From the e-Activity, select a country from the list of U.S. free trade agreement

Question

From the e-Activity, select a country from the list of U.S. free trade agreement partners and examine the information. Then select two (2) potential drawbacks from the trade agreement you selected, explain your rationale, then provide a recommendation to address each of these drawbacks.

Imagine that your goal is to be a next-generation multinational manager. Suggest three (3) key traits or characteristics that this type of manager should possess. Determine the related characteristic(s) that you already possess, and propose strategies for developing the remaining characteristic(s) through education and / or experience. If you believe that you possess all of the traits or characteristics that you have suggested, explain whether or not you obtained them through education and / or experience.

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Explanation / Answer

I select FTA between USA and Australia as both of these are bright economies and the comparison much wiser as compared to other partners. As far as the analysis goes, it seems that the USA has been on a better side of effects as compared to Australia.

Now, since you have asked to select two drawbacks from the trade agreement here are they as per my judgment with their probable resolution.

1. The deficit in trade for both countries. The studies show that the trades of both these countries reduced by staggering 53 Billion dollars with the rest of the world. This is a red signal that has to be considered by both the nations as this preferential treatment hinders the balance of trade with rest of the nations. Agreements like these need to critically analyze their potential effect on the overall relationship with other nations, Only then it should be put in motion.

2. Biased Intellectual property provisions. As per the study, it seems like there was no sweet spot or an act of balance leading to an upper hand of the USA and hence higher IP provisions given to them. The after effects to this bias can lead to billions of dollars of loss to the Australia domestic IP interests. ( EX-A US pharma company was blocked from establishing in Australia due to untested IP provisions which left the company frustrated and they finally established a generic production in India instead.

The Key traits that a multinational manager should possess.

1. Regular education on the recent developments which are relevant. The managers should keep themselves updated with the upcoming news and events which relate to their trade. The minutest of details can be useful when taking a decision and at that point in time, these bits of info comes in handy. therefore, staying updated is a must.

2.Thorough knowledge of the ins and outs of the related sector. The manager should be well educated in terms of the trade facts and concerned know how. This enables the managers to be as effective as possible in terms of being decisive and hence leading to a better performance.

3.Ability to identify the opportunities to take advantage well in time as well as strategic planning. Taking a decision is one thing and taking a decision well within time is another. A manager who is well versed with his craft will be able to a call well within time. This, of course, involves a lot of analysis in a very short period of time, but that is what it takes. Therefore a well-developed acumen for what you do is very crucial.

I know about all these things because I have personally developed these traits over a period of time. I was able to gain these traits through education as well as years of experience exploring the best possible ways to execute duties.

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