Exam (elaborations)
MNG4804 PORTFOLIO OF EVIDENCE ESSAY (2023/24)
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Table of Contents
Introduction. .......................................................................................................................... 3
Question 1: Discuss ways in which international trade can recover from the ravages of the
COVID-19 pandemic. In your answer, explain the WTO’s trade strategies to open markets,
improve the employment rate, and boost the African economy. ............................................ 3
Economic Impact. .............................................................................................................. 3
Health Impact. ................................................................................................................... 4
Social impact. .................................................................................................................... 4
Political Impact. ................................................................................................................. 5
Question 2: Industrial supply chains are more fragile than was previously thought; this
fragility will certainly have a negative effect on the future of globalisation. Examine the key
drivers of globalisation that may increase the supply chain links between Southern African
economies [20]...................................................................................................................... 6
Economic Forces ............................................................................................................... 7
Declining investment and trade barriers............................................................................. 7
Improvement of technology. .............................................................................................. 8
Communication advancement. .......................................................................................... 8
Technology in Transport sector. ........................................................................................ 9
Question 3: Critically examine the impact of culture in Africa on multinational corporations,
whether it is perceived positively as a source of competitiveness or negatively as a source of
problems. Support your arguments by identifying appropriate practices to address cultural
impact. .................................................................................................................................. 9
Question 4: Critically assess the significance of trade blocs as an avenue for economic
development in Africa. In your answer, outline the potential of the South African trade
strategies to benefit from international trade. ...................................................................... 12
Tariff removal. ................................................................................................................. 12
Protection of economies. ................................................................................................. 13
Business opportunities. ................................................................................................... 13
Conclusion. ......................................................................................................................... 14
Reference List ..................................................................................................................... 15
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Introduction.
The portfolio is a completion of an open book examination for International Business
(INT4801). The portfolio consists of 4 questions that will be addressed individually
as per the instructions. Examples presented in the document are for academic
purposes only and serve the purpose of elaborating the theories presented.
Question 1: Discuss ways in which international trade can recover
from the ravages of the COVID-19 pandemic. In your answer,
explain the WTO’s trade strategies to open markets, improve the
employment rate, and boost the African economy.
World Trade Organisation (WTO) is a grouping of nations that is responsible for
policing the world trading system and making sure nation-states adhere to the rules
laid down in trade treaties signed by WTO member states (Song & Zhou, 2020). In
this sense, WTO plays a pivotal role in ensuring that trade is even from first world
nations to third world nations such as Zambia, Zimbabwe, Mozambique just to
mention a few.
Hill and Hult (2017) define International Trade as the exchange of goods and
services between economic units (organisations and people) across the globe.
Trade is fundamental given that nations have a strong belief that it brought different
types of benefits. Through sharing of different resources, trade becomes pivotal in
the welfare of nations as they gain what they do not have from trading partners.
Razalli (2018) noted that, the breakout of a deadly virus in 2019 called Corona-Virus
(Covid-19) affected trade patterns between major economic players such as USA,
China, South Africa just to mention a few.
Economic Impact
Vandekerckhove (2020) argues that, Covid-19 pandemic ravaged the global
economy as a whole in early 202 as global trade dropped by approximately 9%. This
was one of the great falls down in global economy since the financial crisis of 2008
that also crippled economies to their knees. The economic effect was first felt in the
pricing modelling of goods and services. Due to dwindling demand, prices rose to
unimaginable heights being driven by loss of production time that affects the cost of
producing goods, shortage of labour especially in the African continent where most
industries are labour intensive.
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