An underground controversy right now is the tariff laws surrounding cherries. The cherry market is seeing a trend that many other states and countries are dealing with, specifically in dried cherries that are used for canning and juice. The decision made on this product could affect how the United States deals with foreign imports on a global scale.
globalEDGE Blog Archive January 2020
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China is currently undergoing its worst pork crisis. Since recognized in August of 2018, the African swine fever, the epidemic that has caused the total pig population to shrink by around 130 million, or more than 40%, has caused an estimated $140 billion in direct losses as of December 2019. The spread of the disease sent pork prices skyrocketing. China’s inflation reached a nearly eight-year high in November after pork prices soared 110% year-on-year. This even led to the culling of almost 1.2 million pigs to stop the spread of the virus, which is highly contagious and fatal in pigs. China produced 54 million tons of pork in 2018, according to official statistics, but was expected to produce only 40 million tons in 2019. Rabobank, the Dutch financial services company, estimates Chinese pork production will fall further to 34 million tons in 2020. Although the disease has been devastating for China, it is the opportunity of a lifetime for pork producers outside of the country.
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By now, everyone has heard of virtual reality (VR). For the past decade, scientists and engineers have tried to improve this technology to be more user-friendly and affordable. Companies around the world are all investing in this "next big thing". Thanks to their hard work, VR has become not just something in fantasy movies but also a technology that can be used in daily life.
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There is really no other way to put it—every day, a countless number of people shave hair off of their face and body with razors. The image of ideal, clean-shaven men and women has become a cultural staple of a large portion of society, marking the sign of adulthood and prestige amongst much of the global population. However, recent disruptions to the global razor industry—including the trend of facial hair and introduction of subscription blade alternatives—have changed the playing field for the first time in almost a century.
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Over the past 10 years, advances in technology have led to economic growth as well as stability for many markets throughout the globe; however, one of the most exciting advances is still yet to come: the self-driving car. As tech companies continue to test and develop software that has the ability to control a car’s every move, there are some implications that have sparked global issues. Three of the world’s four largest economies are involved in a debate caused by issues relating to consumer privacy, trade disputes, and business opportunities.
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Although the news of the Australian bushfires has only become popularized in the last two months, firefighters have been battling the fires since September of 2019. Since the start of the fires, more than 15.6 million acres of land have burned, and the fires are not expected to stop for at least another month.
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The Toledo-based pizza Titan, Marco’s Pizza, has plans to expand into Costa Rica, Jamaica, Mexico, Puerto Rico, and the Cayman Islands. The company wants to add over 50 franchise into the international arena by 2025. While these plans seem ambitious, Marco’s Pizza is already experiencing massive success in Puerto Rico. The company entered the U.S. territory in 2015 and will have 19 franchises by the end of the year.
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South Sudan, the world’s youngest country since it declared independence back in 2011, has lost the financial support of its primary backer, the United States. While this comes as no surprise considering U.S. officials gave South Sudan’s ruling elite a mid-November deadline to form a unified government, it is compelling considering the United States has spent $11 billion in financial aid, far eclipsing other donors.
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The United States and China have been in a trade war since July of 2018 when U.S. President, Donald Trump, imposed large taxes on imported Chinese products. President Trump declared a 15% tax on many American goods, and Beijing has fought back with 5-25% taxes on American goods. These taxes have created tension between the two country's markets, making it harder for businesses to sell in either country. But due to new agreements, this trade war may be coming to an end.
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The United States has a long and controversial history within the Middle East. The U.S. maintains a large military presence in the region that has persisted for decades. The most recent conflict began early into the new year with the killing of the Iranian General Qasem Soleimani on Friday, January 3rd, an attack that was ordered by the United States military and Commander in Chief, Donald Trump. The U.S. Department of Defense stated that the general was part of a “Foreign Terrorist Organization... responsible for the deaths of hundreds of American and coalition service members.” The Supreme Leader of Iran called for revenge, and Iran shot missiles towards United States bases stationed in the Middle East, though they resulted in no casualties. Unfortunately, Iran did shoot down a civilian airplane, killing 176 in the process. While initially denying the attack, Iran admitted accidentally striking down the plane which contained many Canadian and Iranian citizens, stating they believed it was a cruise missile.
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A health-and-wellness storm has been sweeping through countries around the world. It has affected and shaped numerous industries, from food to technology. Of course, the ever-changing fashion industry is hopping on the bandwagon as well. This time, it has partnered with the sports industry to create apparel that can be worn not only during workouts. Athleisure wear gave exercise attire a stylish twist in addition to innovative fabrics that are designed for people to have a laid-back, yet stylish lifestyle.
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Indian apparel exporters have got some things to worry about on their hands: the flat growth of apparel demand in the United States for the last eight months and the severe demand slowdown in the European Union (E.U.). Retail sales in the U.S. have remained flat during 2019, following growth of approximately 4.6 percent during 2018. What might follow this is an undoubted effect on order flow but could also result in a renegotiation of trade regulations and the receivable cycle for Indian exporters.
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As Britain continues with the process of exiting the EU, it appears that globalism has slowed into a more stagnant condition; however, there is one area where globalism continues to expand rapidly: the flow of digital data and information. With blockchain acquiring most of its fame from being the back-end technology that powered cryptocurrencies like Bitcoin, it is now blossoming across multiple industries. The potential of this up-and-coming technology is full of surprising possibilities for the future of international business. In the coming times, we will not only see how blockchain technologies will lead to greater efficiency, but how they will drive the global economy into a new age.
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Just a few years ago, video games were no more than mindless games children and teens played to pass time. Parents would gripe about how their children spent too much time on their phones or gaming systems and, instead, they should focus more on schoolwork that would better prepare them for their future. But what if playing video games could make someone more money than going to college, earning a degree, and working a typical job could? Well, the world of eSports is doing just that.
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Throughout the world, sustainability is a growing trend. Consumers are beginning to recognize their contribution to climate change and habitat destruction, and a sense of social responsibility is growing. The tourism industry is no exception. Tourism is responsible for about eight percent of global carbon emissions. A single person flying from New York City to Paris generates 1,812.5 pounds of carbon dioxide according to Sustainable Travel International. So, let’s look at how people are changing their travel habits and how it’s affecting businesses around the world.
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After a brief hiatus for our winter break, the globalEDGE team is back on campus and will return to our regular blog schedule. This semester, you can again expect to read insightful and informative posts Monday through Thursday of each week. We look forward to reconnecting with our audience and are excited for the next 16 weeks.