Trade Interests Research Articles

영남지방 초기 국의 등장 배경과 사로국 구조

Through the long-distance trade network and ritual structures of base settlements that were intensively developed in the Yeongnam region in the 2nd century BC, the background of the establishment of the early politics and the method of solidarity were examined. Long-distance trade beyond the Yeongnam region is concentrated in the 2nd century BC, and the bases where foreign trade is active overlap with regions(mainly Daegu, Gyeongsan, and Gyeongju) found in the early days of the clustering of wooden tombs. In some regions, politics that internally united regional units appeared in order to form a socio- economic coalition suitable for logistics distribution, redistribution, cost reduction, and information solidarity amid intensively developed foreign trade in the 2nd century BC. Thus, it is inferred that the clustering of wooden tombs appeared from the time when these early politics reached villages and townships as local political bodies to maintain active foreign trade, iron production, and distribution. In this situation, by linking topographic conditions, traffic routes and literature records, and archaeological data, focusing on Saro-guk, the composition of the euprak and the structure of the country were explained. Around the middle of the 2nd century BC, it is expected that the early Saroguk was established, and it is interpreted that the 6 villages, symbolized as major towns and villages, were united through the conference. Early Saroguk is a device that binds and maintains local communities while showing various forms for each town and village, and the phenomenon of establishing altar-style stone tombs, high- altitude enclosure, standing-ritual structures, and early wooden tombs by base is similar. In addition, the title of ChaChawoong, which was mentioned in early literature records, also weighed on the ideological and religious power base. Given the ritual structure of the settlement base and the power base of the early ruler, it was difficult to sustain the national structure only by pursuing the interests of foreign trade, and it is assumed that even by transforming the traditionally important megalithic monuments and high-altitude enclosure, it led to community cohesion.

WTO International Trade Dispute Settlement System and Benefits for Indonesia

International trade is one of the essential pillars of the global economy. International trade can improve people's welfare through increased productivity, diversified production, and lower prices of goods and services. In international trade, it is not uncommon for disputes to occur between business actors from different countries. This study examines the international trade dispute settlement system in the World Trade Organization (WTO) and its benefits for Indonesia. This research uses normative legal research methods. The data collection technique used in this research is a literature study. The data analysis technique used in this research is qualitative analysis. The results show that the dispute settlement mechanism through the WTO is part of the WTO adjudication function as a world trade organization. The stages of dispute settlement involve consultations, panel formation, panel procedures, and ratification of panel reports, judicial review, and implementation. For Indonesia, participation in the WTO dispute settlement system brings several benefits, such as increasing legal certainty in international trade, protecting Indonesia's trade interests, and increasing the competitiveness of Indonesian products in the international market.

Помощь Украине со стороны европейских государств: пример Польши и Чехии

The purpose of the article is to explore main forms of assistance offered by Poland and the Czech Republic to Ukraine. Firstly, the paper discusses the main lines of action taken by Polish government and society in support of Ukraine. It is assumed that direct involvement of in helping Kyiv was due to various political, strategic, economic and defensive factors. However, dynamics of aid allocation was still depending on the international ambitions of Polish government on the one hand and on the public sentiments towards Ukrainian refugees – on the other. Despite declarations of Polish-Ukrainian strategic partnership, aid provided to Kyiv tends to increasingly serve Poland’s policy goals and trade interests. Secondly, the development of Czech-Ukrainian relations in political and socio-economic spheres is assessed. The conclusion is made about the transformation of foreign trade relations between the Czech Republic and Ukraine after the beginning of Russia’s Special military operation (SMO). The main problems faced by Czechia in connection with the influx of Ukrainian refugees as well as the reaction of Czech society to this are considered. There is a certain fatigue in the country today because of the “Ukrainian issue”, which is indicative against the background of active support at the beginning of 2022. Special attention is paid to the comprehensive assistance provided by Prague to Kyiv. The Czech Republic stays an active donor of military aid to Ukraine, which entails a significant financial burden. The Czech side seeks to partially “compensate” such expenses by expanding economic cooperation, including plans for active participation in the further reconstruction of Ukraine. The factors influencing the expansion of interaction between the two countries are identified.

