Trade Order Research Articles

EU as a Trade Power: Adjusting Instruments of Foreign Economic Policy

The focus of this study is aimed at the foreign economic policy of the European Union and the areas of its implementation. The article is based on a comprehensive approach to the concept of EU foreign economic policy as a set of instruments combining trade and investment policies of the EU. The study evaluates the communitarization of the main directions of the EU’s foreign economic policy. As a result, it is concluded that the exclusive competence of the supranational bodies of the Union is partially extended to investment policy. Considering that the paradigm of realism is taken as the basis for the study, the subject of the article is to assess the role of the EU’s foreign economic policy in the realization of the Union’s foreign policy interests. The authors believe that the European Union as a “trade power”, seeks not only to achieve economic benefits, but also to ensure that its trading partners meet a number of regulatory and value requirements. Taking into account the transformation of the world order, the need for the European Union to strengthen its own political subjectivity and economic competitiveness is increasing. This leads to the expansion of “defensive” measures in trade policy (sanctions mechanism for non-compliance with the provisions on sustainable development in trade agreements) and investment policy (mechanism for controlling foreign direct investments). As a result, it strengthens the normative and value content of EU foreign economic policy on one hand and make it more protectionist on the other hand. The authors of the article conclude that by means of foreign economic policy, the European Union, as a “trading force”, seeks to create and maintain an international trade order based on rules that are beneficial to the EU.

Green Trade Barriers in the Context of Globalization: Legal Challenges and Countermeasures

The acceleration of globalization has brought about the deepening of economic cooperation, but also triggered an urgent need for environmental protection. Green trade barriers, as a trade restriction measure in the name of environmental protection, have gradually become an important factor in international trade. Major countries and regions have widely implemented green trade barriers, which have made enterprises face complex trade obstacles and affected the international trade order and domestic industrial competitiveness. Although previous studies have explored the impact and implementation of green trade barriers, there are still certain research gaps regarding their legitimacy under the framework of international law, their actual effects on environmental protection, and their specific impacts on domestic industries. Studying the legitimacy of green trade barriers under the framework of international law will help to clarify their reasonable limits. Evaluating their actual effects on environmental protection and analyzing their impact on domestic industries will help provide a scientific basis for policy making and promote a win-win situation for the economy and the environment. This article conducts research from three aspects: current dilemma, in-depth analysis, and optimization path, to provide possible opinions and response strategies for solving the problem of green trade barriers.

Impact of De-Dollarisation Move on Indian Rupee

Since the Russia-Ukraine war, it seems to be an era ofeconomic uncertainties and tense geopolitical relations. Could India reap some benefits arising out of these tense geopolitical scenario and uncertain geo-economic conditions? Post the invasion of Ukraine by Russia, Russia and China entered into a strategic relationship which provides a window for a more multialigned India. India could really reap the benefits of this strategic relationship of Russia and China if it can utilise this as an opportunity and puts more emphasis on its economic growth and market-oriented reforms. This could be possible if India strives for driving service based exports besides extending the manufacturing sector and gaining a pivotal role on the economic front through major chunk of global trade. India can utilise this strategic alliance of Russia and China as an opportunity especially by strengthening its economic power by focussing on service based exports besides expansionary move in the manufacturing sector. India could really gain out of these opportunities since lot many events are occurring globally which are really aiding India. Recent complex notifications as being given by the Ministry of Commerce and Industry, emphasised a few class of exporters and importers to execute trade transactions in the India Rupee. It is really a turning point amidst latest phenomenon of global trade promoting globalisation in almost every sphere of trade with a great hue and cry. These bilateral trade orders really made the citizens nostalgic about EXIM policy in the past before the globalisation move. But how this time these notifications deviate from the times when India used to have a closed economic system. At that time the dollar was king, imports were strictly regulated by tariffs, foreign exchange reserves were limited and above all these recent measures of foreign trade in India in Indian Rupee pose an important question whether this is a move towards de-dollarisation and if it provides a window for Indian Rupee to rise.

