) The disputes that arise with the WTO include trade restrictions like the one that was occurring in the article I chose. From our text, I was also able to deeper analyze the WTO and their benefits which include:
• Helping free flow of trade
• Help negotiate the further opening of markets
• Settle trade disputes between members
In the case of the United States and China, their dispute needs to be solved by implementing a rule that will not allow illegal trade practices within these current or future markets.
There are many international business stories in the news, but when I came across this particular article pertaining to the WTO, I was intrigued to read it. Since chapter one mentioned the World Trade Organization, this article was of interest to me because of its importance in the international business world. When I was able to view a real life scenario, it brought about a better understanding about the World Trade Organization. The fact that these types of issues are still occurring, make it all the more interesting to read about. I am very interested in learning about the markets both internationally and locally since I am looking forward into working in the marketing industry.
From this article, I learned that the commitments countries such as China make need to be free of gaps and need to act legally in the international markets. It’s important that countries, who do not abide by the international business rules, be stopped and corrected before future damage is done. It’s a tough world out there and not everyone wants to act appropriately, so disputes will occur. The WTO, as I have learned, focuses on settling such disputes and opening the markets for trade that will generally bring along a free flow of trade in these future and present markets.


Week 1 is already done, hard to believe right?! And it's already October 3rd, which means 4 more weeks till Halloween!!! Have a great weekend!