Monthly Archives: December 2017

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Marketing Concepts Globalization and World Trade

The Concept of Globalization Marketing and World Trade, and to organizations that promote the freer world trade. Such opposition may come in the form of certain government interventions. There are several reasons for such opposition. First, certain occupations and industries need to be protected from foreign competition (Hill, 2004). The United States provided protection to key industries such as automobiles, machine tools and steels in the form of Voluntary Export Restraints (VERs) in the 1980s, which also protected jobs (Hill, 2004). However, such a move is not justified because the price of this product turns out to be higher than the world price by reducing foreign imports, thereby reducing its global competitiveness (Hill, 2004). Another argument related to the opposition is the need to protect the baby industry with the appropriate tariffs, import quotas and subsidies until they are developed enough to compete on the global stage (Hill, 2004). However. read more »