Modern Trade Research Articles

Trade Law and Supply Chain Regulation in a Post-COVID World

COVID-19 hit as the world was undergoing the most significant upheaval in the international trade regime since at least the creation of the World Trade Organization (WTO) in 1995. The pandemic has given urgency to a preexisting demand in the United States, Europe, and elsewhere for the localization of supply chains. When the crisis hit, many developed countries realized that their supply chains for critical medical supplies and pharmaceuticals were concentrated in China. When the pandemic temporarily halted production in China, developed countries faced significant shortages of medical supplies. As a result, approximately eighty nations restricted the export of such products. This Article argues that modern trade agreements overly constrain the ability of states to regulate supply chains for critical products such as medical supplies. I make two primary points. First, critics of reshoring have argued that further trade liberalization is the best guarantee against supply chain risks. To the contrary, I argue that modern free trade agreements (FTAs), the primary vehicle through which trade liberalization has proceeded since 1995, do little to encourage the diversification of supply chains and in some cases actually exacerbate supply chain risks, especially through loose rules of origin. Second, I argue that WTO rules constrain preventative regulation of supply chain risks designed to prevent a crisis, while providing exceptions for aggressive action only in the face of a crisis. WTO members are thus put to a choice. They can limit their attempts to preventatively regulate supply chain risks, waiting until a crisis occurs, or they can flout WTO rules. The former option risks more supply chain crises, while the latter option risks further undermining support for and adherence to the multilateral trading system. In this sense, trade law finds itself at a juncture similar to that faced by rules on the use of force two decades ago. Both sets of rules contain limited exceptions for preemptive action in the face of imminent threats. Just as nations like the United States felt that the imminence requirement did not give them enough flexibility to respond to modern threats in the use of force context, so too will nations chafe at the narrow exceptions for crisis-based supply chain regulation in the trade context.

Creative economy: foreign experience

The article deals with the topic of the creative economy and its role in modern world trade. The study analyzes quantitative indicators, provides a comparative analysis of creative industries in the regional breakdown, highlights and describes the characteristics of current trends. Special attention is paid to the experience of Germany and China as leaders in the development of creative industries of the national economy.

The organs of the date palm: an ecologically clean raw material for human use in the Algerian Sahara.

The region of Ouargla, located in the south-east of Algeria, is one of the main dateproducing areas. Date palm is a source for and various products. It produces, every year, dates that are, traditionally, considered as a basic food for the local community as well as a commercial product. This phoenicicole biomass is also used for different purposes (building, heating, fodder, cooking, agriculture, therapy and cosmetics). This study aims to value the products of oasis land, through date palms products, and to endeavor to highlight the economic importance of these products and their uses in order to consider strategies for developing this patrimony. Nine sites are retained for investigation. They represent localities which are notorious for having kept, so far, knowledge and know-how in the use of dates as well as other organs of the date palm, and where these products are likely integrated in the socio-economic life of their populations. The aim is to determine the raw material of production, the uses of the date palm organs, dates’ fields of usage and the importance of the products derived from the phoenicicol mass in the commercial environment. We noticed that the organs of the date palm, which are considered as a raw material, are available in a considerable tonnage. An important range of sub-products is derived from the date palm. It is used in basket-making (utensils, cabinetmaking, and garden-work material) and as a livestock aliment with high economic revenue. Besides, these organs (palms, spines, petiole, seeds, sap, pollen…) are used in making medicinal and cosmetic products. All in all, these products are biological and start making their place in modern trade, which might give a new dynamic to the local and national economy.

