International business journal Assignment 2022

RUNNING HEAD: MANAGEMENT 0
International business journal March 2
2020

MANAGEMENT 1
Rule of law and Rule of men
The rule of law is defined as nobody is above the law, whereas the rule of man is
defined, as I am the law. The politicians issue the community where individuals have to react
to the rules and orders which and bureaucrats are known as the rule of men.
The rule of law is not essential for an independent community but it is a mandatory
precondition intended for an independent community (Waldron, 2012).
Rule of men example, US government authorities have issued a threatening warning
to US banks; US officials are compelling the financial institutions that the US administration
does not want them to capitalize in Russian ties (Bingham, 2011). In fact, it is not illicit that
US financial institutions investing in Russian ties. It is fair that US authorities consider
Russia as the enemy and that is why they do not want that any investment should be done.
Rule of law is far better than the rule of men as it inquires exploitation of power by
government. It authorizes individuals with rights, which cannot be effortlessly taken-away. It
treats every individual fairly and equally without any kind of discrimination. It assures that
no one can ever claim that they are above law. Whereas the Rule of men is the nonappearance
of the rule of law. It is a rebounded community, which is rules change from leader to leader
(Dezalay, 2011). It is not bound by any law, which is not right, as high chances of
discrimination will be there.
Trans-pacific partnership
The trans-pacific partnership was a free-trade contract between the United States and
other 11 nations that edge the Pacific Ocean. Most of the profits in earning would have gone
to employees making more than $88,000 a year (Voon, 2013). This agreement contributes to
salary unfairness in high-wage nations. They endorse low-priced goods from low-wage
nations. It protected patents and copyrights. The covenant related to the patents would have
reduced the obtainability of low-priced generics. The major issue was whether china would
willing to use CPTPP in order to avoid the tariffs imposed by the Trump trade war. It
removes the prices of goods. CPTPP covers a comprehensive series of goods and services
like telecommunications, food safety, etc. it has a major effect on foreign policy. I think yes
the US senate should sanction as trade and economic associations are the foundation for the
US influence abroad. As it is more important for the job benefits for the US economy. It will

MANAGEMENT 2
boost access to clean energy technology is a cornerstone of solving the global climate change
problem (Kelsey, 2013). The trans-pacific partnership is very essential its trade deals and
obligating associates to permit employees to form unions, restrict children and forced labor,
improve office circumstances and reinforce environmental protections.
Dollar currency
The US dollar was formally crowned the world’s reserve currency, as it was backed
by the world’s largest gold reserves (Kaltenbrunner, 2017). The currency exchange rate is
one of the essential determinants of a country’s comparative level of economic health. The
elements of exchange rates, the factors are associated with the trading affiliation between the
two nations. The first one is differentials in inflation. The nations with higher inflation
usually see devaluation in their exchange about the money of their dealing associates. The
other one is a solid financial performance. Foreign investors usually prefer nations with solid
financial performance in order to invest their assets. Because of this, the chances of other
countries of funding will draw away. The other essential was the bottom line; the exchange
rate affects other revenue factors like interest rates, inflation, and capital gains. It is the duty
of investors to know the currency values and exchange rates play a vital role in reappearance
on their investments.
A strong currency has advantages like lower inflation; strong currency lowers the cost
of trade in goods, allowing lower prices for customers. This leaves more currency in their
account for local expenses. Although nations usually want a weaker currency in order to
inspire exports and to remain competitive.
Import
Purchasing of furniture such as table chair and sofas, from the method of importation,
regulation charges are always applied to the furniture goods. Using standardized
classification codes makes it easier to check if any restrictions or charges apply. The product
are reasonable, imports usually make a dynamic influence on the UK budget. It can be far
more profitable to import merchandises than to produce them in the UK, giving importers
modest advantages. Most belongings can be trade in with negligible customs control and
mostly, no duty or VAT pay. Some measures should be taken into consideration in
countervailing duties; those are imposed when the imports are originated to cause or
impending serious damage to an effecting domestic industry (Examples of Import, 2018). The

MANAGEMENT 3
international facilities like if an individual visit a hotel in a distant country that can be
measured an import to their home nation. Same as, using computing facilities situated in a
foreign are an import (Examples of Import, 2018). another example is a value-added reseller,
which increases the price to them and then resells them. The company that imports properties
like software and then sell it with the local referring facilities and support. Wholesale could
be considering a good example as a wholesaler who imports goods from numerous
manufacturers to sell to vendors and other dealers.

MANAGEMENT 4
References
Examples of Import. (2018, July 31). Retrieved march 4, 2020, from Simplicable:
https://simplicable.com/new/imports
Bingham, T. (2011). The rule of law. Penguin UK.
Dezalay, Y. &. (2011). Lawyers and the Rule of Law in an Era of Globalization. New York:
Routledge.
Kaltenbrunner, A. &. (2017). The US Dollar's Continuing Hegemony as an International
Currency: A Double‐matrix Analysis. Development And Change, 48(4), 663-691.
Kelsey, J. (2013). The Trans-Pacific Partnership agreement: a gold-plated gift to the global
tobacco industry?. American Journal of Law & Medicine, 39(2-3), 237-264.
Voon, T. (. (2013). Trade liberalisation and international co-operation: a legal analysis of
the trans-pacific partnership agreement. Edward Elgar Publishing.
Waldron, J. (2012). The rule of law and the measure of property . Cambridge University
Press.