International Business Transactions of United States and Saudi Arabia

International business is a type of trade that involves commercial transactions between two or more countries operating beyond their national boundaries. In other terms, these are business transactions involving several nations, which are carried out at the international level.Advertising We will write a custom essay sample on International Business Transactions of United States and Saudi Arabia specifically for you for only $16.05 $11/page Learn More As it would be observed, international business transactions are of great importance to participating countries in a number of ways. For example, they help in strengthening a country’s international relations with other countries in the world. More importantly, they give countries a direct opportunity to market their products in the global markets, thus playing a key role in shaping their economic development. This paper is about international business transactions and it revolves around two countrie s that have been successful in this type of trade. The two featured countries are United States and Saudi Arabia. In fact, United States is one of the most developed countries in the world, in terms of trade and economy (Rugman and Collinson 35). At 9.8 million km2 in land area, the US is arguably one of the largest countries globally. Currently, the country’s population stands at around 317 million people. United States is a major player in the global markets, and this is evident from its large business links with other countries across the world. As a result of these commercial establishments, America enjoys one of the most successful economic relationships in the world.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More USA is a major player in export transactions, and some of its major exports are transportation equipment, petroleum oils, pharmaceutical products, organic chemicals, and telecommunications equipment. In terms of the imports, USA is the leading importer of commodities and products in the world. Some of their major imports would include refined petroleum oils, crude petroleum oils, automobiles, medicaments, and automatic data processing machines. Most of the country’s exports go to Canada, while most of its imports come from China. Just like other advanced nations, USA enjoys a wide range of industries and manufacturing companies (Rosenberg, Nathan and Rosenberg 68). The largest industries in the country include the automotive industry, the retail industry, healthcare industry, pharmaceutical industry, and oil and gas industry. These industries and others that are not listed here serve as the backbone of the country’s economy. As a notable participant in the international business arena, United States is a trade partner to many other countries around the world. However, some of its biggest traders in terms of exports and imports are Mexico, Japan, China, Canada, and Germany, among others (Helpman, Melitz and Rubinstein 445).Advertising We will write a custom essay sample on International Business Transactions of United States and Saudi Arabia specifically for you for only $16.05 $11/page Learn More The U.S. is currently the largest single economy in the world, with a Gross Domestic Product of $16.6 trillions according to the latest listings. The other country that is featured here is Saudi Arabia, popularly known as the Kingdom of Saudi Arabia. With an estimated area of 2.1 million km2, the popular Arab State is said to be the largest country in terms of land area in the whole of Western Asia. Currently, the country has an estimated population of about 29 million people comprising of the original citizens, illegal immigrants, and registered foreign expatriates. Just like America, Saudi Arabia is a major player in international business, especially in transactions involving petroleu m and oil-based products, which are said to have a heavy command on the country’s economy (Achoui 41). Even though Saudi Arabia is incomparable with the U.S. when it comes to international business transactions, they are well recognized at the global markets for being a major importer and exporter of a wide range of products. Currently, the Arabic state is ranked at position 19 among the biggest exporters, and position 20 among the biggest importers in the world. Some of the major exports of the country are petroleum and petroleum products, petrochemicals, electrical appliances, construction materials, plastic products, and metal-related goods (Jasimuddin 61).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the other hand, Saudi Arabia imports products such as motor vehicles, machinery equipment, foodstuffs, and coal products, among other things. Just like the U.S., Saudi Arabia is also home to numerous industries, with some of the big ones including petroleum refining industries, oil industries, petrochemical industries, pharmaceutical industries, plastic industries, pharmaceutical industries, and cement industries among others. As a recognized importer and exporter of vast products, Saudi Arabia has a large network of business partners from allover the world (Niblock and Malik 77). Some of the major trading partners of the Arab State of Saudi Arabia include the UK, Japan, China, Thailand, Canada, and the United States. The country also has numerous trade relations with other surrounding Arabic nations such as Yemen, Iran, Syria, and Iran, just to mention a few. Saudi Arabia enjoys a strong economic situation, considering its current GDP that stands at $160 billions. As it would be observed, the commercial sector in the country has grown rapidly over the past few decades. This, however, has made the Arabic state the most powerful economy in the Arabic world. Based on these observations, there is no doubt that Saudi Arabia has a great potential in international business transactions. Works Cited Achoui, Mustapha. â€Å"Human resource development in Gulf countries: an analysis of the trends and challenges facing Saudi Arabia.