Trust Issues in Global Trade for Businesses

The world is changing rapidly, at an ever increasing pace. There are many factors contributing to this, but one of the most important is the trend of globalization. Businesses have found new markets to supply and new regions to produce their goods in. Globalization has provided many new benefits to its participants, but these benefits have also come with some risks that businesses of all kinds have to confront. These risks have ranged from corruption and shoddy work to logistical problems and unreliability. In order to better help foreign business manage the risk that can occur with globalization, local business brokers have stepped in to smooth the process. These business brokers have ranged from local investors and agencies to websites.

A famous example of a website has been, started in 1999 as a trading platform for small businesses, it has morphed into a trading conglomerate that tries to include itself in every phase of a transaction between foreign and Chinese businesses. In order to foster trust between its users, has a payment system, that requires foreign companies who use to buy an annual “trust pass” for a yearly fee of $500-600, there are also higher payments for a “gold” membership. Due to a payment system for trust, is littered with scammers who basically pay for license to steal. Due to the constant complaints from businesses about fraud, Alibaba instituted a new verification system. However, the new system has been widely derided as ineffective and as a result the complaints continue to pour in. In fact, trade forums are littered with complaints about, you just have to google Alibaba scams. If there is one thing that any successful investor or businessman will tell you, it is that trust is not something that can be bought or paid for. Trust is something that is built over a period of time between two parties, that have similar goals and have consistently had good interactions with one another over time.

There are few websites on the internet that can facilitate trust between businesses, but many of them also require paid memberships. Which is why, has stepped in to fill the void for helping small businesses connect with one another. Globial is 100% free, no gold membership, no charges/fees. Globial allows businesses to determine who to trust not by charing for “trust passes”, but by providing a extensive social networking platform for businesses to communicate with one another and establish contacts. Think of it like a Facebook, for people or businesses who are looking to work with one another. The team at Globial, is committed to providing a friendly and conducive atmosphere to business not just through social networking, but also by providing businesses and investors with free resources regarding on business conditions and future trends. As a result, Globial is not just a networking site, rather its a one stop shop for businesses or even individuals interested in the topic of business, to become more knowledgeable on the rapidly changing markets of today.

-Jay Zadey


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