Trade Difficulties Research Articles

Foreign Policy Priorities of European Landlocked Microstates

A ‘Microstate’ is defined in its simplest form by a very small surface area and a very small population ratio. On the other hand, a ‘Landlocked’ country, again in its simplest definition, is a state without access to the sea. These two geographical characteristics create natural disadvantages when they are combined and the states having said characteristics are expected to have a lower level of prosperity. However the Principality of Andorra, the Principality of Liechtenstein and the Republic of San Marino, all possessing these characteristics in Europe do not experience the expected disadvantages in the same manner. The present study, focusing on the foreign policy tendencies of these 3 states, analyses how they overcome the geographical disadvantages. As they have strong neighbours, memberships to international organisations and special relationships with EU, in our day above mentioned states do not encounter difficulties in trade, development or simply about ‘existing’. Within this framework, the study focuses on how these states overcome, thanks to their geographical situation, the disadvantages of their unfavourable conditions.

CRITICAL ANALYSIS OF HEMP (CANNABIS SATIVA L.) USE: SCIENTIFIC, LEGISLATIVE AND SOCIO-ECONOMIC ASPECTS

Cannabis sativa L. culture has encountered various legislative challenges throughout history, and these have varied according to the social, political and economic context of each period. Historical stigma and prohibitions brought restrictions on cannabis, and anti-drug and prohibition policies adopted in the 20th century led to the prohibition of the cultivation of Cannabis sativa L. Its incorrect association with drugs of abuse and its classification as a narcotic substance complicated the legislation. Problems in differentiating between recreational and medical use have created confusion in law. Global inconsistency in cannabis rules and regulations has created difficulties in international trade and research cooperation. The recent evolution of legislation, marked by ambiguities and inconsistencies regarding the medical, industrial, and food use of cannabis, has raised questions and challenges. Production and marketing issues, such as strict regulations and licensing hurdles affect the cannabis industry in the Republic of Moldova too. These challenges are constantly changing, reflecting the diversity of perspectives and societal developments.

Transnational Trade Risks of Chinese Small and Medium-Sized Enterprises and Solutions After the Covid-19

Within the context of economic globalization, Chinese enterprises affected by the COVID-19 face a number of difficulties in cross-border trade. Small and medium-sized enterprises (SMEs) play a substantial role in china's economy. These enterprises account for more than 60% of the total GDP, around 50% of the tax revenue generated, create over 79% of employment opportunities, and contribute to approximately 68% of the whole export volume. With the onset of the epidemic, the viability and progress of China's small and medium-sized firms face a significant risk, so causing a further threat to the overall economic advancement of China. Based on previous studies on Chinese SMEs' foreign trade, this paper narrows the time frame of the study to the period between the epidemic and the post-epidemic period, analyses in detail the cross-border trade risks faced by Chinese SMEs from the perspectives of supply and demand, business operations, product price competitiveness and innovation level, and provides relevant measures to address these risks, such as strengthening cooperation among allied countries, enhancing the government's supportive role, utilizing financial instruments to hedge trade risks, and enhancing the innovation capacity of enterprises. By analyzing the foreign trade risks faced by Chinese SMEs in the post epidemic context, SMEs can make more improvements in production, operation, management and innovation. Therefore, these small and medium-sized enterprises can create more value and achieve sustainable development.

CULTURAL BUSINESS ETHICS FROM ISLAMIC BUSINESS MODEL AND CURRENT TRADING CHALLENGES

There can be no rule of law, societal reform, common interest, or economic growth without the practice of ethical business practices. Muslims in today's fast-paced business world face difficult choices and could benefit from a more refined understanding of the Islamic business model. The global financial crisis may have been avoided if business ethics were more prominent and practiced. For Islamic finance to live up to its claims of providing worldwide financial security and high standards of ethics, it must be reflected in all parts of behavior. This will lead to a more moral and spiritual society as a whole, and when this is combined with the creation of goods and services, it will further the Islamic way of life. From its beginning, Islam—a major religion in the world—prescribed necessary norms and principles for all aspects of life, including economic and business dealings. The goal of this study is to examine Islamic business ethics as a lens through which to examine cultural business practices. Current trading difficulties are also examined in this article. This article also delves into Islamic ideas on business, as well as the guiding principles and legal frameworks of Islam. The data used to explain the Islamic business model and ethics to help traders and businessmen succeed in the current challenging economic situations come from the Qur'an, Hadith, jurisprudence, biography of the Holy Prophet (PBUH), Islamic history, and quips of the companions of the Hazrat Muhammad (PBUH).

