Our planet faces a pressing environmental crisis. From overflowing landfills to plastic pollution in our oceans, unsustainable waste management practices threaten our ecosystems’ health and well-being. The good news? Many countries and companies are rising to the challenge, implementing innovative solutions, and inspiring a global shift toward a greener future.
globalEDGE Blog Archive March 2024
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Major African cocoa plants in Ivory Coast and Ghana have reduced processing chocolate due to inability to purchase beans. These two countries together contribute nearly 60% of the world's cocoa production. Rising temperatures and weather conditions have stressed and damaged these crops in West Africa, and this halt is anticipated to lead to a surge in chocolate prices globally. Following three years of little cocoa harvests- and another three anticipated- chocolate manufacturers have already raised prices for consumers, with chocolate prices doubling over the last year and rising to all-time highs.
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While cultural intelligence has been a notable skill in today’s diverse business world, emotional intelligence is a new buzzword, making its mark. Emotional intelligence is about understanding and managing our emotions and those of others. This shift has occurred, as emotional intelligence is more crucial in the business world than ever, especially with the rise of artificial intelligence.
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One of the most divisive debates of 2024 is whether or not the United States government should ban TikTok in the United States. The ban offers ByteDance, the creator of the app TikTok, the option of selling to an American company or being removed from US consumption within six months of the ban taking place. On March 13, 2024, the House of Representatives passed the TikTok ban bill. It is set to head to the Senate, where the outcome is unclear. Considering this possibility, let’s look at TikTok’s financial impact in the United States and its correlation to other nations using the social media platform.
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Over the past few years, we have seen the impact of Japan’s pop culture worldwide. Whether it is music, food, or fashion, the trends that Japan brings are unavoidable. However, one of the things that has taken the world by storm is Japanese animation. It is one of the primary sources of content for Gen Z, with statistics showing that 44% of Americans aged 18-24 watch famous anime titles. Furthermore, it is expected for the anime industry to generate 69.8 billion dollars by 2032. With various companies supporting many of the streaming platforms for the consumers outside of Japan to watch anime, regions such as in Europe are showing anxious interest to be part of the market. As we are seeing the anime merchandising market size to be 2.07 billion dollars by 2030 with the support of conventions such as Japan Expo and SunnyCon Anime Expo.
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The Red Sea Houthi rebel attacks on ships are adding another shock to global trade for consumers and suppliers alike. After pandemic-related supply chain jams, delays were caused by the Russian-Ukraine war. The Houthi rebels in Yemen are attempting to stop Israel’s offensive against Hamas in Gaza, which is now causing more trade delays across the globe.
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Corporate profiteering, the relentless pursuit of excessive profits without ethical considerations, has become a significant factor in the realm of international business. In the interconnected global economy, the actions of companies in one country can have far-reaching consequences, particularly in terms of inflation. Corporate profiteering affects inflation and has created a global ripple effect.
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Paris’s recent decision to raise parking prices for SUVs and larger vehicles could lead to a significant decline in the global car industry but would specifically impact the United States. The starting price for parking in the inner city of Paris for a non-electric SUV weighing 1.6 tons or an electric SUV weighing 2 tons is 18 Euros (19.54 American Dollars) an hour. While the starting hourly price for smaller cars is only 6 Euros. But the increase in pricing doesn’t stop there; after 2 hours of parking, the prices rise even more. For those looking to spend a day in the city, a six-hour parking rate for an SUV driver will cost you 225 euros compared to the regular rate of 75 euros.
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As climate change is starting to shift the reality of our Earth and its inhabitants, nations worldwide are trying to combat global warming. These efforts include reducing carbon emissions, recycling, and transitioning from oil to electricity and alternative fuels. While this transition is timely, and many nations have given themselves decades to reach their goal, nations have already started to take the initiative in creating a healthier and more eco-friendly environment. Biogas may have emerged as the answer to achieving their decarbonization goals in India.
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The UEFA Champions League is a well-known competition from around the world. It brings all the top soccer clubs together from the top European Leagues. Around 80 teams can compete in the 32-team group stage in its current format. The competition allows for great matchups that domestic leagues can’t. For the 2024/25 campaign, UEFA, the Union of European Football Associations, unanimously passed a new format for the league. While the changes might seem small to the average eye, the implications can benefit the current state of European football.
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Last September, the World Bank announced it would begin implementing new steps to lend an additional 100 billion over the next ten years. This, along with other new initiatives, would allow the World Bank to lend 150 billion more to developing countries.
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Startups like Rivian Automotive and Lucid Group have faced complex challenges in the evolving electronic vehicle (EV) manufacturing field. These businesses, formerly commended for their industry-leading inventiveness and adaptability, now must deal with the challenge of producing and selling automobiles.
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Australia’s economy is one of the largest in the world, with solid industries in mining, agriculture, and services. Major cities, such as Sydney, Melbourne, Brisbane, Perth, and Adelaide, are centers of commerce, culture, and innovation. The country's relationship with Laos, in particular, has allowed it to flourish across multiple international business sectors.
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Over the past few decades, the global cultural landscape has undergone a seismic shift as new trends and entertainment forms emerged. South Korea, in particular, has become a powerhouse of integrating culture into Western media; the remarkable success of K-pop groups, the record-breaking rise of Netlflix’s “Squid Game,” and the widespread embrace of Korean cuisine, for example, reveal the country’s unparalleled impact on international business.
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In recent years, Airbnb has emerged as a challenge to traditional hotels. It offers travelers unique and personalized accommodations in homes, apartments, and treehouses. This platform has transformed how people think about lodging. Its innovative business model, impact on pricing, and guest experiences challenge the dominance of hotel chains and ignite the question of the hotel industry's future.
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The 21st century has marked a heightened sense of importance on reducing harmful pollutants and toxic gasses into the atmosphere. As a viable alternative, the spotlight has shifted to critical minerals, emerging as crucial resources on a global scale. Minerals like cobalt, copper, lithium, nickel and rare earth metals now play a pivotal role in the manufacturing of clean energy technologies, powering essential products such as wind turbines and electric cars. At the heart of this revolution lies the creation of the lithium-ion battery, a game-changing component driving the transition towards a cleaner, more sustainable energy landscape.