A few weeks ago we briefly wrote about the shortage of talent that businesses need and rising educational costs associated with that. Today, we take an in depth look at student debt around the globe and how countries tackle the growing problems that are associated with student loans
globalEDGE Blog Archive May 2013
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Generating international sales is a difficult task for many small businesses around the world. However, there are a countless number of strategies and opportunities that allow businesses of all sizes to accomplish this challenging feat. In fact, one of the best ways to drive intentional sales for your business is to attend international trade shows where you can display your product to interested buyers. The video posted below by the United States Department of Commerce uses the Health Show in Dubai to explain the benefits of attending an international trade show!
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International Energy Agency (IEA) reported on Tuesday that the shale oil recently found in the United States will help meet most of the world's oil demand in the next five years. It is significant to the world market as well as to the U.S. itself because it eliminates the threat of future energy shortage and reshapes the U.S energy market and its relationship with other countries.
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Today the shareholders of J.P. Morgan Chase & Co. prepare for one of the most contentious stockholders votes of recent memory. One of the main issues centers on Jamie Dimon, who is the CEO of the company as well as the Chairman of the board of directors. Many of those who hold stock believe that these roles should be separated; in the vote last year the proposal was rejected but still received the backing of 40% of stockholders, which is nothing to take lightly. The arguments in favor of this separation range from too much power being concentrated in a single person to a person can only focus on so many things and being CEO of company as large as J.P. Morgan Chase is enough of a task in itself. Regardless of the facts of this specific case, it brings into the question the larger issue of corporate governance. It would be beneficial to see how different countries operate – both in theory and practice – and see how those companies perform under different structures.
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Every year globalEDGE publishes its Market Potential Index (MPI) in order to assess a market’s attractiveness for international business. The Market Potential Index provides a detailed ranking of 26 emerging countries. With the MPI, determining which international market to enter is no longer an overwhelming task. Emerging markets are ranked based on several dimensions, allowing appropriate marketing strategies to be developed for each particular country. This year the MPI highlights several significant trends among emerging markets. We will now take a closer look at some of these trends in order to obtain a better idea of the importance of emerging markets in international business.
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Until now, China has never shown much interest in Middle Eastern investment. If it is able to establish a relationship with the Middle East, it can take advantage of arguably one of the most volatile areas in the world. In an area where westerners have long feared to go, China seems very interested in the diplomacy, economics, soft power and security. Upon helping in the war in the Middle East, China has begun to fully immerse themselves in the Middle East in an effort to increase their involvement in the area.
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The past five years has seen an increased importance placed on a country's level of debt. Trying to deal with this problem can differ greatly by country. From the gradual debt reduction approach seem to be preferred by the United States to the austerity measures that became a popular tool by Eurozone governments, countries are waking up to the realization that too much debt is a bad thing. What is too much debt? The groundbreaking academic paper released by Carmen Reinhart and Kenneth Rogoff in 2010 seemed to have solved the problem when the models they ran indicated that when a country exceeds a 90% debt to GDP ratio it greatly diminishes growth rates.
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Back in February, a colleague of mine wrote a blog post regarding the European horsemeat scandal in which horsemeat was advertised as beef in supermarkets. He described the implications that this might have concerning the global supply chain. One quote of his that proved to be shockingly accurate was, “…that the recent events involving horsemeat are only the tip of the iceberg.” Yet another food safety scare has arisen in China, where people are getting served rat meat for dinner instead of the requested mutton meat. China has experienced other food scandals in recent years, mostly involving toxins detected in dairy products. These food scandals have resulted in increased international trade, especially with dairy products, and the much needed increase in food-safety regulation in China.
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One of the most significant trends of the past several years has been austerity measures taken by governments all over the world in order to try to keep their budgets in control. Much of the support for these actions came from a 2010 paper by Ken Rogoff and Carmen Reinhart of Harvard entitled Growth in a Time of Debt.
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Globalization is the worldwide movement to increase the flow of goods, services, people, real capital, and money across borders in order to create a more integrated world economy. Previously, I wrote of international trade in antiquities, but let take a look at trade during antiquity and how it has affected today’s economy. Trade networks have always followed the trends of politics, economics, technology, and most importantly culture. Exotic luxury goods demanded by elites encouraged trade to gain momentum: Incense Route, Silk Road, Amber Road, Spice Route, and Tea Route. Soon, economics became so interconnected that World Systems became dependent on each other.
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Japan is the world’s third largest economy and the United States is the largest economy in the world ranked by GDP. But, these two huge economies do not have a free trade agreement, which strikes the question – why not? Obviously, there are a lot of reasons why these two great nations have not struck a deal yet, but one could be on the horizon.
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Jobs, a word that stirs up many emotions, and as of late mostly worry. For those of all ages the economy is worrisome. From those who have been loyal employees at the same company for thirty years to those stepping off of campus this month with the ink still wet on their diplomas. All are troubled with what the future holds for them. Every year, at this time, the discussion resurfaces and as graduation inches closer for us here the thought of life after school becomes ever more prominent.