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What are the advantages and disadvantages of international trade law?
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International trade law is the set of laws that governs trade between nations. These laws can be created by international bodies such as the World Trade Organization or they can be created by the governments of the various sovereign states.
The major advantage of having international trade law is that these laws can facilitate trade. When there are laws that are harmonized and coordinated (rather than conflicting with one another) it becomes much easier to trade. Firms trading from one country to another can be more confident that they know the laws that will govern their transactions. This reduces the risk of trade.
The major disadvantage comes not from the existence of the laws but from poorly made or poorly harmonized laws. Problems arise when two countries' laws do not mesh well with one another. This can lead to trade disputes and to less trade.
So international trade law is valuable because trade is valuable. But these laws are not always good because different countries have different laws that may not mesh well together.
Posted by pohnpei397 on March 3, 2011 at 11:18 PM (Answer #1)
international tade law is law that is involved in monitoring trade between nations. It is more poltical because as a lawyer, you wil be negotiating with other nations to remove sanctions to that the exchange of goods between these nations is free and fair. The risk that it might have is on a political point of view especiaaly if you fail to negotiate for the romoval of sanctions.
Posted by nomatamsanqua on March 3, 2011 at 3:45 PM (Answer #2)
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