Financing Foreign Trade

The promising prospects of Asian economies and to be specific China has endeared many business enterprises the world over to trade with it. China's trade volume totals 1.4 trillion U.S. dollars while its export amounts to 762 billion U.S. dollars (Alomar, 2007). This paints a rosier picture of foreign trade. That is not a true representation especially for small businesses that undertake to engage in foreign trade. Such businesses are faced with myriad challenges ranging from tedious paper work, regulatory issues, and inherent risks (Alomar, 2007). Some challenges come in the context of difficulty to secure reasonable credit terms locally, risky payment processes, and supply chain management issues (Alomar, 2007). The essay ventilates the main products traded between Australia and the United States and major issues involved in financing trade between Australia and the United States.

The bilateral trade relationship between United States and Australia is informed...
[ View Full Essay]