INTERNATIONAL TRADE FINANCE LAW Essay Example | Topics and Well Written Essays - 3000 words

INTERNATIONAL TRADE FINANCE LAW - Essay Example Buy-back and the countertrade, are long-phase trade agreements with the mutual trade flows happening at varied phases of the period. Where readily viable credit facilities and readily acknowledged forms of money exchange are available, markets eschew inefficient and cumbersome countertrade transactions. However, due to governmental restrictions on operation of markets and due to international liquidity issues have motivated many nonmarket economies ( NMEs) and majority of the less-developed countries and industrially developed nations, to usher â€Å" creative â€Å" business transactions that bypass the normal exchange medium of contemporary markets2. It is estimated that about 25 to 30% of international trade are carried through unofficially by way of countertrade or barter system and various empirical evidence prove that whenever there is a financial or economic crisis, there is an increased practice of these kinds of trade. As per Aggarwal, government may persist on countertrad e to safeguard or to kindle the output of domestic industries. This kind of protectionism may kindle counter-purchase or offset deals which in turn may facilitate to purchase much required skills to develop the economy further. According to Lecraw, countertrade practices can be employed to override other guises of protectionists’ trade policies and finally the government policies which attempt to balance and plan its foreign trade, may involve statutory countertrade3. From what has been mentioned above, this research essay, an earnest attempt will be made to find out the legal principles involved in the financing of countertrade transactions in the international oil and gas business with a particular emphasis to whether the present law is adequate to support business in this province with decided cases on the subject, in order to discuss the issue adequately before coming to a conclusion. Legal Principles involved in Countertrade The legal principles in the financing of count ertrade transactions 1. Discrimination principle As per IMF estimates , the countertrade is presently employed by half of its members and is viewed as a guise of exchange restriction and trade which is especially condemned in cases of debt rescheduling by a member nation as in the case of Romania in 1982-1983. In the countertrade , the export revenue will not be distributed fairly and hence there is a legal principle of discrimination exists in countertrade. 2. Protection of domestic industries The WTO Anti-Dumping Agreement states that Member nations may levy anti-dumping duties, where dumping is considered to create ‘material damage’ to the domestic industry. countertrade is frequently said to be means of destabilising or evading anti-dumping law, because countertraded goods lack a translucent, arms-length export price. Hence , countertrade has the legal principle of offering no protection to domestic industries . 3. Consultation principle Countertrade like any other export or import transactions includes negotiation of disputes through alternate dispute mechanism like arbitration etc. 4. Stable basis of trade Countertrade helps to maintain stable prices during the period of extreme exchange volatility and also helps to attain a stable export revenue for a nation. 5. Types of letters of credit framework of agreement obligations Letter of Credits are significant in countertrade transactions concerning parallel L/Cs and are also significant to make sure payment on

Media influences Essay Example | Topics and Well Written Essays - 2000 words

Media influences - Essay Example It is through previously established theoretical traditions and research methodologies developed in countries all over the world that enable us to form knowledge and opinion about different elements within the media. The theoretical conventions include those f the American 'Empiricism', European Critical Theory, Western 'Marxism', British Cultural Studies, Political Economy, and French Structuralism and Semiology. Investigating these methodologies, along with exposure to media itself, can assist us in understanding the relationship between the text, the producer, and the audience, and therefore make sense f the political, economic and cultural meaning f everyday life. The worth f media studies itself includes the preparation for media practice, as well as the preparation for skilled reception by the audience, which we are all a part of. For this reason, media studies in society is a vital skill which will continue to be relevant well into the future. Media studies allows us to examine elements f the media and its affect on audiences, whilst investigating the influences that make up the media that we are familiar with. Cunningham and Turner describe briefly the way in which media shapes our way f thinking and allows us to further our ideas and opinions on particular issues. "We learn about world politics from our newspapers, radio news broadcasts and TV; while we may be aware that the views we receive are necessarily brief and partial, they play an important part in our conception f the world." (The Media and Communications in Australia, 2002) It is difficult to determine exactly how he media affects its audience, as the results are different between individuals. For example, drug use in a movie may deter someone from wanting to use drugs, whilst tempting another to try them. This shows how vital it is to study the media and the particular ways in which it affects its audience. It is essential that we continue to try and make sense f exactly how the media influences our society in order to prevent negative effects. When doing this, we should look into theoretical traditions f media is history such as the American 'empirical traditions and Western 'Marxism' J.B Thompson states his ideas about the important role media plays in self-formation, "individuals are able to gain access to new forms f knowledge which are no longer transmitted face-to-face."Individuals' horizons f understanding are broadened... shaped increasingly by the expanding networks f mediated communication." (The Media and Modernity: A Social Theory f the Media, 1995). This proves the importance f media in everyday life in our society. We are assisting in shaping our own ideas and opinions through the media, in much the same way that we are influenced by people around us. When speaking f such influences, we must examine further the specific elements f everyday life and the way in which theoretical traditions have influenced how we think f the media to this day. Politics are all around us. Political issues can exist in the workplace and at home, as well as in our local, state and federal governments. The general public relies on the media to communicate political messages that could possibly effect how society is run. Unfortunately,