When negotiations are held, the main intention is to come up with an agreement that will provide a roadmap for an action to be taken (Howard, 1982, p.5). Negotiations have mostly been aimed at ensuring that existing conflicts are resolved amicably. They occur over a wide area and have no restrictions. In addition, negotiations can occur between organizations, businesses, governments and in other personal situations.
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There are many actual negotiation situations that have occurred in a global context. Examples include between international corporations and organizations, government to government and international acquisition (Howard, 1982, p.15). In international business there have been negotiations between the US and China (in relation to currency). China has been accused of manipulating the value of the Yuan. It has been agued that they have not moved towards a more flexible currency.
On the other hand, the US has been accusing China of being a currency manipulator because it has kept the value of its currency unchanged to the dollar for almost two years (Stohr & Mattingly, 2010, p. 7). There has been pressure for a Yuan revelation so as not to put their exports ahead of others like America. Most of the public pressure has come from the US as they have felt more offended than anyone else.
Chinas policies and practices have given most exporters an unfair advantage over their US competitors. As a result the US government through its Treasury secretary has been involved in negotiations to resolve this dispute once and for all. Some have been calling for immediate imposition of import duties to the Chinese.
This is ultimately a global issue that pits the world’s largest economies against one another. In coming up with negotiations to resolve this dispute some US lawmakers have argued that Chinese leaders are not committed to this issue (Stohr & Mattingly, 2010, p. 3). Of course it is evident that problems between the US and China can be solved through negotiations. There has been a multilateral effort to ensure that this issue is solved through negotiations.
Negotiations have been aimed at looking into the relationship between the two countries (that will define how they relate in business). Before these there has been a distributive bargaining where the US has urged China to try and correct the situation for better trade relations between the two countries. To resolve this issue China has been urged to move towards a more flexible currency.
As a matter of fact, the Chinese president was able to visit Washington in a bid to ensure that trade ties are not severed. On the other hand, China has put in place good measures that allow for negotiations in an aim to resolve this issue. An involving negotiation process has been called for among the players to reach an amicable solution as this is a global issue.
In a broader perspective, to give the negotiation process a professional approach many economic experts have been called in to ensure that the authenticity of the claim has a basis from which it can be well argued on. The process has involved the people who run treasury from the two countries (Stohr & Mattingly, 2010, p. 9). This is because it is an economic dispute that needs a comprehensive solution.
Although negotiations are the only way to resolve the dispute; it has not been successful over the years as the Chinese have not been ready (in many occasions) to sit down and commit themselves. The negotiation process is ongoing and will open a window for more issues to be looked into.
Howard, R. (1982). The Art and Science of Negotiation. Harvard: Belknap Press.
Stohr, G. & Mattingly, P. (2010). (2010). Geithner Delays Currency Report, Urges Flexible Yuan. Web.