globalEDGE Blog - By Author: Evan Pennisi

Many people have heard about or remember the great “Space Race” between the United States and the Soviet Union from 1955 to 1972. Both countries fought for supremacy in spaceflight capability for national security measures and as a sign of ideological superiority. New technology resulted from this space exploration age including satellites, micro-technology, and other products that were later sold and commercialized to be used in everyday life. Education in mathematics, engineering, and science rapidly expanded during this period. Times are rather different now as many governments, such as the United States, are cutting space exploration budgets in light of economic hardships. The Economist has even claimed that the current state of the world marks “the end of the Space Age.”

This week’s blog series on the global e-commerce industry displayed the many benefits and trends within this rapidly growing industry. However, implementing a global e-commerce strategy can be a difficult and challenging task. These challenges can be overcome with resources right here on globalEDGE. To assist in the implementation of e-commerce on both a country-specific and global level, globalEDGE has a variety of useful tools and resources. Today we will a look at many of these resources.

With multi-nationals operating across the world, it is relatively easy for these companies to shift activities to countries where the tax rates are significantly lower or nonexistent. In recent years, this has caused significant political and public reactions. Citizens and politicians are looking to ensure that companies pay their fair share of tax. Leaders of the world's largest economies are scheduled to meet to determine whether the ratification of new global tax rules can solve widespread tax evasion problems. However, improving the tax system may prove to be a rather difficult task with large implications for the global business community.

International trade has allowed business to grow all around the world and has created an interconnected marketplace for goods and services. However, despite these major benefits, risks have also emerged. Experts estimate that 10 percent of medicinal goods around the world are counterfeit and the sale of counterfeit medicine has risen 90% in the last five years. This phenomenon has been attributed to the increasing amount of merchandise crossing borders and the growing sophistication of counterfeit methods. How has counterfeit medicine affected the global healthcare industry?

In today’s globalized world where businesses are operating in countries scattered around the world, understanding different languages can be extremely advantageous. Many professionals assume that speaking a common language with other cultures is enough for success. While in fact, spoken language is only 30% of communication. Cultural differences are inevitable in global business environments. Therefore, in today’s business world it is simply not enough to share a common language. To be successful, one must develop a diverse cultural perspective.

In 2008, Iceland’s entire banking structure failed causing a devastating economic recession. This caused the economy to contract by 6.6% in 2009 and an additional 4.1% in 2010. At the time, many thought this situation was incurable and criticized Iceland’s tactics for recovery. However, those critics proved to be wrong. Last year, Iceland’s recovered economy grew faster than both the United States and European economies. Now the country is ranked high in terms of economic and political stability. How exactly did Iceland complete its remarkable economic recovery?

In 2011, Portugal was hit by a severe economic crisis and the government needed an international bailout of $103 billion for austerity measures. The effects of this crisis are still relevant to this day as the unemployment rate in Portugal just rose to 14.1%. Simply put, this has been the worst recession for the Portuguese economy in more than 40 years. Now an important question remains unanswered—as a nation and a workforce, how do you recover from this economic hardship?

Over the past months the Ebola virus has claimed more than 1,300 deaths in West Africa. This health crisis is continuing to devastate people in West Africa, and is also having a shattering impact on the economies of Guinea, Liberia, and Sierra Leone. Early estimates have shown that the economy of these countries have been deflated by 30 percent due to the Ebola virus. The mining and agriculture industries have been hardest hit by the virus outbreak. Domestic economic concerns are certainly not the only problem. In today’s globalized economy, the virus outbreak is affecting international business activity.

At globalEDGE we are dedicated to providing important international business information to our users all around the world. For this reason, we have developed enhanced trade statistics for each country on our site. The country trade statistics pages on globalEDGE have just been updated to provide a visually appealing interface with easy-to-use features. On these new pages, you can view a country’s rank in terms of exports, imports, or trade balance. Additionally, top ten trade partners and export/import commodities for each country are provided in both a chart and table format for easy comparison.

The economy pages for each country on globalEDGE have been redesigned to provide additional economic information covering the entire spectrum of a country’s economy. The new pages have an interactive interface, where you can find the major economic indicators of a country alongside time series graphs of these selected indicators. The page showcases reliable economic information from various globally known organizations. There are six different sections on the new page including economic facts, GDP figures, economic indicators, labor & employment figures, and trade values. A radar graph is available in the last section, where the economic snapshots of countries are represented using a percentile rank system on six different dimensions. The radar graph may be utilized as a useful tool to compare the economies of countries.

A few months ago, Brazilian authorities officially announced that $2.3 billion will be spent on infrastructure projects alone for the 2016 Rio de Janeiro Olympic Games. These costs will rise as projects are added along the way, and efforts to solve Brazil’s infrastructure gap continue. The pressure on the country continues as Brazil will be the first South American country to host the Olympic Games. On top of the 2016 Olympics, Brazil is also hosting the 2014 FIFA World Cup this summer and has experienced delays in its infrastructure preparation. Therefore, the focus on infrastructure development has sharpened in Brazil. Now the question is: How will Brazil’s infrastructure growth impact its long-term prospects as an emerging country in the global economy?

As Russia prepares to make Crimea part of Russia, other countries have watched from afar and have developed plans to impose economic sanctions on Russia. Government officials from the United States have already signed an order enabling economic sanctions against sectors of the Russian economy. Leaders from the European Union are also considering their options as they meet in Brussels to discuss economic sanctions against Russia. With economic sanctions on Russia looming, the impact on Russia and the global economy remains to be seen.

The North American Free Trade Agreement (NAFTA) came into effect January 1, 1994, creating the foundation for economic growth and strengthening trade relations between Mexico, Canada, and the United States. Now in 2014, it has been over 20 years since NAFTA has been in place. To better understand the economic impacts of NAFTA, we have prepared a table showing trade statistics before and after NAFTA.

When naming the most innovative place in the world, Silicon Valley of the United States is usually everyone’s first response. However, that might not hold true in Europe. The tech-savvy country of Estonia is proving to be an important focal point for entrepreneurship and innovation. Right on the edge of Europe, Estonia has a total population of just 1.3 million. Estonia may be considered an extremely small country, but in terms of technology and innovation, it’s a giant.

The political and economic future of Ukraine remains uncertain despite a rapidly changing political situation. This uncertainty will undoubtedly affect economic conditions for those in Ukraine but also other countries supporting Ukraine. Officials from both the United States and the European Union have stated that they are willing to provide financial assistance to Ukraine. How will the future of Ukraine be shaped by this financial assistance and growing international relationship?

In today’s globalized world, products are made from components all over the world. The interdependence among countries is more important than ever and international trade serves as the backbone of economic growth prospects. With this interconnectedness comes great risk; however, great opportunity also results.

Latin America is filled with a myriad of natural resources, and for generations many Latin American countries relied on exporting these endowments for their wealth. However, the tides are beginning to change in Latin America. For the first time in history, a large number of Latin Americans are choosing to be entrepreneurs. In 2010, just 2.6% of the world’s applications for patent registration were filed in Latin America. With the new surge of entrepreneurship in the region, expect that number to change.

In December of 2013, American Airlines and US Airways have completed their long awaited merger to create the world’s largest airline. Earlier in 2013, the merger was blocked by the United States Justice Department due to concerns that the merger would adversely affect competition in the airline industry of the United States. In order to reach a settlement, American Airlines and US Airways agreed to give up several hundred gates at airports across the United States. Now the companies expect to save over one billion dollars in synergy with the merger. This merger will undoubtedly have a variety of effects on the global airline industry.

As the world becomes increasingly globalized, workers from around the world are experiencing increased opportunities to work abroad. This is exactly what is occurring in Canada. As the province of Alberta continues to boom economically, Canadian companies are in need of a labor supply. With too few Canadians to fill the extra jobs needed, Canadian firms have begun recruiting internationally. The international recruiting strategy has been very successful as Canadian companies were able to find an abundant supply of workers from the United Kingdom and Ireland. This development in Canada is a testament to the many benefits of international business.