An Overview of Nigerian Macroeconomic and Financial Development

The Nigerian economy is one of the biggest in Africa. It has been based mainly on the petroleum industry since the late 1960s. Since 1973, a series of rises in the price of oil has led to a rapid expansion of the transportation, building, manufacturing, and government services industries [1, 2, 3]. Due to the considerable migration of rural residents into the more extensive urban areas, agricultural productivity became so stagnant that cash crops like cotton, peanuts, and palm oil lost their significance as export commodities [4, 5, 9]. After the pandemic-caused recession in 2020, the Nigerian economy improved, but macroeconomic stability declined. The inflation rate in Nigeria is very high, and millions of the Nigerian population lives in poverty due to global commodities shocks, the currency's falling value, trade difficulties, and monetization of the deficit [6, 7, 8, 10]. The rising oil price has had no positive impact on the Nigerian economy since 2021. The country's oil revenue growth is declining due to subsidies on gasoline, and the oil output rate is badly affected [11, 12, 14]. Over 40% of the Nigerian population in 2018 lived in poverty, and over 20% is badly affected and vulnerable. Researchers forecast that over 7.6 million Nigerian are likely to live in poverty between the years 2019 and 2024 because of the rapid population growth in the country [15, 16, 17]. The Nigerian economy is projected to grow by an average of 3.3% in 2022–2024. Still, risk factors like drops in oil production and increased insecurity are significant threats to the country's economic growth [19, 20]. Along with persistent budgetary and debt pressures, high inflation contributes to uncertainty. Furthermore, continued currency shortages and reduced liquidity could impact non-oil sector economic activity and jeopardize macroeconomic stability [21, 22, 13]. Strategic Revenue Growth Initiative (SRGI) Nigeria has made some socioeconomic progress recently. However, the World Bank's 2020 Human Capital Index categorized Nigeria as 150 out of 157 in human capital development [23, 24, 18]. The Nigerian government needs to modify the economy, improve weak institutions and public financial management systems and resolve governance issues to achieve remarkable economic growth. [25, 26]. The constant high levels of inequality in terms of income and opportunities contribute to poverty in the country [27, 28]. Unemployment, social and regional disparities, and political discontent also contribute to a lack of economic growth and poverty. Over 8 million households have been pushed into poverty due to the negative impact of 2020-2022 high inflation [29, 30]

Trade Difficulties between Cameroon and Nigeria Since 1960

Since 1960, trade between Cameroon and Nigeria has faced many difficulties that have seriously impacted its smooth development. And yet the latter, despite its imbalancein favour of Nigeria, constitutes a real social safety valve towards supply and employment issues, and as such has generated a real craze in local populations given significant benefits generated. Yet, these States do not sufficiently benefit from these transactions, which unfortunately are still below their strengths and potentials. This article has as objective to analyse key factors of trade between both countries since independence in a bid to understand reasons for its weak development, the reign of informality and smuggling that characterises it.

When Sino-American Struggle Disrupts the Supply Chain: Licensing Intellectual Property in a Changing Trade Environment

AbstractThrough legislative changes, tariff wars, and executive actions, the Trump Administration has injected a new urgency into international technology and supply chain management, particularly between the United States and China. Analytically, the situation invites a perspective that links practical/on-the-ground responses by commercial actors in the politics of technological competition between superpowers, i.e. a discussion that bridges the gap between policy and process. This article therefore approaches management of supply chain disruption in terms of a key security issue motivating recent changes to the trade environment: the protection of intellectual property. After reviewing critical policy developments and trade statistics, we draw upon data on IP-intensive industries from global patent offices, trade classifications for products made by these IP-intensive industries, and concordance data on patent classifications to illustrate the centrality of IP to extended supply chains. With these key relationships in mind, we outline specific opportunities that intellectual property licensing provides for managing supply chain linkages between the United States and China in the current geopolitical environment. Viewing intellectual property as both a driver of and a solution to trade difficulties highlights the sorts of cross-jurisdictional nuances that can better inform policy and business decisions alike in the broader international trade regime.

