According to Investopedia, regulatory risk is “the possibility that a change in government regulations will have a negative effect on a company’s profitability.” In other words, it is the risk that a company will face when government regulations change in a way that negatively impacts the company’s business model or operations. There are a number … Read more
Denationalization is the process of removing a person or group’s national affiliation or citizenship. This can be done through legislation, as was the case with the denationalization of ethnic Germans in Czechoslovakia after World War II, or through individual decisions, as when someone renounces their citizenship. Denationalization can also be involuntary, as when a state … Read more
The United Nations Commission on International Trade Law (UNCITRAL) is a multilateral body responsible for the promotion of the rule of law in international trade. It was established by the United Nations General Assembly in 1966 and its mandate is to “promote the progressive unification of international trade law”. UNCITRAL has played a leading role … Read more
The Multifiber Arrangement (MFA) was a set of trade rules negotiated by the General Agreement on Tariffs and Trade (GATT) in 1974. The MFA established quotas on the amount of textile and apparel products that could be imported into the United States and other developed countries from developing countries. The MFA was intended to protect … Read more
The International Maritime Organization (IMO) is a specialized agency of the United Nations that is responsible for regulating shipping. The IMO was established in 1948, and it currently has 174 member states. The IMO’s headquarters are located in London, United Kingdom. The IMO’s primary goal is to promote safety and security at sea, as well … Read more
Bilateral trade is trade between two countries. This can take the form of exports (sales of goods and services to foreign countries) or imports (purchases of goods and services from foreign countries). Bilateral trade can be either free trade (no barriers to trade) or restricted trade (barriers to trade exist). Free trade is more common, … Read more
The Government Accountability Office is an independent, nonpartisan agency that works for Congress. The GAO’s primary mission is to help Congress oversee the executive branch and ensure that the federal government is accountable to the American people. The GAO does this by conducting audits, investigations, and evaluations of federal programs and activities. The GAO also … Read more
The Arab Monetary Fund (AMF) is an Arab regional organization which aims to foster monetary cooperation between Arab countries, promote economic development in the Arab world, and contribute to the attainment of Arab economic integration. The AMF was established in 1976 and is headquartered in Abu Dhabi, United Arab Emirates. The AMF’s membership consists of … Read more
Nontariff barriers are trade barriers that are not in the form of tariffs. They can take the form of import quotas, export quotas, or other restrictions on trade. Why does the government create trade barriers? The government might create trade barriers for a variety of reasons. One reason might be to protect domestic industries from … Read more
A tortfeasor is someone who has committed a tort, which is a civil wrong. Torts can be either intentional or unintentional. Intentional torts are done on purpose, while unintentional torts are accidents. Is strict liability a tort? Yes, strict liability is a tort. A tort is a civil wrong that leads to liability, and strict … Read more