† Human Resource Development  International 12.1 (2009): 35-46. Print. Helpman, Elhanan, Melitz Marc and Rubinstein Yona. â€Å"Estimating trade flows: Trading partners and trading volumes.† The Quarterly Journal of Economics 123.2 (2008): 441-487. Print. Jasimuddin, Sajjad. â€Å"Analyzing the competitive advantages of Saudi Arabia with Porter’s model.† Journal of Business Industrial Marketing 16.1 (2001): 59-68. Print. Niblock, Tim and Malik Monica. The political economy of Saudi Arabia. UK: Routledge, 2007. Print. Rosenberg, Nathan. How the West grew rich: The economic transformation of the  industrial world. New York: Basic books, 2008. Print. Rugman, Allan, and Collinson Simon. International business. New Jersey: Pearson Education, 2009. Print. This essay on International Business Transactions of United States and Saudi Arabia was written and submitted by user Graysen Floyd to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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Climate Change, Development and Disaster Risk Reduction

Climate Change, Development and Disaster Risk Reduction Introduction The climatic conditions of the earth have changed significantly over the centuries. This can be noticed from the geological evidence of changes in sea levels and ice ages. The patterns of human activity over the centuries also give good evidence of climate change.Advertising We will write a custom essay sample on Climate Change, Development and Disaster Risk Reduction specifically for you for only $16.05 $11/page Learn More It is unclear what caused the climate changes in the past, but scientists have listed possible causes like volcanic eruptions, the sun’s effects, and changes in ocean currents (Pelling 2011 p. 17). The evidence of climate change at present is mainly seen in the sharp increase in global temperatures over the past few decades. The Intergovernmental Panel on Climate Change Fourth Assessment Report arrived at the conclusion that climate change was happening at present. Atmospheric and oceanic temperatures have reached reco rd high levels that have never been witnessed in the last 500 years and most likely for over 1000 years (IPPC 2008 p. 34). The effects of climate change can be seen in many areas, with one of the most common pointers being the increased frequency of natural disasters. Industrialization and deforestation increase the levels greenhouse gases in the earth’s atmosphere, and this has consequently led to an increase in droughts, floods, hurricanes and other natural disasters. Current Approach to Climate Change A look at the statistics indicates that climate change is a major issue that requires a serious approach in order to mitigate its effects. For the period from 1995 to 2004, disasters caused 890,000 deaths and affected a total of 2.5 billion people, with losses estimated at US$ 570 billion (IPCC 2008 p. 46). The number of disasters recorded almost doubled for the period running from 1995 to 2005, and this is cause for major concern. Other plausible explanations for this increa se include population growth and the increase in the number of climatic disasters of a lower magnitude. However, the increased cases of droughts, storms, and very high rainfalls in different places are indicative of the culmination of the effects of climate change, and major disasters are yet to follow in the future (Schipper Pelling 2006, p. 117). Some positive statistics show that there are now fewer people dying as a result of disasters as compared to previous centuries. This is particularly so for widespread flooding and drought, which have in the past claimed hundreds of thousands of human lives.Advertising Looking for essay on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More This reduction can be attributed to improved systems for monitoring climatic patterns, providing early warning of impending disaster and general preparedness (Sietz Boschutz 2011 p. 82). The responses of governments and internationa l organizations through measures like evacuations and food aid have also helped save a lot of lives. However, this trend could be on the reverse since the past few decades have seen a rise in the baseline level of deaths, which can be attributed to a growing population with a majority of the poor living in disaster prone areas. It is the poor people that feel the full impact of disasters and other effects of climate change. Any progress that has been made towards poverty reduction over the years can be undone due to the damages caused by these disasters (Pachuari 2004 p. 137). Many people in the population expect their respective governments to shield them from the risks of disaster at all costs (Wilkinson 2012 p. 156). They do not seriously consider the risks that they may be putting themselves in from the choices they make, especially concerning where they settle and the socio-economic activities that they engage in. Experts have proposed an approach that decreases the chances of the population suffering impending disasters, regardless of whether they are related to climate change or not. This idea of disaster risk reduction or adaptation can be implemented in several ways. These include public awareness programs, early warning systems, and environmental protection. These efforts also require serious political commitment and administrative input from respective governments. Politics, Institutions and Climate Change Disaster risk reduction and climate change are closely related, yet they are usually discussed under different policy spheres at both national and international forums. In recent years, those concerned with disaster reduction have actively contributed to discussions on climate change, and have proposed concepts for adaptation.Advertising We will write a custom essay sample on Climate Change, Development and Disaster Risk Reduction specifically for you for only $16.05 $11/page Learn More There have been efforts to combine the efforts towards disaster reduction and climate change. There are several UN processes geared towards risk reduction. They include bodies