globalEDGE Blog - By Author: Margaret Keefer

A new wave of start-ups are forever changing the way people view the borrowing and saving of money. These financial-technology firms, or fin-tech firms, are gearing away from large corporations, such as Western Union, and are now relying on safe technology to enhance the financial world from the comfort of their warehouses. The many rising firms are reaping in the profits, while simultaneously sparking interest in investors and challenging the institutions that have reigned over the financial world for years.

Germany’s decision to slowly close its many nuclear power plants over the next decade was met with much support. Consequently, new plans for renewable energy sources started to accumulate, with the grandest, most expensive plan proceeding in the North Sea.  Germany’s ambitious plan is entitled Energiewende, or energy transition. This state-backed plan seeks to build fourteen gigawatts of wind turbines off the coast of the North Sea by the year 2023. These turbines alone will provide for roughly one tenth of the country’s energy needs.  The elaborate plan has met many issues, both financial and political, though. Will the turbines come to fruition in spite of its obstacles, or will this become just a giant waste of taxpayer money?

Are you a recent college graduate with no job prospects or hope for repaying your student loans? If this doesn’t describe yourself, you probably know someone in a similar situation. Maybe packing your bags and heading to China to work with the People’s Liberation Army is the answer to the distressed college graduate’s problems.

There have been recent increasing efforts to recruit highly educated individuals to work for the PLA. Employees not only earn financial compensation, but also the highly coveted hukou, which is a permanent Beijing residence card, after serving their duty with the Army.  The new recruiting strategies aim to upgrade the PLA to a higher caliber. However, can China prove that it is all that it’s cracked up to be for aspiring young graduates?

As May crawls to a close, the team here at the International Business Center at Michigan State University is gearing up for a highly anticipated event for faculty. Held at our renowned Kellogg Center every other year, the International Business Institute for Community College Faculty is an incredible learning environment for faculty nationwide to expand their institutions on the international spectrum.

Back in February, a colleague of mine wrote a blog post regarding the European horsemeat scandal in which horsemeat was advertised as beef in supermarkets. He described the implications that this might have concerning the global supply chain. One quote of his that proved to be shockingly accurate was, “…that the recent events involving horsemeat are only the tip of the iceberg.” Yet another food safety scare has arisen in China, where people are getting served rat meat for dinner instead of the requested mutton meat. China has experienced other food scandals in recent years, mostly involving toxins detected in dairy products. These food scandals have resulted in increased international trade, especially with dairy products, and the much needed increase in food-safety regulation in China.

For the most part, my pennies spend most of their time collecting dust in either the bottom of my wallet or in the cup holders in my car. Apparently Canada, among other countries like Australia, Brazil and Sweden, has had enough with the cumbersome coins as well. As of February of 2013, Canada officially ceased distributing pennies, considering the cost of manufacturing them is even more than the worth of the penny. Should the United States and the U.K. follow in Canada’s footsteps and eliminate the penny?

Controversies surrounding the Keystone XL pipeline have arisen yet again due to the pipeline rupture that occurred in Arkansas suburbs just last week. Over 12 thousand barrels of heavy crude oil flowed into a residential neighborhood, rendering about 24 families homeless during the evacuation. Even though an around-the-clock cleanup began last Saturday, what will this mean for Pegasus pipeline, run by Exxon Mobil? And also, how will the leak affect public opinion regarding the implementation of the Keystone XL pipeline?

Despite looming budget cuts that sequestration has promised for the United States, investors seem unconcerned, considering the record-breaking levels the Dow reached just last week. With help from the Chairman of the Federal Reserve, Ben Bernanke, propping up the market, the Dow reached 14,286.37 last Tuesday to break the previous record of 14,198.10 from October of 2007. Although this is exciting news for investors and publicly traded companies, there are several concerns resounding with this new, record-breaking high.

Here at Michigan State University, basketball is not simply a sport; it has its own culture. Spartan basketball is a way of life. If you disagree, you need only watch the Izzone student section for a few minutes to understand the passion for MSU basketball. This season, though, has been somewhat different for the stars of the basketball team.

The team got a facelift in technology when they were given new software for free that enables head coach Izzo to almost instantly send recaps of plays with a detailed analysis to the players on any one of their devices. This sort of coaching technology has skyrocketed recently and is starting to make its debut in foreign countries.

2013 might just be the year emerging markets have been anticipating. Throughout the past year, investors have been pouring money into emerging markets in developing countries. There are other factors that point to success for emerging markets, but are they enough to boost the small businesses to profits and prosperity?

