Trade off between the economic benefits as opposed to the ethical and environmental problems of increasing international trade

Manish K.

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Trade off between the economic benefits as opposed to the ethical and environmental problems of increasing international trade

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Abstract

The concept of ethics, social responsibility and accountability in business is inherently complex and has fuelled polarized debate as to the parameters of its role in practice. Furthermore, this has been compounded by the integration of the globalization phenomenon into international business; with the increased movement of capital, commodities, cultural imaginations and practices .

A concomitant result of this has been the proliferation of international expansion opportunities for businesses, which has brought the issue of ethics and corporate responsibility to the fore. To this end, some commentators argue that governments should discourage trade with countries having bad human rights records. Indeed, in the British Government body "Headsup" 2008 debate "Human Rights or Poverty? Should the UK only trade, send aid or money to countries with a good human rights record?

Introduction
The UN global compact and the corporate social responsibility debate
1. Global impact definition
2. Regulatory code
3. Distinct lack of government authority
4. Relationship between corporate social responsibility and human rights remains
5. The underlying basis of the UN Global Compact
6. Fellner's view
7. Global impact principle
8. Lack of effective governance
9. The central argument propounded by Rodriguez
10. Issue of corruption
11. The central efficiency of the UN
12. The assumptions
Conclusion
Bibliography

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[...] To this end, the above analysis highlights that the crux of the conflict between economic benefits and environmental and ethical objectives in international trade is the increasing power of TNCs in global economic integration. Moreover, the financial benefit derived to host governments from TNC investment operates as a disincentive to national states in enforcing environmental and ethically conscious regulation. Whilst there is an increased movement and consciousness towards co-operation in implementing corporate social responsibility with initiatives such as the UN Global Compact; such measures are at present self regulatory and therefore rely on voluntary compliance. [...]

[...] Quarterly Journal of Economics, 108: 599-617. Slaughter, A. (2004). A New World Order. Princeton University Press. C. Staten. (2003) The History of Cuba. Greenwood Publishing Group The UN Global Compact and Ten Principles www.unglobalcompact.org accessed January 2010 Tomlinson, J. (1999). Globalisation and Culture. Cambridge: polity Press. Weede, E. (2006). Human Rights, Limited Government and Capitalism. Cato Journal. Volume 28, No.1 Wei, L., & Bangu A. (2004). The Social Economic and Environmental Aspects of Trade Liberalisation. www.china-review.org/news/manage/image accessed January 2010. Wilkinson, R. [...]

[...] Additionally, the Global Compact principles are drafted in wide terms and the exact nature of the correlation between businesses and human rights remains unclear and has provided a source of contention as to the extent to which businesses can apply human rights principles in practice[23]. For example, Fellner observes that a common problem with corporate social responsibility in practice is that “corporations could sign on to the mildly noble principles and then go about their business. And a number of the signatories, according to the participating NGOs, had done just that: they'd joined but then continued to violate basic human rights provisions”[24]. [...]

[...] (2000) University of Michigan Press OECD. Foreign Direct Investment in China. Prospects and Policy Challenges. Available at www.oecd.org/dataoecd 2002 Macintosh, Sandra Waddock & G. Kell (2004). Learning to talk: Corporate citizenship and the development of the UN Global Compact. Greenleaf Publishing Peter T Muchlinski., (2007). Multinational Enterprises and the Law. 2nd Edition Oxford University Press. Myers, N., & Kent, J. (2005). The New Atlas of Planet Management. University of California Press. Pei, Minxin. (2008) China's Trapped Transition: The Limits of Developmental Autocracy. [...]

[...] Wei, L., & Bangu A. (2004). The Social Economic and Environmental Aspects of Trade Liberalisation. www.china-review.org/news/manage/image accessed January 2010. Spero, J., & Hart, J. (2009). The Politics of International Economic Relations. Cengage Learning. (2005) op.cit. Ibid. Ibid. Ibid. Weede, E. (2006). Human Rights, Limited Government and Capitalism. Cato Journal. Volume 28, No.1, p.35. Ibid. (www.unglobalcompact.org accessed January 2010. Ibid. Macintosh, Sandra Waddock & G. Kell (2004). Learning to talk: Corporate citizenship and the development of the UN Global Compact. Greenleaf [...]

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