Parisian influence is growing in Asia as French citizens pour into Hong Kong looking for economic hotspots in luxury retail, commercial and residential real estate, and business services. Recently, World Economic Forum rated Hong Kong as the world’s most developed economy. The country’s booming economy, coupled with Europe’s debt crisis, has significantly increased the rate at which French citizens are immigrating to Hong Kong. Since 2006, the French community in Hong Kong has grown by more than 60%. But Hong Kong is not the only country where Westerners are flocking; mainland China, Thailand, Singapore, and India have been expanding rapidly as their markets open up.
globalEDGE Blog - By Tag: france
In France, those that have grown accustomed to downloading free, illegal music and videos from the internet have found themselves facing stricter government warnings and fines. Since the inception of the 2009 HADOPI law, which promotes the distribution and protection of creative works on the internet, French officials have noticed a sharp decline in illegal file-sharing. The three-warning system, which by the end of 2011 had sent out 822,00 warning e-mails, 68,000 second warnings, and 165 cases where offenders have been fined around $2,000 (USD), has had an immense impact on the music and film industries in France. Following the implementation of the law, French music industry revenues have been stabilizing, digital sales markets are growing, and iTunes sales have risen more strongly than in any other European country, most notably by bringing an extra €13.8 million a year worth of iTunes music sales into the economy.
Three months after Japan’s largest earthquake, a major nuclear reactor disaster seems to have been avoided. However, major doubts surrounding nuclear energy as a safe power source remain in countries around the world. If these doubts linger, the energy industry can be changed dramatically with this significant loss of faith in nuclear energy. Alternative energy sources must be able to replace nuclear energy and many countries will have to develop efficient and sustainable infrastructures to support this energy change.
Wine production is a source of great pride for many French citizens. Partners throughout the global supply chain are proud to take part in an industry with such cultural importance. Change is not easily embraced in an industry with so much history and a rapidly aging workforce. Regardless, to make products more affordable and accessible there has been a push to use plastic wine bottles. There are clear advantages and disadvantages associated with this trend, but its popularity amongst consumers is becoming increasingly difficult to ignore.
Traditionally free trade agreements and their kin are the principle agents of more competitive, efficient, and economically viable countries. However, people often look at the overall effect of FTA’s in their questioning for whether or not FTA’s should be implemented. The smaller country is usually considered the major benefactor after an FTA is implemented, but what happens when the opposite happens? There is an obvious, glaring example that is often overlooked, I myself just stumbled upon it a few days ago. Looking at Europe currently, you have the PIIGS, the countries that seem to be on the fast track to nowhere, and the rest of the Union. The idea behind the Union was that the economies could build on each other and raise the smaller less developed countries to the same standard as the U.K., France and Germany. Did this actually happen though?
Recently, France has been experiencing protests of epic proportions that have disrupted public transit systems, educational systems, and shortages in necessary commodities such as petroleum. There must be a good reason for an entire country to deal with strikes that are so disruptive, and there is: French President Nicolas Sarkozy has called for the government to raise the legal retirement age from 60 to 62. Who wants to work for two more years before their pension kicks in? That question explains the reason for the strikes, but I feel that it is worth exploring the reasons why the minimum retirement age should be raised.
As a result of the economic crisis, countries around the world are attacking their own debt problems with austerity measures. A mixture of culture, value systems and tradition play a role in how these measures actually are received by the citizens. Based on the fact that both the U.K. and France have adopted changes in their pension systems, how are these changes being received in the context of each country’s cultural values?
France has recently made great strides to increase its exports to Latin America. With globalization taking the international business world by storm, many French companies have begun to look for opportunities outside of its close neighbors in Europe. This has caused them to turn to Latin America. This means more business opportunities for French companies and more jobs for South Americans.
The Africa-France Summit held this week has brought up some wonderful opportunities for international business professionals. Many countries around the world have been looking to Africa for new business opportunities. The continent has vast natural resources and a lot of potential for growth in infrastructure that makes it appealing to foreign investors. Many African countries are now attempting to encourage France to invest in these growing areas.
Stores Magazine provides the Top 250 Global Retailers list made in 2010 using revenues from 2008. The combination of great marketing, good customer service, and the ability to reach multiple demographics, has shaped these companies into the successful international businesses they are today:
The European Commission recently funded a five year project that was completed during fall 2009 - the ENSEMBLES project. Its purpose was to develop a prediction system to provide relevant information on climate change and its interactions with society. According to a report submitted by the scientists who worked on the project, France, Italy, and Spain are some of the countries that will most likely experience great changes by the end of the century due to climate changes.
Check out this ranking of the top MBA programs outside the US, from BusinessWeek. Just in case you're curious, here are the contenders:
- Queen's University, in Canada
- IE Business School, in Spain
- INSEAD, in France
- University of Western Ontario, in Canada
- London Business School, in the UK
- ESADE, in Spain
- IMD, in Switzerland
- University of Toronto, in Canada
- IESE, in Spain
- Oxford University, in the UK
France is one of the leading countries with employees taking long vacations and working short work days. For the French, Sunday has always been a day to relax, visit family, or go to church. However, the government is trying to pass a bill making Sunday a working day for stores.
Some believe that if stores in the big cities and in tourist areas are open on Sundays it will be good for business and add a boost to the economy. This seems quite logical, since it will be more convinient for tourists and will also increase the income of those working. However, many disagree with the idea. They are used to regarding Sunday as a work-free day. Therefore, in order for the idea to reach its desired success, it is necessary to keep workers enthusiastic about work on Sundays.
Think that the
Ask an American about French business practices, and you’ll probably hear about short work weeks, massive amounts of vacation time, and the penchant to go on strike every month or so. On a more social level, you might hear about free college, free healthcare, and rock-solid job security, but the average American might carefully note that this comes at the cost of sky-high taxes, layers upon layers of bureaucracy, and continually high unemployment.