International relations are extremely important for developing countries. Without support from abroad, funding infrastructure projects and economic development would be nearly impossible. This is exactly the case in Zimbabwe where government officials have turned to China for help. Recently, China has lent Zimbabwe $319 million to ease electricity shortages by expanding its Kariba hydropower station. Although this project will take an estimated four years to complete, it can have dramatic effects on the development of Zimbabwe and international relations in Africa.

While many members of the European Union struggle to recover from the global financial crisis of 2008 and the European debt crisis, the Baltic countries are making a strong comeback. The Baltic countries of Estonia, Latvia, and Lithuania have recently experienced real GDP growth well above the euro area average. While other countries like Greece, Italy, Spain, and Portugal continue to struggle in midst of European debt crisis, the Baltic countries are leading way to recovery. Lithuania and Latvia are predicted to remain the best performers in Europe, with GDP growth surging over 3 percent for both countries. Looking at the recovery path of the Baltic States, many business lessons can be learned from these countries.

When a business expands into a new international market, many obstacles and uncertainties stand before it. Although Africa is the fastest-growing continent today, managers in the region must deal with a variety of questions in order to achieve continued growth. In a market that has a volatile history like Africa, managing uncertainty effectively has been a critical aspect for many companies. International business managers also deal with many uncertainties as regulatory differences and political disputes are common when a company operates in several markets. Analyzing how managers in Africa deal with uncertainty can provide us with great insight on how to successfully manage an international business.

Since 1999, the music industry has experienced years of decline and for those who care about the industry, the past decade has been nothing short of a nightmare. With piracy increasing and record sales diminishing, many were worried that the music industry would never recover. However, recent reports from the International Federation of the Phonographic Industry (IFPI) shed rays of hope for the music industry. According to these reports, for the first time in 14 years, the global music industry experienced slight growth in trade revenues—increasing by 0.2 percent in 2012. Perhaps better news is that revenues are on pace to grow yet again this year in 2013. Could this signal that the global music industry has finally turned the corner and is poised to experience a new day & age of growth and profits?

With China’s rapid economic growth in the past decade, fortunes were made as the country experienced an economic boon. However, this fast-paced growth also had its costs. During this growth period, air pollution and traffic congestion increased dramatically in many major cities around China. Now the government and businesses alike are developing ways to solve the costly side effects of rapid economic expansion.

As time goes by, we often forget about the fast paced and dynamic environment that we live in. Over the past five years, the international business world has changed dramatically. Believe it or not, in just five years, rapidly growing countries have emerged onto the global economic scene, various industries have been drastically altered by technology, and start-up businesses have grown into international powerhouses. Today, in honor of the 5th year anniversary of the globalEDGE blog, we will look at global business facts and trends in 2008 and compare them to that of 2013.

When an economic downturn lingers over a market, generating profits becomes extremely difficult for a business. However, there are a few ways to reduce this cyclical business risk. One of the ways happens to be with the use of international business tactics. Perhaps surprisingly, a casino located in Las Vegas, Nevada serves as a great example of this risk reduction strategy.

The international trade of consumer products is a regular occurrence and nearly everyone in the world is aware of its role in the global economy. However, how many people are cognizant of the fact that cities use imported garbage from neighboring countries and turn this waste into energy? I am guessing that not many people have heard of this phenomenon. This is exactly what is happening in the city of Oslo, located in southern Norway.

From the hustling cities of Asia to the scorching desert cities of the Middle East, business travel is booming in emerging countries. Last year business traffic in the emerging markets of Asia, Latin America, and the Middle East grew substantially and major infrastructure projects are underway to accommodate the rapid growth in these markets. Most emerging cities are experiencing an expansion of airports, hotels, and highway. This trend is further testament to the dynamism and growth prospects of emerging markets.

Generating international sales is a difficult task for many small businesses around the world. However, there are a countless number of strategies and opportunities that allow businesses of all sizes to accomplish this challenging feat. In fact, one of the best ways to drive intentional sales for your business is to attend international trade shows where you can display your product to interested buyers. The video posted below by the United States Department of Commerce uses the Health Show in Dubai to explain the benefits of attending an international trade show!

Every year globalEDGE publishes its Market Potential Index (MPI) in order to assess a market’s attractiveness for international business. The Market Potential Index provides a detailed ranking of 26 emerging countries. With the MPI, determining which international market to enter is no longer an overwhelming task. Emerging markets are ranked based on several dimensions, allowing appropriate marketing strategies to be developed for each particular country. This year the MPI highlights several significant trends among emerging markets. We will now take a closer look at some of these trends in order to obtain a better idea of the importance of emerging markets in international business.

No matter where you are in the world, the sustainability of almost every economy depends on one critical idea. Young and highly educated workers must be able to fill the void created by an aging population leaving the workforce. In the competitive global economic landscape of today, even highly developed countries cannot afford to slide into downward educational trends. One can obtain great foresight into the future outlook of the global economy by simply comparing international education across industrialized economies. This analysis leads to the discovery of many surprising revelations about the future setting of the global economy.

Understanding the short-term and long-term economic fluctuations is important for businesses all around the world. The global economy influences all businesses regardless of their location. To better understand these trends within the global economy, there are numerous ways to expand your knowledge base. One of these ways is the 2013 Coface Country Risk Meeting taking place on Thursday, May 2nd in New York City. This conference includes a panel of economists and business leaders that will discuss the short-term economic outlook for 2013. During the conference, there was also be an in-depth analysis on today’s rapidly growing regions and the world’s economic power bases. To register for this year’s event or to obtain more details, please visit the 2013 Coface Country Risk Meeting registration site!

Starting a business is not an easy task. It’s one that takes hard work, dedication, and an entrepreneurial spirit that is willing to take on challenges. Despite the many challenges faced by entrepreneurs, starting a business has become easier in certain parts of the world as policymakers begin to recognize the importance of entrepreneurship. Entrepreneurial activities are extremely crucial for the economic well-being of almost every country. As the driving force of innovation and job creation, entrepreneurship has taken on a new level of significance in the global economy. However, certain countries lag behind others in terms of entrepreneurial activities. Differences in culture and business climate are the major factors affecting the level of entrepreneurship within a country.

When looking at the composition of the world over the past years, it is not hard to see that the world is becoming increasingly interconnected. If you look at a basic product, it is more than likely that the product you are looking at is made from components in various parts of the world. This increasing economic integration called globalization is having profound effects on many countries. Advances in transportation and telecommunications, including the rise of the Internet, are major factors contributing to globalization that have generated further economic interdependence and universal cultural activities. However, these are certainly not the only factors contributing to globalization. Today, I will show you how the entertainment industry has been a major driver of globalization.

Learning the business environment of other countries is an important task for those looking to export their products to new markets. Foreign countries provide vast opportunities for growth and allow companies of all sizes to reach new customers. However, each market filled with opportunities also presents challenges for businesses. There are many resources for small companies that make the transition into a foreign market much easier. Doug Barry recently sat down with Mike McGee, Senior U.S. Commercial Service Officer, to discuss the business environment of Burma (now known as Myanmar). To watch this interesting video on doing business in Burma, please see the posted video below!

The theory of a steady state economy and the end of economic growth as we know it has been discussed more frequently today as the world struggles to climb its way out of a recession. Whether or not this theory will become reality is up for debate. However, one specific aspect of this theory is certain. If economic growth continues to diminish and GDP growth rests motionless, the impact on international business will be profound. We will now look at some of the implications this reality would hold for international business, and we will also discuss possible solutions to the problems created by growth in our finite world.

Out of the millions of businesses in the United States, only about 1.5 percent of these companies sell their products internationally. Furthermore, over half of these businesses exported to only one foreign market. So what can be done to increase U.S. exports? Doug Barry of the U.S. Commercial Service has the answer. In his book, Exporters! The Wit and Wisdom of Small Business Owners Who Sell Globally, Doug Barry shares 26 success stories from small companies in the United States who made the leap of faith in selling their products abroad. These companies started from small beginnings and now make products for customers throughout the world.

Germany’s economy holds a critical significance in the European Union, especially in regards to the ongoing debt crisis. Its industrialized economy has held steady despite a slump in the global economy. It might be surprising to hear that Germany, one of the most industrialized countries in the world, is undertaking an energy revolution that will dramatically transform its economy’s energy sector. The newly re-engineered economy will no longer receive its energy from nuclear powered stations as all nuclear power plants in Germany are being closed down. Renewable energy sources, including wind and solar power, will instead fill Germany’s energy gap. Will this move jeopardize Germany’s economy and how does this energy revolution affect Germany’s relationship with other countries?

