Download Political and Legal Environment: Impact on International Business and Trade and more Assignments English Language in PDF only on Docsity! Today we're going to discuss in this lesson is the Political and Legal Environment. So, let’s see, firstly how political and legal affect the international business. Consider the following effects of politicians on marketing. (nee an emphasis on a country’s interests before everything else—affect how macro-marketing systems work. The important factor in assessing business climate is nationally stamped said is an awakening of Nations people to pride in their country. This pride can lead to anti-foreign business sentiment in the nation feeding some nationalism can be manifested in a variety of ways such as the reaction of the American people and business to bet Muslim nations following 9/11 war or recession can create feelings of nationalism as well. Other ways that nationalism can manifest itself is in trade policy such as restrictions on imports from search from the counter. e.g. Recently we have a cooperation to exchange vaccines against COVID 19, we can see a lot of reactions of some people rejecting vaccines from China. It is the development of international trade networks that regional groups also become important. The move toward the unification of Europe and free trade among the nations of North America is an example of this sort of regional grouping. EX: The G7, G8, and G20 are all international forums around the world and aim to discuss important economic issues, promote policies related to stabilizing the international financial situation as well as guide the development of the global economy. The unification of European markets Twenty years ago, each country in Europe had its own unique trade rules and regulations. These differences made it difficult and expensive to move products from one country to the others. Now, the member countries of the European Union (EU) are reducing conflicting laws, taxes, and other obstacles to trade within Europe. This, in turn, is reducing costs and the prices European consumers pay and creating new jobs. Although Europe is becoming a large unified market, marketers will still encounter differences among European countries. e.g. Prime Minister Pham Minh Chinh received EU Ambassador, Ambassadors of the EU Member States, and reps of the European Chamber of Commerce (Eurocham). EU diplomats and business CEOs affirmed Vietnam is still an attractive investment destination with strong development potentials in the coming times and expressed determination to continue promoting and further developing long-term investment and business activities in Vietnam. Wiz is building trade cooperation The North American Free Trade Agreement (NAFTA) lays out a plan to reshape the rules of trade among the United States, Canada, and Mexico. e.g. It can be said that Vietnam's participation in APEC over the past time has brought many positive impacts to the growth and development of the country in many aspects, contributing to strengthening the image and position of
