Explain the term “Flag of Convenience" and how it might affect International Business.

Business

1 answer:

MAXImum [283]3 years ago

4 0

Answer:

<u><em>Flag of convenience</em></u>

A flag of a country under which a ship is registered in order to avoid financial charges or restrictive regulations in the owner's country.

It affects the international business as it creates advantages for the ships using this register as some the countries offering flag of convenience have poor regulations and poorer enforcement then activities like tax avoidance, criminal trade, and bad labour conditions make the participation in the international businesss easier for those ships

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