Portugal is a good market for U.S. exports and it's comparatively easy to do business with. Surprisingly, building relationships there can lead to sales in other parts of Europe and also in Brazil, a former colony and one of the fastest growing markets in the world. Listen to this podcast featuring U.S. Commercial Service Senior Commercial Officer Dillon Banerjee from the embassy in Lisbon.
globalEDGE Blog - By Author: Nihar Bihani
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The globalEDGE website (home of this blog) is a part of the Michigan State University's CIBER (Center for International Business Education and Research) and is affiliated with MSU's Eli Broad College of Business. In recent years, Michigan State University has made global awareness and engagement of its students, faculty, staff, and other constituencies an institutional priority. MSU also has world renowned faculty involved in international research, teaching, and service in more than 170 countries.
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The author of "Go Global to Win" and "Global Business Guide" explains why now is as good a time as ever to go global.
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You may know that Michigan State University (this blog is managed by MSU's international business center) is known for its excellence in Supply Chain. As a result, we here even dream in Six Sigma! And an error rate of 1 in 6 million is a dream come true! Watch a short video about the "dabbawalas" in Mumbai and the near perfect lunch delivery service they provide:
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We wanted to let you know about a free global virtual seminar on business strategies for China & India and how to leverage these economies for global advantage. This webinar is organized by ICA (India, China and America) Institute, a non-profit research institute working to foster research and dissemination of knowledge on the rise of China and India and their impact on global markets, global resources and geopolitics of the world.
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Listen to an interview with Diane Jones, Senior Commercial Officer at the U.S. Embassy, Tripoli, Libya. She talks about opportunities in Libya and what it means for American exporters. She also discusses the size and scope of vaious projects and challenges of this growing market. Finally, she explains how the U.S. Commercial Service can help U.S. companies succeed in Libya.
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Oversized ships crowd the high seas while global trade is at its lowest. These jumbo vessels, many longer than three football fields and able to carry over 13,000 containers, can provide tremendous economies of scale if the shippers can fill their holds. Meanwhile, a ship capable of carrying 22,000 containers has been designed by a South Korean shipbuilding company.
With overcapacity and a drop in global trade, shipping rates per container have fallen 90% from a year ago. In fact, some ships will take containers for free and only charge for fuel and transit fees. Yet, shipping companies aren't cancelling orders for new ships, allowing global fleet to increase by 12%, including 200 ultralarge ships in service by 2013.
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CNN's World Report on Climate Change - a 3 part series. A synthesis of incredible information on the issue, with numerous global business implications.
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A recent Business Week article highlights how South African companies such as SABMiller, Standard Bank, and others are unlocking Sub-Saharan Africa as the biggest investor in the region - $8.5 billion thus far! While South African beer maker SABMiller leads the way in the region, Johannesburg cellular provider MTN is defying conventional wisdom by providing cell phones to people earning less than $2 a day. And neither the combat in Congo nor the drop in commodity prices have ruffled South Africa's mining company Metorex. In fact, the knowhow South Africans have gained on the continent is making their companies attractive to foreigners with ambitions in the region.
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There sure is sun, wind, and water everywhere in the world - well, almost everywhere. So can other cities duplicate what Dardesheim, a small town in Germany, is doing for its energy consumption! Whatch this video and find out.
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Lists are interesting creatures - some find them informative while others simply disregard them. The 2nd annual list of the top 5,000 fastest growing private companies in the U.S. is an interesting follow-up to the recent Global Entrepreneurship Series on our blog. The list is a comprehensive look at the most important segment of the economy - America's independent-minded entrepreneurs. Taken as a whole, these companies represent the backbone of the U.S. economy.
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This is the 3rd post in a 5 part series on global entreprenuership, in celebration of the Global Entrepreneurship Week.
Now that you've decided to expand your small business internationally, you have to make some big decisions about what you are going to do next. You'll have to make judgments regarding many important questions, such as: Where is the best place to sell your product? What markets are particularly receptive? What is the best way to market your product in different regions? Is there a good supplier, or partner near your international target market? These questions are all fundamentally about strategy.
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Less than 15 years since the 1994 genocide, Rwanda is leading the world in its progessionist thinking about women. This is particularly surprising becase this East African nation lies in a continent that has been dominated by the rule of men. In Rwanda however, a country of 10 million with 55% women and 60% of the population below poverty line (based on gE statistics), the popular will is for women to drive the economy by filling ranks of Government.
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World Time Server - provides current, accurate (atomic clock sync) local time around the world, including adjustments for daylight saving around the world!
Universal Currency Converter - for the top 85 currencies sorted by country name. Data based on live, up-to-the-minute mid-market currency rates.
Worldwide Metric Converter - for length, weight, pressure, volume, and temperature conversions.
World Electric Power Guide - helps you decide where you can and where you cannot use your electrical appliances in the world.
Worldwide Weather Station - for reliable and accurate weather information from around the world.
Online Newspapers Worldwide - find online newspapers by region, or individual countries.
Earth Calendar - a daybook of holidays and celebrations from around the world!
Aerial Photos From Around The World - stunning aerial photos from virtually every country!
These resources were discovered on the GlobeTrade website. Do you know of other useful global resources? Please leave us a note by clicking on the comments link, and we will add it to this list.
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Election day in the U.S. is almost over, but how many Americans actually exercised their right to vote in this historic 2008 Presidential election, only time will tell. Based on past record though, the U.S. has one of the lowest percentages of voter turnout. Average election turnout since 1960 is only 54% in the U.S - that's just over 1 in every two people that are eligible to vote. In 2004, 60.1% of eligible voters in the U.S. cast their vote.