Determinants of Investors' Awareness of Online Trading in the Nepal Stock Market: An Empirical Assessment Using Binary Logit Model

Background: Online trading is becoming a prominent method of conducting stock exchanges through web platforms. While many regions worldwide have embraced online trading, its introduction in Nepal is relatively recent. The Nepalese stock market is considerably smaller than its neighboring nations, highlighting the significance of capital in a country's economic progress.
 Objective: The main objective of this paper is to investigate the factors that influence investor awareness of online trading within the Nepal Stock Exchange. The study focuses on investors who engage in stock market activities online, examining the variables of better online trading (dependent variable), facility in online trading, and investors' intention to invest (independent variables) in the context of online trading in Nepal.
 Methods: To achieve this objective, the study employed a non-probability convenience sampling technique, selecting 403 samples from the population of online investors. The research process incorporated three key instruments: expert opinions, structured questionnaires for surveys, and observational data collection.
 Results: The study's findings reveal that the majority of investors (83.4%) in Nepal possess a comprehensive awareness of online trading. Notably, the primary source of this awareness is brokers, accounting for 58% of investor knowledge dissemination.
 Conclusion: This research underscores the growing awareness of online trading within the Nepal stock exchange. Although Nepal's stock market is relatively diminutive compared to neighbouring nations, brokers play a vital role in educating investors about online trading. As investor interest in online trading rises, stakeholders and regulators must adapt to this evolving financial landscape.
 Implications: Understanding the factors that drive awareness and participation in online trading is critical for the development and growth of the financial sector in Nepal. Stakeholders must enhance educational efforts and facilitate investor-friendly policies further to bolster the online trading ecosystem in the country.
 Keywords: Online trading, Stock market, NEPSE, SEBON, Nepal
 JEL Classification: G24; G32

Study on the Development Prospects of China-Japan Trade in the Context of Global Value Chains

Abstract This paper proposes a value-added trade measurement model after a specific analysis of the extent of China and Japan’s participation in GVCs, the mode of participation and the status of division of labor, and the characteristics of the participation structure. Combined with the ratio of value-added to total exports, China is compared with major trading countries to study China’s level of value-added in GVCs, trade characteristics, and the proportion of China’s industry-wide development. Combined with the WIOD data, based on the model proposed in this paper, the bilateral trade interests of China and Japan, the bilateral export value, and the trade interest rate of both sides are measured from 2000 to 2014. The classification method of HS commodity code is used to extract the trade data of important time nodes between China and Japan and analyze the development of the structure of commodity trade between China and Japan. It measured that in 2014, the trade interest rate of China to Japan was 81.95%, and the export of 172.911 billion dollars contained 141.707 billion dollars of trade interest. Japan’s trade benefit rate to China was 73.94%, with $95.615 billion of trade benefits included in $129.314 billion of exports. It shows that as of 2014, China has replaced Japan in the bilateral trade between China and Japan to occupy a relatively favorable position, indicating that the international division of labor between China and Japan has gradually shifted from a vertical division of labor to a horizontal division of labor.

China's investment in EU member-states’ seaports

The article focuses on the Chinese port investment in the EU countries and analyses the motivation and current situation behind it from the Chinese perspective as well as explains the European perception of investment and its future prospect. The study is based on the Chinese and European official documents and Chinese scholars' articles. In recent years, the number of Chinese port investment projects in European countries has been increasing, and the role of ports as hubs in China-EU economic and trade cooperation has become more prominent. However, the negative perception of Chinese port investment in the EU also gradually increases. The EU is concerned that Chinese port investments will challenge the market dominance of European companies in the port shipping sector and cause political division within the EU, even with far-reaching geopolitical implications and security problems. Chinese academics generally believe that China's investment in EU ports is purely a matter of its own economic and trade interests rather than security considerations, and advocate that China and EU should actively promote port cooperation, follow the path of spatial integration and integration of interests, and build a multi-party community of interests for China-EU port cooperation, and require Europe to abandon the direct influence of external factors and commit to fostering a positive interaction between China and EU. It is necessary for Europe to work towards an effective cooperation between China and the EU on economic development issues and political security issues instead of creating a malicious confrontation.