For years, Africa has been viewed as a continent stricken by poverty with practically no chance of achieving sustainable economic growth. Just over 12 years ago, The Economist even labeled Africa as “The Hopeless Continent” plagued by war and disease.  However, that paradigm is beginning to radically change. Over the past decade, Africa has been the second-fastest-growing region in the world with an annual growth rate of 5.1 percent. To the surprise of many, over 500 African companies have annual revenue of $100 million or more. How has Africa been able to turn around its fortune in such a short period of time? Many believe this economic turnaround can be attributed to greater political stability and reforms that have unleashed the private sector in many African countries. Though, the main source for this economic resurgence has actually been globalization as you will soon see.

It can be argued that there is nothing more universal in the world than music. Music has brought people and cultures together from the beginning of time. To many people and cultures, music is an important part of life—an art form that enhances life’s appeal. Today, music is not only an art but also an extremely important industry in the global economy. Just as globalization and technology have changed the course of many other industries in the world, these two factors have both dramatically transformed the music industry for better or for worse. Consumers, artists, retailers, record labels, and businesses have all been affected by these changes. Now the question is: “Has globalization created a sustainable shift in the music industry and how have these changes affected the art of music?”

After reading the globalEDGE blog series on Latin America, you should now have a good understanding of the various trends in Latin America that are affecting the international business world. We looked at many topics this week including Latin America’s growing middle class and the regulatory environment of the region. To help further your knowledge of Latin America, globalEDGE offers several resources specifically regarding the growing market of Latin America. We will now take a look at some of these useful Latin American resources!

In the modern business world, domestic markets are simply not enough for businesses striving to reach new customers and serve a growing world. Emerging markets and regions across the globe have provided businesses, small and large, the opportunity to expand their operations beyond domestic markets. Latin America happens to be one of these emerging regions and its growth prospects have caught the attention of businesses worldwide. This week the globalEDGE blog team will give you an in-depth outlook on Latin America and how the region is affecting international business.

With an increasingly interconnected world and growing international marketplace, many companies are searching for opportunities at a global level. Businesses are looking to expand overseas for many reasons—stagnant economies at home, desired growth in their customer base, or even the pursuit for higher profit margins. Whatever the case may be, these businesses are becoming very important for the global economy. Surprisingly enough, not all of these businesses are large multinational firms. In fact, there is a recent trend where small businesses are beginning to follow larger companies in expanding their business operations into foreign markets.

Alongside China’s growing assertiveness in foreign policy, businesses in China are also being more aggressive in their international business practices. Chinese businesses are increasingly using international acquisitions to expand their presence overseas in various countries such as Canada and the United States. Chinese firms have already acquired an American manufacturer of high-tech batteries and a major aircraft leasing business this past month. Overseas acquisitions by Chinese companies are expected to continue to increase as firms pursue companies in Canada including Nexen, a major Canadian energy company. Chinese acquisitions are changing the landscape of international business and may also be an indicator of China’s goal to be the world’s strongest economy.

The year of 2012 has been a great and exciting year for globalEDGE! To wrap up the year, the gE blog team will highlight some of the many exciting international business features globalEDGE has to offer. Throughout, this week there will be a blog post each day regarding globalEDGE. By keeping up with our blog series this week, you will learn about our new Regulatory Agencies section, the globalEDGE LinkedIn network, and our updated online course modules. We will begin this week by talking about the recently released Country Comparator Tool!

Agriculture has been an essential industry for nearly all major economies in the world. These countries use agriculture to drive international trade and create jobs. In the United States, agriculture is one of the most export dependent sectors of the economy with one-third of US agricultural production exported annually. Developing countries have realized the importance of creating economic growth through agricultural production and exports. With an increasing global population, agriculture has provided emerging economies opportunities for growth and integration into the global economic picture.

In today’s interconnected and globalized world, receiving investments from abroad is a major factor contributing to economic growth for countries all across the world. Spain has recognized the importance of international business and foreign investment by implementing strategies to change the flow of investment. In the late 1990s, many Spanish companies began investing in Latin America and also started a vast amount of business operations there. Now, Spain is looking for investments to flow in the complete opposite direction.

In a global economy marked by unemployment, it might be surprising to hear that one industry is actually booming with career opportunities. That industry happens to be Big Data and business analytics. By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills. According to a McKinsey Global Institute report, the big data industry will also need over 1.5 million people in the next few years capable of analyzing data that enable business decisions. Global companies have begun the search for employees with complex skillsets and the ability to analyze large amounts of data. As you can see, big data is becoming ever so important for international business.

International trade is a very important aspect of the world’s economy in the globalized business climate of today. Less than one percent of all United States businesses export and according to research, the main reason for not exporting is the lack of confidence in selecting the best market for U.S. products. To help solve this issue, the U.S. International Trade Administration has published a book titled Free Trade Agreements: 20 Ways to Grow Your Business available for download on iTunes.

Just as products and companies have brand images associated with them, countries also have built perceptions in the minds of people around the world. A country’s “brand name” can be based on a variety of rankings and its overall perception in the minds of businesses definitely has an impact on its success. If a country’s brand perception is favorable, that can translate into foreign investments alongside commercial and economic development. Businesses are also more likely to conduct operations in a country with a positive brand image. To help us identify the top country brands in today’s globalized economy, FutureBrand has released the Country Brand Index. The results are very interesting and the country at the top of the list might just surprise you.

Deemed export compliance can sometimes be a confusing subject matter. However to help you better understand exporting, Amber Road has a free webinar discussing export compliance from a university perspective. The webinar will address many topics including how to use technology to automate the export compliance process and will feature guest presentations. This free webinar takes place on Tuesday, October 23, 2012 from 2:00 PM to 3:00 PM EDT. To find out more information and to register for this online webinar event, please click here!

As globalization affects international business in almost every way possible, it also affects education to great extents. International education is on the rise as the demands of a globalized world bring the need for students to understand broader issues around the world. Students, the future business leaders of tomorrow, have become more mobile than ever in search for global experiences and job opportunities overseas. In past years, many students moved abroad to study in developed economies such as the United States and United Kingdom. However, that trend is starting to shift as many people believe the booming economies in the East offer more job opportunities than the West.

In 2010, countries around the world engaged in a race to the bottom to devalue their currencies in hopes to boost exports and thus foster economic growth. Now in 2012, fears of another currency war have arisen again after the Federal Reserve announced the third round of quantitative easing which has caused many to believe that the U.S. dollar will weaken. It’s still unknown if central banks in other countries will respond by keeping the value of their currency low relative to the dollar. The main goal of weakening a currency’s value is to increase exports by making goods cheaper in relation to other countries. So what exactly does this mean for international business?

Economic growth is a desire held by many nations around the world. But before a country achieves this goal, it must have the proper infrastructure in place to foster economic growth. The country of Bangladesh is a great example of this thought. Can you imagine having to wait three or more hours to cross a river? This is exactly what people in Bangladesh must do each day in order to enter the under-developed southern region of the country. The river separating the country is called the Ganges, known locally as the river Padma. Having a bridge over the Padma river has been a dream of Bangladeshis for decades and that dream may finally become reality.

In a more connected and globalized world, brand recognition across many markets and countries has become extremely important for international business. When a company’s goods or services are not only well-known but popular in many countries all around the world, you know that particular company is doing something right. Global branding is a major aspect of marketing in today’s business environment and is constantly changing as the world moves forward. Not only is global branding evolving, it is changing the way businesses market their products across the globe. This week the globalEDGE blog team will take a deeper look at global branding and its impact on international business operations.

The problem of copying and product imitation has pervaded businesses from practically the beginning of time. The age-old debate about the nature of innovation has significant importance in the world of business. Patents were originally designed to help companies protect their intellectual property from competitors to ensure that innovation was rewarded not stolen. However, many have argued that products are never completely original and all creativity comes from some other idea. Albert Einstein said it best himself with the famous quote, “The secret to creativity is knowing how to hide your sources.” So what does this patent and creativity debate mean for businesses, and perhaps more importantly for global competitiveness?