MAPPING THE INTRA-INDUSTRY TRADE IN SOUTH ASIAN COUNTRIES THROUGH GRUBEL-LLOYD APPROACH: A SPECIAL FOCUS ON THE VEGETABLE TRADE

Global nations are striving for sustainable growth and enhancing the welfare of the society. In the course of development, it is observed that the international trade plays a protuberant role in achieving the above mentioned goals. The intra-industry trade is the stylized fact of the modern trade, which constitutes a considerable portion in the total volume of trade. Against this theoretical background, the present study investigates the level of intra-industry trade with respect to vegetable trade in South Asian countries such as Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. In order to execute the task, secondary data on total volume of export and import of vegetables have been collected from the Direction of Trade Statistics, published by International Monetary Fund and Commodity Trade Data, published by WITS. The study covers the period from 1988 to 2018, which is the recent data available in the above mentioned sources. The analysis of the study involves two folds: at first the specialization of trade has been computed using Helpman and Krugman's (1985) general equilibrium model and the intra-industry trade has been estimated using Grubel-Lloyd Index (1975). The result of the study revealed that both Maldives and Sri Lanka are the net importers of the vegetables as the trade specialization index is negative. At the same time, the average intra-industry trade has been decreasing over the study period in South Asian countries.

Customer Preferences towards Premium Category Super Food Products in Modern Trade Outlets

The super-food competition in Indian consumer industry is very demanding. Indian consumers have shown growing interest in nutritious and quality food items with high nourishing value, environmental sustainability and food safety. A person with a positive attitude towards the food product of this type is more likely to make a purchase; this makes a marketer's analysis of consumer preference highly important. The primary purpose of this analysis was to examine consumer expectations for quality and safe super food items. The target demographic of this research includes consumers in Chennai region. 173 respondents were chosen using the convenience sampling method. The results of the research study have shown that factors such as ethnicity, monthly income and family status, level of intake, brand knowledge and health issues are linked to customer demand for super-food items. The Structured Equation Modeling methodology was used to define determinants that may describe consumers' propensity for purchasing these groups of food stuffs. Consumers choose food products of this type due to safety considerations, quality issues and environmental concerns, as well as to qualities such as nutritional benefit, taste satisfaction, freshness and attractiveness of organic food items that matter a lot to consumers. This work may be used into further study into the application of various marketing campaigns by advertisers and the examination of other variables.

Integrated economic analysis and evaluation of competitiveness of wheat flour of top variety at Perm market

Flour is one of the most significant essential commodities, and quality of the final product produced by food enterprises in baking, pasta, confectionery, and catering and modern trade depends on its properties. The aim of the study is comprehensive economic analysis and assessment of competitiveness of premium wheat flour sold by New Family LLC in Perm. Achieving this goal the following tasks were carried out: consideration of theoretical foundations of wheat flour competitiveness, conducting primary and secondary marketing research on the wheat flour market (including sociological survey); quality analysis of premium wheat flour; assessment of competitiveness using economic analysis. The object of research in this article are samples of premium wheat flour of various brands sold in New Family LLC Perm, and directly competing with each other for the final consumer. Within the framework of the article, comprehensive economic analysis was as follows: to conduct an examination of flour quality (determination of organoleptic indicators); assessing quality indicators “quality / price”of flour samples; application of Yudanov method; using the method of integrated competitiveness assessment and Buhl method competitiveness assessment (with the use of point scales). The study showed that the issue of considering competitiveness of products is very important in domestic market. The results of competitiveness assessment indicate that the most competitive premium grade wheat flour is “Tsar”.

Quality, variable markups, and welfare: A quantitative general equilibrium analysis of export prices

Modern trade models attribute the dispersion of international prices to physical and man-made barriers to trade, to the pricing-to-market by heterogeneous producers and to differences in the quality of output offered by firms. This paper presents a tractable general equilibrium model that incorporates all three of these mechanisms. Our model allows us to confront Chinese firm-level data on the prices charged and revenues earned within and across markets. We show that all three mechanisms are necessary to fit the distribution of prices and revenues across firms and markets. Accounting for endogenous quality heterogeneity across firms and markets is shown to be critical for the response of prices to trade and tariff shocks.

