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Essay on Kanzen Berhad: The US and Antidumping Duties
Introduction
The phenomenon of globalization which is being witnessed in the present age means that there is increasing trade between nations and every nation has economic interests in other nations. Products manufactured in one country are routinely exported to other countries. The General Agreement of Tariffs and Trade or GATT has virtually eliminated tariffs and quotas and exporters can now export their products to other countries provided that they are charging a fair market price for the products and not attempting to cut prices in order to penetrate a new market. The volume of sales of goods in a market depends on the quality of goods and the price that is being charged. Sometimes manufacturers can attempt to seek greater penetration of a market by reducing prices and thereby hurting other manufacturers who may also want to sell in that market. Producers from nations in which labor is cheap and manufacturing more cost effective are in a position to manufacture products cheaply and hence may be able to sell in another market with high labor and manufacturing costs, after paying for the transportation of their goods. The cheap exports may be of an inferior quality and they may also be priced to penetrate the market or even subsidized from profits that are being made by the exporters from sales elsewhere. Also, the reason for an ability to manufacture the lower priced products may be that the products have been manufactured by underpaying workers and exploiting them in the country of manufacture. Whatever the case may be, the entry of such cheap exports in a country where the labor costs are high can threaten the local manufacturers who may try to use automation and better quality manufactured products to remain in the market.
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