Amazon is the largest online market place in the world

Amazon is the largest online market place in the world

1. Amazon is the largest online market place in the world. It operates in different nations, including the United States, the United Kingdom, and China.
2. The three countries, the United States, the United Kingdom, and China are members of the IMF. They are all members of the World Bank and the World Trade Organization (WTO).
3. Essentially, the United States, the United Kingdom, and China seem to follow all the guidelines put in place by the IMF and the World Bank. However, in the case of WTO, other members of the organization tend to think that China is always violating the institution’s guidelines. In 2018, China was considered to be skirting WTO rules based on the behaviors shown by the enterprises owned by the state. Other acts associated with the breaking of the rules include stealing of intellectual properties and dumping of products in the country.
4. The United States has a transparent government where leaders are held accountable for their actions. In comparison with other political institutions, the Chinese government is relatively non-transparent. However, with the evolving international expectations, the country is becoming more open. Worldwide, the United Kingdom is considered among the leading nations in transparency. Freedom of Information is the leading factor that enhances government openness in the UK.

Nevertheless, the judicial system of the United States is not as functional as it once was. Today, the system is faced with many challenges, including unfair drug charges and mass incarceration that results in overpopulation in prisons. In the United Kingdom, the judicial system is in a meltdown. The country is faced with a rise in violence, creaking court, and prison system. Similarly, the Chinese judicial system is not effective either. The lack of independence in the system has led Chinese citizens to prefer using a petition for justice, mediation, protests, and human right organization as a way of obtaining justice.

5. In China, the competition policy emphasizes the utilization of effective property rights incentives flexible response of prices and fair and orderly competition. In the UK, the policy prohibits monopoly that leads to collusive behaviors of price hiking and abuse of market power. In the United States, these policies prohibit restrictive practices and the abuse of monopolistic power. Regarding corruption and governance, the United Nations has policies that hinder the engagement of transnational criminals in trade operations. Besides, China and the United States have anti-corruption policies that emphasize engagement on legal activities and hinder the exploitation of poor nations during trade transactions. The three nations also have the property right law to control the exploitation of natural resources to promote inclusive and sustainable economic growth.
6. Amazon Company produces both goods and services. It focuses on e-commerce, cloud computing, artificial intelligence, and digital streaming. It also provides media, baby products, and apparel, health and personal care items, industrial and scientific supplies, and baby products. These products are available both domestically and internationally.
7. Amazon faces tax imposed on Chinese and American imports. The company’s vendors are required to pay taxes to all products entering the countries.
8. Amazon is a member of the Association of Southeast Asian Nations (ASEAN), the European Union, and the North American Free Trade Agreement (NAFTA). The company benefits from free trade within the bloc, obtaining market access and trade creation, obtaining economies of scale as well as creating jobs for the unemployed.
9. Amazon Company would be better off in a multinational trade liberation than in a bilateral or regional block. The bloc reduces barriers to trade among nations like quotas and tariffs. Barriers to trade as it is in the case of a bilateral agreement reduce cost of goods sold in importing nations. Besides, they standardize export and import procedures hence offering economic benefits to all member nations.
10. Among the cultural knowledge that one need to understand the culture of a foreign nation before negotiation include individualism-collectivism, Long-term relationship, Power distance, Uncertainty avoidance and Masculinity-feminity. This information help to understand how the nation conducts its transactions. The information would be obtained by searching the culture of the country in Ofstede-Insight website.