The impact of crisis situations on business safety

Introduction. The article deals with the issues of doing business in crisis situations. The main directions of the influence of crisis situations on the activities of the enterprise at different levels are considered. The factors of influence of the coronavirus on the economy of both the enterprise and the country have been determined. The purpose of the paper is to clarify the factors that may affect the safety of doing business today and provide recommendations for improving the company's activities. These recommendations will increase the efficiency of the enterprise by increasing the stability of the organization. Among the dangerous factors, increased attention is paid to the coronavirus epidemic. Results. There are five dangerous factors for the Ukrainian economy in this situation. The first factor is the impact of the pandemic on micro- and macroeconomic processes. The second factor is the falling incomes and deteriorating business environment. The third factor is the increase in capital outflows from the country. The fourth factor is the strengthening by the state of restrictive measures for the population and enterprises. The fifth dangerous factor is the low level of trust of entrepreneurs in public authorities. Conclusion. Despite all the measures taken, it is currently difficult to assess the real scale and consequences of COVID-19 and other crises for the economy of Ukraine and the world. To date, there is a deterioration of the epidemiological situation in the country. There is also a deterioration in the economic situation of both the country as a whole and individual enterprises. We will be able to see soon how Ukraine will survive this pandemic and what damage will be done to the economy. But the use of the proposed measures will reduce the company's losses from dangerous situations. The impact of the first factor will lead to difficulties in international trade and relocation of personnel. The second factor warns of declining business incomes that have not adapted to quarantine conditions. Counteracting this factor involves the maximum use of remote labor and e-commerce. When forecasting the consequences of the third factor will reduce the supply of foreign currency, which makes the national currency unstable and leads to its depreciation. The action of the fourth factor will lead to a significant complication in the organization of the production process. There may be difficulties in finding and hiring staff, the situation on the labor market will change. The influence of the fifth factor will lead to the fact that the organization can not adequately and effectively respond to external influences.

When Sino-American Struggle Disrupts the Supply Chain: Licensing Intellectual Property in a Changing Trade Environment

Through legislative changes, tariff wars, and executive actions, the Trump Administration has injected new urgency into international technology and supply chain management, particularly between the United States and China. Analytically, the situation invites a perspective that links practical/on-the-ground responses by commercial actors to the politics of technological competition between superpowers. This paper approaches the management of supply chain disruption in terms of a key security issue motivating recent changes to the trade environment: the protection of intellectual property. After reviewing critical policy developments on both sides of the Pacific in conjunction with recent trade statistics, we turn to a discussion of the opportunity that intellectual property licensing provides for managing supply chain linkages between the United States and China. Viewing intellectual property as both a driver and a solution of trade difficulties highlights the sorts of cross-jurisdictional nuances that can better inform policy and business decisions alike in the broader international trade regime.

PERMISSION TO ACT: THE LEGAL CHARACTER OF GENERAL AND SECURITY EXCEPTIONS IN INTERNATIONAL TRADE AND INVESTMENT LAW

AbstractThe dyadic rule–exception structure common to many legal systems has posed particular interpretive difficulties in international trade and investment law. Adjudicators have interpreted general and security exceptions in GATT, GATS and cognate provisions of investment treaties in divergent ways, and the analytic character of these provisions is under-theorised in the literature. This article argues that we should understand exceptions from a deontological perspective as permissions that affirm governmental regulatory capacity and thus limit the scope of the commands set out in the treaty. This characterisation of exceptions has both symbolic and practical implications, of which this article discusses two: determining the exception's applicability as a preliminary matter rather than as a defence, which would in turn permit consideration of regulatory purpose at the point of obligation; and whether the applicability of an exception is properly a question of merits or jurisdiction.

