International trade is a huge industry. The more global your
economy is, the more chances you have to grow as a country and other countries
are more likely to want to trade with you. In
the article “International Trade Drives Small Business Success” by Anuradha
Shukla, talk of trade between countries shows that the more trade you do, the
more successful you are. The more cooperative the countries are amongst each
other, the better the overall standards of trade is. Small and medium-sized SME’s
that trade globally are likely to be twice as successful as those who stay
within their own country to conduct trade. This has been shown through
countries like China, Japan and India. Their economies and small businesses are
making a comeback because of this international trade. When these countries
were asked about the advantages of international trade, they mentioned enjoying
the access to new markets and the ability to diversify their own offerings.
Jerry Hsu is quoted as saying, “From companies surveyed in our region from
China, India, and Japan, we see a strong link between improved business
performance and cross-border trade.” He also mentioned that international trade
does a tremendous value to small businesses.
Most SME’s have decided to increase their percentage of exports over
then next three years. But there is still the issue with accessing information
on foreign markets, along with concerns such as high customs duties and creating
a customer base. India’s current issue
is it’s weaknesses in domestic infrastructure and how they’re going to handle
the slight slowdown of their economy.
8:20 PM on 2/7/13
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