A Study on the Characteristics of Intra-Industry Trade for Korea’s E-Commerce Trade

Comprehensive studies examining how Korean e-commerce trade works are currently limited. This study seeks to explore whether Korea’s e-commerce trade is more applicable to traditional trade theory or to modern theories. According to our analysis, the share of intra-industry trade (IIT) in modern trade theory is less than that of general trade for Korean e-commerce. Therefore, trade based on comparative advantage can be more valid in explaining e-commerce trade. From results in analyzing the gravity model, it was found that Korea’s e-commerce exports are higher as IIT with its FTA partners. In contrast, it is found that the lower the proportion of e-commerce trade, the higher chance for the import growth. Lastly, this study looked at what kind of comparative advantage is realized through imports. While Korea has been mostly exporting goods of high quality, its major trading partners import products based on price and selection of goods. In order for Korea’s e-commerce to grow, a more strategic approach is necessary. A strategy of high price based on superior quality is not effective, and as e-commerce has radically reduced sales and marketing costs, so a price reduction needs to be reflected in the price of goods for consumers.

Effect of Accounting Practices on Trade and Information Technology in Calabar Metropolis

This study examined effect of accounting practices on trade and information technology in Calabar metropolis. The study specifically assessed the effect of accrual accounting and cash accounting practices on usage of information technology for trade by SMEs in Calabar metropolis. The study applied the survey research design with a well-structured questionnaire administered on three hundred and seven respondents. The ordinary least square technique was the analytical tool used in the study’s analysis. Findings from the analysis showed that accrual accounting and cash accounting practices had no significant effect on trade through information technology. Based on the findings, it was concluded that though accounting practices have no direct significant effect on information technology but in reality, information technology plays vital roles in modern trade towards effective and efficient attainment of organisational goals and objectives of setting up of SMEs. Relying on the findings and the conclusion reached, the study recommended that owners and managers of SMEs should train their employees on the use of accounting software, which are developed by information technology experts, for the timely preparation of accounting reports and or financial statements for prompt decision making. Lastly SMEs should investment adequate resources in accounting information system as this is necessary to monitor the level of organization activities, track receivables and conduct inventory control.

Chinas Trade and Economic Cooperation with the Central Asian Countries

In this article, the specific features of modern trade and economic relations between China and Central Asian Countries are addressed. Central Asia is of interest to China because of its geopolitical position, significant reserves of various natural resources and a promising market for Chinese goods. China is one of the key partners of this region in a wide range of areas. Cooperation between China and Central Asian Countries has a positive development dynamics. The main areas of cooperation are the production, processing and transportation of oil and gas to China. Prospects for the development of trade and economic cooperation between China and Central Asian countries are related to the implementation of the projects under China’s initiative «One Belt, One Road».

Ice(berg) Transport Costs

Abstract Iceberg transport costs are a key ingredient of modern trade and economic geography models. Using detailed information on Boston’s nineteenth-century global ice trade, we show that the cost of shipping the only good that truly melts in transit is not well-proxied by this assumption. Additive cost components account for the largest part of per unit ice(berg) transport costs in practice. Moreover, the physics of the melt process and the practice of insulating the ice in transit meant that shipping ice is subject to economies of scale. This finding supports, from an unexpected historical angle, recent efforts to incorporate more realistic features of the transportation sector in trade and economic geography models.

Communication of a Modern Trading Company in the Function of the Drafting of the Final Decision on Shopping

The aim of this paper is communication of modern trading business based on two-way communication between traders and customers. It is very important for buyers to have the opportunity to express themselves freely about the products or services that a particular trading company provides, and the buyers give suggestions on what should be improved. The objective of a modern trading company is to understand each client individually and use it to facilitate the decision making of customers to prefer to work with a particular company rather than with competition. Nothing provides loyalty better than excellent service. Merchandising as a form of communication seeks to influence all of its elements and knowledge to draw attention of the person-consumer in order to adopt and memorize the content communicated to him. The company, the supermarket, the hypermarket is able to define the strategies and policies of the merchandising elements, which will help build the image of the sales, as well as the way of presenting the products, resulting in the main hypothesis of work: Timely communication with consumers influences to a large extent final consumption decision.

