In: Advanced Math
• Here In the context of global legal environment, some of the
legal considerations regarding international trade, mainly center
on the economic welfare of the various individual entities involved
in international trade of various goods and services.we can say as
some examples consumers and producers/manufacturers of various
goods and services in different countries. legal restrictions on
international export by any country might adversely impact the
export revenue of the domestic export based companies or
organizational entities in that particular country thereby reducing
the overall economic welfare of the domestic exporters but the same
trade limitations can now economically benefit the domestic
producers or sellers in the importing countries due to relatively
less competition in the global market. Alternatively, any legal
restrictions on import of goods and services by any country would
consequently benefit the local producers or companies again due to
comparatively less competition or rivalry in the international
market thereby raising their overall economic welfare but on the
other hand, it will negatively impact the economic welfare of the
exporters in the exporting countries caused by a decline in the
overall export volume and export revenue. Now the legalization
international business and commercial contracts essentially
involves various factors or considerations such as transparency of
the concerned contract and the respective terms and conditions
incorporated into it, unambiguous and thorough understanding of the
contractual terms and conditions by the respective parties or
entities involved in the contract, the equity and fairness of the
business or commercial dispute that is under the main
consideration, safeguarding the rights and prerogative of the
concerned contractual parties or entities as recognized under a
common international law or judicial procedure, and so on. For
example, during any commercial or business dispute between multiple
international business entities a foremost legal consideration
would be to refer to the concerned international contract law or
mandate and recognize with abolsute fairness, any violation of
rights or prerogatives of any of the concerned entities or parties
and then determine the verdict accordingly. Therefore, it is
extremely imperative for any international business contract law to
upheld legal fairness and transparency to the utmost and make sure
that it safeguards the legal rights and prerogatives of the
international business entities and organizations.
With regards to employee or labor rights and human rights issues
pertaining to their fair treatment by the busines organizations or
companies, it is extremely important to make sure that the
fundamental human rights and preoragtives of the
laborers/workers/employees employed by the international business
organizations or companies are respected and implemented to the
utmost consideration and the workers or employees must be entitled
to undertake necessary legal or judicial actions following
violation of the same based on proper and fair evidential support.
In this regard, some of the basic considerations commonly include
safe and healthy work environment for the workers/employees in any
international organization or company, proper hyegene and
cleanliness of the work environment, providence of sufficient
breaks or recess to the workers/employees, work-related physical
injuries or casualties of the workers/laborers and providence of
fair and adequate legal compensation by the company, proper and
satisfactory maintenance of the safety standards in the wor
environment as mandated by the international labor laws pertaining
to human rights, and so on. Therefore, the fundamental judicial or
legal basis of international labor laws and human rights mainly
concerns all these important aspects related to employee or worker
welfare and progress. Now, prohibitive activities from the
perspective of international business and commerce, evidently
involves wide range of issues such as animal rights, human rights,
unfair and antitrust market activities, unfair manipulation of
various economic tools and policy mechanisms of any country that
can detrimentally affect the economic welfare of various commercial
entities in the international market, and so forth. For example,
many economists and political activists oppose the currency
manipulation(forcible devaluation of Chinese Yuan with respect to
other international currencies) of the Chinese government to gain
unfair economic advantage in the international market thereby
expanding the export of the Chinese goods and services in the
international market and maximizing export revenue. This would
negatively impact the economic welfare impact of the competitors or
export organizations or companies in other countries thereby
disruption the economic efficiency of the international export
market. Hence, one of the legal considerations of any prohibitive
activity in the international commercial market evidently pertains
to unfair and unscrupulous market practices that might inequitable
impact the economic welfare of the other concerned market entities.
Additionally, many of the animal rights activists and organizations
around the world oppose unfair killing of various animals for the
production or manufacturing of various goods and services by
international business organizations or companies mainly on moral
or humanitarian grounds and demand legal or official or abolishment
of businesses/goods/services using animal organs.
Thank you so much sir