How Have Changes in the World Economy since 1945 Affected the Essay

How Have Changes in the introduction Economy since 1945 Affected the Strategies of Multinatioanl Firms - Essay ExampleThe ecumenic Agreement on Tariff and Trade have not only made it equitable for each(prenominal) planetary players to be in equal footing with local businesses in a large grocery store but it also made the complicated taxation and tariff levies more simple and standard. The agreement enabled international organizations or entities to sell products at competitive prices that are comparable to the locally produced items. Market discrimination leave not be dictated by price but will be governed by the sophistications of the buyers taste and preference. Other changes in the last sixty years include added protection of the patents of multi-national corporations. harmonisation of International Laws that would include the New York Conventions on Arbitrations that applies to contracts between parties of different nationalities and the Cape Town Treaty that specifically governs international assets of multinational companies. The increased figurehead and respect of the international business community to the International woo of Arbitration have made conducting business in the international market safer and more secure. The available mechanicss and revive to attain justice if not an equitable settlement is now simpler and straightforward. World Trade Organization The World Trade Organization over the past decades have endeavoured to break down deal barriers that impedes the free scat of goods from wholeness awkward to another or even between several countries in an emerging market. Its mend aim is to liberalize and supervise international train to ensure that every member country trade and transact equitably and fairly amongst its other members. It provides a framework in the negotiations and also provides an arbitration mechanism to disputes between countries. One of the basic tenets of the World Trade Organization is the Most Favoured Nat ion Clause that ensures that a country transacting or is engaged in commercial trade in a particular country is given the same treatment as that of its local industry and even its traditional trading partners. To garnish Products of multi-national companies dealing in China should have the same treatment as outlying(prenominal) as its regulation, administration and taxes are concerned with products manufactured within the China. This means that the shelf prices of imported goods should not be far from that of the locally produced products (Bossche, 2005). Multinational companies have capitalized on the new opportunity to expand its market to include the one provided by the other countries where their host or home country has a trade agreement with. The loading of the strategies of multinational companies therefore is to reach a wider market as possible to ensure that market presence for their products includes these new markets. Increased visibility as far as media exposure is c oncerned to ensure that gracility and name recall is associated to positive information about the company and the product they manufacture. General Agreement on Tariffs and Trade The General Agreement on Tariffs and Trade is a multilateral agreement regulating international trade through the substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a common and mutually advantageous manner (Barton, et al., 2008). This translates to the reduction of prices or the equality and standardization of tariff and tax range to all products. The impact of which is the