The WTO as Multilateral Diffusion Hub: Institutional Learning in WTO Disputes and the Design of Preferential Trade Agreements

Abstract Institutions are not created in a vacuum—but how do extant institutions influence design choices? Leveraging fragmentation in the global trade order, this paper stresses the relevance of experience and argues that the institutional influence of the World Trade Organization (WTO) extends beyond its jurisdiction through its centrality as multilateral diffusion hub: When states negotiate preferential trade agreements (PTAs), previous dispute settlement experiences in the WTO shape the design of dispute settlement mechanisms (DSMs). National bureaucracies undergo institutional learning processes when participating in multilateral trade disputes and subsequently conclude PTAs with DSMs that are similar to the institutions of the WTO, thus fostering their—decentralized—spread to the network of PTAs. The learning effect is particularly pronounced for states with low bureaucratic capacity. Employing a novel, unitary conceptualization of DSMs in terms of complainant rights shows that the results of this diffusion process generally entail increased levels of complainant rights in PTAs. Importantly, institutional learning is more than mere emulation: States also adapt institutional design to individual context by considering the prior dispute experience of their trading partners. A dual empirical strategy and interviews with PTA negotiators corroborate the learning effect and its relevance during PTA negotiations.

Canada and Japan can play a role in rebuilding a rules-based trade order

The rules-based trade order confronts a crisis as both rule-making and enforcement have stalled in the World Trade Organization (WTO). Locked in great power rivalry, the United States and China are undermining the rules, making it necessary for middle powers like Canada and Japan to lead a coalition to reform the WTO. Working together they should advocate for greater transparency over subsidy policies and guidelines for how to balance security goals with economic cooperation.

Study of Supply Chain Selection Strategies of Firms under Geopolitics

Based on the geopolitical perspective, the study analyzes the interaction between global trade policies and supply chain strategies, and constructs a theoretical model to explore how the tariff structure of final products is shaped by value-added content and the role of the most-favored-nation (MFN) rule and the principle of reciprocal trade in it. The findings suggest that geopolitical factors have a significant impact on international trade strategies and supply chain configurations. This theoretical framework indicates the importance for policymakers to consider geopolitical complexity in maintaining the global trade order and supply chain resilience, and promotes the construction of solid and adaptable international trade and supply chain management strategies.

Financial Institution's Role in Supply Chain Risk Management: Strengthening Resilience and Mitigating Financial Risks

One of the most important problems that multinational organizations are dealing with in risk-oriented supply chains is efficiency assessment and choosing the best low-risk financial institution for financial assistance. We provide an integrated approach for evaluating the unpredictable, dangerous, and fragile arrangement of the financial sector, which directly affects the supply chain network's processing stages. This model is supported by fuzzy-soft tools. The real economy is currently under pressure from both the domestic economic crisis and the decline in international commerce. President Xi Jinping has often suggested stepping up initiatives to assist the real economy's high-quality growth. In this regard, the development of the model for supply chain financing offers a fresh approach to resolving the funding issues faced by businesses. To tackle the financial issues facing the marketplace, we should use the chain of custody finance model, but we also need to thoroughly understand the risks associated with it and how to manage them. False trade orders and insufficient control over core businesses are difficulties that the present logistics finance risk management must deal with. The World Wide Web, big data, and block chain technologies are all blooming, opening new avenues for risk management in block chain finance. As a result, the goal of this essay is to examine the features of supply chain finance based on the technology of block chain, examine the risks associated with financing supply chains, and debate how to use block chain innovation for supply chain banking risk management.[4] Risk Financing: To assist organizations in transferring or reducing supply chain risks, financial institutions offer risk financing solutions including insurance & alternative risk transfer methods. The creation of novel risk financing products, evaluation of their performance, and comprehension of the effects on the resilience of supply chains can all be the subject of research. Financial institutions provide supply chain financing options like factoring, discounted invoices, and supply link finance programmed that help businesses manage their working capital, improve cash flow, and lower the risk of supplier failure to pay or insolvency. The effects of different financing choices on supplier relationships, supply chain stability, and overall risk reduction may be studied. Financial institutions collaborate with businesses to detect and classify different supply chain risks. An extensive investigation of the supply network environment, encompassing suppliers, transportation, logistics, and market dynamics, is required in this phase. Data gathering techniques used may include questionnaires, interviews, & site visits. In the above rank one is axis, and the last one is Punjab national bank. Financial Institution in Supply Chain Risk Management In the above rank one is axis, and the last one is Punjab national bank.

An Analysis of Trade Protectionism from the Perspective of the Community of Human Destiny

With the continuous advancement of the process of trade globalization, free trade has become the dominant form of today's world economic system. However, it cannot be ignored that trade protectionism still exists and has gradually risen in recent years. The rise of trade protectionism, to a certain extent, has caused disorder in the international trade order and intensified trade frictions between countries, which fundamentally violates the objective law of the development of global economic integration. As a big country with a sense of responsibility, it is necessary for China to put forward China's plan to guide and resolve this problem in a targeted way from the perspective of the community of human destiny.

