Title The need for new approaches to trade cooperation in light of the forces that are currently re-shaping international business Paper ID PlZXw Keywords international business, currently re-shaping, trade policy, public choice, liberalism, protectionism. \n\ninternational business, currently re-shaping, trade policy, public choice, liberalism, protectionism. \n\ninternational business, currently re-shapin Abstract
Due to technical progress and to the growth of economic ties between particular countries, participants in the world economy, the benefits resulting from liberalised international trade and from the freedom of movement of foreign direct investments become bigger not only for the industrialised countries but also for the so-called “emerging markets”, that is, the countries that find themselves on the stage of the accelerated development. It must be emphasized that there are the need for new approaches to trade cooperation in light of the forces that are currently re-shaping international business. It suggests that the multilateral trading system will need to adjust to developments in trade and in the trading environment. The key of trade developments within the broader socio-economic context is especially the rise of global supply chains, the general shift of trade power away from the West towards Asia.\n What indicates the importance and innovativeness of the research is the presentation of the new models of the foreign trade policy and trade interests. First of all it must underline that in the new theoretical terms in the demand for trade policy very important is factor specificity. The low specificity of factors means that factor returns are equalized throughout a region’s economy. On the other hand some factors are stuck in their present uses; therefore, factor returns are not equalized throughout a region’s economy, but are industry specific. The main objective of the research task is to give a comprehensive analysis of the models of foreign trade policy, trade interests indicated by export orientation and import sensitivity, protectionistic pressures in different political system and different types of authoritarian regimes, the level of protectionistic pressures, the rise of qualitatively new politics in north-south relations like bilateral tendencies. It should be stressed that free trade in itself is not responsible for economic growth, but more significant are the determining macroeconomic stability and increasing investment.
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