Good Research Paper Topic
Competitive Forces in Global Market
Globalization has opened many
frontiers. With this the superpower is now open to many
challenges, be that of internal or external. After years of
prosperity and growth, the US economy now faces recession, which
is not yet over no matter what the American economists say. This
opulence in the past decades have been due to the strong dollar
policies which have helped the business to grow in terms of
exports and hindering the imports in the country. But just a
year before the businessmen in the region was crying for a
flexible dollar policy.
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We are competing now not with the recently developed nations but
Asian tigers and the bunch of Europeans nations, and the
emerging of new industrialized nations have worsened the
situation and made the global market more competitive. We might
be very good in providing services, cutting back costs and
economies of scale. We might have a very flexible nature when it
comes to the negotiations with oil rich countries and the
technologically improved nations. We might retain some grounds
in the area of science and technology, but for how long. Our
dominance is being challenged by the world’s increased supply of
talent, especially by the industrialized democracies of Western
Europe, Canada, Japan, Mexico, Brazil, South Korea, the People's
Republic of China, and Israel.
There is a saying that when in 10,000 persons America produces 4
doctors, 5 accountants and 7 engineers: Japan produces from
every 10,000 persons 7 doctors, 3 accountants and 400 engineers.
If this is reality, we cannot survive much longer. America is
seen as the world sufficient nation in every aspect. Its
production is for its own people and also the exports are world
competing. It has tried to put tariffs and quotas especially of
steel imports and has agonized its true friend recently just to
cover the trade deficit. But globalization forces the open
frontiers.
The aim of the current wave of free trade agreements has been
the mutual lifting of trade barriers among nations, irrespective
of the countries' level of development or special national
interests. The dominant parameter has been the theory of
"national treatment," which means that governments should be
required to treat foreign investors, investments, and products
the same as their national counterparts. However, the trade
liberalization should not be an end in itself for which
everything else must be sacrificed. Instead, market access for
foreign competitive products and investments should be evaluated
and defined within the framework of national development plans.
At the present time, the basic hindrance to admittance in the
developed countries’ markets is not tariff barriers, but
"technical barriers to trade."
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The U.S. economy has grown steadily for straight eight years
with low inflation, lower unemployment and interest rates.
However, it is assumed that foreign trade is not good for the
U.S. economy because cheap imports hurt wages and jobs. A few
believes that trade is good for the economy, creating foreign
demand, economic growth and jobs.
The strong U.S. dollar has lifted the price of our exports to
foreign nations and lowered the price of their imports. The
result is that Americans spend about $1 billion more than they
do produce and the US trade deficit has enormously expanded. For
example, the steel industry has been hurt especially by the
strong dollar. In 1998 the flood of imported steel primarily
from Japan, South Korea, Brazil and Russia has caused steel
firms downsize and push these firms near bankruptcy. The
Commerce Department raised tariffs and restricted imports in 45
steel cases. Although imports of steel fell in 1999, imports
have once again risen to near record levels.
This show that though we are open
to challenges but one must not seek trouble. While our trade
pacts compel us and make us vulnerable to external forces, to
open and reduce our trade barriers, there is only one thing by
which we can manage to compete and compete strategically in the
global arena. As there is a marketing principle, attributes can
be copied, but it takes along time to copy values. Just as
Saturn created values and projected American culture, beating
Japanese compact cars, similarly, in the global frontier we can
strategically compete by building up the values which would be
hard to copy in the long run.
Works cited
People's Summit, Facing the Challenges of Globalization: Equity,
Justice and Diversity, 2000
Calmes, Jackie: Despite Buoyant Economic Times Americans Don't
Buy Free Trade, The Wall Street Journal, December 10, 1998.
Hagan, George: "Bush plays free-trade game," USA Today, May 2,
2002.
Palmer, Doug: New Import Limits on Steel Are Sought, The
Washington Post, October 17, 2000.
Madrick, Jeff: Economic Scene, The New York Times, January 18,
2001.
Melby, Eric D.K. It's "Hanging Together" Time Again
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