Indonesian Foreign Political Analysis of Legal Protection of MSME Products Pancasila Economic Perspective

Indonesia's foreign policy should provide maximum protection to domestic interests, including the MSME sector. MSMEs as the spearhead of the people's economy need to be protected optimally in global trade competition. Indonesia's international trade competition is often defeated by global interests which are suspected of carrying out practices prohibited by international agreements (WTO), so that normally they are sometimes constrained by these agreements. A complex approach is needed to provide a comprehensive view, in this case viewed through the Pancasila economy to ensure and determine the size of domestic interests, so that it has strong arguments in protecting Indonesia's trade interests. This study uses a normative legal method that specifically examines matters relating to legal documents through statutory, conceptual and case approaches. This research has resulted that legal protection has actually been provided by the state through several laws and regulations, but sometimes the arguments for state or domestic interests have not been fulfilled. Foreign policy based on Pancasila as the foundation of the state illustrates that a populist economic system is based on kinship and people's sovereignty to support the improvement of the populist economy.

Overview of Regulations on Cross Border Data Flow

The high importance and immense power of data, coupled with a lack of consensus on the definition of this term, have led to multiple challenges in this field. Data protection legislation can be traced back to the Enlightenment era, which explains why the EU has always regarded personal data protection as a fundamental human right. As the third generation of personal information protection legislation, GDPR not only expands the extraterritorial application effectiveness, but also strengthens the administrative sanctions function of DPA. The EU has considered commitments regarding cross-border data flows in recent trade agreement negotiations, indicating a trend towards repositioning its considerations between data protection and trade interests. The primary issue facing the regulation of cross-border data flow under the WTO framework is to clarify the applicability of GATS commitments to digital trade and cross-border data flow. At the FTA level, few trade agreements explicitly address the issue of data localization requirements. For the first time, CPTPP sought to explicitly restrict the use of data localization measures, with the exception of "legitimate public policy objectives", and this template was subsequently followed by FTA. In response to the regulation of cross-border data flow in China, scholars have put forward their own opinions from different perspectives, from the objects of learning and reference to specific suggestions.

Implications Increase of Protectionism Between USA and China for International Business

The main aim of this paper is presentation the implications increase of protectionism between the United States and China on international business. The main objective of the research task is to give a comprehensive analysis of current trends in foreign trade theory and policy and in particularly the models of foreign trade policy, trade interests indicated by export orientation and import sensitivity, protectionist pressures in different political system, the level of protectionist pressures, new tendencies in international business, reasons for the USA to implement tariff sanctions. China will be significantly hurt by tariff trade war in all indicators, including welfare, gross domestic product (GDP), manufacturing employment and trade. However, it is pointed out that although there will be definite impacts on China, the costs should be maintainable and will not severely damage the Chinese economy. In regard to the United States, the simulation produced results that described, the US will gain on welfare, GDP and non-manufacturing production, but hurt employment and trade.

