American Journal of Trade and Policy
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Securing Financial Information in the Digital Realm: Case Studies in Cybersecurity for Accounting Data Protection
Get PDFSecuring financial information, especially accounting, is essential in the digital world. This article explores organizations\u27 challenges in protecting accounting data from evolving cyber threats. By sharing real-life case studies and industry research, we offer suggestions to enhance the security of accounting information. These recommendations include adopting cybersecurity frameworks implementing technical defenses like endpoint protection and network segmentation, following secure coding practices prioritizing user awareness and training, creating incident response and business continuity plans, regularly conducting vulnerability assessments and monitoring, maintaining strong vendor relationships, and ensuring compliance with relevant regulations and standards. By implementing these suggestions, accounting professionals and organizations can strengthen cybersecurity measures. Effectively protect valuable financial data from the ever-growing threat landscape. Taking an approach that combines technical measures, user awareness, incident preparedness, and regulatory compliance is crucial when navigating the digital landscape with confidence and resilience
Should the Federal Reserve Issue a Digital Currency as Virtual Legal Tender? An Econo-legal Analysis Based on China’s Master Plan for De-dollarization
Get PDFMainstream discussion on whether the Federal Reserve should issue a central bank digital currency (CBDC) as virtual legal tender focuses on five aspects related to the American domestic environment -- efficiency, privacy, safety and security, financial inclusion and exclusion, and impact on the current economic systems and monetary policies. This article takes a new and broader perspective on this critical issue by investigating how China, being the arch-international competitor of the US, has formulated a well-designed and structured master plan supported by various econo-legal strategies to pursue the objective of de-dollarization through the utilization of a China-currency-based CBDC with “controllable anonymity” and different multicurrency exchange and settlement platforms. Given the reality that de-dollarization will inevitably weaken the ubiquitous platform of international trade and payment of the US dollar (USD), can the Federal Reserve use the same tool, a USD-based CBDC, to counteract or even reverse the declining trend of the American currency’s versatility and far-reaching capability? This article recommends that the Federal Reserve can slow down the de-dollarization movement by issuing a CBDC at both the wholesale and retail levels, emphasizing the control of the former while having more cooperation with private banks for the latter
Bank Disclosure Practices in Bangladesh: Exploring the Impact of Corporate Attributes
Get PDFDisclosure is necessary so that interested parties can make wise decisions. The study aims to establish the level of disclosure and whether different corporate attributes influence it. Each sample bank\u27s disclosure score was calculated using the unweighted disclosure index. Throughout five years, spanning 2016 to 2020, the necessary data were collected from sample banks\u27 annual reports, and several statistical tools were employed to illustrate the study\u27s conclusions. The study\u27s findings report that the average level of disclosure is satisfactory. The ANOVA test was used to establish whether there was a significant difference in the disclosure levels, and the results show a substantial difference in this case. Multiple regression analysis was performed to investigate the effect of various corporate attributes on disclosure levels. The study\u27s consequences showed that although these variables had significant values higher than 0.05, ROE, EPS, CAR, and log number of employees had no significant influence on disclosure levels. However, at the 0.05 significance level, log total assets demonstrate 0.055 significant levels, indicating that LTA considerably influences disclosure levels
Jeju Island- A “Visa-Free” South Korean Destination, Not Free to All: A Legal Remedy
Get PDFJeju Island, a picturesque island off the southern coast of South Korea, is a popular destination known for its stunning natural landscapes and unique culture. Unlike South Korea’s general visa policy, which requires visas for many nationalities, Jeju Island offers a more lenient visa-free policy, allowing most travelers to stay for up to 30 days without a visa, providing they satisfy the requirement of arriving via direct flight outside mainland South Korea. However, the island\u27s visa policy is only partially inclusive, as it excludes nationals from 23 countries designated by the South Korean Ministry of Justice.
While allowing visa-free travel for tourists is a concept explored previously, South Korea\u27s restriction on certain nationalities undercuts its goal of promoting tourism and economic development on Jeju Island. Interestingly, other countries that have visa-free island policies do not impose such restrictions, including Vietnam’s Phú Quốc Island, Iran’s Kish and Qeshm Islands, and Norway’s Svalbard.