Islamic Economic Values of Traders in Traditional Markets in Riau, Indonesia

This article aims to study the ethics and values of Islamic economics in traders who still survive selling in traditional markets. The exploration of Islamic economic values and ethics as the theme of the study is motivated by the assumption that the trade order has shifted to a modern direction and partly results in the loss of ethics and values in several trading transaction systems. This research is a field study at several traditional markets in Tembilahan, Indragiri Hilir, Riau, an area called "Negeri Seribu Parit". The analysis uses a descriptive-qualitative approach from observation data, documentation, and interviews. The results showed that the traders in the Tembilahan traditional market had diverse ethnic backgrounds; where there was a majority of Malays from the Riau area, some were Minangkabau, then there were the Bugis, Makasar, Banjar Borneo, and what was unique was that there were very few Javanese. Even so, so far, the Javanese are very much found in several regions of Indonesia. Many traders in the Tembilahan traditional market still practice Islamic economic values and ethics. First, most of these diverse ethnic groups have an Islamic background, so understanding and teachings are still inherent in every behavior. Second, traditional markets that still survive are classified into different segments, such as the fish market, dawn market, squat market, and others, so that the value of competition in the modern market often "allows all means" to get as much profit as possible can still be controlled by the association of traders, and the local government.

The geopolitics of supply chains: EU efforts to ensure security of supply

AbstractRecently, the EU launched a number of initiatives to prevent the weaponising of supply chains and build resilience against interruptions. This article explores attempts to ensure security of supply in three sectors: semiconductors, pharmaceuticals and critical raw materials. The analysis contrasts the measures taken in each sector in order to highlight commonalities and explain differences in approach and impact. This comparison of the EU's three principal policies for mitigating supply chain disruption shows the EU has equipped itself with more policy tools in the area of critical raw materials. The argument put forward to explain this prioritisation is that the weaponisation of critical raw materials has already taken place and risks stoking a political backlash against the EU green deal. Consequently, the evidence shows how the EU's geoeconomic hedging marks a move away from an overriding commitment to free markets as part of the postwar liberal international order. Rather, the EU is experimenting with market‐directing mechanisms involving state aid, stockpiling and regulatory interventions in the name of security of supply. This change illustrates not just the fraying of the liberal international trade order but also the part that the EU is playing in this transformation.

금사업자, 스크랩등사업자에 대한 조세특례 제도의 일몰(日沒) 종료에 따른 시사점과 법적 문제

The Act On Restriction On Special Cases Concerning Taxation has established the ‘Special Taxation for Payment of Value-Added Tax by Purchasers of Gold-Related Products, Scraps’ to fundamentally prevent tax evasion and disrupt the market's trading order, and also created a ‘Deduction of an input tax amount for scraps, etc.’ to expedite the settlement of the Special Taxation for Payment of Value-Added Tax by Purchasers. This entails deducting the tax amount for the increase in import amounts, etc. Although this Deduction of an input tax amount for scraps, etc. sunsetted on December 31, 2023, after termination by the sunset clause, it is considered necessary to improve the ‘Special Taxation for Payment of Value-Added Tax by Purchasers of Gold-Related Products, Scraps’ itself to ensure the continued promotion and maintenance of trade activation in the gold and scrap markets through value-added tax payer payments. It is necessary to induce smooth taxpayer cooperation by improving the system in the direction of reducing taxpayer cooperation costs. As specific improvement measures, suggestions include: ① reducing the difficulty of account management by assigning dedicated accounts by target business rather than item-specific accounts as current practice, ② limiting the compulsory use of dedicated transaction accounts to pay the value-added tax amount, without forcing the deposit of product values, and ③ proposing flexibility in the value-added tax payment date by not mandating the deposit of the value-added tax amount until the day after the date of supply.

The Cooptation Dilemma: Explaining US Contestation of the Liberal Trade Order

Abstract While the United States (US) acted as a liberal hegemon in setting up the Liberal International Order (LIO), it is increasingly contesting the inclusive legacy institutions underpinning the LIO and is instead moving towards alternative, more exclusive institutions. Why is the US contesting the institutions it once set up to stabilize the LIO? We argue that hegemonic contestation is the result of a reactive sequence that is endogenous to cooptation-based orders where hegemons face a trade-off between inclusion and control. This Cooptation Dilemma is particularly pronounced in strongly institutionalized liberal (sub-)orders, such as the international trade regime. It unfolds in three stages: Privileging control, the liberal hegemon first creates exclusive institutions, which are likely to breed contestation by excluded states. To tame their contestation, the hegemon secondly includes previously excluded states into the order, making the previously exclusive institutions more and more inclusive. To compensate for the related control loss, the hegemon finally promotes alternative, more exclusive institutions, successively turning away from the inclusive legacy institutions. We demonstrate this reactive sequence by tracing the process that led to the US contestation of the World Trade Organization (WTO). Our findings suggest that cooptation-based orders in general and strongly institutionalized liberal orders in particular are prone to dynamic instability.

