CONTENT:
Global Trading: The Threat of Piracy on the High Seas Student`s Name: Professor`s Name: Course Name: Due Date: Abstract Piracy affects the contemporary society as it leads to great loss and damage to global economy and trade. Buccaneers have acted with boldness as they exploit the nation`s and global community`s inactive state. With numerous global goods, particularly essentials such as fuel and oil, traveling through shipping lanes, the risk of piracy cannot be disregarded. It remains a contemporary threat because of several factors, mainly because it is difficult to catch buccaneers because they effortlessly escape espial and capture in the world`s vast oceans. Many nations, including the giant naval powers have no resources to keep every square mile of water constantly under surveillance. Piracy can be reduced if there is bigger political will to prevent it and if there is better cooperation and coordination between the countries involved or affected. This paper discusses the threat of piracy on the high seas and its impact on global trading. Key Words: Piracy, Global Trading, Security, Crime Global Trading: The Threat of Piracy on the High Seas Introduction Piracy affects the contemporary society as it leads to great loss and damage to global economy and trade. Buccaneers have acted with boldness as they exploit the nation`s and global community`s inactive state. With numerous global goods, particularly essentials such as fuel and oil, traveling through shipping lanes, the risk of piracy cannot be disregarded. It remains a contemporary threat because of several factors, mainly because it is difficult to catch buccaneers because they effortlessly escape espial and capture in the world`s vast oceans. Many nations, including the giant naval powers have no resources to keep every square mile of water constantly under surveillance. Piracy can be reduced if there is bigger political will to prevent it and if there is better cooperation and coordination between the countries involved or affected (Geiss & Petrig, 2011). Organizational Security Risk Exposure The perception that armed guards pose more threat as compared to a safeguard cannot be disregarded. For instance, if ships are carrying volatile goods such as oil, firing can lead to a very bad explosion. Another security risk exposure is that host nations cannot be ready to welcome armed noncitizens moving into their sovereign land (Berlatsky, 2010). Cost-effective Mitigation Strategies Somalia`s neighbors, the African Union and the global community can choose from various options to cut down the perils of piracy in the Gulf of Aden and off Somali coast. 1 Organizing shipping into ‘protected` lanes. A set route ought to enable global forces in the area to keep an eye on shipping and act in response to distress calls. However, an identified lane could ...
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[Solved] Global Trading: The Threat of Piracy on the High Seas