globalEDGE Blog Archive September 2018

The International Business Center in Michigan State University’s Broad College of Business is delighted to announce that the Center has been awarded a grant by the U.S. Department of Education to continue to operate a Center for International Business Education and Research (CIBER). MSU is the only university in Michigan, one of three in the Big Ten, and one of only 15 universities in the country given this privilege.

As the nation’s pioneer land-grant university, MSU has been a leader in international education and outreach since 1855. With a focus on quality, inclusiveness, and connectivity, Michigan State University has engaged in a strategic and transformative journey to become the model land-grant university for the 21st century. We call our destination world-grant and focus on being locally relevant and globally engaged.

Through grant and matching funds, the $3.3 million project for 2018-2022 is titled “Strategic and Sustainable Value Chains for Increased International Competitiveness.” This value chain perspective provides CIBER with a perfect role within the Broad College of Business and on the Michigan State campus.

As part of the celebration of the globalEDGE blog’s ten-year anniversary, we are looking back at the most popular blog posts of the past decade. Today’s featured post from October 2015, by contributor Zheng Nie, looks at how refugees impact the economy of their host countries. This blog post is the most popular post from the globalEDGE blog in the past ten years.

In celebration of the globalEDGE blog’s ten-year anniversary, we are looking back at some of the most popular posts of the past decade. Today’s featured post, originally posted I April 2012, comes from one of our most read globalEDGE contributors, Evan Pennisi.

To celebrate the ten-year anniversary of the globalEDGE blog we are looking back at some of the most popular blog posts of the past decades. Today’s featured post is from October 2014, when globalEDGE contributor Jacob Simon examined the impact of time zones on international business.

Started in September 2008, this year marks the 10th anniversary of the globalEDGE blog!  The globalEDGE blog was started as a way to better interact with our users by sparking discussion on current and developing topics in international business. Over the past ten years, the globalEDGE team has written thousands of blogs spanning a wide array of international business topics. The blog has also provided our diverse team of authors a platform to share their unique perspectives and outlook on the business world.

The aviation industry has advanced society in numerous ways despite its relatively short existence. Being the fastest and most convenient form of transportation for long-distance travels, people from all over the world fly daily for education, leisure, and business. In fact, airlines have reported a total of 4.1 billion passengers in 2017 alone. One downside of the industry is its price instability. The major determining factor is the cost of fuel, and as we all know, fuel prices are extremely volatile. The International Air Transport Association, an association composed of 290 member airlines, announced at its recent meeting that the profit forecast for 2018 is going to decrease by 12% due to the unexpected increase in fuel prices. According to the Jet Fuel Price Monitor, fuel prices have already increased by 24.97% compared to last year.

The globalEDGE Newsletter is Back! This month's newsletter discusses recent updates to the globalEDGE website and features a blog post by Dr. Tomas Hult exploring whether the United States should be a part of more regional trade agreements. Be sure to subscribe via the link below to receive the newsletter directly to your inbox every month.

Today, the next big advancement for the world just might be the arrival of fifth-generation (5G) wireless network technology. The new 5G technology plans to use higher-frequency spectrum known as millimeter waves, which can carry more data than other types of the spectrum but can’t travel as far or penetrate many hard materials, which means at first, the coverage will only be available in select cities.

Have you visited the globalEDGE Business Beat recently? In last week's segments, Dr. Tomas Hult discussed a variety of topics, including the winners and losers of trade agreements, the impact of tariffs on US farmers, and the role of sustainability in business. The Business Beat is hosted by Dr. Tomas Hult of the Broad College of Business at Michigan State University and consists of brief audio segments that dive into current topics impacting the international business world. Past segments can be viewed by date or by speaker on our page featuring the Business Beats.

Visit the globalEDGE Business Beat page today to hear from experts in the realm of global business and to expand your international business knowledge!

To a large group of the world population, luxury brand goods sit on a mythical alter—their rarity, expensive price point, and high demand make them difficult products to obtain.  From items like watches and handbags to clothing and shoes, these retail brands carry the ‘best of the best’ merchandise and make it a point to tell consumers.  Recent news from the United Kingdom-based company, Burberry, shows the lengths that luxury brands go to in order to preserve their pristine, high-status image, and whether or not they are worth it.

Since 2011, the Swedish Institute has handed over the keys to the country’s official Twitter account to a new Swede every week, letting them tweet anything they please. This tradition will come to a conclusion on September 30, 2018. The goal of this was to show the country as it really existed through the eyes of various citizens. This innovative marketing strategy has won approximately 30 awards, including the international Grand Prix, two Silver Lions in Cannes Lions, and gold at the Clio Awards. At the end of this project, 365 account users will have tweeted around 200,000 tweets on @Sweden.

Many countries around the world motivate and support young citizens to travel and study outside their home country. Governments often invest in scholarship programs that provide students with the chance to leave their home country and learn in educationally advanced countries such as the United States, Britain, Canada, and Australia.

Last week the globalEDGE blog looked at how U.S. monetary policy, specifically with respect to inflation rates, was impacting debt markets in emerging economies. Today’s blog post continues the discussion about the implications of the U.S. Federal Reserve’s inflation policies and also provides a survey of currency inflation rates across the world.

Earlier Today, Michigan State University announced a historic $30 million gift from alumnus and real estate developer Edward J. Minskoff. The gift is the largest single gift received from an individual in MSU's 163-year history and will be used toward completion of the Business Pavilion at the Eli Broad College of Business. In recognition of the gift, the 100,000 square foot pavilion, designed with state-of-the-art collaborative and immersive learning environments, will be named the Edward J. Minskoff Business Pavilion.

In making the gift Mr. Minskoff said "Michigan State is an important university and important to my past. It gave me a strong foundation, so I am privileged to be making a contribution that will help Michigan State continue to attract and prepare future business leaders".

More information about this historic gift and the Business Pavilion can be found on the Eli Broad College of Business website.

The sport of baseball boasts ties across the world, carrying tradition and holding economic value in countries like the Dominican Republic, Japan, China, and the U.S. For countries around the globe, baseball has been, or is, necessary to their way of life. Recently, however, baseball has seen a substantial decrease in its popularity at all levels. From Major League Baseball to Little League, fewer people are participating in, purchasing goods from, and supporting baseball games. This has a direct influence on many global economies, specifically regarding the equipment with which baseball is played. The question for many retailers and consumers is, what does the future hold for the sport of baseball and its business operations?

Recent currency declines against the U.S. Dollar highlight a dependence of emerging-market currencies on dollars. As the Federal Reserve continues to raise interest rates and subsequently boosts the power of the U.S. Dollar, some emerging markets have seen weakness in their own currencies. Two notable currencies displaying weakness are the Argentine peso and the Turkish lira.

With the start of a new academic year, the entire globalEDGE team has returned to Michigan State University after spending the summer working, studying, and traveling across the world. We are excited to share these new perspectives with our readers through the globalEDGE blog, which will return to a regular schedule with new posts Monday through Thursday. The team will also be updating multiple sections of the website and working to develop brand new content for our users.