Please enable JavaScript.
Coggle requires JavaScript to display documents.
CHAPTER 4 THE GLOBAL CONTEXT OF BUSINESS - Coggle Diagram
CHAPTER 4 THE GLOBAL
CONTEXT OF BUSINESS
DIFFERENCES
TRADE DEFICIT
imports exceed its exports,
resulting in a negative trade balance
TRADE SURPLUS
exports exceed its imports,
resulting in a positive trade balance
TRADE AGREEMENTS
AND ALLIANCES
General Agreement on
Traffics and Trade (GATT)
international trade agreement to facilitate multilateral trade barrier reduction or abolition
World Trade Organisation (WTO)
The organisation through which member countries negotiate trade treaties and settle disputes over trade policies and practises.
North American Fee
Trade Agreement (NAFTA)
agreement among the United States, Canada, and Mexico to gradually abolish tariffs and other trade restrictions
European Union (EU)
agreement among key European countries to abolish or make uniform the majority of trade barriers affecting group members
COMPETITIVE ADVANTAGE
Absolute Advantage
Comparative Advantage
National Competitive Advantage
SUBSIDY
a government grant to assist a domestic enterprise in competing with international firms
MALAYSIA’S WAGE SUBSIDY PROGRAMME
The Malaysian government has extended its wage subsidy programme (PSU) to be implemented for four months from August 1st, with an allocation of RM$3.8 billion (US$0.91 billion) to help businesses continue their operations and retain employees
financial assistance paid to employers for each employee, every month