International Business Law
Please read materials in chapters 7 / 8 in the textbook as a guide in textbook:
International Business Law Text, Cases, and Readings (6th ed.) Upper Saddle River, New Jersey: Pearson Education ….August R., Mayer D., & Bixby, M. (2013)., ISBN 9780132718974
Answer all the questions in good form and detail.
1. A few years ago Cyprus the country collapsed (after the markets closed in the US of course, a thing that seems to happen quite a bit). The government decided to take up to 9.9% of a person’s money from their bank account. Could this affect a company that does international trade not only in Cyprus but in other countries?
2. Currently countries around the world are in turmoil (an understatement). Countries are purposely devaluing their currency (Yuan, US) so that the goods that they export are less expensive compared to other goods. The hope is that this will increase exports, thereby increasing revenues for the respective country in the hopes that this will increase tax revenue for the respective country. As such since this seems not to be working here in the US, the President has decided, via executive order to put tariffs on “foreign” goods. The goal is that this will create American jobs by making American goods less expensive than their foreign counterpart. Will this eventually be overturned by a governing body that can and will force the US to remove the tariffs? (The issue is not the legality of the executive order so don’t discuss this element.) Elaborate.
3. August, Maker, and Bixby, (2013) elude to the fact that the Lisbon Treaty as well as the EC Treaty provide for “restrictions on the freedom to provide services” as well as “restrictions on the freedom of establishment” (see attached document to help answer this question). Does this mean that Germany’s highest court is no longer Germany’s supreme law of the land, or for that matter France’s highest court is no longer France’s supreme law of the land? Elaborate.