The impact of global value chain embedding on the upgrading of China’s manufacturing industry

In the current international trade characterized by global value chains (GVCs), to improve the trade interests of China’s manufacturing industry and change the unfavorable situation of “big but not strong,” industrial upgrading is an important issue that needs to be solved urgently. Based on the analysis of the impact of embedding in GVCs on the acquisition of trade benefits, the paper empirically tests the impact of embedding GVCs on manufacture upgrading by using industry segmentation data of China’s manufacturing industry from the year 2000 to 2014 in the world input–output database. The research shows that 1) from 2000 to 2014, forward and backward participation increased from 11.2% and 15.2% to 14.6% and 15.9%, respectively; China’s manufacturing industry mainly participates in the GVC in a backward way, which significantly improves trade interests; 2) both forward participation and backward participation in the GVC are conducive to the increase of trade benefits and are positive at the 5% level, which has a significant driving effect on the upgrading of the manufacturing industry; and 3) heterogeneity testing shows that capital-intensive, technology-intensive, and high-tech industries gain significant trade benefits, and embedding GVCs is more conducive to upgrading. Therefore, integrating into the GVC at a higher level is the direction to promote the upgrading of China’s manufacturing industry.

Four Years of Goods and Services Tax in India: Road Ahead

The ideology behind GST was to reduce the multiplicity of existing indirect taxes and implement a uniform taxation structure across the nation. A perfect GST would have been wherein the GSTs are taxed at a single tax rate, subject to minimal or no exceptions. However, for a country like India, a tiered tax rate structure becomes inevitable to take into account the larger social agenda. GST is in the interest of trade and industry as it would do away with multiplicity of taxes and their cascading impacts. It will lead to the creation of a unified market for facilitating seamless movement of goods across the states. By subsuming a large number of Central and State taxes into a single tax, it would mitigate cascading effects or double taxation in a major way and pave the way for a national common market. However, we need to keep in mind that taxation policy has to be transparent, predictable and inclusive. This alone can maximise the favourable impact of GST on investment and growth. There is a strong case for phasing out a lot of exemptions. The GST council should seriously work on strengthening the GST system.

It’s time African Countries utilized the WTO, Dispute Settlement Understanding more to leverage their International Trade Interests

The paper deconstructs the law relating to WTO, Dispute Settlement Mechanisms (DSMs) to establish why African Countries have failed to harness it to leverage their international trade Interests. There is compelling evidence to affirm that many African Countries are marginalized in international trade because many odds including failure to harness the WTO Dispute Settlement are stacked against them. The ability of African Countries in international trade has been saddled by many factors that characterize Less Developed Countries. The Uruguay Round (1986-94) introduced many changes such as the reduced timelines (from when disputes are initiated to when they are disposed of), admission of third parties to represent poor Countries which may be deficient in requisite capacity to handle the complexity of the World trade disputes mechanisms. This paper posits that the marginalization of African Countries in the World trade system is partly caused by inherent factors that saddle them as Less Developed Economies. We adopted hybrid doctrinal and qualitative methodological approaches by way of reviewing WTO relevant Agreements, existing literature and evaluating evidence in the context of objectives for writing the paper. The findings corroborate that African Countries have been sidelined in international trade system because they have not utilized the Dispute Settlement Understanding Agreement to leverage their international trade interest well.

Europeans in Japan: from trade to knowledge

The Dutch trading posts, first at Hirado and later at Deshima in northwest Kyushu, existed from 1609 to 1855. These almost two and a half centuries can be roughly divided in two parts. In the XVII th and the beginning of the XVIII th century the relations between the Dutch and the Japanese were marked by the mutual interest in trade and by the readiness of the Dutch to unconditionally obey the strict rules of their presence in Japan. The second half of Dutch presence at Desima is characterized by decline of trade and increase of mutual interest. Trade began to decline after the Shogunate prohibited the export of gold and silver in 1668. In 1743 for the first time trade with Japan became unprofitable. In 1799 the Dutch East India Company (VOC) ceased to exist. This was due both to the loss of its markets in Persia, India, and Europe and to increased competition with England and France for colonial markets. Another reason for the company's bankruptcy was the managerial errors of its management - the company was paying dividends to shareholders in Holland that exceeded its profits. Despite the economic losses, both sides were in no hurry to end the relationship. For Japan, Deshima remained a small window to Europe, through which they learned about the outside world and its scientific and technological achievements. The emergence of qualified translators from the Dutch language in Japan coincided with the Shogunate's interest in the development of science, opened up a source of knowledge for the country and the emergence of a new branch of science, Rangaku, which means «Dutch science». The Netherlands, maintaining its trading post in Japan, proceeded not only from the desire to maintain its status as a global empire, but also got a chance to study and appreciate the rather unique intellectual and cultural potential of the Japanese, becoming a unique source of knowledge about this country for Europe. Last 15 years of Tokugawa period is called Bakumatsu (what means the «end of Tokugawa period»), which was followed by Meiji restoration, and development of intensive contacts between Europe and Japan.

