International Business (international trade) the title of the research Dissertation

International Business (international trade) the title of the research is the impact of Free trade agreement on New Zealand Econ - Dissertation Example 24 4 Findings & Conclusion 26 5 References 29 6 List of Tables and Graphs 32 Abstract Many past empirical evidences had found that FTA (Free Trade Agreements) is likely to boost bilateral trade flows, to assist to attain economic growth and to create new employment openings driven by export directed development in the economy of partner nations. In most of the FTAs, the advantages derived due to FTAs are likely to overshadow the cost involved especially in the long run. FTAs will likely to result in tariff minimisation in the majority of the products traded between the nations. This research paper will endeavour to examine whether FTAs entered by New Zealand (NZ) with Australia , China , and ASEAN has helped the NZ economy to grow further or not and whether NZ derived much benefits from such FTAs like employment creation , technology transfer , increased standard of living , simplification of customs procedures , trade expansion and overall economic growth by investigating into the e arlier empirical evidence available on the subject and statistics offered by the respective governments. (â€Å"Ali, 2011, p.1†). ... und a buyer for his product in Australia, and the Australian importer has to pay a tariff of 20% meaning for $100 product imported from NZ , an Australian has to pay $120 ( cost of material + tariff) . However, under NZ and Australia FTA agreement, these products can enter into Australia without tariff and vice-versa. The preferential tariff rates under FTA make NZ products cheaper for Australians. The elimination of tariff offers the NZ, a competitive benefit over other nations that do not have FTA with Australia. Thus, FTAs make NZ producers and exporters more competitive both in abroad and domestically. (â€Å"Renda, 2013, p.1†). A FTA has the following advantages: Safeguards NZ investments in the partner’s nation Offer new market access for NZ manufacturers and consumers Offer market access to remanufactured products Trade-in-services will get a fillip Offers advantages to medium and small exporters of both the nation Enhances custom facilitation (Garnaut, 2002, p.1 25). If we analyse the economic growth rates of nations that have FTAs with the developing nations, as indicated by GDP, we can find that in many cases, it has surpassed those of advanced economies. NZ companies exporting to Australia enjoy double benefits with ever growing consumer bases and low tariff rates. In spite of recent global economic crisis, FTA has facilitated many small nations to sustain the growth and to maintain the same in the coming years also whereas advanced economies are in turmoil. (Barry, 2012, p1). 1-2 History of Free Trade Agreements As per Dent (2007), the regionalised and imperial trade arrangements that existed between Middle East, China, Europe and India have given birth to the international trade systems. The first ever world trade system had the origin from the gradual

Dimensions of national culture Essay Example | Topics and Well Written Essays - 2000 words

Dimensions of national culture - Essay Example As human beings evolve so does their culture (Marcus, 1995). People are always striving to improve their state of living for the better. This is done by improving their clothing to fit in better with the weather conditions, while at the same time coping with the need to make them fashionable and easy to keep to hygienically clean. Music, theatre, fine arts, language and literature are developed in order to add some color and entertainment in everyday living, as well as improve on communication. Sports and educational syllabuses are also developed for entertainment and improvement of skills. All these facets of life among others keep on changing from one form the other thus enriching culture (Marcus, 1995). All of these developments are recorded for future references in different symbols including writing, drawings, cave paintings or passed from one person to another orally. As this culture is passed on it is modified through innovation, borrowing from others. Elements like language t herefore constantly improve and diversify as time goes by (Cohen, 1985). This paper sets out to analyze the development of national culture and to explain why people within a certain nationality or region typically develop traits that are unique to themselves. The paper looks at how different cultural backgrounds affect persons working within an organization. It also explains the effects impede or support the realizations of the objectives of the said organization. Elements of Organizational Culture Every nation is renowned for certain things. For instance the vast majority of people of Britain enjoy association football [also known as soccer] whose rules were founded in that country in 1863; very much. This is different when compared to Americans who prefer their own version of football which is closer to the Rugby that is also loved a lot in Britain (Maccambridge, 2004). This same case applies to organizations. According to Hofstede (1980), national culture directly influences org anizational culture. Organizations exist within countries and are therefore influenced by the prevailing culture within them. In his study of national cultural influences he identified four dimensions of culture. These he classified as power distance, uncertainty avoidance, collectivism vs individualism and masculinity vs femininity (Hofstede, 1980). The first dimension, power distance, refers to the difference of power allowed by the society between the highest and lowest echelons of power. A high power difference score means that there is a great difference between the power wielded and the privileges enjoyed by people high ranking individuals and their lower ranking counterparts within the organization (Schein, 2005). A low score on the other hand means that everybody in the organization enjoys almost equal rights to anybody else (Schein, 2005). The measure of power distance in different nationalities revealed that countries such as Australia, Austria, Denmark and Israel had some of the lowest power distance levels while sub-Saharan African and Malaysia among others had the highest (Hofstede, 1980). The second one uncertainty avoidance refers to extent of anxiety about the unknown in a society. In cultures where there is strong uncertainty avoidance, people prefer operating with explicit rules and laws that govern labor and social relations. Employees in this system tend to keep the same job for long since they feel less