{"id":185,"date":"2019-01-21T02:45:35","date_gmt":"2019-01-21T02:45:35","guid":{"rendered":"https:\/\/www.manufacturer.com\/news\/?p=185"},"modified":"2020-09-18T15:20:33","modified_gmt":"2020-09-18T15:20:33","slug":"everything-you-need-to-know-about-trade","status":"publish","type":"post","link":"https:\/\/www.manufacturer.com\/news\/everything-you-need-to-know-about-trade\/","title":{"rendered":"Everything you need to know about TRADE"},"content":{"rendered":"<p>In this article, we examine the world of trade and the complexities of trading and management of products and services:<\/p>\n<p>Helping you better understand your:<\/p>\n<ul>\n<li>Supply chain<\/li>\n<li>Sourcing<\/li>\n<li>Purchasing<\/li>\n<li>PLM (product lifecycle management)<\/li>\n<li>And the business of buying and selling of products<\/li>\n<\/ul>\n<p>Looking at the transactions, exploring why business is done between two companies, how the country is involved, the politics, and power dynamics.<\/p>\n<p>Every business, every person, and every country wants a financial gain and benefit; analyzing tariffs, quotas, duties, taxes, and profits to control the flow of goods.<\/p>\n<p>Examining the strengths, weaknesses, opportunities, and threats of select industries, markets, and transactions.<\/p>\n<h3><strong>Trade<\/strong><\/h3>\n<p>In essence, trade encompasses all transaction of products or services that are sold, transferred, or exchanged to the agent, wholesaler, brand, retailer, and\/or consumer.<\/p>\n<p>Discovering the geographical boundaries for particular products or services within the exporting country.<\/p>\n<p>Most developed countries control their imports and exports by managing their GDP (Gross Domestic Product) or GNP (Gross National Product) to determine their economic strength.<\/p>\n<p>Looking at how GDP encompasses the products produced within the country\u2019s boundaries (local scale) and GNP focuses on products produced by enterprises owned by residents of that country (international scale).<\/p>\n<p>Most countries require import\/export licenses to control the flow of products and services.\u00a0\u00a0I intend to dive deeper into understanding what affects trade between two countries.<\/p>\n<h3><strong>Currency manipulation\u00a0<\/strong><\/h3>\n<p>Some importing countries disagree with another country\u2019s control of their currency fluctuation for the benefit of purchasing goods from their country.<\/p>\n<p>The country receiving the products from the export country claims that the currency is devalued and being unfairly sold at lower prices.<\/p>\n<p>The fact is that the manipulating country reduces the demand for its own currency while increasing the demand for foreign currencies: this allows the exporting country to sell their products below market value which makes the importing country\u2019s domestic production less attractive.<\/p>\n<p>Currency manipulation affects foreign exchange reserves and monetary policies.<\/p>\n<p>Looking at analytics comparing monthly, quarterly, and bi-annual periods, you will start to discover irregularities in trade between two trading countries.<\/p>\n<h3><strong>Trade Practices<\/strong><\/h3>\n<p>Exploring the basis of the bilateral economic relationships and trade deficit comparisons of each country determines whether the relationship is unbalanced, unfair, and damaging.<\/p>\n<p>To determine if one side is being favored you can explore the GDP and GNP in respective countries.<\/p>\n<h3><strong>Unfair Trade Practices<\/strong><\/h3>\n<p>It is important to determine if the company\u2019s product or services were deceptive, unlawful, fraudulent, or injurious to the consumer?<\/p>\n<p>The current dispute between the USA and China stems from \u201cunfair trade practices\u201d; as a result, the USA has imposed punitive tariffs on goods being imported into the USA from China.<\/p>\n<p>In the interests of fairer trade practices, we need to take into considerations mutual respect, equality, and honesty but because of many complexities this becomes a challenge.<\/p>\n<p>There is a battle to understand and control the who, when, where, and how of what is being said and done.<\/p>\n<p>Proprietary information has been one challenge along the way as it is well known that many products are copied within emerging countries and possibly exported illegally around the globe.<\/p>\n<p>Products that are imported illegally steal the legitimate revenues, profits and tax dollars.<\/p>\n<p>Many countries, including China, are aware of this issue and have reduced their fraudulent practices within their country to bring clarity and integrity to the consumers and the marketplace.<\/p>\n<p>Another threat is the alleged cyber economic espionage against international firms. The lack of enforcement of intellectual property rights (IPR) laws is the major problem with mature economies.<\/p>\n<h3><strong>Dumping <\/strong><\/h3>\n<p>\u201cDumping\u201d occurs when one company exports a product at a price that is lower than the price in the importing country\u2019s domestic market.<\/p>\n<p>To prevent this issue, many countries have established an anti-dumping duty as a protectionist tariff that domestic government imposes on foreign imports that it believes are priced below fair market value.<\/p>\n<p>The tarrif is established as consumer protection from misleading or aggressive selling practices.<\/p>\n<h3><strong>The current state<\/strong><\/h3>\n<p>Today, we live in a volatile world surrounded by insecurity and doubt:<\/p>\n<ul>\n<li>Unstable governments<\/li>\n<li>Vast inequalities among population<\/li>\n<li>Terrorist organizations<\/li>\n<li>Mass security threats<\/li>\n<li>Technology replacing the workforce<\/li>\n<\/ul>\n<p>One of the major concerns expressed by the USA is the security concern derived from technology exports.<\/p>\n<p>Governments want to know what information is being collected, for what purposes, for whose benefit?\u00a0 And how does that jeopardize their country\u2019s stability?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article, we examine the world of trade and the complexities of trading and management of products and services: Helping you better understand your: Supply chain Sourcing Purchasing PLM (product lifecycle management) And the business of buying and selling of products Looking at the transactions, exploring why business is done between two companies, how [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":220,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[39],"class_list":["post-185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade-agreements","tag-trade"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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