Tobolsk and Irbit Fair in 18<sup>th</sup> Сentury

The process of developing economic relations between Irbit and Tobolsk in the 18th century is discussed in the article. The authors come to the conclusion that the mutual trade interests realized at the Irbit Fair played a system-forming role in the process of folding and strengthening the administrative and social ties between these settlements. The process of formation of trade relations has been studied in detail. Its main content was a long way from competition to mutually beneficial cooperation between cities. An analysis of the decrees of the Tobolsk Ecclesiastical Consistory of the 18th century, as well as the generalization and systematization of the results of a study in the field of the fair trading development on the territory of the Irbit settlement and the Tobolsk province in the middle of the 17th — 18th centuries, made it possible to determine the influence of the Ural shopping center on the economy of the ancient capital of Siberia. The most common goods of the Siberian merchants sold at the Irbit Fair in the 18th century have been identified. In the course of studying the reporting and financial documentation and office materials, it was concluded that church goods and red wine were in special demand, which were later purchased for the Tobolsk clergy in large quantities on the basis of a collective order from different settlements of the Tobolsk province. It is noted that during the period under review, the Tobolsk province provided administrative assistance to the Irbitskaya Sloboda in matters of ensuring “peace” at the fair. The authors of the article show that an important result of the close mutually beneficial cooperation between the Irbitskaya Sloboda and the Tobolsk province was the development of economic ties both within the Russian Empire and beyond its borders.

The Emergence of Maritime Polity in Goa (Tenth Century to Fifteenth Century CE)

Scholars, who studied the nature of the Goa Kadamba polity, did not comprehend the fact that the Goa Kadambas exhibited the features of not only coastal polity but also maritime polity. At the same time, we accept the contention that the Shilaharas represented coastal polity while it lacked the features of a maritime polity. We support our argument by using the inscriptional data and foreign travelogue accounts, which exhibit the attempt of the Goa Kadambas to protect their maritime trade interest through their alliance with the Arab traders and maintaining a navy.

Trading Digitalization: Legal Awareness in the Disruption Era

The digitalization of trading is developing rapidly, but legal awareness has not been well developed. Although digital trading is fairly new in the world of economics in this country, it has been able to attract the attention of many people, especially business people, to become traders. Digital trading refers to trading activities using applications on smartphones or trading software commonly called trading robots. But unfortunately, the rise of digital trading activities is not accompanied by regulations that guarantee the safety of novice traders. Together with the inhabitants of Pekalongan's ignorance of the rules and laws pertaining to trading activities on the capital market. The purpose of this study is to examine the factors that prevent Pekalongan citizens from being aware of the legal implications of digital trading and know the implications of the lack of legal awareness of the people of Pekalongan regarding digital trading. This study employs both statutory and conceptual approaches and is grounded in empirical legal research. Techniques for descriptive qualitative data analysis. The population of Pekalongan served as the sample for this study, which used a random sampling technique. The findings of this study indicate that low literacy rates and a lack of interest in commodities trade are the main causes of the lack of legal awareness among Pekalongan residents (trading). The consequences of the people of Pekalongan's lack of legal awareness with regard to digital trading are: 1) They lack legal protection in transactions involving digital trading, and 2) They are vulnerable to fraud and losses in such transactions.