This week the World Economic Forum released the 2012-2013 edition of the Global Competitiveness Report. The report measures the business operating environment and competitiveness of over 140 countries worldwide. It also acts as a benchmarking tool for the public and private sectors by identifying the many advantages and obstacles economies face on their way to national growth. As the balance of economic activity shifts away from advanced economies toward emerging markets, many countries are trying to push their economies forward despite the increasingly complex global landscape. This year’s report shows interesting results as some countries were able to accomplish this feat more so than others.

In this age of globalization and economic integration, international companies face many complex issues. One of these issues has arisen rather quickly this past decade and will affect many businesses in the years to come. Companies around the world now face the problem of a global shift in the supply and demand of talent. Due to an aging population, global employers face the challenge of recruiting from a shrinking workforce. More specifically, as the skills employers require become more complex, labor shortages are probable in many mature markets such as the United States, Italy, Canada, and Germany. Already, an estimated 31% of employers worldwide find it difficult to fill positions because of talent shortages in their markets. So what does this mean for the future of business?

The 2012 Summer Olympics will undoubtedly have a major impact on the British Economy. Prime Minister David Cameron has already stated that the Olympic Games will give Britain a 13 billion pound economic boost. With the 2012 Olympics in London shaping up to be the most expensive games in history, much is expected from the Olympics in terms of economic growth for the United Kingdom. However with all this talk about its impact on Britain, the Summer Olympics may have an even greater impact on the global business world.

As the human population grows and environmental complexities become more widespread, social responsibility and the fight against climate change have become major issues for businesses across the globe. Many companies are beginning to implement sustainable business practices to combat climate change and mitigate harmful emissions. You may be wondering what businesses around the world are at the top of the list in developing environmentally friendly business operations. Look no further, because a United Kingdom research company has just released rankings that track how large global companies are mitigating climate change and creating clean technology solutions.

Despite stories of economic struggles scattered around Europe, there is some bright news from the United Kingdom. According to financial data, the United Kingdom maintained its 16-month recovery in the construction sector. Strong orders for new building projects and a rise in employment in April have helped sustain construction recovery as well as economic growth. The main demand for this boost of construction output has come from commercial building and civil engineering during the spring months and is expected to be carried forward into the summer. Another major cause of this growth is probably not a surprise to anyone—the 2012 Summer Olympics.

To compete in the global economy, a country’s workforce must be knowledgeable, well-trained, and understand the complexities as well as the benefits created by globalization. It’s true that accomplishing these objectives is easier said than done but in our hands lies a great tool to assist us with these goals—and this great tool is simply education. Just as globalization has changed business around the world, it is also changing education. A common trend in higher education policy is the internationalization of education to help students live, work, and be successful in today’s interconnected global economy.

Ten years have passed since the end of Angola’s civil war and the country has made enormous strides in rebuilding its once struggling economy. This year Angola’s economy is expected grow by eight percent as it becomes the second biggest producer of oil in Africa. One of the main effects of this rapid economic growth is the boom in infrastructure development. In the capital city of Luanda, the skyline is now filled with newly-built skyscrapers and each month more businesses are beginning to populate the area. Economic growth is beginning to transform Angola into a country filled with business opportunities, but how does Angola expect to sustain this economic growth in the years to come?

Around the world many small businesses are beginning to take advantage of global opportunities by exporting their products abroad and finding new markets in different countries. With many opportunities to find business partners overseas, finding the right path to take may prove to be a difficult task. However in the United States, there are many government export promotion programs that assist small to medium sized firms succeed and find the right opportunities in these new markets. One program in particular is the International Trade Administration. Doug Barry of the Trade Information Center and the U.S. Commercial Service recently sat down with a technology company from Maryland to discuss the benefits it gained from using export assistance programs.

With 196 countries across the globe and over 7 billion people in the world, differences in culture can be seen almost anywhere. In an increasingly interconnected world, people with different cultures can be found in a country nearby or even in your hometown. As a business person, student, or global citizen what does this mean for you? It simply means that understanding different cultures is becoming incredibly important in our daily lives and for business success on a global and even local level. Understanding cultural differences provides a unique competitive advantage and allows teamwork to thrive in almost any situation regardless of where you might be in the world or who you are working with. This is critical for proper communication and is especially crucial for international business.

In economies that are slightly behind their modern industrial counterparts, entrepreneurship is often viewed as an important component in stimulating economic growth, innovation, competitiveness, and even alleviating poverty for these countries. However, before that is accomplished, there are several unique features that affect entrepreneurship in developing countries. While some of the distinct aspects of developing countries inhibit entrepreneurship, others enable entrepreneurial activities and allow start-up businesses to be successful despite great odds.

As the world population continues to grow and urbanization increases, enormous amounts of energy will be consumed meaning expensive energy costs and waste management will remain major problems. Sustainable development is a solution to this problem. However, one particular region is experiencing urban population growth at an unprecedented rate and faces exceptional challenges in terms of sustainability. This region is Asia and its urban area population has already tripled over the last fifty years. Although Asia faces many tough challenges to sustainable development, these challenges also provide opportunities for global businesses.

As technology and communication capabilities increase, it may be safe to assume that the world is becoming more connected with many countries becoming integrated to the world economy. This basic idea is called globalization and with globalization comes many benefits such as new opportunities in emerging markets and increased access to international trade. To many people, globalization is making the world flat meaning businesses can collaborate and operate across borders without regard to geography or distance in today’s modern technological and political landscape. Many businesses are beginning to realize the opportunities abroad made possible by an increasingly connected world. However, is there a way to measure how connected the world really is?

Over the years, clean energy sources have become extremely popular as countries and governments around the world try to mitigate climate change by reducing carbon emissions. One of these clean energy sources is solar power which converts sunlight directly into electricity. Solar power has been used as a major energy source for many applications such as providing electricity for residential homes and industrial equipment. Recently, solar power has been applied to many new projects. One of which is shipping and if successful, solar powered shipping can have large impacts on the environment as well as international trade.

With many companies spending years building a brand and strong image among its customers, few would imagine this task can completed in a relatively short period of time. However, this is exactly what’s possible with social media. In the past years, businesses have increased their use of social media platforms to market products, build a dominant brand image, and interact with their customers. It has come to a point where businesses around the world are focusing less on endorsing their products in advertisements and more on promoting their Facebook page or Twitter account. Now the question is: How does the expanding social presence of companies impact business performance worldwide?

In today’s technology driven society, web browsers are very important as people spend many hours using the internet for business needs or gathering information from sources around the world. A few weeks ago, Google Chrome became the most popular web browser worldwide for a single day, edging out the long-standing dominance of Internet Explorer. Claiming the top spot for only one day may not seem like a noteworthy event, but how Google Chrome was able to take the lead is very important in terms of international business.

When globalEDGE released its Market Potential Index (MPI) for 2011, it’s no surprise that Asian countries dominated the top of the rankings. For several years now, countries in Asia have been considered the leading emerging markets in today’s economic climate. This year, Singapore found itself as the highest rated emerging market in the MPI rankings. Looking at Singapore, there are several factors that contributed to its success in this year’s rankings.

Over the past years, free trade agreements have proven to be one of the most effective ways to open up foreign markets for businesses looking to export overseas. Trade agreements help reduce barriers for these businesses and eliminate costly tariffs on imports. The creation of more transparent trading promoted by free trade agreements also contributes to an easier environment for the exporting of goods and services. This past week, the United States-Korea Free Trade Agreement entered into full force, creating many opportunities for increased trade between the two countries.

As globalization increases, small businesses are gaining many opportunities to export their products overseas. However, less than two percent of all United States companies export to foreign markets. With the National Export Initiative, the United States plans to turn this surprising fact around and double U.S. exports within the upcoming years. Small businesses can play a crucial role in helping the United States accomplish its exporting goals. In fact, some small businesses in the United States have already found success in markets abroad.