like the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UNOHRLLS) and the United Nations Economic and Social Council (ECOSOC). The Small Island Developing States have already recognized the need to reduce the risks of climate change, and have come up with the Mauritius Strategy on sustainable development. The World Trade Organization (WTO) is also helping poor countries that depend on agriculture how to reduce risk and adapt to climate change. Experts emphasize that the most of the efforts towards reducing climate change and disaster risks should be made at community and state levels. This calls for an integrated approach that unites the efforts of all the concerned sectors under a common framework. Some of these sectors include education, i nfrastructure, health, and environment. It has been noted that most of the disaster risk reduction efforts in many countries are handled by the armed forces or emergency management bodies that usually have few connections with other concerned ministries like environment, finance, or economic planning. Many countries are now looking at how to integrate these efforts for better coordination and collaboration between all the major stakeholders (Willis 2005 p. 175). The public needs to be actively engaged in disaster reduction efforts to complement the efforts by the government and international bodies. The private sector also has a lot of expertise when it comes to disaster management and risk reduction, and their in put should be sought to boost the efforts that are already in place. Climate change is now the leading cause of many disasters happening all over the world. As a result, the efforts at mitigating the effects of climate change are closely related to disaster risk reduction, and the two must be approached by combining efforts. Future projections for climate change Experts are now using computer-based models to try to predict future climate patterns. These models incorporate important factors that affect the atmosphere and the oceans, like the projected increase in greenhouse gases due to socio-economic activities. The results released by the IPCC based on the computer models paint a very grim picture.Advertising Looking for essay on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More Surface air temperatures for the globe are expected to increase by 1.1-6.4 degrees Celsius while seas levels are expected to rise by 18 to 59 cm by the year 2100 (IPCC 2008 p. 58). The acidity of the oceans will increase while the planet will experience heat waves and high precipitation events will become more common. The high precipitation will mainly be seen at higher altitudes while the subtropical areas will see less rainfall. The continuous rising of tropical sea surface temperatures will cause the tropical cyclones, like typhoons and hurricanes, to become more intense. This will be seen in the higher peak wind speeds and more accompanying precipitation (citation). Expected effects of climate change Melt water from the top of the mountains supply more than one sixth of the planet’s population with their water needs. These are people living mainly in the dry tropics and mid latitudes, and they are likely to experience a significant reduction in water supply by the middle of the century. There will be higher precipitation in some areas and this is most likely to result in more floods. The mid and high altitude areas may initially benefit from higher agricultural output due to the increased precipitation. However, in the lower altitude areas, crop production will be heavily affected due to the increases in temperature and frequency of droughts and floods. There will be more people facing hunger and this will cause displacement and migration of large populations. Those societies, settlements, and industries located at the coastal areas and river flood plains face the highest risks from the effects of climate change. Also under threat are those countries whose economies are heavily dependent on climate-sensitive resources. The extreme weather patterns have become a common occurrence and with increased intensity, and the economic and social costs of damages resulting from these events will increase. This is more so for places undergoing rapid urbanizatio n. The negative impact of climate change on health is a major concern. Heat waves, storms, droughts, floods, and fires are likely to cause more injuries and deaths. Other threats to health will come from malaria, diarrhea, and malnutrition. The projects aimed at improving public health especially in the poor countries will suffer a huge setback as a result of disasters (Mehta 2000 p. 89). Climate change is expected to affect all countries, but the nastiest effects will be experienced by people in poor countries and the poor segment in developed countries. The poor have a tendency to live in high-risk areas like flood plains, yet they do not have properly built houses. Their economic activities are also dependent on climate, like agriculture, and they have no capacity to cope with the effects of climate change (Madan 2010 p. 67). This means that the low incomes of the poor are likely to fall further, and the rates of illness and death will increase in many developing countries. Afric a already suffers from numerous problems like endemic poverty, armed conflicts, and other disasters yet it lacks the institutional capacity to deal with these situations. This makes the continent extremely vulnerable to the effects of climate change. Drought is set to continue being a major problem in Africa, and it has been shown that sub-Saharan Africa has become drier during the 20th century. Agricultural production and water supply are expected to reduce significantly, with some projections putting a reduction in agricultural yields by up to 50% by the year 2020 (Low 2005 p. 248). Asia has been keen on sustainable development but this is set to come under strain as climate change puts more pressure on natural resources that are already under threat from urbanization and industrialization. Dealing