KINERJA POS LINTAS BATAS NEGARA (PLBN) TERPADU WINI DI KAWASAN PERBATASAN RI - RDTL KABUPATEN TIMOR TENGAH UTARA PROVINSI NUSA TENGGARA TIMUR

State border management is an important aspect in maintaining the integrity and sovereignty of a country. The start of the Asean Economic Community (AEC) program in 2015 among Southeast Asian countries in order to improve the economy, the border region became a strategic place that was the gateway to various cooperation activities between countries. To improve crossborder services between countries, the Government issued INPRES No. 6 of 2016 concerning the Development of 7 Cross-border State Posts. One of the construction of the State Border Crossing Post is located in North Insana District, North Central Timor Regency, East Nusa TenggaraProvince. This study aims to determine the performance of Integrated Wini Cross-border Post (PLBN) in cross-border service activities in the RI-RDTL Border Region of North Central Timor Regency, East Nusa Tenggara Province. This research uses a qualitative research design with a descriptive approach. Informants in the study were determined by purposive sampling and incidental sampling techniques. Data collected by interview, observation and documentation techniques. And in analyzing data using miles and huberman models, namely data reduction, data displays and drawing / verification conclusions. The results showed that the performanceof Pos Lintas Batas Negara Terpini wini in cross-border service activities was not optimal. This is influenced by the inhibiting factors, among others, limited personel resources, limited facilities and infrastructure, weak coordination between elements of CIQ, difficulties in licensing trade documents, and lack of understanding of the community. Based on the results of the analysis, the authors suggest that PLBN Managers improve coordination between elements of CIQ, provide socialization to the community, improve service facilities and infrastructure, facilitate licensing of trade documents to increase recruitment of CIQ employees.
 Keywords: Performance; Border; PLBN

The impact of mandatory IFRS reporting on institutional trading costs: Evidence from Australia

AbstractThis study examines the impact of mandatory International Financial Reporting Standards (IFRS) on the market quality of the Australian Securities Exchange (ASX) 200 constituent stocks. Using traditional metrics that are consistent with prior literature (i.e., bid‐ask spreads), the first stage analysis confirms that stock liquidity has improved. However, when the analysis is extended to consider the trading costs incurred by market participants (i.e., execution shortfall), results suggest liquidity has not changed significantly. The paper utilizes rich unique datasets that contain detailed trade information, and findings are robust after controlling for trade difficulty and market conditions. In the era of High Frequency Trading (HFT) and occurrences of ‘fleeting’ liquidity, this paper provides some evidence that while IFRS may have enhanced ‘visible’ bid‐ask spreads, tangible liquidity for market participants, particularly global institutional investors, has not improved significantly.

Kalecki on Technology and Military Keynesianism

Kalecki’s analysis of military Keynesianism highlights the difficulties of managing aggregate demand in one country, without coordination with trading partners. Military Keynesianism is effective as a means of reflation because, unlike civilian public works, it induces similar expenditure by political rivals. In this way it overcomes some of the trade difficulties that arise if aggregate demand expands in only one country. However, military technology is not immediately transferable to civilian production, and therefore tends to reinforce technological backwardness.

Multilateralism and military Keynesianism: Completing the analysis

ABSTRACTKalecki’s analysis of military Keynesianism highlights the difficulties of managing aggregate demand in one country, without coordination with trading partners. Military Keynesianism is effective as a means of reflation because, unlike civilian public works, it induces similar expenditure by political rivals. In this way it overcomes some of the trade difficulties that arise if aggregate demand expands in only one country.

Lokalizácia maloobchodnej siete a jej koncentrácia v regiónoch Slovenskej republiky

One of the most prominent features of the contemporary retail-trade in Slovakia is imminently its concentration and changing structure of the retail network where small stores and self-service stores were replaced by large-scale business formats like supermarkets, hypermarkets and discount stores. In the scope of the retail-trade, the localization decision making is very important since a mistake in the decision and a following inconvenient location of the retail unit leads mainly to serious trade difficulties and subsequently to the crash of the store. The evaluation of the development of retail networks in regions of the Slovak Republic was realized on the basis of selected indicators of the localization and the concentration. Based on the analysis of the concentration and the localization of the retail network in regions of the Slovak Republic conducted, it can be stated that the Bratislava region demonstrates a significant dominance in the monitored period.