Trade Protectionism and International Trade Policy Study

In the context of globalization and the close interconnection of economies, international trade has become a key driver of economic growth and global cooperation. However, the resurgence of trade protectionism has posed a series of challenges to international trade. The trade war between the United States and China stands as one of the most prominent cases of international trade friction, providing a valuable empirical scenario for the study of trade protectionism and international trade policies. This paper begins with an overview of the US-China trade war, including the development of trade relations, the scale and structure of trade between the two nations, and the causes and key issues of the trade war. Subsequently, the article reviews the theoretical underpinnings of trade protectionism, focusing on the concepts and forms of protectionism, as well as the motivations behind it. Through the analysis of the US-China trade war case, the paper examines the direct and indirect impacts of this trade conflict on the economies of both countries and the international trade order at large. The research finds that while trade protection measures may benefit certain countries or industries in the short term, such practices are likely to harm the overall interests of the global economy in the long run, increasing uncertainty and instability within the international community. Finally, based on the current state of international trade, this paper proposes a series of strategies to address trade protectionism and offers insights into the future development trends of a new international trading system and international trade policies. The article emphasizes that in the face of the challenges posed by trade protectionism, the international community must work together through dialogue and cooperation to find long-term solutions to global trade imbalances, thereby promoting the shared prosperity and development of the world economy.

Article: Friends and Free Trade: How Indo-Pacific Countries Can Leverage the QUAD and I2U2 in Friendshoring

Recent disruptions in international relations and the international trading order have given rise to new innovations in the ways countries trade. In this regard, friend-shoring is emerging as a means to recast entrenched global supply chains in a manner that favours friends and allies. Through this paper, we seek to explore how Indo-Pacific countries particularly India, the United Arab Emirates (UAE), Japan, Australia and the United States (US) can use friendshoring to integrate itself into global supply chains. Particularly, we focus on how these countries can leverage ‘minilaterals’ such as the Quadrilateral Security Dialogue (QUAD) and I2U2 (India, Israel, UAE. US) to collaborate on traditional as well as emerging areas of trade and gain from the strengths of these trading partners. In doing so, we look at free trade agreements (FTA) and regional agreements that exist between these countries, to examine if the same may be channelized to further friendshoring. We also study major collaborations that are taking shape amongst these countries. friend-shoring, QUAD, I2U2, IMEEC, minilaterals

The origin of return correlation networks

Abstract Financial networks are constructed from asset price comovements. There is a large literature that takes these networks as given, for example, for portfolio optimization. But what exactly is the origin of these networks? We exploit a unique database with matched asset price and order imbalance data, allowing us to observe the trade orders placed and reveal excess demands along with the resulting prices. Empirically, we find that order imbalance comovement has a positive and statistically significant effect on return comovement. Filtering out the latent market factors from both order imbalance and return leads to a drastic drop in explanatory power. We infer that the market factor of order imbalance is the primary driver of return comovement—robust to model specifications as well as fixed effects. We present complementary results with market volatility and the decomposition of traders in terms of strategic heterogeneity. Our work brings forth the role of order imbalance networks in explaining asset return networks.

Reasons for the Development of GATT into WTO and Changes in Institutional Features

With the continuous development of economic globalization, the formulation of rules and order of global economic trade is paramount. This paper applies the rational design model of international institutions to explore the institutional features of the development from the General Agreement on Tariffs and Trade (GATT) to the World Trade Organization (WTO) and the formal differences between the two institutional arrangements from the perspective of developed and developing countries as fixed actors. WTO has a more enormous scope of issues, a more symmetrical degree of control, and a higher degree of centralization than GATT. By examining the cooperation difficulties faced by GATT and WTO in distributional issues, distribution of power among actors, and enforcement issues, the paper explains the reasons for the formation of new institutional features in the evolution of GATT to WTO. The paper also has particular guiding reference significance on how to save WTO from the current reform dilemma with the aim of a more important role in global economic development and liberal commerce.