With concerns of a changing global climate, many countries around the world are looking for efficient energy sources designed to lower carbon emissions and combat global warming. One well-known energy project is harnessing the power of the wind with turbines to produce electricity. While many wind farms are built on land, offshore wind turbines are expected to grow rapidly as these climates are filled with constant driving winds. These offshore wind turbines hold great potential for the future of energy and new technology is changing the way wind farms operate.

With growing food and energy prices worldwide, it may be surprising to hear that some consumers are willing to pay more for certain food products. This is the case in the United Kingdom where sales of fairly traded products have beaten the trend of decline in the retail market and have grown by 12 percent this past year. Fairtrade products have higher prices than normal food products but in return consumers feel socially responsible as Fairtrade goods are marked with higher environmental standards. Perhaps more importantly, these fairly traded food products ensure that producers in developing countries are paid properly for their hard work while also promoting better trading conditions between global businesses.

The Democratic Republic of Congo has faced years of harsh wars leaving the country deeply stricken by poverty, but now the country moves forward and has its eyes on recovery. A large scale plan to build a hydropower dam capable of producing enough electricity for the entire country has kept hopes high in Congo. If constructed the Inga Three dam in Congo would be Africa’s largest hydropower dam and would produce twice as much electricity as the major Three Gorges dam in China. The country’s multitude of rivers offer enormous potential for hydropower but Congo faces many difficulties if it wants to accomplish its energy goals.

Across the world, there are a wide variety of resources needed to successfully operate a business. Many people may be quick to name equipment, technology, wealth, and labor as key resources. However, a resource that is often overlooked is land. Land along with buildings located on the property make up real estate. The global real estate market holds great importance for businesses and people around the world involved in the buying and selling of property. This week the globalEDGE blog team will explore several aspects of the global real estate market including private real estate and green construction. This post will take a look inside the international housing market and the market characteristics of several different countries.

Many small businesses are achieving success by selling to customers within their domestic borders. While this is a solid strategy, opportunities exist around the world that will allow further business growth. These opportunities lie within expanding business into new markets abroad. Going global may seem difficult at first but for many small businesses it provides a proven growth strategy. Doug Barry of the United States Commercial Service states that profit margins for international sales tend to be higher and he also offers several tips for entering international markets. We will now take a look at these suggestions and see how easy international business can really be!

All around the world technology remains a key component of business success and innovation. Places like India, China, and the United States are well known for their innovation and technological development. However, Latin America happens to be one of the fastest-growing technology markets in the world. With Brazil being one of the largest economies in Latin America, many people may assume Brazil is leading the way in technology. Yet, this is not the case. This past year Panama replaced Uruguay as Latin America’s technology leader.

While many countries depend on each other for the trade of goods and services, few would think countries could depend on each other for one of the most important resources on Earth—energy. A proposed electricity supergrid spanning across several European countries could mean not only improved power sources but also cleaner energy. Advocates of this energy plan suggest that a transnational supergrid could connect power sources like wind farms in Scotland and solar arrays in Spain to the many population centers scattered throughout Europe. The need for an expanded and upgraded power network in Europe is clear. However, the political, regulatory, and economic obstacles are formidable and will be tough to overcome.

With the National Export Initiative, the United States is seeking to double exports by the end of 2014. However, the typical United States manufacturing exporter sells to less than five buyers in overseas markets. Many people may assume that the responsibility of meeting the ambitious export goal lies in the hands of large businesses and corporations in America. While partially true, there are other businesses in the United States that are already stepping up to the challenge. These businesses are the small businesses all over the country that are being driven by entrepreneurship, creativity, and hard work.

While cities and industries around the world have been displaying a great deal of resilience in tough economic times, small businesses also have the opportunity to accomplish this. Almost every day businesses overcome a variety of obstacles and setbacks in order to operate successfully. In fact, in a globalized world, small businesses may have greater access to foreign markets and the latest technology but that also means these businesses are connected to potential disruptions in the global economy. These small businesses also have the problem of facing increased competition from larger businesses. However, just as countries or industries can bounce back from economic hardships and natural setbacks, small businesses can do the same.

This past year the United States passed free trade agreements with Colombia and Panama. Both these countries represent key markets in Central and South America. In fact, Colombia is the third largest economy in South America while Panama is a major maritime and air transportation hub. There are many potential opportunities for international businesses in these countries. To find out more information on the business climate, market opportunities, and finance in both Colombia and Panama, there will be a webinar hosted in February by the U.S. Commercial Service. The webinar requires a paid registration and also provides details about the benefits of the United States free trade agreements with Colombia and Panama.

The European Union has been one of the most devoted players in the attempts to combat global climate change and reduce carbon emissions. The long-term energy plans proposed by the European Union depend largely on high technology projects designed to capture carbon dioxide emissions and store them underground. This would help abate global warming while also allowing industries to continue to burn large amounts of fossil fuels. However, weak support for the experimental carbon capturing technology has held the European Union back from reaching its energy goals.

With large amounts of minerals and natural resources, the South American country of Brazil has received large amounts of attention as it economy continues to expand at a rather rapid pace. In 2010, the Brazil economy grew by a large 7.5 percent and has been named one of the key “BRIC” economies of the world along with Russia, India, and China. Brazil’s economic growth has far outpaced the United States and has also positioned Brazil as the world’s sixth-largest economy, just passing the United Kingdom’s economy this last year.

With many concerns and debates regarding climate change, countries around the world are looking for ways to reduce carbon emissions. These carbon emissions happen to be the leading cause of climate change and large coal-burning industries are mostly responsible. One way to reduce these harmful emissions involves a new technology that captures carbon dioxide from the air and pumps it directly underground for permanent storage. This project was operated in Germany, Scotland, and the United States with little success. However, the two largest consumers of carbon dioxide, China and the United States, are investigating a new way to reduce carbon output and are looking toward a surprising industry for this solution.

In the business world, sports may be best recognized for the many benefits they offer to individual businesses such as sponsorships, brand building, venues for advertisement, and marketing opportunities. However, sports also have major impacts on economies all around the world. It’s no surprise that international sporting events like the World Cup and the Olympics greatly affect the economies of host countries. These economic effects can be positive or negative and can have implications not only on a regional level but a global level as well.

While many countries look to drive their economies by increasing trade and consumer spending, South Korea is looking in another direction. Renewable energy sources and projects are being used to boost business and promote economic growth in South Korea. The term “Green Growth” has been coined by the country and has become a major national strategy. This strategy has given rise to a vast range of policies regarding waste-management and air-quality control. However, South Korea’s main focus lies within renewable energy technologies with the mission not only to lower greenhouse gas emissions but to also boost the economy.

The United States-Colombia free trade agreement approved just a few months ago has helped business growth in Colombia and is expected to continue to help boost Colombia’s economy. The main benefit from the free trade agreement is often seen as attractive conditions for increased exports and imports. However, some companies in Colombia see the main benefit coming from the growth of demand that the free trade agreement will likely generate. Besides these major benefits, there are also many other positives for business in Colombia derived from the newly passed free trade agreement.

With the 2014 World Cup and the 2016 Summer Olympics both being held in Brazil, this large South American country is preparing for a major tourism boost to further advance its economy. Currently, Brazil’s tourism industry is not featured in the global top ten with only five million overseas visitors this past year. There are numerous reasons why Brazil remains a relatively untapped tourist destination but perhaps one of the biggest reasons is the perception of high crime levels. However, with the two major international events around the corner Brazil is looking correct to this problem in order to double the number of people visiting the country and expand its tourism industry.

With Turkey’s location serving as a natural bridge between Asia and Europe, it’s no surprise that Turkey plays an important role in international trade. In fact, this is one of the key reasons why Turkey’s emerging economy is having major impacts on the region and international business. However, this is not the only reason why Turkey is becoming a regional power in today’s business world. The emergence of Turkey has been a positive development for a number of reasons and Turkey is looking to capitalize on this success by striving for continued economic growth.

With increased globalization, small businesses led by entrepreneurs can play an important role in global growth. In today’s world of interconnected markets and easy technological access, entrepreneurs have increased opportunities to expand their business abroad. Many entrepreneurs around the world have already expanded their small business overseas providing economic success and new jobs for many. In light of Global Entrepreneurship Week, we will take a look at one of these global start-up stories where a small business driven by an entrepreneurial spirit found success in markets abroad.

