globalEDGE Blog Archive October 2024

Semiconductors are a massive piece of the puzzle of different types of electronics and vehicles in the automotive industry. The automotive industry is becoming more software and electronic-based, making semiconductors extremely important. North Carolina was hit heavily by Hurricane Helene, causing landslides, historic flooding, and damage throughout the state. A small town named Spruce Pine has mines that produce the world’s purest quartz, a key component in producing global semiconductors. The Spruce Pine mine is the most crucial for the semiconductor manufacturing industry, the solar panel industry, and all the industries that use these components in their products. 

Green finance is quickly gaining popularity in developing economies as more nations realize it can promote sustainability and economic prosperity. Financial operations and investments that explicitly assist climate-friendly and ecologically sustainable initiatives are called “green finance.”

As many people go around the world to travel and enjoy the scenery of various attractions, we are starting to see how the traveling industry has shifted towards getting a better understanding of what travelers want in their destination. The market size for tourism has been making a comeback over the last few years since the pandemic, regaining their sector amount from $0.8 trillion in 2020 back up to $2 trillion in 2024. On top of it, WTTC announced this year that the travel industry has put approximately $11.1 trillion toward the global GDP. Travel and tourism will take over 11.4% of the economy by 2034, leading to a $16 trillion contribution. But now the question is, what makes this industry appealing for travelers to visit various countries?

As birth rates around the world continue to shrink, world governments are spending billions of dollars to combat this. Yet, there has been little progress in slowing down the continued shrinking birthrates through Europe, Asia, and the United States. This has caused worry in governments around the world about the increased burdens on their economies and the lack of workers needed.

Last Wednesday, Chinese startup company Deep Blue Aerospace announced their plans to offer space tourism flights by 2027. The company is selling the first two suborbital tickets, which cost 1.5 million yuan or 211,000 USD, in a live streaming event featuring chairman Huo Liang today, Oct. 24.

Since we last took a glance at cryptocurrency and its impact on the global economy, the digital currency market has undergone some major expansion.

Autonomous or self-driving cars were once an idea in a sci-fi movie. Even if this seems like a farfetched idea, we see autonomous transit starting in more locations worldwide.

Oktoberfest is an annual festival in Munich, Germany, consisting of traditional Bavarian music, parades, wagons, carnival rides, food, and drinks. It originated over 210 years ago and was inspired by the celebration of Princess Therese von Sachsen-Hildburghausen's marriage to the Crown Prince of Bavaria, who later became King Louis I. Since then, it has only been canceled 24 times due to political climates during wars.

Asian economies will become growing players on the international scene as we look toward the years to come. As the American economy faces challenges, nations such as Vietnam and India are blazing their trails to prosperity, each with its own set of obstacles and chances.

The global landscape of international trade is experiencing a significant transformation, primarily fueled by the actions of powerhouse nations like the United States. In a move to safeguard its interests, China is stepping up its efforts to protect its firms and exports as the U.S. finalizes substantial tariff hikes on Chinese goods.

Live concerts and shows have been around for the longest time. The first live concert hosted by the public was conducted by John Banister, a violinist, in London in 1672. However, throughout the years, it has become a social phenomenon for many artists worldwide to partake in for the fans. With every ticket purchase, we not only secure our entry but also engage with the business behind ticket sales. This ties in with the music industry as it is known to build one of the most profitable for artists and record companies besides merchandise and is more modern with streaming services. But what problems are we seeing regarding the business behind artists distributing the tickets and fans obtaining the tickets?

The looming arrival of Hurricane Milton has sparked significant concern in international business, with the Category 5 storm bearing down on a key industrial and export region in the Atlantic. As Milton accelerates towards the U.S. Gulf Coast and Central America, experts predict widespread disruptions in the global supply chain, manufacturing, and energy sectors.

As the conflict with Israel expands, many people are worried about the price of oil skyrocketing. However, due to a lack of reliance on Middle East production, increasing global production and decreasing demand for oil should help to keep prices steady.

“Clean beauty” has become more than just a trend. Consumers demand transparency, sustainability, and natural ingredients in their beauty products, so the industry has been racing to keep up. But behind the allure of “clean beauty” lies a complex web of supply chain problems and the threat of climate change. Creating beauty products that are truly clean is far from simple, as many brands and business owners are discovering.

One of the largest companies in this sector, Google currently facing its second large antitrust trial, focusing on its ad tech. Google has dominated the search engine market. It is the largest search engine in all major markets, excluding China and Russia. While Google is the only company being looked at, the outcome of this trial could have significant effects on the whole industry.

Gone are the days when a rising tide could be said to lift all boats. According to the Intergovernmental Panel on Climate Change, sea levels rose almost twice as much between 1993 and 2010 as they did over the previous century. Its forecast is for a rise of 0.93 meters by the year 2100. Yet another recent study from May 2019 indicates that sea levels at the end of the century could surge by over 2 meters. 

The production of orange juice dates all the way back to the 1500s, when Spanish explorers planted the first Orange Trees in Florida, United States. However, it wasn’t commercialized until almost 300 years later when industrial innovations allowed greater product distribution. Since then, the orange juice market has dramatically expanded and has now become a breakfast staple for consumers all around the world.