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Hi, need to submit a 2000 words essay on the topic International Business: Individual trade project.

The spreading of globalization has also played a major role in the creation of demand for new kinds of products and services. This in return has played a role in the process of development of new markets by the opening of various previously closed economies. Talking on this note, it can be said that the availability of information and new age communication technology has helped in a great way in the process of development of new markets in international locations. As a result of emergence of new markets, there has been significant amount of development in regards to business and trade policies of various developed as well as developing economies located in various continents around the world. As a result, business organizations with diverse range of product and service offering which can delivered through the physical as well as the online mode are looking forward to exploit the significant business opportunities by significantly entering into international and new markets through the process of engaging into exports and import business. For the purpose of this project, it is important to highlight that the selected country from where the export process will be initiated is Australia. Also, the target or destination country where the products of export will be delivered is China. It is also important to mention that for this project, the product which is supposed to be exported from Australia to China is the processed foods. Business Trade environment in China Industry Developments: In the recent times, the economy of China is supposed to grow at the rate of around 8.1 percent as compared to the previous year’s growth rate of over 7.5 percent. However, there is a certain amount of caution existing in regards to the macro economic developments, because of the fact there are significant amount of chances of slowing down of the economy because of possible rise in inflation (Economic Times- a, 2013). Talking about the industry development of China, it can be said that the processed food sector of China is supposed to grow at the rate of around 10% on a year on year basis for the period of 2011 to 2016. Political environment While discussing the political environment, it can be said that the Constitution of China describes the country political infrastructure as a socialist kind. It also highlights that the country is under democratic dictatorship of the people and is currently controlled by China’s Communist Party (fogel, 2010). However, it is important to highlight the fact that the political environment faces challenges in regards to the widespread corruption that currently exists within the ruling party’s hierarchy (Economic Times-b, 2013). Government Regulation and Trade Restrictions Talking about government regulation and trade restrictions that currently exists in China, it can be said that the introduction and steady rise of Republic of China has resulted in a tremendous impact in the regulations, restrictions and trade laws of the country. The country has developed a highly exhaustive list of various commodities, which can be traded with other commodities. The country has also designed a highly well developed taxation system, which implements duty of customs as well as VAT related taxes on the imports of the country (PWC, 2008, p.77).