While many governments are trying to help unemployed workers find jobs in the domestic marketplace, the government of Bangladesh is implementing systems to make it easier for their citizens to seek employment abroad in countries overseas. This offers many advantages for the economy and also provides opportunities for the people of Bangladesh. Workers from Bangladesh living abroad earn large amounts of foreign currency for the country. By helping citizens in Bangladesh find work overseas, the government hopes it will also provide more opportunities for young citizens of Bangladesh struggling to find employment at home. To do this, the government has simplified the process for citizens working abroad using business technology.

When looking at Latin America, Brazil is usually looked upon as the top country of the region with the strongest emerging economy. However, the country of Chile is leading in another aspect of business. According to the 2011 Latin Business Index, Chile remains the country with the best business environment in Latin America. The index studied 18 countries in Latin America and broadly measured the climate for business in each country with Chile coming in at the top of the list. Five major categories were the focus of the study including the macro environment, corporate environment, globalization, infrastructure levels, and the political environment. There were many business factors in Chile that accounted for its success in each of these categories.

With the United States setting a goal to double exports in the next four years, small businesses play a very important role in accomplishing this mission. The National Export Initiative, the official title of this export growth objective, has a website designed to help small businesses export products to new markets and attain business growth abroad. Doug Barry of the U.S. Department of Commerce is an expert in exporting strategy for small businesses and has helped many small businesses accomplish their exporting goals. Last week, we posted a blog about an interview with Doug Barry where he explains how a small bio-business used international markets to achieve remarkable levels of business growth. This week, Doug Barry has conducted additional interviews where he shares his small business expertise and knowledge.

While social media sites are becoming increasingly popular worldwide, there is one region in particular where social media has nearly unlimited growth potential. That region is the Middle East and although there has been much concern surrounding the use of social networks for protest demonstrations, social media sites provide great opportunities for businesses of the region. In the Middle East the number of social media users has already doubled in the past year. Now, the question is whether businesses of the region will take advantage of social networks and use them as a brand building tool.

The Dominican Republic is usually known as the country leading the tourism industry of Latin America. However, that’s not necessarily the entire picture as the Dominican Republic is increasingly boosting its other sectors such as mining, finance, telecommunications, and infrastructure. Foreign direct investment flowing into the country allows this growth to be sustainable and continue into the future. There are many business factors that provided the foundation for the Dominican Republic’s growth in these various sectors.

Online shopping is being used in many countries around the world and its use is becoming more widespread each year. In emerging countries such as India, the e-commerce market is growing rapidly with over three thousand e-commerce centers found online. Recently, businesses in South Korea have taken online shopping to the next level by allowing people to shop in virtual supermarkets with their smartphone.

Here at Michigan State University, agricultural business has played a very important role in the history and development of the university. In 1855, Michigan’s governor signed a bill establishing the nation’s first agriculture college, the Agricultural College of the State of Michigan. The nation’s pioneer land-grant university later became known as Michigan State University. Created by the International Business Center at Michigan State University, globalEDGE has noted the importance of agriculture in our university’s foundation and the significant role agriculture plays in the international business world. For these reasons, globalEDGE provides many resources pertaining to agribusiness which can help you recognize the major international business trends in the agriculture industry.

This past week, the United States passed a trio of free trade agreements removing trade barriers with the countries of Panama, South Korea, and Colombia. The free trade agreements will have many impacts on international trade tendencies between these countries as the pacts will essentially eliminate tariffs faced by exporters in all four countries. Exports of each country are expected to rise as a result of the agreements and many businesses small or large will be able to compete in new markets abroad. The trade relationships between each country will dramatically change as the new trade agreements mark the biggest opportunity for exporting businesses in decades.

While most economies in the European Union are slowing down, Estonia is going in the complete opposite direction. Estonia currently has the fastest economic growth rate in the European Union with a solid eight percent growth rate in the first quarter of 2011. Joining the European Union in 2004, Estonia has come a long way to establish itself as a prominent economic force in Europe. The country experienced some hindrances along the way but has overcome these obstacles while continuing to grow economically. There are many reasons and key business factors that account for this positive growth rate in Estonia.

If you are a small business counselor looking to improve your skills as an export and trade advisor, online training certification may be of interest to you. The Export and Trade Counseling Certification Training webpage is a great resource to achieve this goal and is provided by the U.S. Commercial Service of the Department of Commerce. This page offers small business counselors the opportunity to receive certification after viewing several webinars on exporting information and guides.

Last week globalEDGE experienced some technical issues causing a few blog posts to be deleted from the site. To correct this problem, we will be re-posting three deleted blog posts today from last week. We are sorry for any inconveniences this may have caused and we look forward to getting the blog going again. We are also open to hear some ideas from you, our readers, on international business topics you would like us to cover. Feel free to leave a comment on the blog suggesting future blog topics or you can also comment on various blog posts throughout the week that you find interesting.

Mining for gold has traditionally been viewed as a toxic business that harms the environment leaving mercury and other harsh chemicals in the atmosphere. However, this view is beginning to change as gold mining practices turn to fair trade. The new fair trade standards set social, environmental, and economic measures to eliminate child labor and minimize the use of toxic chemicals such as mercury and cyanide. The major goal of this movement is to avoid the negative impacts that mining causes in the environment while also aiming to help the millions of people who depend on the gold mining industry for employment.

The year of 2011 has been a busy yet very exciting year for globalEDGE. Over the past year, the globalEDGE team has embarked on a mission to redesign the entire globalEDGE site in order to increase its usefulness and interactivity as a leading international business resource. We are thrilled and happy to announce that the new globalEDGE site has been released and this week the blog team will help you get familiar with the various updates and new sections of globalEDGE. Blog posts will cover many features of the new site including our new export tutorial section, the greater focus on social media, and the enhanced interactivity of globalEDGE. Today, we will look at the brand new section devoted to providing information about the world’s major trade blocs and trade agreements.

While cloud computing provides benefits to many technical areas of business, cloud storage technology is also being used for forecasting methods in the agriculture industry. In a time when water sources are being depleted faster than they can be renewed, farmers need to find processes designed to conserve valuable water supplies. Cloud computing technology has allowed them to do just this.

Now that you know more about the basics of cloud computing, we can begin to take a look at some of the risks and benefits businesses encounter when using the cloud. As cloud based applications grow, businesses have numerous opportunities to take advantage of this new technology. With smartphones, tablets, and personal computers, businesses can easily access their cloud storage data from virtually anywhere. The benefits might seem undeniable at first—decreased data storage costs and integration across all areas of a business. However, some may wonder whether the benefits of cloud computing outweigh the risks.

Currently, the global water supply is in a problematic state as Earth’s fresh water supply is being used up without having the chance to be recharged. As the population grows rapidly, more and more water is needed to produce the food that feeds this growing population. Agricultural crops and animals are not the only products requiring water. Industrial productions of almost all goods require water as a resource. In fact, water is a key material for almost any business application in the world today. On top of this, water is also being polluted and wasted which contributes greatly to the decline of the fresh water supply. Despite this bad news, businesses are helping turn this situation around by establishing an effort to save the water supply.

Since the Industrial Revolution coal has been one of the most important energy commodities for countries and industries across the world. However, this is beginning to change as many businesses search for cleaner energy sources. With new drilling techniques, lower prices, and a large domestic supply in the United States, natural gas is becoming a very popular energy commodity. This energy switch from coal to natural gas is often viewed as beneficial for the environment but there has been some doubt regarding this belief.

With the goal of becoming a developed nation by 2020, Malaysia has some work ahead but recent predictions by Malaysia’s central bank show that this developing country is definitely on the right track. A predicted economic growth rate between five and six percent puts Malaysia in a much better position than other South East Asia economies in today’s global climate. Over the last decade Malaysia has faced tough competition in exports and production from low wage countries such as China. Now, Malaysia is looking forward to a knowledge-based economy lush with opportunities and potential.

Nowadays many companies are becoming more environmentally conscious and are looking for new business practices that support sustainability. A company called Neutral Fuels in the United Arab Emirates has developed an innovating process that promotes sustainable development while also generating a healthy profit. Neutral Fuels converts used vegetable and cooking oil from local fast food restaurants to biodiesel so that it can be used to fuel trucks. This waste conversion process has had a tremendous impact on the environment and oil production in the United Arab Emirates.

