...| Globalization | | Curtis SwordMGT 333Professor Calton | 4/12/2012 | | Globalization is the process of converting the world markets to a single market without barriers to trade and investment flows. The concept of globalization is said to have been spawned out of the Cold War as a result of the increase in specialization and the need for trade. As a result of globalization many economists, businesspeople, and politicians have found that they needed to change their policies and adopt what is called “the Golden Straightjacket”, which is a set of guidelines that governments and businesses must follow to be successful in a unified market. Many economists, politicians, authors, and businesspeople have differing views on the costs and benefits of putting on the Golden Straightjacket. Tom Friedman, an economist and author, argues that the Golden Straightjacket is a good thing for the world economy, while Naomi Klein, author of The Shock Doctrine, argues that free trade is a technique used to make the rich richer and the poor poorer. Other ideas that have been argued are the effect globalization has on the spread of democracy. Tom Friedman argues that globalization is used to revolutionize governments to conform to democracy while Dani Rodrik, author of The Globalization Paradox, says that globalization actually hinders the spread of democracy. Klein, Rodrik, and Friedman offer differing views that reveal the various costs and benefits of globalization. Globalization...
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...1. Absolute Monarch-form of government where the monarch (usually a king or queen) has absolute power; monarch has unrestricted political power over the sovereign state and it’s people; usually born into power 2. Age of Reason-18th century movement that followed after the mysticism, religion, and superstition of the Middle Ages 3. Agrarian-cultivated land; person who advocates a redistribution of landed property, especially as part of a social movement 4. Akbar The Great (Mughal India)-Mughal emperor from 1556-death; extended power over most of India Continent; united Muslim and Hindu peoples with his policy of religious cooperation 5. Atheists-person who lacks the belief in the existence in God’s or a God 6. Batavia, Indonesia-Fort established in 1619 as headquarters of Dutch East India Company operations in Indonesia; today the city of Jakarta. 7. Calvin, John-1509-1564. French theologian. Developed the Christian theology known as Calvinism - believed in predestination and a strict sense of morality. Attracted Protestant followers with his teachings. 8. Cash Crop-readily salable crop that is grown and gathered for the market (vegetables, cotton, tobacco) 9. Circumnavigation- travel all the way around the Earth 10. Colonization-physical process whereby the colonizer takes over another place, putting its own government in charge and either moving its own people into the place or bringing in indentured outsiders to gain control of the people...
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...Organization of the Petroleum Exporting Countries | | | | | Headquarters | Vienna, Austria | Official languages | English[1] | Type | Trade bloc | Membership | 12 states (2011)[show] * Algeria * Angola * Ecuador * Iran * Iraq * Kuwait * Libya * Nigeria * Qatar * Saudi Arabia * United Arab Emirates * Venezuela | Leaders | - | President | Rostam Ghasemi | - | Secretary General | Abdallah el-Badri | Establishment | Baghdad, Iraq | - | Statute | September 10–14, 1960 | - | in effect | January 1961 | Area | - | Total | 11,854,977 km2 4,577,232 sq mi | Website www.opec.org | | Currency | Indexed as USD-per-barrel | | | | Current members OPEC has twelve member countries: six in the Middle East, four in Africa, and two in South America. Country | Region | Joined OPEC[25] | Production (bbl/day) | Algeria | Africa | 1969 | 2125000 !2,125,000 (16th) | Angola | Africa | 2007 | 1948000 !1,948,000 (17th) | Ecuador | South America | 2007[A 1] | 0485700 !485,700 (30th) | Iran | Middle East | 1960[A 2] | 4172000 !4,172,000 (4th) | Iraq | Middle East | 1960[A 2] | 3200000 !3,200,000 (12th) | Kuwait | Middle East | 1960[A 2] | 2494000 !2,494,000 (10th) | Libya | Africa | 1962 | 2210000 !2,210,000 (15th) | Nigeria | Africa | 1971 | 2211000 !2,211,000 (14th) | Qatar | Middle East | 1961 | 1213000 !1,213,000 (21st) | Saudi Arabia | Middle East | 1960[A 2] | 8800000 !8,800,000 (1st) | United...
