Prior To Beginning Work On This Discussion Forum Revi 438003
Prior To Beginning Work On This Discussion Forum Review The Websitesla
Prior to beginning work on this discussion forum review the website SlackLinks to an external site. . Use SlackLinks to an external site. to communicate with your foreign student research partner(s) and explore the trade environment of the foreign marketplace for the final paper. Foreign marketplace is London with Dr. John Doe at Mayo Clinic. Incorporate the following elements into your research and ask your research partner to comment and provide feedback on your research: Current trade environment with the United States. Current trade barriers (non-tariff and tariff). Review the target country through Porter’s diamond model. Review ethical dilemmas of exporting to the foreign target market (see Chapter 5 Emerging Markets, section 5.1 Expanding UK Exports in Russia). Evaluate the foreign direct investment (FDI) environment and potential for ownership, location, and internationalization (OLI) advantages. Prepare a brief synopsis of your partner research. Your initial post should be 200 to 300 words. You should use at least two credible and recent sources your post must be organized using APA Style.
Paper For Above instruction
The trade environment between the United States and the United Kingdom, particularly focusing on London, presents a dynamic landscape influenced by various economic and political factors. As the US and UK maintain a close economic relationship, it is essential to examine current trade policies, barriers, and the overall trade climate to facilitate effective foreign market entry strategies (Office of the United States Trade Representative, 2023). One notable aspect of the trade environment is the presence of non-tariff barriers, such as regulatory standards and customs procedures, which can complicate imports and exports between the two nations (UK Department for International Trade, 2022). Tariff structures are relatively reduced due to existing trade agreements; however, ongoing negotiations continue to impact trade flows.
Using Porter's Diamond Model to analyze London's trade environment reveals several competitive advantages. The UK's sophisticated infrastructure, skilled workforce, and advanced financial services sector provide a strong foundation for international trade. Additionally, the country's institutions and regulatory policies support innovation and ease of doing business (Porter, 1990). Ethical considerations, particularly related to the export of medical products or healthcare services to the UK, include navigating legal compliance, preventing exploitation, and ensuring equitable access in a market with high regulatory standards (Luo & Tung, 2018).
Foreign Direct Investment (FDI) prospects are promising given London's status as a global financial hub, providing numerous advantages for ownership, location, and internationalization. The OLI framework suggests core advantages include control over technology and branding, strategic geographical location, and the ability to leverage local market knowledge (Dunning, 1998). Overall, understanding these components enables a comprehensive strategic approach to entering the UK marketplace effectively.
References
Dunning, J. H. (1998). Explaining international production. International business review, 7(2), 153–171.
Luo, Y., & Tung, R. L. (2018). International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 49(4), 369–380.
Office of the United States Trade Representative. (2023). U.S.-UK Trade Relations. https://ustr.gov
Porter, M. E. (1990). The competitive advantage of nations. Free Press.
UK Department for International Trade. (2022). Trade Barriers and Incentives. https://gov.uk