International Trade
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International trade is an important factor in stimulating growth in the U.S. economy. Most economists agree that international trade and the theories of absolute advantage as well as comparative advantage as they relate to international trade boost economic growth and improve the standard of living of the average American. However, doing business internationally is not without risk. For example, even if a company opts to export goods rather than to locate business operations in a foreign country, it still faces the possibility that one or more foreign buyers will be unwilling or unable to pay debts as they come due. If this happens, the exporter-creditor may find it difficult to sue and win in a foreign court of law when the defendant is a local company. Managing the risks associated with exporting goods to foreign customers requires the exporter to be familiar with the some of the more obscure documents that are sometimes required in international sales transactions including certificates of origin, consular invoices, and export licenses. An exporter must also be familiar with the types of credit terms foreign customers often demand. Equally important, in order to assess the risk associated with selling to a particular customer in a particular country, the exporter must evaluate both commercial risk, which is associated with the possibility of payment default by the buyer, and sovereign risk. Sovereign risk is associated with actions such as civil unrest or rules imp
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Approximate Word count = 935
Approximate Pages = 4 (250 words per page)
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