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homework 2 - Jennifer Solomon International Business...

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Jennifer Solomon International Business Chapters 4,5 Chapter 4 1. We can look at the new institutional theory as the “rules of the game”. This sets rules to regulate the regulations of individuals to each other. This would be very important to new entrepreneurs to international business. Just because something is common practice in our culture does not mean that it would be common practice in another culture. Not only is it different laws and regulations but also different customs. If they were not educated they may insult someone they are trying to do business with which could potentially cause them to loose that client. 4. The WTO was established on January 1, 1995 due to GATT not being a completely solid international framework. There were to many loopholes at the time for agriculture, textiles, clothing, and services. By creating WTO it made international trade more clear cut concerning rules. I believe that Bilateral trading agreements would not be fail to the countries not included in the agreement. Obviously if we can trade free from one country we will import and export to them more than the other countries because it will cost more money. I believe that NAFTA does undercut the WTO. I feel this way because it is nothing more than turning your head between a few countries trading. If their main job is to make sure trading is fair how they could allow free trade between certain countries but not others. 9. The EU can tax member nations directly and implement legislation directly in each of
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This note was uploaded on 11/01/2009 for the course ACCT 400 taught by Professor Bower during the Spring '09 term at Eastern.

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homework 2 - Jennifer Solomon International Business...

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