The food service industry is experiencing more changes than ever. Several decades ago, traditional food services were improved by food delivery apps. Now, a new method of food delivery is on the rise that will revolutionize this industry. Autonomous vehicles have been in the spotlight recently, from daily conversations to public debates. But who would have imagined for autonomous driving to step into the food industry first? Currently, auto manufactures from around the world are partnering with small startups to deliver food and groceries.
globalEDGE Blog - Page 59
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The development of fracking has created a revolution in the United States oil and gas industry. Following a conference in Houston, analysts have projected the U.S. to surpass Russia and Saudi Arabia to become the world's top crude exporter within the next few years. The U.S. is projected to double its gross crude oil exports to 4.2 million barrels per day by 2024. Additionally, the United States is expected to account for 70% of the total increase in global production capacity over the next 5 years. Directors for the International Energy Agency have crowned this the “Second wave of the U.S. shale revolution”. Additionally, there is a $2.5 billion project being discussed that would carry wind and solar energy from Iowa into the Chicago area. This ‘cord’ is estimated to be 349 miles long and would connect to a power grid serving 13 midwestern states.
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Brazil is the largest country in South America and the fifth largest country in the world. They have endured much financial and political hardship as a nation. Just three years ago, Brazil's economy experienced 8 consecutive quarters of contraction. GDP declined 3.6% in 2015 and 3.8% in 2016. Recovering from their worst recession in a century, Brazilian citizens had to overcome corruption from thousands of politicians and business owners alike. Even the president was arrested and prosecuted for crimes of corruption
As a result of this, new controversial president Jair Bolsanaro was elected with high hopes for Brazil's economic future. President Bolsanaro has a plan to revitalize his nation through economic reform.
Specifically, he had three goals that he wants to reach to make a positive difference in Brazil. He wants to privatize government owned businesses that dominate the economy, he wants to cut taxes, and he wants to make trade deals that more closely align with the interests of Brazil. Eletrobras, Brazil's state owned electricity company, is currently scheduled to be partly sold to public investors by June 2019. He plans to increase the minimum annual salary to pay taxes from $6,000 to $30,000, and he plans to install a single 20% tax rate for all households. Finally, he hoped to mend fences with America to promote beneficial trade relations.
Just three months into his presidency, we haven't been able to see the results of Bolsanaro’s presidency. The outcome of this legislation will have a monumental effect on Brazil's presence in world relations in the future.
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As stated by Capital Economics’ Chief Asia Economist Mark Williams, “China’s time as an emerging markets outperformer is ending”. The reasons for this include high levels of debt, a declining working-age population, and lower levels of productivity. This has the potential to send shockwaves through countries supply chains and force companies to look elsewhere when seeking imports. The Chinese government is planning to cut taxes and boost military spending as a cash injection into the economy, but analysts remain skeptical. Last year, China reported growth of 6.6%, anything below this mark would be a new three-decade low.
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Under globalEDGE Insights by Country, a variety of indices can be found for each country. GlobalEDGE has recently updated its indices including the Big Mac Index. The Big Mac Index includes the price of a Big Mac in different countries around the world. This index has become a global standard based on the theory of purchasing power parity, and that over time, exchange rates should move so that an identical basket of goods would have equal prices across countries. There is a GDP-adjusted index that addresses the changes in prices between countries with higher or lower labor costs.
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The State Insights section was recently updated by the globalEDGE team. These sections include background information, important trade destinations such as ports and major cities, and a list of trade contacts for each of the 50 American states. In addition to this information, Fortune 1000 company rankings and data, trade statistics, and resources designed to enhance your business knowledge are included within the State Insight sections.
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We are approximately a decade since the United States last recession and the U.S. Federal Reserve is coming close to finalizing a plan on how to reduce its balance sheet. At its peak, the portfolio was valued at over $4.25 trillion. The Federal Reserve purchased these securities, of which are mostly mortgage-backed securities in three rounds of stimulus that began in 2008 and finished in October 2016. The selloff of securities began in 2017 and plans to sell the majority of their holdings before the conclusion of 2019.
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In the past few decades, there has been a steady increase in the number of international tourists everywhere, both inbound and outbound. As connections increase due to globalization and advanced technology, more people are traveling for leisure than ever. This increase has shaped a new industry with high growth potential. In recent years, tourists' spending is increasing at a surprising speed, contributing to countries GDP and shaping many travel policies.
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US President Donald Trump announced Sunday night that the United States would delay a scheduled tariff rate increase. Currently, $200 billion of Chinese goods are subject to a 10% tariff, however, that rate was slated to increase to 25% on March 2nd.
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In the mid-2000’s, smartphones took the world by storm. Offering a plethora of abilities and functions to users, these intricate devices were obsessed over by people around the world, connecting users to anything they desired with the click of a button or a tap of a screen. Recently, however, the smartphone market has experienced several missteps and subsequent difficulties selling their products to consumers.