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With the rise of India and China, it impacted trade worldwide both positively and negatively. Additionally, trade theories identify the existing trade paradigm, its effect on the native country's economy, and the kind of regimes that needs to be implemented for a country's welfare. Moreover, the trade theories are a cross-regional business where advantages gained from the trade and capital freedom including the global management standards tied up with the multinational companies {MNC} and Foreign direct investment {FD} improvements (Wang, 2011).  Hence, the major two theories accessed by China and India is underpinned below-
The absolute advantage theory-
The theory focuses on the dynamic capabilities of an organization or country in terms of its greater production of products/services in comparison with its rivals by optimally utilizing the similar resource quantity at low costs. In context with China, it possesses the ability to produce such commodities- electronics effectively which ultimately offers the absolute advantage concerning other countries. It cannot be denied that China's lucrative opportunities and the economic triumph are due to its international trade in countries like UK, India, and Germany by offering similar as well as distinctive products with low costs which assist it in gaining competitive advantage as well as the dynamic proficiency which marks its global presence (Wang, 2011).  
The mercantilism global trade-
An embargo act in which the trade restriction occurs by Government for the domestic welfare hence, high tax is imposed for the foreign companies. In context with India, it's attempting to adopt measures that lead to the welfare of a domestic economy. Although, India possesses the comparative benefits in some of its products exported- while China leads to heavy products in neighboring markets. Furthermore, China's economic mercantilism involves currency control and domestic technical standards promotion. 
One of the vital culture element which involves the use of various words and symbols to enhance communication with other individuals. Hence, language plays a significant role concerning the marketing of particular products/services across the borders as individuals from distinctive backgrounds come together to perform in foreign business hence, language is an end to communication barrier which assists the MNC’s in performing their business operations with people of the diverged cultures and languages smoothly in a global market (Douglas, & Craig, 2017).
Example- Google offers content in multi-languages.
Another major element of culture that involves a different set of beliefs, religious practices by individuals such as- Hinduism, Christian, and Muslim religion sharing different beliefs respectively. Moreover, religion plays an important role in terms of particular products/services marketing in the global market as it represents a sign of respect and integrity to all the employees and customers involved in the performance and purchase of a product (Keegan, 2017).
Example- Macdonald does not serve pork in India to show respect to Hinduism and Muslim culture which in turn assists in building good image and loyalty from the customers in the international market (Mintz, Currim, Steenkamp,., & de Jong, 2019).
The values in terms of honesty, responsibility, and respect towards individuals are important when marketing goods overseas as such core values, transparency, true advertising, and marketing strategies without harming people's values/beliefs assists in gaining their trust and loyalty and competitive advantage in the long run. 
A sign depicting an ideology, object, or an idea shared by the individuals or group of individuals. For instance- in Christianity, cross symbolizes Jesus's crucifixion. On the other hand, symbol plays a vital role when marketing products/services globally as to show respect, feelings towards its target consumers/employees (Lewellyn, 2017).
Example- Currently, the vegan trend is widely accepted by Youth hence, the vegan symbols are labeled for vegetarians worldwide.
 Following are the types of managerial decisions in context with international countries being driven by the cultural factors-
Individualism and group decisions-
Under the individualistic managerial decision, employees possess idiosyncrasy such as – self-reliance and independence whereas in a collectivist culture, group concern, objectives, and values are a major point of concern that assists in conflict management, unity, effective communication, and agreement. Hence, the cultural factors- interests, traditions, ethics, values impact the foreign countries in terms of diverged languages, genders, interests, and religion.
Tactical and strategical decisions-
The decision made frequently for accomplishing efficacy in regular business activities is termed as tactical decision while on the strategical decision making ensures a clear understanding of vision and long term objectives of a company. Hence, people from distinctive backgrounds interact and come together and perform international business (McCort, & Malhotra, 2013). Therefore, cultural factors such as- beliefs, religions, interests, values, and traditions are encouraged.
Organizational and personal decisions- The organizational decisions involves the decision making taken by either top-level or through discussion and participation by individuals while the personal decisions are undertaken by the managers without others opinion. Hence, the cultural factors- values, beliefs aren't well maintained under personal decision while in the organizational decision making cultural factors are hold into consideration (Wang, 2011).  
Major and minor management decisions- Major decisions as the word suggests, they are the decision of utmost importance of an organization such as- training the employees, product development, and expansion. On the other hand, the minor decisions contain less value in comparison with the minor decisions. Hence, individuals strive for fairness, honesty, and respect at the workplace. On the other hand, the kinds of managerial decision making either involves the engagement by top-level managers or pervasively. 
Criminal laws differ from country to country in which in a particular country it can be observed as a criminal act whereas in other countries it can be permissible conduct. However, most of the countries have implemented the criminal laws and codes and there exist two major types of criminal laws such as- misdemeanor which is seen as a less serious crime that includes- theft or small assaults and the other type includes felony in which the crime is observed as a major crime in which the penalties are heavily charged or punishments such as the hang till death or imprisonment are undertaken against the criminal. On the other hand, the international criminal act considers war, genocide, and crime against humankind as major offense hence, heavy punishments or penalties are charged against them under the criminal act. Ironically, in India, the criminal law punishments are somewhat different as in India, the criminal is sentenced to jail or hang till death while in foreign countries, the laws work for the wellbeing and realization by the criminal by giving him task and duties so that he can become a better person and doesn't remain same (Lasserre, 2017). Moreover, under international laws, criminal law is distinctive in terms of death and penalties as under the ICCPR which prohibits the death penalty termed as de facto if fair trial not provided under article 6. Hence, UN stated that there's no room for death penalties against the criminal in today's time considering it as inhumane, cruel, and mental torture. Moreover, Saudi Arabia sees crime as minor until the victim personally complains hence, it says that no criminal action can be taken as legal crime except through a victim's complaint. Hence, it can be said that different jurisdictions, codes of conduct, and trials are the main reason behind such differences in criminal law (Craig, & Douglas, 2016).
The ethical codes lessen the fiscal scandals but it won't eliminate it comprehensively. However, it cannot be denied that the ethical code adherence will build up honesty, transparency, and loyalty between the employees at the workplace. In the current scenario, the organization is implementing ethical policies that lead to the welfare of the business and the individuals at place. Moreover, abiding by ethics maintains a positive image and reputation by the target consumers. In addition to this, the companies implementing and promoting the ethical codes and policies such as fair evaluation systems, values, and cultural differences gain a competitive edge and attract and retain its customers and employees in long run. Hence, abiding by corporate ethical conduct is strongly suggested for building trust, loyalty, and enhanced decision making in an organization (Estrin, Meyer, Nielsen, & Nielsen, 2016).
Case- Lehman brother’s fiscal scandal
Under the case of LB, they represented a false financial statement that showed a company's revenue while they were facing fiscal losses. Later on, they got caught and legal action was taken against them as breaking the trust of stakeholders. Moreover, CEO was main person behind the unethical attempt.  Hence, it negatively impacted the organizational health and portrayed a bad image of LB and thereby, LB suffered huge financial problems that it leads to wind-up of the company. 

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