Fo Chapter 6 ws Hour Answer the following chapter review questions. Make sure to
ID: 375710 • Letter: F
Question
Fo Chapter 6 ws Hour Answer the following chapter review questions. Make sure to respond in complete 1. What is international law? 2. One of the first issues the chapter addresses is the rule of law. Explain this concept's importance to an al and Fin international manager 3. Describe approaches to international dispute settlement. 4. How are antitrust laws enforced? 5. How might U.S. taw affect international managers? 6. Explain the principles on which The Economist's Big Mac index is built, and comment on its use to international ia and Pa globalEDG managers. Module odule 2 Ter 7. Briefly review the appeal of the gold standard, and comment on why it is not presently in use. 8. What are currency exchange controls, why are they used, and how might they influence the international manager located in an exchange-controlled environment? 9. Your firm operates in Seattle and is signing a contract to supply advisory services to a design firm in Your payment is 50 percent on contract signing and 50 percent on completion, which is two years out. Would you want your payment in dollars or yuan/renminbi for today's portion? What about the portion on completion? Why? In th Assignment Submission area, click Write Submission to type your response, or copy and paste your response into the screen. You may also click Brouse My Computer to attach a file containing your response.Explanation / Answer
1. United Nations organisation has established a body of international law which upholds the conventions, treaties and standards that promotes economic and social development among the countries that formthe UN. It also helps in maintenance of peace and security among the nations. The codification of the laws under International Laws falls under the purview of the International Law commission which has 34 members who represent the worlds principle legal systems and serve as experts in their inividual capacity.
A wide range of issues are addressed by the commission and they colaborate with committees of the Red cross, International court of justice, Other UN specialized agencies, etc to regulate relations among states.
2. Rule of Law: This is a principle that stands by the statement that every nation is governed by laws and not by the decisions that the government takes. In an international business, a manager should abide by the rule of law that are publicly applied and enforced and that are consistent with international human rights norms. Rule of law enforces a sustainable development and economic oppurtunity and therefore an international manager should realise that the rule of law is a culure and should be bought into daily practice.
3. International dispute settlement is a means to settle any disputes between member nations ina peaceful manner. The UN charter does not prescribe in which way the disputes need to be settled. But there are guidelines in Article 33 of the UN charter, that suggests different methods by which disputes can be settled including negotiation, enquiry, mediation, concillation, arbitartion and lastly judicial settlement.
4. Antitrust laws are meant for promoting and protecting competition. They are a set of statutes that were developed to regulate competition between companies and to enforce fairness in businesses. It spurpose is to protect not only competitors but also consumers from becoming a target to greedy business owners as the competitors' are competing for the same consumers.