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ADM3318 International Business

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ADM3318 International Business

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Choose any one Topic for your Essay from below. Follow guidelines indicated in the course curriculum. 1.The Globalization of Trade, Trade Theory: It has taken all of 4 weeks to spread panic across the globe, with businesses getting shut and people staying home. Interestingly, oil was still being transported, foodgrains were still being shipped, laptops were being manufactured, chip makers were making chips and the call center in Philippines still responded to your query. Two words that suddenly captured everyone’s attention – supply chain (clearly connected with trade!). The world has coped and appears to be coping without major hiccups in the ‘supply chain’ so far. The aftermath of Covid-19 presents a global scenario rife with opportunities and risks for trade, businesses, society and people. Does Covid-19 experience strike at the root of international trade? The fact is that supply chains continued to perform. The issue of supply chain and trade – is it an issue at all for the 190+ countries? Or, is it relevant to a handful of countries? Does Covid-19 experience strengthen the need for even more international connectedness of economies, perhaps with more Plan-B’s? Perhaps build redundancies. What kinds of challenges can one foresee? What implications can we think of going forward for nations? 2.Trade Theory, Political and Economic Ideology : Most free societies have held up a model of minimal government intervention in business and economy. This has gone hand in hand with certain political ideologies as well. In recent times, Governments all over the world have been forced to respond to Covid-19, initially as a health crisis and soon enough as a potential economic catastrophe. Normally, a crisis would have resulted in the government ‘announcing’ certain responses which invariably would get lost in everyday babble. This crisis however, has touched everyone and forced governments to do things not conceivable so long. Banks deferring mortgages, rights of eviction from homes being curtailed, rights to ‘increase’ rents curtailed, rights of employers to ‘fire’ and not pay wages impacted or curtailed, controls on distress sales of real or perceived ‘sovereign’ assets in some countries, regulations on ‘how’ to do business, closing business and many other nuanced controls. Society has been impacted. This is true not just in completely ‘free’ democracies as also in ‘not-so-free’ countries. Many countries across ideologies have responded similarly. In short many ‘rights’ have been impinged upon as well. There are many learnings from the behaviour of these governments/countries. What can you make of the differences and appropriateness between the political and economic philosophies of countries in the context of business under such circumstances? In the current interventionist backdrop, in your view, what kind of role should the government play

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