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The answer is NO, but New York City is the closest! At least, that's what a recent report, The 2008 Global Cities Index, claims. This report is result of a research study conducted by The Chicago Council on Global Affairs, A.T. Kearny, and Washington Post.
60 cities, including the world's biggest & most interconnected cities, were ranked based on the dimensions of Business Activity, Human Capital, Information Exchange, Cultural Experience, and Political Engagement. Some of the highlights are provided below, but read the full report to find out which cities are bearing the brunt of the world's financial meltdown, where is crime the highest, and where is climate a major concern.
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The globalEDGE website is run by MSU-CIBER, which is one of 31 CIBERs across the U.S. CIBER stands for Center for International Business Education and Research. Another CIBER at George Washingon University in D.C. recently held a discussion on the origins and implications of the current global financial crisis. It was a very interesting panel discussion with some extremely bright individuals offering a unique perspective not influenced by the mass-media. There is a video you can watch here: http://business.gwu.edu/financialcrisis/. Be sure to check it out!
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The week of November 17-23, 2008 will be the first ever Global Entrepreneurship Week. The week will be a coordinated effort of dozens of countries across the globe coordinating activities aimed at young people. Why? To think big. To turn their ideas into reality. To make their mark. Additional details such as participation in the various activities and/or sponsorship opportunities can be found on the following website: unleashingideas.org. Also check out their blog: unleashingideas.org/blog/.
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Recently President Bush and heads of state from 11 other nations in the Western hemisphere met in New York to sign the Pathways to Prosperity in the Americas initiative. The agreement focuses on further cementing regional “trade and investment liberalization, social inclusion, development, rule of law, and democracy.” Although the agreement is largely symbolic at this point, talks are planned for the end of the year to discuss possible policy changes that can advance the goals of the initiative. In his formal announcement of the agreement, president Bush declared that the deal provided “a forum where leaders can work to ensure that the benefits of trade are broadly shared,” and expressed optimism that cooperation would enhance and strengthen the relations between all signatory nations.
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Over the past few weeks, the globalEDGE team has been revising the Country Insights pages to provide you with the most current information available. We’re happy to announce that the Country Insights section is 100% up to date! This includes all statistical data provided by the CIA World Factbook and the background notes from the State Department.
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I had almost given up on news that isn’t somehow related to “credit crunch” or “bailout,” until I stumbled upon a thought provoking topic in a recent issue of The Economist: "The world has a water shortage, not a food shortage."
My immediate reaction was: "WHAT?" But the numbers seem to make sense – while people only drink about 2 liters of water a day, almost 3,000 liters of water goes into the food people eat every day (add a few more liters for the meat that takes far more water to produce). The article focuses particularly on the inefficient use of water by farmers based on today’s methods of agriculture. In fact, the International Water Management Institute (IWMI) predicts that as population grows and incomes rise, 2,000 cubic kilometers of additional water will be needed each year to keep everyone fed!
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Do brands create nations, or do nations create brands? That's a thought provoking question in today’s increasingly global economy. Consumers – regardless of location – determine the fate of every brand. Similarly, the global rise of commerce and transportation in the past few decades has also led to a rise in immigrant workers working on these brands in every part of the world. The article on brandchannel.com that discusses the lessons learned from the list of 2008 best global brands points out that the phrase “Made in ____” should really be expanded to “Made in ____, by ____” – e.g., Made in Italy, by Vietnamese!
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Japan, the world’s second-largest economy, has a shrinking population of working adults and is expected to lose 70% of its workforce by 2050. This forecast is based on Japan having the world’s highest proportion of people over 65 and lowest proportion of children under 15. A recent article in the Washington Post explains that Japan’s social and corporate cultures are the catalysts of this trend.
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When the fast money round in the popular game show Family Feud has globalization as one of the questions, “the survey says” …China! But can this help Latin America win the jackpot? That is an interesting question and here’s why…
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Got the entrepreneurial spirit or prefer working for a small business? After comparing 181 economies across the globe, the collective knowledge of 6,700 business experts and government officials suggests that Singapore, New Zealand, and United States have the friendliest business climate for startups and small companies (based on a recent World Bank survey).
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The Beijing Olympics are over and the Olympic flag has been handed over to the new host for the games. Having done it twice before (in 1908 and 1948), it is London’s turn once again to host the 2012 Olympics. However unlike the last two times, London’s mayor has recently appointed an IBAC (International Business Advisory Council) to advise him on issues related to the globalization challenges and policies to help make the British economy more competitive in the world. The Games are clearly of enormous importance to London and London's business. The main role of the council will thus be to advise the Mayor on developing opportunities, initiatives and ideas that make London a more appealing place for companies and their employees to live and work in.
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A recently published report in the Latin Business Chronicle highlights the fact that cross-border trade among Latin American countries has grown significantly in the recent past. Imports, exports and mergers among Latin American countries that were unthinkable a decade ago have begun to play a key role in the business environment in that region. And although several economies in Latin America are complementary (i.e., they compete with one another), new alliances and trade agreements within Latin America have recently surfaced.
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The MSU-CIBER (Michigan State University's Center for International Business Education and Research) team that edits the globalEDGE website is pleased to announce the launch of this blog. In this 'International Business Blog' we hope to discuss several topics related to international business and global trade on a regular basis. These topics may include news and general discussion on global economies, cultures, education, regulations, travel, and so on. In addition, we hope to familiarize you even further with the wealth of resources and data available on the globalEDGE website itself.
To make this blog informative and exciting for everyone, we encourage you to engage with us in the ongoing discussions. Feel free to leave comments to the various blog posts or contact us at any time with your ideas or suggestions. Hope you enjoy reading this blog and we at globalEDGE look forward to learning from you along the way. Once again, welcome!