What Is Global Market Rules?
What is the global market rule? It is the set of rules that are developed and supervised by a body called the World Trade Organization. The organization was created in Bretton Woods, Switzerland in 1994 with the purpose of creating a system for trade within a framework that would be fair to all participants. The members of this trading organization are: China, Japan, South Korea, the European Union, the United States, and the World Bank. As you can see, it is a system that is designed to handle trade between member nations without favoritism or discrimination on the basis of country, race, religion, or any other category.
Why should we care about what is global market rules? Basically, it is about the idea that the international trade system is a "club" where no country is favored and all countries are forced to play by the same rules. For example, if an EU company wanted to sell cars to a Japanese company, they would need to abide by all of the EU's market rules, which might include taxes and import fees. The Japanese company would also have to obey all of the EU's rules, which might include tariffs on its products, and possibly an import quota. Both the EU and the Japanese government are making trade deals with each other based on what is fair for all parties involved.
So, how does this help the consumer? For one thing, it prevents a lot of shipping and transportation companies from manipulating the supply of goods through the use of tariffs and other means. Without the global market rules that are enforced, there could be a serious imbalance in the price of different items between countries. Also, certain companies might be allowed to use a method of price manipulation that is not found anywhere else in the system. Some food items are even imported and not taxed like other products are, which is why the system works so perfectly.
It is impossible to say exactly what will happen with the global market over the next few years. One thing is for sure, the rules that are implemented now are helping to level the playing field for companies that are new and struggling in their markets. At the same time, they are allowing for the continued expansion of the traditional market economies that have been established in other places. The rules of the game are fairly simple; if you play by the rules, you will usually win. The global market rules were put in place because everyone benefits.
Now, what is global market rule number one? That is the protection of intellectual property rights, or IP rights. Basically, any product, idea, or innovation can belong to one or more countries, but it cannot be copyrighted, and it must be protected from being pirated. It is actually very complicated to understand, and it is the job of lawyers alone to explain it all to anyone who is not as bright as they are. Protection comes in various forms; some of these are patents, trademarks, and copyrights. There are also trade secrets that should be protected, especially those that relate to technology or manufacturing.
Now that you know what is the global market rule number one, you might be wondering what it means for you. In the global market, it means that whatever product or service you purchase or provide for your customers is the property of the country that grants it its copyright or patent protection. So, if a product is manufactured in China and it belongs to the United States, then it is protected under the US Copyright Law, but if it was manufactured in China and belongs to the United Kingdom, then it is not protected under UK laws. So basically, just because you purchase a product in one country, doesn't mean you are getting an original copy. When you shop online, make sure you read all about the shipping charges, taxes, and other variables of the product before you make your purchase.