Do the international trade laws need to be changed?
Globalization has transformed the world in a global village. No matter what you want, you can get it with the tap of your finger. People and organizations are connected by a huge group of communications network. Globalization also has changed the world economy. The trade between the countries is driven by the market of demand and supply. Communications and travel now concern the assets, good, labor and services. Now decentralized, the world bears the brunt of globalization.
International Trade and Mercantilism
The international trade is governed by the international trade laws but influenced by mercantilism. Mercantilism believers state that a country to export more than its imports. The trade began between the countries with the silk route and since then has progressed to the services. In the 21st century where capitalism plays a major part, mercantilism has no space in anything but laws.
The Evolving State and the Future of Trade
Ari Afilalo, professor of Law at Rutgers-Camden School of Law in his new book, “The New Global Trading Order: The Evolving State and the Future of Trade” states that new changes and practical changes need to be adopted in the international trade laws. Various organization in relation to the international trade laws need to be supplemented with better regulatory frameworks.
Ari Afilalo researched subjects like international trade, international business transactions, and the European Union laws to formulate his much loved theories.
Ari Afilalo is a renowned professor whose new book has taken the law world in a storm. His belief that the State and the international trade laws can work without any friction has put people in awe of him. The constitutional law of the country (state) can co-exist better with the new global trading order only after the much-needed changes are made in the laws. With his expertise and knowledge, the professor of law suggests the required and effective practical measures that can change the course of global trade. Want to read more about State and the international trade law? Make sure you pick up Afilalo’s new book.