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Define the basic ethical challenges faced by international traders and how to deal with them?

Define the basic ethical challenges faced by international traders and how to deal with them?

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Answer #1

Majorly ethical challenges like breach of forex laws, risk of arbitrage and hedging, lack of compliance by sellers, undefined incoterms and haphazard contracts, absence lf risk management frameworks, low quality auditing practices are faced by international traders.

Stricter corporate governance standards and levying stringent penalties with jail terms using Foreign Corrupt Practice Act and implementation of Sarbanes Oxley Act, Foreign exchange Management Act can help greatly.

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