Corporate Responsibility And Globalization Of Foreign Trade

INST 4000 Thesis Ximena de la Camara Campuzano Corporate Responsibility and Globalization Liberalization of foreign trade: Some of the biggest issue s in today’s economy is the push for liberalization of foreign trade in developing countries. By compelling nations to modify and ease their trading systems so it can be free from regulations while promoting free trade, only weakens their authority. Trade liberalization needs the reduction of governmental restrictions and intervention so the trade between nations has little or no obstacles like tariffs. Absolute free flow of capital with minimal restrictions promises developing nation’s growth under these systems by having more money for the intent of investment and trade. But what it is not often discussed is how it is necessary for some to suffer in order for others to succeed. Examples include low skilled workers who are under paid and employed by multinational corporations. When large companies move into developing countries they tend to get in the way of domestic policies and in some cases bribe their officials to get their way. Walmart in Mexico paid bribes in order to obtain permit to build stores in Elda Pineda’s alfalfa field, less than a mile away from its ancient pyramids. The problem was that the government wanted to limit growth around the pyramids to prevent any damages. After executives were contacted in the main headquarters in Arkansas, they closed the investigation and did not inform law enforcementShow MoreRelatedReflect of Globalization on International Business1485 Words   |  6 PagesGlobalization refers to the increasing unification of the worlds economic order through reduction of such barriers to international trade as tariffs, export fees, and import quotas. 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