Answer to Question #290792 in Management for jean

Question

In an unexpected global health crisis that the world is facing today, trade is one of the most essential areas to keep our eyes on in saving lives and livelihood, and international cooperation is needed to keep the business trade flowing. Considering our current situation, give some ideas on how international or global marketers should manage trades despite the situation barrier.

Answer 1

Trade is essential in our livelihoods. Efforts should therefore be made to ensure that it never stops even in extreme incidences such as the current global pandemic. International marketers may adopt the following ideas to ensure that international trade is least affected.

1. Keeping supply chains going- The aim is to ensure that essential goods for the crisis are flowing. An example of such goods is medical equipment and supplies.

2. Boosting confidence in trade and global markets- this may be done through improving transparency. It is by sharing essential information that countries will feel a sense of belonging and trust develops. This creates a suitable environment for trade to take place.

3. Avoiding making this worse and complicated- the worse things may include export restrictions on goods such as food and medical supplies. Countries may retaliate against each other making trading difficult.