Diet modeling showed that local foods can secure nutrient adequacy except for iron in 19–30 years urban Egyptian women

AbstractGrowing urbanization and rapid changes in dietary patterns and lifestyle led to a nutrition transition in several Arabic countries, including Egypt. While Egyptian women have one of the highest mean body mass index worldwide, they also suffer from several micronutrient deficiencies, more particularly iron and vitamin D. The objective of this study was to identify changes needed in dietary practices and product offer, which could help to rebalance energy and nutrient intakes for women living in urban Egypt. Food intakes were obtained from a 4-days dietary record in 130 women aged 19–30 years from urban Egypt. Food prices were collected in modern and traditional trades typical from middle socio-economic classes in Cairo to calculate diet cost. Modeling analyses (with Optifood software) were used to identify problem nutrients and design affordable food-based recommendations (FBRs). The study assessed whether the most consumed foods (i.e. consumed by > 5% of women) could theoretically ensure nutrient adequacy under the mean diet cost, without exceeding recommendations in energy, SFAs, sugars and sodium. The potential of fortified foods to improve intakes of the most problematic micronutrient to cover was tested in additional modeling analyses. Preliminary results from modeling analyses indicate that iron appeared as the most limiting nutrient with locally consumed foods. Daily consumption of fruits, vegetables, milk or yoghurt, and tahini (sesame paste) associated with specific food choices in the meat-fish-eggs category would result in a low percentage of women at risk of inadequate intakes for 11 out of 12 modeled micronutrients. Among the fortified foods tested, iron fortified bread, rice, milk or yoghurt are the most promising vectors. Local and consumed foods allow to meet nutrient adequacy for most nutrients except iron, for which fortified products would be required. Tailored strategies are needed to promote acceptable FBRs (and fortified products) and secure that nutrient requirements are met by most Egyptian women.

Effective principles in the foreign language education

In modern reality, when economic, trade, scientific and cultural ties are rapidly developing in the world, exchanges are being carried out in the scientific and technical fields, knowledge of a foreign language becomes a priority for specialists of almost all levels. The very concept of a “foreign language” is increasingly being replaced by a “language of communication” in various fields of culture, science and technology. There are many different languages in the world, and even more dialects. But the trends are such that for most people knowledge of one common language is enough. And this language does not have to be native to the interlocutors. A common language is able to unite different peoples and cultures, even absolutely opposite, into one common cause. In addition to strengthening cultural ties, the language brings together experts in science and technology. At the same time, the authors acknowledge, the lack of research in modern pedagogical science devoted to identifying the potential of information and communication technologies in the process of professional foreign language training of future specialists that meet the requirements of the Russian state and society, imposed on modern specialists of different profiles, reflected in national and international documents.

Unpaid Diamonds: Trust, Reputation, and the Merchants' Style in Eighteenth-Century Europe

In 1727, Christian merchant Edward Fenwick sold two small bags of uncut diamonds to the Ashkenazi Jewish trader, Andrew Levy. Having failed to pay his debt, Levy fled to the United Provinces. In Amsterdam, a correspondent of Fenwick received permission to take necessary legal steps to arrest the thief. In London, Fenwick sought the aid of his business partner, Francis Salvador, one of the world's foremost Sephardic diamond traders. The interaction between these three men, traced through the story of unpaid gems, confirms that early modern diamond trade occurred through cross-cultural networks, despite differences in ethnicity and religion. Rather than basing one's trust on shared kinship or religion, international merchants in the early modern period combined informal customs and formal institutions, developing the so-called merchants' style. This commercial practice required careful assessments of reputation and record, obtained through shared information. The merchants' style, used to nurture trust in cross-cultural trade, proved crucial in cases of cheating. Attempting to reclaim his money from Andrew Levy and to protect his reputation, Edward Fenwick resorted to this practice.

