lOMoARcPSD|22517024
Busi 604 dicussion 2 replies - International
Business
International Business (Liberty University)
lOMoARcPSD|22517024
Hey Minwoo, thank you for your elaborate discussion about international trading. I thoroughly
enjoyed reading your insight about this topic. I am so glad you mentioned how the COVID-19
pandemic took a toll on international trade. Personally, being in business I experienced how the
pandemic effected trade. Shipping prices for products that I ordered overseas increased by nearly
50%, shipping times were also delayed. According to Turnhout, et al., the COVID‐19 pandemic
had a major impact on the global economy, and current delays. The goal we have now is to
heighten the urgency and build back better sustainability, and well‐being (Turnhout, et al., 2021).
Turnhout, E., McElwee, P., Chiroleu, A. M., Clapp, J., Isenhour, C., Kelemen, E., Jackson, T.,
Miller, D. C., Rusch, G. M., Spangenberg, J. H., & Waldron, A. (2021). Enabling
transformative economic change in the post‐2020 biodiversity agenda. Conservation
Letters, 14(4), 1–8. https://doi.org/10.1111/conl.12805
Hey Rachel, thank you for your elaborate discussion about protectionism. I thoroughly enjoyed
reading your insight about this topic. When I Researched protectionism, I discovered,
protectionism is a set of policies aimed to protect domestic producers against foreign
competitors by imposing tariff (import taxes on foreign goods) and nontariff barriers (policies
that boost domestic exports) to trade (Muradyan, & Tutumlu, 2020). I agree that the effects of
inflation are present in most industries. More companies have been purchasing goods domestic
at a higher rate versus internationally due to delays. I agree that it would be difficult to
experience and enforce true protectionism without dire consequences.
Muradyan, O. Cs., & Tutumlu, A., PhD. (2020). Protectionism. Salem Press Encyclopedia.
Hey Kimard, thank you for your elaborate discussion about World Trade Organization (WTO). I
thoroughly enjoyed reading your insight about this topic. The World Trade Organization’s
purpose is to improve the economic standing of its members. The United States and other
member states have seen increased global trade, greater access to cheaper goods, and better
international relations with one another. However, the WTO is somewhat controversial, because
many nations see the organization as catering to the interests of large countries, such as the
United States, while ignoring others (Titanski, 2020). I totally agree with you, being a member of
the World Trade Organization is beneficial to the economy and to your country.
Titanski, J. L. (2020). World Trade Organization. Salem Press Encyclopedia.
