Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 3rd International Conference on Business and Policy Studies
Series Vol. 68 , 05 January 2024
Open
Access | Article
Adapting to Turbulence: How Global Retail Giants Navigate Trade Wars and Reshape International Trade Norms
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Abstract
More than just a part of the economic landscape, retailing has a profound impact on society, culture, and the market economy. As an integral part of the economic ecosystem, retailing provides goods and services to consumers and is also an enabler of economic growth, closely linked to other industries. Global retail giants play an important role in international trade by increasing supply chain transparency and encouraging suppliers to comply with ethical labor practices and environmental standards. This commitment to sustainability and social responsibility is consistent with the emphasis on fair labor practices and environmental stewardship in international trade norms. However, significant challenges arise when confronted with the trade-off between national interests and the interests of transnational corporations on the global stage. Governments often aim to protect domestic industries and jobs, which may conflict with the interests of global retailers in having smooth access to global markets. Finding the right balance between these interests remains a perennial challenge in international trade discussions. In addition, the burgeoning trade war between the United States and China has had varying degrees of impact on the retail industry. Therefore, this dissertation will delve into the new challenges and changes faced by retail giants in the context of the trade war.
Keywords
international trade norms, global retail, trade wars, multinational corporations
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 3rd International Conference on Business and Policy Studies
- ISBN (Print)
- 978-1-83558-267-1
- ISBN (Online)
- 978-1-83558-268-8
- Published Date
- 05 January 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/68/20241339
- Copyright
- 05 January 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited