CHAPTER 31
International Trade
International trade is the exchange of goods and services between countries. Trading globally gives consumers and countries the opportunity to be exposed to goods and services not available in their own countries, or which would be more expensive domestically.
Benefits of International Trade
- Increased revenues.
- Decreased competition.
- Longer product lifespan.
- Easier cash-flow management.
- Better risk management.
- Benefiting from currency exchange.
- Access to export financing.
- Disposal of surplus goods.
Disadvantages of International Trade
Shipping, customs and duties: International shipping companies like FedEx, UPS and DHL make it easy to ship packages almost anywhere in the world.
- Language barriers
- Cultural ...
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