Essays on Trade Page 17

Introduction The UN Convention on the Carriage of Goods by Sea, also known as the Hamburg Rules, was adopted at a conference in Hamburg on March 31, 1978 and was implemented in November 1992. The Hamburg Rules were intended to modernize and harmonize the Hague Rules of 1924 as amended by the subsequent Hague-Visby Rules….

International Trade can be viewed as a voluntary exchange of mutual advantage in that countries engaged in trade take and give something beneficial in return to their trading partners. While international trade is thus conducted voluntarily, the World Trade Organization has emerged in the international system raising questions as to its necessity in the global…

Introduction There is no country in the world that can claim to be self sufficient in regard to the availability of raw materials within the country that are required to produce consumer goods leave alone the ability to produce locally all the consumer goods and services that its citizens will need. In view of this…