Established in 1988 as the National Association of Small Business International Trade Educators (NASBITE), NASBITE International is a nonprofit organization who aims at advancing global business practice, education, and training. NASBITE has been a leading organization that promotes an exchange of information and resources among global business education and assistance professionals. Among many others, NASBITE’s specialties include international trade, global marketing, small business administration, supply chain management, and professional development.
globalEDGE Blog - Page 103
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The Russian economy has been hit hard by the global drop in oil prices, which began in the summer of 2014. Oil prices, once over $110, now sit slightly above $50. Oil exports are a vital component of the Russian economy and made up $250 billion of the country’s exports until the collapse in prices. Today, oil exports only amount to $60 billion, a 75% drop. To combat the reduction in oil exports, the Russian government has been working hard to build up the country’s agriculture industry. The government’s efforts, along with positive impacts from European Union sanctions, are beginning to make a difference and are shaking up the global dynamics of the agriculture industry.
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Inflation plays a major role in every economy in the world and measuring it is a very difficult issue for government statisticians. A variety of indices to measure inflation exist and each country picks the indices that are deemed relevant and measure it according to their own economy. Therefore, even if two countries use the same index, the basket of goods used to measure the index will include different items that are constantly revised and updated.
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On Saturday, March 25, 2017, MSU will host its 10th World Languages Day sponsored by CIBER. World Languages Day is a free, all-day conference for high school students, teachers, and parents. Each year, this event brings over 500 participants, presenters, and volunteers to campus to learn about language, culture, globalization, and general information about MSU. Participants choose from 75-85 sessions taught by MSU faculty, graduate students, and community members on a variety of topics such as:
- A taste of Thailand: Spices, sayings, and script
- Skål! Learn to celebrate like a true Viking
- The power of yoga
- Around the French-speaking world in 50 minutes
- And many more!
Learn more about World Languages Day and its variety of session offerings here.
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On March 29th, Britain is expected to formally trigger Article 50 of the Lisbon Treaty, which will open a two-year time window to negotiate the exact terms of the British exit from the European trade bloc. With all of the uncertainty surrounding what will become of the current free trade system between the United Kingdom and the rest of the European Union (EU), companies are taking a strong proactive approach to mitigate potential risk rather than waiting until 2019 to know the exact ramifications a post-Brexit trade deal will have on this business.
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Iron ore is one of, if not the, most used elements in the modern world. Iron is the most important part of the steelmaking process and about 98% of the world’s iron ore is used to make steel. It has a combination of strength and durability most metals cannot compare to. Because of this, in much of the world products that contain steel are seen almost everywhere, from small household appliances to cars and major construction projects.
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A memorable part of most people’s childhoods is learning how to ride a two wheeled bicycle. Now that skill is becoming a vital mode of transportation for many in Beijing, China. There are multiple start up apps running the main front of this business such as Mobike and Ofo. All one must do is download the app and it will locate the nearest bike. This service costs only 7 cents for a half hour and has taken off in Beijing. However not everyone is happy about the healthy, cheap new mode of transportation.
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Norway is officially the happiest country in the world. The United Nations recently published their World Happiness Report, which goes into detail regarding the factors that are measured to determine overall happiness of a country. Continue on to read about what makes Norway stand out, and where the United States stands in comparison.
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In part four of this week's trade bloc series, we explore ECOWAS.
As of February 25, 2017, Morocco has become the latest African country to request to officially join the Economic Community of West Africa States (ECOWAS). ECOWAS was created in 1975 to increase economic and political stability among its members. If accepted, Morocco will become the 16th member of the West African bloc. According to sources, the decision was made by the need for Morocco to crown the strong political, human, historical, religious and economic ties at all levels with ECOWAS member countries. Although not formally a member, Morocco has maintained close relations with the ECOWAS for several years.
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In part three of this week's trade bloc series, we are taking a look at CEFTA.
Historically, the Visegrad Group, Czech Republic, Hungary, Poland, and Slovakia, were at the cross roads of trade in Central Europe. The Central European Free Trade Agreement (CEFTA) was initially established in December 1992 as a free trade agreement by the Visegrad group, with the goal of eventually further integrating into political, economic, legal, and security of institutions in Western Europe. Currently, Albania, Bosnia and Herzegovina, Macedonia, Moldova, Montenegro, and Kosovo are parties to the CEFTA agreement. Due to changes of the agreement in 2006, memberships are ended once member states of CEFTA are accepted into the European Union, and Balkan states are now covered by CEFTA.