with Climate Change The world has slowly awaken to the fact that climate change is a major concern, and countries are now trying to discuss and negotiate ways of dealing with the proble m, mainly under the United Nations Framework Convention on Climate Change (UNFCCC). It has been widely accepted that greenhouse emissions arising from human activity are the main problem, and focus is now on how to reduce these emissions (Levine, Ludi Jones 2011, p. 46). There is a lot of contention on how to go about reducing greenhouse emissions, as it calls for radical changes that will affect the society in a major way. The use of fossil fuels, industries, urban development, and general land use all need to be changed drastically and this is likely to affect many people in a huge way hence the resistance. The efforts at reducing greenhouse emissions are referred to as â€Å"mitigation†. Some of the proposed mitigation actions include switching to renewable forms of energy, development of low-energy technologies and reducing reliance on energy-intensive products. It also involves environmental management and conservation efforts targeting forests and soils. The second pla n of action in response to climate change involves finding ways of managing its impacts. The amounts of greenhouse gases that have already accumulated in the atmosphere mean that the world cannot escape the impacts of climate change. This is reinforced by the continued emissions before the mitigation efforts take full effect. It is widely accepted that the impacts of climate change are coming or are already here, and some effort is being put towards lessening these impacts. These efforts towards coping with climate change are referred to as â€Å"adaptation†. Proposed adaptation efforts include early warning systems, better building designs, improved agricultural practices, and putting in place social safety nets for the poor. Adaptation and mitigation efforts should go hand in hand for complimentary effect (Jones et al. 2010 p. 79). Conclusion Geological and anthropological evidence indicate that the earth has experienced climate change before. It is difficult to point out t he real reasons behind climate change in the past. However, climate change is happening now, and much of it is due to human activity. Both atmospheric and oceanic temperatures have reached record highs that have not been experienced for hundreds of years. The effects of climate change are already being felt, especially due to the increased frequency of disasters all over the world. These changes have mostly affected poor people living in disaster prone areas (Baker 2012 p. 28). The most common effects are extreme weather conditions like heavy rainfall that results in widespread floods, and prolonged drought that causes famine and denies the poor a source of livelihood through agriculture. There have been efforts towards addressing climate change as the world continues to witness its devastating effects. However, there seems to be several hindering factors, mainly at local and national levels (Dasgupta Baschieri 2010 p. 56). Most countries lack the capacities and institutional frame works to deal with climate change, and there has also been slow reaction from governments yet they are expected to play a significant role in the whole process. Efforts at addressing climate change revolve around mitigation actions aimed at reducing greenhouse emissions, and adaptation actions meant to reduce the impacts of climate change. Mitigation requires some drastic measures that are bound to affect many people in a significant way, and this has caused a lot of debate. As for adaptation, it has come to be accepted that climate change is already causing problems, with more to come so people are trying to find ways of lessening the impact. References Baker, J L 2012, Climate change, disaster risk, and the urban poor: Cities building  resilience for a changing world, World Bank, Washington, D.C. Dasgupta, A Baschieri, A 2010, ‘Vulnerability to Climate Change in Rural Ghana: Mainstreaming Climate Change in Poverty-Reduction Strategies’, Journal of  International Development, vol. 954 no.748, pp. 803-820 Intergovernmental Panel on Climate Change 2008, Climate change 2007: impacts,  adaptation and vulnerability : Working Group II contribution to the Fourth Assessment  Report of the IPCC Intergovernmental Panel on Climate Change, IPCC Secretariat, Geneva. Jones, L., Jaspars, S., Pavanello, S., Ludi, E., Slater, R., Arnall, A., Grist, N and Mtisi, S 2010, Responding to a changing climate: Exploring how disaster risk reduction, social  protection and livelihoods approaches promote features of adaptive capacity, Overseas Development Institute, London. Levine, S., Ludi, E. and Jones, L 2011, Rethinking Support for Adaptive Capacity to  Climate Change The Role of Development Interventions, Overseas Development Institute, London Low, S 2005, Climate change and Africa, Cambridge Univ. Press, Cambridge [u.a.], Madan K 2010, Natural and anthropogenic disasters: vulnerability, preparedness and  Mitigation, Springer, Dordrecht Mehta, l 2000, â €˜Environmental Governance in an Uncertain World’, IDS Bulletin, vol. 32 no. 4, pp. 1-15 Pachauri, R 2004, ‘Climate Change and Its Implications for Development’, IDS Bulletin, vol. 35 no. 3, pp. 11-14. Pelling, M 2011, ‘Conclusion: adapting with climate change’, Adaptation to climate  change: from resilience to transformation, Routledge: New York, Schipper, L and Pelling, M 2006, ‘Disaster risk, climate change and international development: Scopes for, and challenges to, integration’, Disasters, vol. 30 no. 1, pp. 19-38. Sietz, D and Boschutz, M 2011, ‘Mainstreaming climate adaptation into development assistance: rationale, institutional barriers and opportunities in Mozambique,  Environmental Science Policy, vol. 14 no. 4, pp 493-502. Wilkinson, E 2012, Transforming disaster risk management: a political economy  approach, Overseas Development Institute, London. Willis, K 2005, Theories and Practices of Development, Routl edge, Abingdon.