Zsidó foglalkozások a Római Birodalomban

As is well known in modern western societies, certain professions and trades have attracted inordinately large numbers of Jews. As is also well  known, in medieval Christian Europe Jews were allowed to pursue only a limited number of occupations. In antiquity, however, Jews did not segregate themselves, and were not segregated by general society, in their occupations. Th e economic profi le of the Jews of antiquity seems to have been identical to that of their gentile neighbors, whether in the diaspora or in the land of Israel. Jews in Rome were widely reputed to be beggars, but no ancient source suggests that all beggars were Jews or that all Jews were beggars. Jews perhaps abstained from certain occupations that would have brought them into contact with the gods and religious ceremonies of the gentiles, but, as far as is known, they did not concentrate in particular professions or devote themselves to particular trades. Th ere were no „Jewish” occupations in antiquity.

Modern digital technologies in the professional-oriented multicultural education

In modern reality, when economic, trade, scientific and cultural ties are rapidly developing in the world, exchanges are being carried out in the scientific and technical fields, knowledge of a foreign language becomes a priority for specialists of almost all levels. The very concept of a “foreign language” is increasingly being replaced by a “language of communication” in various fields of culture, science and technology. There are many different languages in the world, and even more dialects. But the trends are such that for most people knowledge of one common language is enough. And this language does not have to be native to the interlocutors. A common language is able to unite different peoples and cultures, even absolutely opposite, into one common cause. In addition to strengthening cultural ties, the language brings together experts in science and technology. At the same time, the authors acknowledge the lack of research in modern pedagogical science devoted to identifying the potential of information and communication technologies in the process of professional foreign language training of future specialists that meet the requirements of the Russian state and society, imposed on modern specialists of different profiles, reflected in national and international documents.

Actors in customary and modern trade of Caterpillar Fungus in Nepalese high mountains: who holds the power?

This paper assesses the supply chain of Yartsagunbu (Caterpillar Fungus) in Darchula district of Nepal to identify who holds the power and how they gain power for management and marketing. We recorded two types of supply chain: (ⅰ) open supply chain, driven by open market, where the product is transported to Kathmandu before export to international market, and (ⅱ) close chain practiced by indigenous Shauka community following customary trade route to Tibet. The open chain is longer with higher number of actors compared to the close chain. This study observed that actors have intensive horizontal competition in the open chain to collect and purchase maximum quantity. Therefore, profit is disproportionately distributed to the actors in higher level of the supply chain. The profit is based on the price the actor receives, which is determined by their bargaining power. An actor's bargaining power is determined by the capital holding capacity, market information, risk appetite, networking and social ties. The study suggests that Government's interventions such as providing security to traders, access to finance, organizing auction and providing market information can help to increase the bargaining power of lower level actors. The study also suggests to minimize the disturbance in the collection site through limiting the collection permit and revising the revenue based on the market price.

The Medieval Origin of the Factory or the Institutional Foundations of Overseas Trade: Toward a Model for Global Comparison

The aim of this article is threefold. First, it argues in favor of continuity into the early modern world overseas of the institutional family of trading stations around the medieval Mediterranean. The Portuguese feitoria represents a missing link between the medieval funduq and fondaco and the early modern factory overseas. Second, it puts the supposed colonialistic nature of early modern trading stations overseas in perspective by comparing these stations with their medieval counterparts around the Mediterranean and the Black Sea on the one hand and by showing that early modern factories more often than not could be founded and exist only thanks to some sort of recognition by local powers. Finally, it offers a functional model for global comparison of trading stations which allows to cross existing temporal and spatial divides, mainly those between medieval and early modern historiography and between the study of trading stations around the Mediterranean and those in the rest of Africa, Asia, and America.

Chinese Porcelain in Colonial Mexico: The Material Worlds of an Early Modern Trade by Meha Priyadarshini

Chinese Porcelain in Colonial Mexico: The Material Worlds of an Early Modern Trade by Meha Priyadarshini