Products by large companies such as Samsung and Hyundai are crucial to keeping South Korea’s economy afloat however the country’s small and medium-sized businesses may be even more important. These smaller businesses provide more than 80 percent of the country’s jobs but are beginning to feel the pressure from Korea’s big conglomerates. The number of smaller firms competing in various sectors has been reduced to just a handful because of the difficulties of earning a profit in the face of big company demands. This is not the only concern for small-businesses in South Korea.

Feeding on the strength of European demand and Asian emerging markets, China’s trade surplus rose to its highest level in more than two years during the month of July. The country’s surplus rose to $31.5 billion, the biggest gap since January of 2009. Chinese exports and imports both grew over 20 percent from a year ago and there are a couple key reasons that account for these large increases.

Growth in shipments to Europe has doubled over the last two months granting China higher export numbers. Exports to Japan also rose as Japan surges back after the tragic earthquake that occurred earlier in the year. China’s relationship with developing countries in Asia, such as Vietnam and Indonesia, continues to strengthen providing China with lucrative export markets. Sales of Chinese goods in these markets have increased this past year allowing the trade surplus gap to grow even larger.

With millions of people using the Internet each day, the World Wide Web has been a very important place for companies looking to market their products. Online advertising has followed a fairly standard path as Internet uses evolved over the years. Marketers first bought digital ads and then went even further by building their own Web sites to promote their products. These marketing tools are still being used but a new factor is beginning to change the way companies advertise online. That factor is social media.

When looking at economic indicators in Uruguay, government officials and businessmen have much to cheer about. In 2010, the economy grew by 8.5 percent giving Uruguay the fourth-highest increase in Latin America. This growth is predicted to continue as officials estimate a growth rate of 5 to 6 percent this year. Some predict the GDP growth rate to be even higher as both domestic and external demand continues to climb at a very healthy pace. There are many reasons that account for the positive growth rate of Uruguay.

Technological innovation has helped countries grow and has aided businesses in generating profits for many years. However, in India recently, technology has even found a way to help feed India’s poorest. In the country of India, those living below the poverty line are allowed to buy basic food such as rice, sugar, and wheat at highly subsidized rates at government-run Fair Price shops. The shoppers at these stores have a plastic card with their photograph on the face of the card. After purchasing food, shoppers scan their smart cards and then the shop owner asks for something else—their fingerprints.

With costs rising for many businesses, companies are looking for ways to save money and lower costs. Outsourcing may be the best way to do just this. The Philippines has recently become an important destination for international companies wanting to outsource their call centers. For many years, India has been a top choice country for outsourcing but the tides are beginning to change. With high number of fluent English speakers coupled with clear and neutral accents, the Philippines has attracted many companies that are looking to outsource their call centers.

The rainforest of Borneo in the growing country of Malaysia is said to be the oldest rainforest on the planet, 70 million years older than the Amazon. Hundreds of species of plants and animals inhabit the forest of Borneo with many new species still being discovered each year. Borneo, with its dense forest and uncountable number of unique species, is one of the world’s greatest natural treasures. Malaysia, determined to develop its growing economy, has difficult choices to make about how to ensure the safety of its natural resources.

Most people think of China or Japan as the most prominent auto manufactures in Asia. That has certainly been the case for the past years but now the country of India is becoming a major manufacturing hub for the continent. Nissan’s Indian factory is less than a year old and covers 600 acres making it one of the company’s largest plants worldwide. Nissan is just one of the many major Asian auto companies that have set up manufacturing hubs in India.

Three months after Japan’s largest earthquake, a major nuclear reactor disaster seems to have been avoided. However, major doubts surrounding nuclear energy as a safe power source remain in countries around the world. If these doubts linger, the energy industry can be changed dramatically with this significant loss of faith in nuclear energy. Alternative energy sources must be able to replace nuclear energy and many countries will have to develop efficient and sustainable infrastructures to support this energy change.

After a strong recovery last year, local and foreign investors are optimistic about growth and investment opportunities in Mexico. The strong recovery in 2010 was fueled by the increase of exports and tourism as well as growth in the mining industry. These factors helped produce an economic growth of 5.5 percent. This was the best result Mexico has experienced over the past decade. Mexico looks to continue this economic growth trend and the good news is 2011 seems to be shaping up just as well.

With its close proximity to Canada and Mexico, most United States exporters export to only one market and unsurprisingly this market is usually Canada. However, many smaller companies that work with the U.S. Commercial Service have found other great markets filled many new customers. Some of the best markets with countless opportunities for U.S. companies are Vietnam, India, Indonesia, India, China, Taiwan and Thailand. You can learn more about these markets by watching these videos on India, Indonesia, and Vietnam posted on the Export.gov website. With these videos, you will learn about some of the many sectors in these markets where U.S. companies are competitive. In the videos, you will also be introduced to the top U.S. commercial diplomats in these markets who will help your company evaluate and enter exciting new markets.

Most African economies are known for their valuable commodities like oil, copper, and gas. But as of late, countries in Africa are adding a new focus to their economies with technology innovation. Countries throughout the continent have acknowledged technology as a key component in the battle to boost prosperity. This has sparked a technology revolution in a continent with high ambitions.

It’s hard to believe two and a half years after a global financial crisis that economies around the world can recover to pre-crisis levels. However, that is exactly where the economies of Central European countries find themselves. Countries in Central Europe have shown remarkable resilience to recover at a rather quick pace. Estonia and Slovakia are swiftly moving ahead with estimated growth rates of nearly 4 percent this year. But perhaps the most important piece in Central Europe’s recovery lies in the country of Poland.

When people think of online shopping today, paying for goods or services via the internet usually comes to mind. However, in Russia this is not the case. More than 80 percent of transactions at Russian online megastores are in cash. Russian customers are not very comfortable with online transactions so businesses in Russia have developed alternatives for the online shopping model.

A massive project to renovate the Democratic Republic of Congo’s broken-down railway network has been launched in the capital city of Kinshasa. Most of the rail track in Congo was laid more than 100 years ago, so repairs and improvements are huge necessities. Costing a total of $600 million, this project is being backed by China and the World Bank with an estimated completion time of four years. The major goal for the revamped rail system is to restore services to provinces where rail is the only connection to the rest of the world in the absence of roadway and river transportation. This project has huge implications for businesses and bordering countries looking to trade with the Democratic Republic of Congo.

In 2007, former president Oscar Arias announced Costa Rica’s goal to become the first developing country to go carbon-neutral in 14 years. At the time, that goal seemed to be very unlikely for such a small country with financial difficulties. However, over the past years Costa Rica has made significant strides in accomplishing their energy goal and has become one of the leading countries in environmental sustainability.

Recently gold prices have been up, but another metal connects countries around the world and provides insight into future economic and global trends. This metal happens to be copper and unlike gold, copper is not often viewed as a glamorous commodity. However, its practical use in water pipes, electrical wiring, computer circuit boards, and other electronic gadgets makes copper a valuable resource. Today the world’s copper mines are booming as copper prices continue to rise dramatically.

Over a quarter million small businesses in the United States export their products and services to other countries around the world. By doing so these businesses increase their revenues, broaden and diversify their customer base, and provide jobs for their local communities. The United States has set a goal to double exports by 2014 in order to support the addition of two million jobs for the American workforce and encourage economic growth. To reach this goal and help small businesses further increase their exports, the Office of the U.S. Trade Representative, the Department of Commerce, and the Small Business Administration have released a new Free Trade Agreement (FTA) Tariff Tool.

Today, many people buy produce at a local grocery store but newly designed agriculture programs are looking to change this typical consumer trend. Members of community-supported agriculture programs, known as C.S.A’s, have their fruits and vegetables delivered directly to their homes or neighborhoods. This direct grower-to-consumer relationship has had success on a local scale and now the program will test itself by entering the global marketplace.

As Colombia’s energy sector expands and major infrastructure projects continue to develop, vast opportunities will be made available in Colombia for exporters across the globe. The United States has been Colombia’s top trading partner for the last couple of years but competition is increasing as other countries aggressively pursue trade opportunities in Colombia’s active and growing market.