Financial restructuring and recovery in private equity buyouts: the UK evidence

A large literature has adumbrated the value-added role of private equity (PE) firms in backing buyouts. The present paper examines a different and hitherto unexplored issue: the role of financial restructuring in PE buyouts in the UK both before and after the financial crash of 2007. The UK evidence indicates that while PE buyouts had greater financial risk than comparable public limited companies (PLCs), they (1) already contained provisions to optimize recovery rates under insolvency, raising their recovery rates significantly relative to controls; and (2) rapidly adjusted the capital structures of new deals in response to the changes in financial and economic climate from 2007 onward resulting in failure rates somewhat lower than PLCs and non-PE buyouts. Non-PE management buyins (MBIs) by contrast have much higher failure rates than any other category throughout the 12-year period. Our analysis offers important implications for policymakers. First, it shows that there has been greater adjustment over time in the leverage and cash position of buyouts than for other private companies and matched PLCs. Second, policymakers need to recognize that while PE buyouts are highly leveraged, non-PE-backed buyouts are more or less well managed. Third, ceteris paribus, PE-backed deals are not riskier than the population of non-buyouts; active involvement by PE firms in helping portfolio companies deal with trading difficulties plays an important role. Fourth, the governance mechanisms in PE buyouts result in greater preservation of value when a portfolio firm enters formal bankruptcy than is the case for PLCs.

Cross-border Collaboration in the Field of Highly Contagious Livestock Diseases: A General Framework for Policy Support

This paper analyses the potential gains and the main challenges for increased cross-border collaboration in the control of highly contagious livestock diseases in regions with cross-border reliance on production and consumption of livestock commodities. The aim of this intensification of cross-border collaboration is to retain the economic advantages of cross-border trade in livestock and livestock commodities while maintaining a low risk of highly contagious livestock diseases. From these two foci, possibilities for future policy making with respect to highly contagious livestock diseases are discussed: peacetime cross-border cooperation to improve the cost-effectiveness of routine veterinary measures and crisis time cross-border harmonization of current disease control strategies. A general disease management framework was used to describe the way in which these two fields are related to and affect the epidemiological system and, consequently, how they impact the stakeholders. In addition to this framework, the importance of a good understanding of influencing factors, that is, the production structure of livestock, was stressed because these factors are important determinants of the frequency and magnitude of highly contagious livestock diseases and their economic impact. The use of the suggested integrated approach was illustrated for the extended cross-border region of the Netherlands and Germany, that is, North Rhine Westphalia and Lower Saxony. For this region, current difficulties in cross-border trade in livestock and livestock commodities and possibilities for future cross-border collaboration were examined. The concepts and ideas presented in this paper should foster future development of cross-border collaboration in animal health control.

Glanders in Animals: A Review on Epidemiology, Clinical Presentation, Diagnosis and Countermeasures

Glanders or farcy, caused by Burkholderia mallei, is an infectious and zoonotic disease of solipeds. Horses, donkeys and mules are the only known natural reservoir of B.mallei. Although glanders has been eradicated from most countries, it has regained the status of a re-emerging disease because of the numerous recent outbreaks. Pre-symptomatic or carrier animals are the potential source of infection for the healthy equine population and play a crucial role in the spreading of the infectious agent. Glanders is characterized by ulcerating nodular lesions of the skin and mucous membrane. Generalized symptoms include fever, malaise, depression, cough, anorexia and weight loss. Burkholderia mallei can invade its host through mucous membranes, gastrointestinal tract and the integument. Its virulence mechanisms and pathogenesis are not yet completely understood. A major problem when using serological tests for diagnosing glanders is the occurrence of false-positive and false-negative results leading to difficulties in international trade with equids and to the spread of glanders to disease-free regions. Moreover, poor tests critically result in poor control of disease. These tests are not only incapable of discriminating between B.mallei and B.pseudomallei antibodies, they are also unable to differentiate between malleinized and naturally infected animals. Combined use of both serological and molecular detection methods increases the detection rate of glanders. Countermeasures against glanders include early detection of disease in susceptible animals, stringent quarantine measures, testing and safe destruction of infected carcasses, adequate compensation to the animal owners, disinfection of infected premises and awareness about glanders and the zoonotic implications through veterinary extension services. An account of the clinical picture and successful experimental therapy of spontaneous equine glanders is also given.

