Reference no: EM133125145

1. Describe the ways in which governments and international bodies promote and regulate global trade.

2. Identify the questions to ask in choosing the appropriate form of ownership for a business.

3. You're a partner in a U.S. engineering firm that's interested in bidding on a water-treatment project in China. You know that firms from two other countries-Malaysia and Italy-will submit bids. The U.S. Foreign Corrupt Practices Act forbids you from making any payment to Chinese officials to enlist their help in getting the job. Unfortunately, the governments of Malaysia and Italy don't prohibit local firms from offering bribes. Are you at a disadvantage? Should the Foreign Corrupt Practices Act be repealed? Why, or why not?

4. Because the United States has placed quotas on textile and apparel imports for the last thirty years, certain countries, such as China and India, have been able to export to the United States only as much clothing as their respective quotas permit. One effect of this policy was spreading textile and apparel manufacture around the world and preventing any single nation from dominating the world market. As a result, many developing countries, such as Vietnam, Cambodia, and Honduras, were able to enter the market and provide much-needed jobs for local workers. The rules, however, have changed: as of January 1, 2005, quotas on U.S. textile imports were eliminated, permitting U.S. companies to import textile supplies from any country they choose. In your opinion, what effect will the new U.S. policy have on each of the following groups:

Firms that outsource the manufacture of their apparel

Textile manufacturers and workers in the following countries:

• China• Indonesia• Mexico• United States

3. American consumers.