In 2009, China became Brazil’s largest trading partner in the world, overtaking the position that the United States has held since 1930. Brazilian exports are increasing rapidly to meet China’s immense demand for raw materials and commodities. On the other side of this trade relationship, cheaper goods imported from China are opening new horizons for Brazil’s growing middle class. This commercial relationship between these countries is continuing to grow and has reached an entirely new level.

As of recent, companies in Spain have been following a common trend of expanding overseas. The country’s ability to grow in foreign markets is on the rise as successful Spanish companies turn their focus to manufacturing and developing new products in emerging markets abroad. Over the last three years, Spain has maintained a 1.8 percent share of world trade despite the rise of China and the Far East. As Spain looks to retain its position as a strong exporting nation by expanding into new markets, the domestic workforce will face steady unemployment.

As globalization becomes an increasingly important trend in the business world, finding the right country to conduct business in may seem like a difficult task. However, it could be easier than you think. The International Finance Corporation, an organization under the World Bank, develops an index to rank 183 countries based on their ease of doing business. The country rankings depend on nine different percentile categories including: starting a business, dealing with construction permits, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and closing a business.

Here is the list of the top ten countries:

As the demand for energy is expected to grow by double digits in the upcoming decades, the search for the right energy source to fulfill this demand has begun. The serious problems at the Japanese nuclear power plant have raised major concerns about the safety of nuclear energy and new exploration for oil has yet to resume in the Gulf of Mexico after last year’s massive oil spill. Coal has had similar bad luck as coal plants have been used more cautiously due to their contribution to global warming. With these three energy sources ruled out, natural gas is looking like a top candidate to fulfill future energy demands.

Across the world there are many emerging economies that provide excellent opportunities for businesses looking to invest in these countries. In the Middle East, there is one emerging economy that is of particular importance. The country of Turkey has the largest economy in the region and is in the process of accomplishing a major milestone. Soon, Turkey will enter the group of $1 trillion economies and with this major economic growth, Turkey is certainly considered a significant emerging economy.

As the world’s population continues to grow and the problem of poverty remains, it is clear that we must continue to develop the world economy. However, many believe that this economic growth should not come at the cost of the environment that supports our lives. Recently, the United Nations released a report that estimated the cost of changing the world from an unsustainable economy to one that is both resource efficient and environmentally friendly.

As the benefits of international trade increase, many countries search around the globe for reliable markets that provide vast opportunities for exports and foreign investments. Over the past years, Latin America has proven to be a very important and dependable market for U.S. exporters.

In 2001, global economist Jim O’Neill labeled Brazil, Russia, India, and China as the premier emerging markets of the world with enormous economic potential. The mainstream BRIC acronym was applied to these countries and the hype surrounding these countries was well deserved. Over the past decade, the countries have contributed to over a third of world GDP growth. Recently, Jim O’Neill named the next tier of large emerging economies using the term MIST – or Mexico, Indonesia, South Korea, and Turkey.

During the cold winter months, businesses use an enormous amount of energy to heat their working facilities. With soaring energy prices around the globe, businesses are looking for ways to save energy to reduce these high energy costs. A company in Sweden has found an exceptional way to do just this. Sweden’s creative approach to heating might just surprise you.

In Kabul, Afghanistan the United States established the new American Chamber and named Dom LaVigne as its first executive director this past November. Dom LaVigne, former executive director of the American Chambers of Commerce in Singapore and Malaysia, recently sat down with International Trade Specialist Doug Barry to discuss the many opportunities for business in Kabul.

There are many markets for U.S. goods in the Middle East and North Africa but the largest single market happens to be relatively new. Formed in the 1970s, the United Arab Emirates is the largest single market for U.S. goods in the region and the 19th largest market globally. The United Arab Emirates is a federation composed of seven states located on the Arabian peninsula. As new, large-scale infrastructure projects continue to develop, this market will remain a prominent source of opportunities for United States exporters.

A few weeks ago, President Obama discussed progress made on an important goal of the United States. Over the next five years, the American economy is looking to double its exports and support the creation of many new American jobs. The first step of this process began with the implementation of the new U.S. export control system in August of 2010. Now, President Obama’s Administration is deploying its Export Control Reform Initiative webpage at export.gov. This website has helped the United States make remarkable gains on its plan to double national exports.

Today, business trips are common for many employees as modern transportation allows people to travel around the world quite easily. Hotels are a critical component in the business trip process and play a major role in accommodating business travelers. With this responsibility, hotels are looking to provide comfort to the many business travelers that are expected to keep up with their workloads on the road. Businesses in the hospitality and travel industry are changing their strategy to satisfy their hard working customers. You may have a guess to what this new strategy may be—remodeled lobbies and bars, more comfortable beds, or luxurious restaurants? Actually the answer is rather simple. Hotels are now accommodating business travelers with a redesigned workspace in hotel rooms.

Over the past ten years, Brazil has emerged as a major global power capable of wide scale competition in the international marketplace. Being the world’s fifth-largest land mass and the eighth-largest economy, Brazil has become one of the top global producers of market necessities including vegetables, minerals, water, and energy. Brazil’s economic growth correlates with the relative decline of United States influence in Latin America and the rise of new economic powers in Asia. Now, Brazil is looking to exert its force as a global heavyweight with an ambitious foreign policy.

Businesses and countries alike are finding new ways to protect the environment by reducing emissions of harmful pollutants. One of these ways is a market-based approach called carbon trading which provides economic incentives for business firms that limit their output of carbon emissions. These carbon trading markets are beginning to form all around the world and the country of Kenya plans to launch Africa’s first carbon exchange.

With China’s push for rapid economic development, it’s no surprise that China consumes more energy than any other country in the world. As China dominates the global energy market, it also is the single biggest force in causing oil prices and carbon emissions to increase. However at the same time, the International Energy Agency claims China to be the most influential country in the development of renewable energy. China is looking to lower the costs of oil and reduce carbon emissions linked to negative climate change by improving the progress of green energy. This developmental process of increasing the supply of energy in China will affect almost every country in the world.

Today, immigration is often regarded as an economic threat because jobs are believed to be stolen by immigrants. However, a recent study published by the National Bureau of Economic Research contradicts this popular bias. The results of the study indicate that immigration encourages business activity and produces more jobs for a country’s economy. You may be asking yourself: “How can immigrants competing with domestic labor for jobs, actually create more jobs?” There are several reasons which help answer this question.

Dubai, one of the seven emirates of the United Arab Emirates, faces major environmental problems after years of rapid urbanization and business growth. Located in the desert south of the Persian Gulf, Dubai’s biggest challenge is providing fresh water to its residents. However, the city has many other problems including waste management and sewage treatment operations. Despite being situated on vast oil reserves, the region is also running low on energy sources to support its lifestyle. On top of these complications, the United Arab Emirates (UAE) is preparing for a population boom this upcoming decade. Therefore, concepts of sustainability and environmental issues are becoming very important to businesses and citizens of Dubai.

At a large annual conference of marketing, the words “tweet”, “fans” and “like” were used almost as often as “touch points”, “benchmark” and “prioritize.” Why? The reason for this is rather simple: The importance of social media is expanding considerably in today’s modern business world. Holding its 100th anniversary meeting, the Association of National Advertising discussed marketing gains by companies that are using social media to amplify their brand name and advertise more effectively.

In the world today, clean energy sources are becoming more valuable each day with the growing concerns to protect our environment. The energy industry includes many different variations of these renewable energies including: wind power, hydropower, solar power, geothermal power, and biomass power. Nowadays, renewable energy businesses can be found in countries all around the world.

India, being known as a country inclined to new technology, has added yet another innovation to its inventory—a talking newspaper advertisement. When readers opened to the last page of a popular Indian newspaper, a voice began to talk resembling a radio commercial. The source for this surprising advertisement was a light-sensitive, voice activated chip that encouraged readers and listeners alike to buy a new Volkswagen sedan. Weighing only one ounce, this paper-thin chip is a groundbreaking design. This “talking newspaper” can change the way print media is viewed and provides businesses a new way to communicate their messages with customers.