TITLE:
Dynamics of Foreign Languages as Lingua Franca in Business and International Trade
AUTHORS:
Patience Afi Seglah, Komikouma Apelike Wobuibe Neglo, Jiexuan Huang, Kokou Mawulikplimi Gbemou
KEYWORDS:
Foreign Languages, International Trade, Business, Lingua Franca, Bilateral Trade
JOURNAL NAME:
Open Access Library Journal,
Vol.11 No.9,
September
29,
2024
ABSTRACT: The progress of humanity has always been intricately linked to trade, albeit, language barriers constitute a substantial impediment to facilitating global business and trade. This research aims to assess the impact of major foreign languages on business and international trade development. The results reveal that English, Chinese, and French languages significantly and positively influence trade. English is crucial in conducting business, and proficiency in foreign languages is a vital determinant in international trade. Individuals who speak English as a second language have 1.75 times more considerable impact on imports and 1.3 times more significant impact on exports. Interregional business and trade are typically more significantly influenced by the Chinese language. Compared to other languages, German generally increases trade by 5%. The findings show that Russian significantly enhances trade compared to other languages. However, the Spanish language does not offer comparable advantages in international trade and a country primarily employing the Portuguese language may face restricted choices for potential trade partners due to language barriers. The impact of foreign languages on international trade can vary considerably across various goods and services sectors. This study sheds light on the current state of foreign languages and future directions in business and international trade.