The world electric car market could get a shake up soon as Porsche unveiled a concept for a four door electric sports car known as the Mission E. This so called “Tesla Killer” won’t hit the streets until at least 2019, but it puts a statement out there that other companies have put a target on Tesla’s back. This is all part of Porsche’s parent company, Volkswagen (VLKAY), push to have a greater presence in the electric car market. The impact this could have the global economy could be huge as the United States is the world’s largest purchaser of hybrid/electric vehicles in 2015, with the Tesla Model S near the top of the list. Tesla is an American company so the impact that a prominent foreign electric car manufacturer could be huge as Porsche claims their car will charge faster and last longer than the current Model S. All hope isn’t lost for Tesla as they still have at least four to five years to improve their current battery technology to compete the Mission E.
globalEDGE Blog - Page 144
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It has been nearly a year since Emma Watson, the United Nations Women Goodwill Ambassador, gave a revolutionary speech introducing the HeForShe campaign. HeForShe is a solidarity movement for gender equality that encourages men and boys around the world to step up and pledge to be advocates for change. Because education is a major determining factor in job positions and opportunities, HeForShe is calling to involve businesses, universities, and governments to help establish equality. HeForShe also encourages advocates to be a part of its IMPACT 10x10x10 initiative that “develops three bold, game-changing commitments to advance and ultimately achieve gender equality for all."
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People are always the ones who suffer the most in war, especially this time in Syria. Half of the country’s population has been displaced and 4 million people have fled as refugees to neighboring countries since the country’s civil war began in 2011. The majority have ended up in Jordan, Turkey, and Lebanon, and new refugees are now seeking “new homes” in Germany and Hungary. Some countries refuse to take refugees because they are considered liabilities for an economy. But some others, such as Germany, take refugees in as opportunities for economic growth.
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The Eli Broad College of Business at Michigan State University recently published an article celebrating the 25th anniversary of Michigan State University's International Business Center (IBC). The article pays tribute to Tomas Hult, the director of the center, and provides a look into the operations that take place within the IBC. Click here to view the article!
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Since the financial crisis, the economic situation in the European Union has been stagnant. Years of low growth and low inflation have left the Eurozone seeking answers. In January 2015, the ECB sought to find these answers through a massive bond purchase program similar to the quantitative easing program that the Federal Reserve carried out in the United States. The plan entailed the creation of €1 Trillion, or approximately €60 billion per month, by September 2016 to carry out the purchase of bonds in Europe. This plan was put in place to push down interest rates, therefore boosting inflation and creating a more attractive environment for credit creation. In turn, this would effectively result in a stimulation of growth throughout the European economy.
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China’s economy has been all over the news recently, as stock prices in Shanghai crashed and worries of an economic slowdown in the world’s second biggest economy troubled investors around the world. One of the most important sectors of China’s economy in recent decades has been the manufacturing industry, and reports on the industry have not helped quell investors’ fears. China’s manufacturing sector has been contracting since the beginning of the year, and recently hit its lowest mark in three years. The poor manufacturing data could be an early signal of an economic shift in Asian manufacturing, as neighboring countries try to take advantage of the developments in China.
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A year into her second term as the President of Brazil, Dilma Rousseff faces an economic crisis in a country that was once a rising star on the global stage. On Wednesday, Standard & Poor’s downgraded Brazil’s credit rating to junk status causing a sell off of Brazilian financial assets. Political leaders in Brazil were quick to cast the blame for this crisis on slumping markets such as China, however this crisis was more self-inflicted than anything else.
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The commercialized use of virtual reality is on the horizon, and it offers numerous opportunities beyond just video game enhancement. Virtual reality is defined as an environment that stimulates physical presence in places in the real world or imagined worlds and lets the user interact in that world. It gives users artificial sensory experiences such as sight, sound, touch, smell, and taste. Imagine a world where one could virtually go to a conference overseas without leaving the comfort of his or her home. Or, imagine a world where you could meet a person without physically being there with them. The possibilities are endless with virtual reality, and as producers get closer to unveiling the products to the mass public, corporations are brainstorming more and more ways to utilize the software.
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India and China are both among the fastest-growing economies in the world. Despite the global economy being in financial turmoil after China's projected lower economic growth, India is trying to project itself as a safe investment with continued economic growth. Prime Minister Narendra Modi called Indian business leaders and economists for a three-hour summit to discuss how to steer India’s economy in a positive direction after China’s slowdown was announced.
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Tomas Hult, Director of Michigan State University's International Business Center, recently wrote an article for The Conversation discussing the recent struggles that the BRIC countries are facing. The article touches on the immense economic promise displayed by Brazil, Russia, India, and China at the turn of the millennium, while also presenting the current economic standing of these nations. Follow this link to access Tomas's article and broaden your knowledge of the BRIC countries.