This article delves into Jeju Island’s visa policy, the list of excluded countries, and the policies of other countries with visa-free islands. It proposes a straightforward legal remedy that could promote more inclusive tourism by allowing all nationalities to visit Jeju Island without visa restrictions. Such a move would enhance the island’s reputation as a welcoming and inclusive tourist destination and foster greater international cooperation
Role of Blockchain in Enhancing Cybersecurity and Efficiency in International Trade
Get PDFThis research examines how blockchain technology improves international commerce cybersecurity and efficiency. We want to see how blockchain enhances transparency, reduces costs, and streamlines global trading networks by addressing security risks and inefficiencies. Secondary data-based literature reviews, case studies, and industry reports are used to assess blockchain\u27s trade potential. The research found that blockchain improves cybersecurity by decentralizing data storage, assuring immutability, and preventing fraud and data breaches. Automation via smart contracts, trade paperwork simplification, and supply chain visibility boost efficiency. However, scalability, interoperability, and regulatory issues persist. The report underlines that blockchain may lower costs by removing intermediaries and increasing direct peer-to-peer interactions. Standards, cross-border legislation, and incentives for blockchain implementation, especially for SMEs, have policy implications. It also emphasizes stakeholder engagement and capacity-building to overcome technical and financial hurdles. The research finds that blockchain may transform international commerce by making it safer, more efficient, and transparent, but it needs concerted governmental initiatives to overcome present constraints
Qatar’s Regulations – Striking a Balance between Protectionist Measures and Encouragement of Foreign Direct Investment (FDI) in Qatar
Get PDFAs part of its commitment to fostering economic prosperity and to further fortifying its already robust economy, Qatar has spearheaded several initiatives to attract Foreign Direct Investment (FDI). In doing so, however, Qatar must balance attracting investments from abroad while safeguarding its interests at home. This balance often becomes fragile as the same regulations imposed to offer protection to Qatari businesses (e.g., partial ownership and restricting investment to only a select few industries) often deter interests from abroad and raise barriers to entry. To restore this balance, Qatar has introduced various measures, including tax exemptions, free zones, and the use of commercial agents who are registered with the Ministry of Commerce and Industry (MOCI) to incentivize foreign investors and facilitate and stimulate the growth and diversification of its economy, while allowing the nation to protect its assets at home. This essay will argue that although Qatar’s regulation might discourage some investors, the law finds an appropriate balance between protecting Qatari interests and encouraging FDI
The Consumer Option Model for Withdrawal Rights in the EU: Analysis of an Alternative Design
Get PDFUnder EU law, consumers have a mandatory “right of withdrawal” in certain situations. Economic and legal literature raises severe doubts as to its effectiveness and fairness. In this article, an alternative design is discussed and examined within the framework of an experimental study: the “consumer option model,” in which every online consumer can choose between a purchase with and a purchase without a withdrawal right for a slightly lower price. Three study participants purchased two different products in a simulated online shop where the right of withdrawal was presented in three different frames (opt-out, opt-in, no default). The results revealed that a considerable number of participants were ready to shop without a right of withdrawal; in their choices framing and product value was of the essence, but not income, and a considerable number of participants reported an under-use of the right of withdrawal in every-day life
Chinese Attitudes toward Intellectual Property Rights-Change and Continuity
Get PDFIntellectual property has been central to Sino-US disputes in the past decades. The US government has taken various measures to compel China to enforce IP rights (IPR) protection in conformity with what would be acceptable by US standards, only to find differences persisting and these IPR disputes far from resolved. To better understand the tension between China and the US over IPR protection, this note provides a historical analysis of China’s IPR development from Late Qing to today, focusing on the changes and continuities in Chinese attitudes toward IPR across different periods. Without indigenous concepts of IPR, China was forced to accept western standards at a time of military and political weakness and has consequently remained vigilant against foreign domination in this field. However, China also gradually developed a genuine appreciation for modern IPR to the degree that would benefit China\u27s economic development and status in the global community. A normative judgment on China\u27s IPR protection would frustrate efforts at dispute resolution by assuming US standards of IPR protection as universally ideal. As China and the US continue to cooperate in trade and technology, mutual understanding and appreciation of a shared set of IP standards would be essential
Impact of Cybersecurity Threats on Emerging Markets\u27 Integration into Global Trade Networks
Get PDFThis paper explores how cybersecurity concerns affect developing market integration into global trade networks, concentrating on digital market vulnerabilities. The research seeks to identify developing economies\u27 biggest cybersecurity dangers, examine their effects on global commerce, and suggest resilience methods. Cybersecurity threats and their consequences on trade systems are examined via secondary data-based reviews of literature, reports, and case studies. Due to obsolete infrastructure, inadequate regulatory frameworks, and a cybersecurity skills gap, developing countries are susceptible to cyberattacks. Besides disrupting commerce, these vulnerabilities also damage investor confidence and global supply systems. The report stresses the necessity of improved digital infrastructure, cybersecurity policies, and local professional capacity development. It emphasizes international collaboration and public-private partnerships to strengthen cybersecurity resilience. Policy implications include that developing market countries must emphasize cybersecurity in trade policies and comply with global norms to promote safe and sustainable global commerce. By tackling these issues, emerging economies may boost trade competitiveness and global economic stability
Nonverbal Communication in Clinician-Patient Interaction and Influence on Healthcare Outcome
Get PDFCommunication is essential during clinicians\u27 patient encounters in determining the health outcome. The importance of nonverbal communication has received less attention in the patient direct care model, both in practice and healthcare communication. This is because of the nature of the approach itself. Our goal was to investigate the impact nonverbal communication research conducted during the last quarter century has had on various health outcomes. Body language is a powerful tool that may help healthcare providers connect with patients and build mutual respect. In the context of medical encounters, this research aims to provide a summary of the previous research that has been conducted on nonverbal communication. After giving the roles of nonverbal behavior and its importance in medicine, we show how physician nonverbal conduct relates to patient pleasure, trust, or adherence. We then present nonverbal behavior assessment tools. Finally, it has been determined whether or not interpersonal sensitivity affects patient outcomes