Implications of economic policy on Foreign
Historically if one looks at situations in which a people either moved into a new country or established colonies in a foreign land the motivation was always based on hopes of economic reward. Whether countries were entered by force, through trading agreements, or colonization depended on the foreign policy of countries looking to expand into new lands. The Americas were colonized by Europeans be granting charters to companies who would develop the resources of the Americas and return the products and raw materials to Europe.
Likewise the British Empire, the Roman Empire, and the Persian Empire among others developed as a result of increased wealth due to conquering and colonizing foreign people and lands. Economic policy and economic considerations play a primary role in the making of foreign policy. Although some people would have one believe that foreign policy is made from more noble motivations such as human welfare and health, the instances where this has happened are miniscule when compared to the effort and funds involved to create new international markets or to gain access to economic resources in other countries.
The International Trade Administration (ITA), an agency within the Department of Commerce, lists its purpose as “helping to create economic opportunity for American workers and businesses” (Promoting). The ITA helps U. S. markets “navigate foreign markets” by educating companies about how to tailor their products to specific markets in order to increase profitability. The ITA maintains a library of reports that offers free online reports of market research in foreign countries (Promoting).
It is clear that in order for these economic goals to succeed the United States foreign policies must be conducive to trade to the mutual benefit of all trading partners. If such policies are implemented the ITA and similar organizations will be able to promote “prosperity and an better world” by promoting trade and investment (Promoting).
Works Cited “Promoting Trade and Investment. ” n. d. International Trade Administration. 5 May 2007 < http://trade. gov/promotingtrade/index. asp>.