CONTRACT MANAGEMENT Essay Example | Topics and Well Written Essays - 3500 words

CONTRACT MANAGEMENT - Essay Example For instance, during the post period of World War II, various political agreements were formulated and implemented with the intention of reducing or eliminating trade barriers amid nations. In this respect, General Agreement on Trade and Tariffs (GATT) was recognized to be the most effective trade policy for the US towards increased trade opportunities in the global periphery (US Department of State, 1999). It was also in this period that development of technology became quite apparent and swerving as it was perceived to minimize the distance among countries as well as reduce geographical constraints; thus, facilitating better trade in the international context (Schmidt, 2001). The progress in telecommunication technologies also facilitated with better communication opportunities for better exchange of goods and information amid countries. The advancement of technology was also identified to improve the transportation services between countries for effective conveyance of goods throu gh international trade. ... Moreover, the discussion will also emphasize on the impact the changes in trade and technology have on contract management even in the current era. Changes in Trade and Technology after the World War II which are affecting US Corporations In the post World War II period, it was observed that trade agreements have been formulated by policymakers with the intention of minimizing or eliminating trade barriers amid countries. Apparently, there was rapid development in trade activities and technology since the post period of World War II. Since then, the US has been committed towards the achievement of free trade opportunities with the objective of developing its economic stability and political growth. The open trade activities were further expected to facilitate the country in developing its economy as well as building healthy relationship amid nations. It was also observed in this context that the US was more concerned about trade liberalization with the aim of conducting trade activit ies with minimized barriers among countries. In order to acquire a liberalized trade policy, the US further formulated GATT with the intention of reducing trade barriers which was signed by 23 countries in the year 1948. The ‘Free Trade Agreement’ also initiated after World War II, i.e. North American Free Trade Agreement (NAFTA) again facilitated the US corporations to perform their business operations in worldwide market segments with minimized trade restrictions. As a consequence, the rapid expansion of international trade activities increased market competition among corporate sectors of the US minimizing the inflation pressure for protecting the domestic