Stakeholders’ participation at the IMO marine environmental protection committee

This paper analyses the determinants of participation of stakeholders in Marine Environmental Protection Committee (MEPC) of the International Maritime Organization using information on 2669 proposals to 28 MEPC meetings (2002–2019). Our statistical analysis stresses that proposals were submitted by 117 different Members States and by 75 Intergovernmental and Non-Governmental Organizations. Proposals from Member States are by rich countries, with a vested interest in international trade and with a high political accountability. Countries that are both vulnerable to climate change and have less adaptive capacity to cope with climate change impacts are less active, unless they are large ownership countries. Out of the 15 Intergovernmental and 60 Non-Governmental Organizations that submitted proposals at Marine Environmental Protection Committee, shipowners’ interests (40%) and shipping-related associations (27%) represent the majority of all Intergovernmental and Non-Governmental Organization submissions. Finally, when Member States cooperate with Non-Governmental Organizations (4% of all proposals), they tend to collaborate with shipowners’ interest associations. Our findings confirm the large participation of a handful of countries in the first stage of the decision-making process at International Maritime Organization, while highlighting the lack of diversity in the profile of participants. International Maritime Organization should encourage a wider participation of vulnerable countries with less adaptive capacity to cope with climate change impacts and Non-Governmental Organizations to counterbalance the strong participation of large shipping nations and industry representatives.

Modern Challenges of Economic Cooperation between the Republic of Korea and the United States

For the past 20 years, South Korea has successfully balanced between its main trading partners, the US and China. However, with the new president’s accession to power in March 2022, the Republic of Korea has become more and more committed to the US strategic alliance, while not losing interest in trade with China. Washington seeks to use various economic instruments to get the maximum benefit from the alliance with Seoul. The declared areas of strategic partnership within the framework of the US-South Korea alliance are facing a number of challenges provoked by the US protectionist policy and Washington's desire to maintain influence in key areas. The Republic of Korea is trying to secure comfortable conditions for cooperation, but at the same time, it is gradually adapting to new American requirements. South Korea, like the United States, is striving for leadership in the high-tech market and is currently competing rather than working as a team. Thus, in the future, with continued pressure from Washington, companies in the Republic of Korea may lose their competitive advantages in world markets, and even become completely dependent on the United States. These tendencies lead to the strengthening of the opinion in South Korean society that deep economic integration with America may not be in the national interests of the Republic of Korea. In the article, the author analyzes the existing challenges in the economic relations between the Republic of Korea and the United States in 2022. In addition, challenges are predicted that can have a greater impact on US-South Korean foreign trade relations in the foreseeable future.

Utjecaj globalnih, regionalnih i kontinentalnih međunarodnih trgovinskih organizacija na ekonomiju i razvoj država

International and regional trade organizations have a significant impact on the economy and development of their member countries. Such organizations promote free trade and strengthen trade relationships between members, which can lead to economic growth, improved competitiveness, and job creation. International trade organizations, such as the World Trade Organization (WTO), allow members to resolve trade disputes, protect their trade interests, and strengthen trade rules. This can result in greater stability and predictability in trade relationships between members, ultimately driving economic growth. Regional trade organizations, such as the European Union, North American Free Trade Agreement (NAFTA), or ASEAN, also have a positive impact on the economy and development. They enable members to enter into trade agreements and strengthen trade relationships between members, leading to increased trade exchange and economic growth. However, trade organizations also have negative impacts, such as trade restrictions between members and the strengthening of market dominance by dominant members. It is therefore important to regularly monitor and adjust trade organizations to ensure that their impact on the economy and development is as positive as possible.

Declining Trade Interest in Indian Commodity Derivatives: A survey-based study on Cardamom Futures Contract

Declining Trade Interest in Indian Commodity Derivatives: A survey-based study on Cardamom Futures Contract