union. Can a trade diverting customs union result in trade creation?
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- When trading across borders, firms choose between different payment contracts. In particular, an exporter and an importer have to agree on should be made before or after delivery. (1) Explain the dterminants of international payment methods (ii) Discuss the role of Governments in international trade financing (iii) Explain the term 'Buyers credit' and identify the benefit of buyer's credit to the importer (iv) What are the steps involved in using buyers' credit as a payment option for international trade?1. Discuss the reasons for the existence international trade and describe the major challenges faced in this type of trade. Give typing answer with explanation and conclusion