Trading with overseas businesses

To trade in foreign markets will require dealing with capitalism, as Aretecracy doesn’t have a physical currency then it means that a slightly different approach will need to be taken.

An International Trade board will be set up, this will be a government run company which will exist solely to maintain trade connections with other countries. It will also be the only part of an Aretecratic society which will still operate under rules of capitalism. It will trade on the foreign markets for property and commodities as well as stocks and indices, it will also deal with all exports and imports.

A company who wishes to trade with another country will need to set up a trade agreement via the trade board who will allocate funds to the trade, carry out the transaction and then deliver the goods to the company as required. The company itself will not have to deal with any currency themselves, they will merely arrange the order and then request the release of funds from the Trade Board.

People who own overseas businesses

People who own overseas businesses are allowed to maintain them, however any profits that they make will go to the Trade Board and will be reflected back to the individual as Grace, this assumes that the business conforms to the standards of earning Grace as outlined in the ‘Income and Spending’ chapter. Any costs the business incurs will be dealt with via the Trade Board. If it is determined by the Trade Board that it makes more financial sense to sell the company, then the business owner will have no choice in the matter.

People who own overseas property

Owning more than one property under Aretecracy is not allowed for anyone who is not in the Meritocratic class. During The Amnesty people may sell their properties overseas or choose to leave the country and live permanently in their overseas property. Once The Amnesty is over, that property will be owned by the Aretecratic government and will most likely be sold back to the country it resides in.

Citizens are permitted to retain property abroad if they wish, however they may not use profit from it within the Aretecratic Union, nor will they have the means to pay any fees associated with it. However if they are able to overcome those issues then the property will not be taken away from them.