Information Content of Book and Trade Order Flow at Different Volume Time Scales

Information Content of Book and Trade Order Flow at Different Volume Time Scales

Automated Passive Income from Stock Market Using Machine Learning and Big Data Analytics with Security Aspects

With the evolution of Machine Learning, the Internet of Things (IoT), and Big Data Technologies, digital data has increased exponentially. To handle and process such a large bunch of data, high-performance computers are used across various fields. One of the fields has been the financial capital market of stocks, bonds, commodities, foreign exchange, and cryptocurrencies, where supercomputers essentially trade securities with high computational ability and intelligent algorithms. Large financial institutions with significant capital spend a lot of money on programmers and data analysts to develop the best accuracy trading algorithms to drive the overall market. A novice trader or investor with less to no experience in financial markets feels it difficult to search for good trades or stocks to invest their hard-earned money on a short to long-term time horizon. They rely on expert advice for stock recommendations and sometimes end up making significant losses. This paper focuses on developing a universal trend trading indicator that can analyze and predict the overall future trend of any stock, bond, commodity, forex, or cryptocurrency with the highest possible profitability. The historically traded extensive dataset of stock prices and investment reports of large financial institutions worldwide are gathered. Various machine learning and decision-making models are employed to perform technical and fundamental analysis across multiple securities. The output of the trend trading indicator is displayed on charting platforms, which can provide entry-exit levels at which even novice investors can decide where to invest their money. Multi timeframe analysis is deployed to predict short-term, mediumterm, and long-term overall trends, thus increasing the output accuracy. The indicator is helpful for all kinds of retail traders and investors worldwide who struggle to earn profits from financial markets. Our proposed system was able to achieve a profitability of 86.28% annual returns. The entire system, along with the trading orders, is automated so that anyone can earn extra passive income every month from the stock market.

Safeguarding Consumers: The Role of Industry and Trade Office in Countering Monopolistic Practices and Ensuring Business Protection

This research investigates (1) the significance and function of the consumer protection and anti-monopoly division within the Industry and Trade Office in supporting business entities, and (2) the measures that the Industry and Trade Office should adopt moving forward to address regulatory needs, particularly concerning anti-monopoly and business competition, in Kendari. This study employs Conflict Theory and Symbolic Interaction Theory as its theoretical framework. The findings reveal that (1) the relevant division plays a crucial role in conducting Consumer Protection Socialization as a program managed by the Industry and Trade Office of Southeast Sulawesi Province, involving business entities, consumers, community members, and university students; (2) activities centered around consumer protection and anti-monopoly implemented by the relevant division are as described by the Head of the Consumer Protection and Trade Order Division: The Consumer Protection Monitoring System serves as a medium for consumer complaints and information related to consumer protection to be integrated into the system at the Provincial Office responsible for trade, aiming to enhance service to consumers in lodging complaints from those who feel wronged.

Моделювання системи інтелектуального прогнозування торгів на фондових біржах

The article highlights the reasons for changes in the price quotations of financial assets on stock exchanges. The article models the process of a situation when a trader fixes the period of holding his trading position. It defines periods of buying and selling and, taking into account that high-frequency stock trading on ultra-short intervals shows low profitability, introduces an important condition that allows a stock trader to freely open and close trading positions during the entire period of buying and selling with consideration of the proposed restrictions. The article offers modelling of the trader's strategy of carrying out trading actions aimed at maximisation of profit. Taking into account the liquidity constraints and quantitative limitations for trading orders, the article proposes to determine the optimal high-frequency trading strategy for buying and selling by a trader, which can be formulated as the task of minimising the cost of trading orders. Based on the number of available exchange trade orders and the values relative to the respective trade order at specific moments, determining the optimal high-frequency trading strategy for buying and selling a trader can be reduced to solving a simple cost minimisation problem under the given conditions of liquidity constraints for each trade order, completion of the trading portfolio without active positions before the end of the period and the total number of exchange buy and sell transactions. The key phases in building the structure on which the stock trading strategy itself is based are described. The need to determine what data will be entered into the algorithm of the artificial neural network based on the input data and to determine which algorithm will be used for a particular task is established. The structure of the software model of the system for intelligent forecasting of trading on stock exchanges is designed. The complex of the automated trading system includes the development of a graphical display of quotes and a tool for visual analysis. At the same time, information about proven trading strategies can be stored in a database that can be added and deleted by traders in the developed intelligent system for forecasting trading on stock exchanges.