It is no secret that America tops the list of fattest nations. In fact, it is one of the largest stereotypes facing the people of the United States. Yet for the first time, competition has emerged from other nations like Mexico, New Zealand, and Chile and it may even be due to U.S. markets. Both fast food and drug markets are spreading globally, and consequently, so is obesity. With obesity, of course, come related health issues, especially diabetes, which is where the pharmaceutical companies swoop in to save the day while churning out incredible profits.

It is well known that areas in Asia, specifically Hong Kong and Beijing, are reputable for their dangerous air pollution and constant smog. In response, Hong Kong has begun to implement restrictions for the transportation industry regarding fuel and emissions, while even offering up to 50% savings on port fees for those vessels switching to fuel that doesn’t contain sulfur. However, these incentives aren’t enough to make the switch for some large container-shipping vessels, because it is simply too expensive to switch from the dirtier oil. When transportation companies refuse to use clean fuel, it gives them a competitive advantage that energy-conscious companies won’t tolerate any longer.

With the 2014 deadline set for the withdrawal of U.S. troops from Afghanistan, franchising consultants are starting to turn their attention toward the prospective market. Besides fast-food chains, there are not many American franchises in Afghanistan, but that may soon change as RadioShack begins to establish ties in the region. Other franchises are following suit, despite depressing property values, capital flight, and other economic woes. The promise among tech-savvy Afghan businessmen may facilitate economic growth, stability, and employment in the suffering region.

In light of ensuing protests in Egypt, attention has been turned to the potential effects the crisis will play on the already stunted global economy. President Morsi of Egypt announced that his decisions would not be subject to judicial oversight until a new constitution has been enacted. This seemingly dictatorial declaration is what sparked the unrest that has already greatly affected the national economy. The protests are continuing, as seen on Sunday when supporters of Morsi surrounded the judicial court, forcing them to suspend sessions until protests have ceased. Due to the continuation of this crisis, the global economy might soon experience some dangerous effects that the Egyptian economy is already facing.

The customer is always right. This golden rule of business even resonates with giant corporations—the consumers are the main priority, because without their support, revenue will stop pouring in. For example, if the consumer wants businesses closer to home, that’s what they’re going to get.  The distance problem has initiated a recent trend in outsourcing that can be seen in countries all over the world, most recently India and the United States.

After an exhaustive Tuesday night of speculation and predictions, Barack Obama managed to hold his position as the President of the United States for another four years. Foreign support for the President rained in on Wednesday through countless newspaper headlines, and it became apparent that allied nations have a tall order for the reelected President. They expect him to start his term off with a strong foreign policy with hopes to quell the global debt crisis and help boost emerging markets.

Economic turmoil in Europe has many concerned for the future of the Eurozone and the stability of its individual members. In need of some reform, European Union leaders congregated to enact a single banking supervisor for the union. The leaders agreed that the European Central Bank will be considered supervisor-in-chief, and this bank has intervention power over all 6,000 Eurozone banks. The plan is to have the banking union functional by the first of January so the Eurozone’s rescue fund, the European Stability Mechanism, can begin with a bang at the start of the New Year. The Stability Mechanism is essentially a firewall system for the EU, and it focuses on dealing solely with bailout applications, leaving transfer and monitoring to other European stabilizing facilities. The initial concerns of the banking union and the European Central Bank will be to rescue failing Spanish banks, and then deal with the pending Greek debt crisis. But of course, European leaders are facing opposition in regard to the new banking union decision.

Scientific advancements regarding genetic modifications have enhanced agricultural economies all throughout the globe.  Most recently, researchers have implemented a gene in soy that resists drought. Formerly used in sunflowers, the gene has been transferred and is being applied to soy in Brazil. Agriculture plays a prominent role in Brazil’s economy, accounting for 36% of exports; $7.9 billion alone was in agricultural exports to China. This reconstructed soy will not only allow for drought resistance, but also the ability to grow in salty soil, thus allowing soy development in previously uncultivated areas in Latin America. Of course, this expansion may lead to issues, both environmentally and economically.

The changing global climate has become increasingly more difficult to ignore due to climbing air and water temperatures, rising sea levels, and melting of polar snow and ice. Recent reports have stated that the area of ice in the arctic has never been smaller, which has recently caught the attention of Asian economists. The opening of the Arctic north promises new trade routes, untapped reserves of oil, and an abundance of minerals to discover.