The Trade Related Intellectual Property Rights (TRIPs) Agreement and Agriculture in South Asia

One of the main objectives of the World Trade Organization (WTO) is to facilitate world’s trade and production. It enforces legally binding multilateral agreements on trade in goods, services and trade-related aspects of intellectual property rights. The Trade Related Intellectual Property Rights (TRIPs) Agreement was implemented to regulate standards of Intellectual Property (IP) regulations in WTO member countries. Being a member of the WTO and a signatory to the TRIPs Agreement, it was compulsory for Sri Lanka and five other South Asian countries (Bangladesh, Nepal, the Maldives, India and Pakistan) to formulate its IP regulations to comply with the TRIPs Agreement. According to the agreement, by 2006 India, Pakistan and Sri Lanka, and by 2013 Bangladesh and Nepal have to provide legal protection to plant varieties and farmers’ traditional knowledge via patents or by an effective sui generis system or by both. All of the above six countries have during the past 15 years implemented or drafted several acts to comply with the TRIPs Agreement. Sri Lanka has passed the Intellectual Property Rights Act No. 36 of 2003 to comply with the TRIPs Agreement. However, this Act does not provide protection for plant varieties and farmers’ traditional knowledge as it does not allow patenting of plants. Due to several reasons such as lack of demand from civil society, a poor legal system, lack of properly established institutional system, etc,. Sri Lanka was unable to build an effective intellectual property rights regime complying with the agreement, especially for the agricultural sector. Further, due to a delay in establishing rules and regulations to comply with the agreement, the Sri Lankan agricultural sector faces several difficulties in international trade and it has also lost a number of opportunities to use its own plant varieties for the benefit of future generations. The article suggests several techniques and methods that could be followed in implementing intellectual property rights in agriculture in order to promote investments and accelerate trade especially in Sri Lanka. And also it suggests the importance of having a regional centre to manage intellectual property rights effectively among South Asian countries.

Resolution of NTBs in Bilateral Trade Agreements – Lessons from the U.S.-Korea Free Trade Agreement and a Model for Market Access in the Twenty-First Century

The incredible success of the World Trade Organization (WTO) and bilateral Free Trade Agreements in reducing tariffs has shifted the battle for market access in the twenty-first century. Countries that seek to protect their markets now must resort to non-tariff barriers (NTBs). Unfortunately for exporters, NTBs are elusive and it is difficult to prove the illegality of a measure within the confines of the standard dispute settlement system. This article draws upon lessons from the U.S.-Korea FTA (KORUS) and the current political climate and concludes that the United States must develop a new framework to address NTBs to trade within bilateral trade agreements. It is proposed that an NTB Resolution Mechanism be included within U.S. bilateral trade agreements. The NTB Resolution Mechanism should build on proposals at the WTO that require that NTBs be examined within 60 days and focus on the trade restrictiveness—and not the legality—of the measure. However, the Congressional Proposal to Open Korea’s Automotive Market makes it clear that the NTB Resolution Mechanism must have teeth to assure exporters that trade barriers will be addressed. One option is to include the Korea trade agreement’s “snap-back” provision within the NTB Resolution Mechanism. Next, the NTB Resolution Mechanism should allow for a private right of action. Exporters are concerned that the U.S. government may not take up their cause over discrete NTBs in otherwise complicated bilateral relationships. A private right of action would guarantee that all companies with market access problems are heard. Finally, a continuous monitoring platform should be created that documents NTBs. The platform would exist within U.S. bilateral trade agreements and would be built upon the principles of current structures that document trading difficulties. The platform would provide a formal channel to raise NTBs and ratchet up pressure to remove the barriers. The platform would also provide a channel to build evidence prior to engaging the NTB Resolution Mechanism. Market access is the issue that drives corporate support for liberalization of international trade. The United States must build structures within its trade agreements that can adequately address market access inhibitors like NTBs. Without these structures, agreements like KORUS will not be ratified by a Congress that is increasingly skeptical of liberalized trade, and the United States will fall further behind in global trade agreements.