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...International Monetary Fund was originally laid out as a part of the Bretton Woods system exchange agreement in 1944. During the earlier Great Depression, countries sharply raised barriers to foreign trade in an attempt to improve their failing economies. This led to the devaluation of national currencies and a decline in world trade. This breakdown in international monetary co-operation created a need for oversight. The representatives of 45 governments met at the Bretton Woods Conference in the Mount Washington Hotel in the area of Bretton Woods, New Hampshire in the United States, to discuss framework for post-World War II international economic co-operation. The participating countries were concerned with the rebuilding of Europe and the global economic system after the war. There were two views on the role the IMF should assume as a global economic institution. British economist John Maynard Keynes imagined that the IMF would be a cooperative fund upon which member states could draw to maintain economic activity and employment through periodic crises. This view suggested an IMF that helped governments and to act as the US government had during the New Deal in response to World War II. American delegate Harry Dexter White foresaw an IMF that functioned more like a bank, making sure that borrowing states could repay their debts on time. Most of White's plan was incorporated into the final acts adopted at Bretton Woods. The International Monetary Fund formally came into existence...
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...forgotten deepest thanks and appreciation to staff from Adabi Consumer Industries Sdn Bhd, Madam Azatul Izan Bt Mohamed Nordin as a product manager for giving us details information about Adabi’s product in local market and international market. We also thanks to all of group member that have been contributed by supporting this work and give fully cooperation, commitment and help during this project progress till it is fully completed Last but not least, thanks to our parents, family and friend for their constructive suggestion, idea and full of support for the report completion from the beginning till the end. Thank you. PART 1: MARKET ANALYSIS i. General Information The country that our company chooses is Indonesia. The name Indonesia has its roots in two Greek words: "Indos" meaning Indian and "Nesos" which means islands. It is an appropriate description of the archipelago as there are estimated to be a total of 17,508 islands, of which only about 6,000 are inhabited, stretching for 5,150 km between the Australian and Asian continental mainland’s and dividing the Pacific and Indian Oceans at the Equator. Five main islands and 30 smaller archipelagoes are home to the majority of the population. The main islands are Sumatra (473,606 sq.km), Kalimantan (1539,400 sq.km), Sulawesi (189,216 sq.km), Irian Jaya (421,981 sq.km), and last but not...
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...December10, 2010 MGT 4600 Final Chapter 1: Increase in expansion of technology because the more advanced and available technology is to the developing world; the more competitive they are allowed to become. Growing consumer pressures because global discretionary has risen to the point that there is now widespread demand for products and services that would have been considered luxuries in the past. Increased global competition because incomes have grown globally and more consumers have satisfied their needs. So companies must develop what they believe customers will want. Changing political situations is major reason for growth because of the end of the schism between most Communist and non-Communist countries. Chapter 2: Cultural collisions that happen between international businesses and the countries that they attempt to start their businesses in. A company implements practices that work less well than intended. Social Stratification Systems because every culture values some things and people differently than other regions of the earth do. Information and task processing is important because some cultures tend to focus on the whole and then on the parts, whereas others do the opposite. Chapter 3: Individualism is important because it describes which refers to the primacy of the rights and role of the individual. Many western cultures follow this ideology which makes it difficult to transition to different places that clash with this characteristic. Collectivism...
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...Assignment Currency Devaluation Introduction Devaluation refers to a decrease in a currency's value. A currency devalues when its value declines in relation to one or more other currencies. It affects the demand for exports and imports. Currency devaluation is evaluated in terms of the foreign exchange rate. Exchange rate is the value between two currencies shows how much one currency is worth in terms of other currency. The depth and intensity of exchange rate volatility and its impact on the volume of international trade was recognized during 1970s when the world economy shifted from fixed exchange rate to free floating exchange rate. If the exchange rate volatility is higher, then it will generate uncertainty of the future profit from export trade. In this assignment we will discuss on such issues like exchange rate volatility I addition to currency devaluation and its impact on the volume of international trade of developing country focusing Bangladesh. This assignment is based on the exchange rate and its volatility in addition to devaluation that affect on the on international trade of Bangladesh. The concept of the study is taken from the academic activity of ECN-201 course instructed by Mrs. Nahid ferdousi, lecturer of Department of Business Administration of University of Asia Pacific. This paper consists of three parts. In first part we will give a short description of currency valuation and factors that affects the currency valuation, and then we animated...
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...European Union:- A group of European countries that participates in the world economy as one economic unit and operates under one official currency, the euro. The EU's goal is to create a barrier-free trade zone and to enhance economic wealth by creating more efficiency within its marketplace. The current formalized incarnation of the European Union was created in 1993 with 12 initial members. Since then, many additional countries have since joined. The EU has become one of the largest producers in the world, in terms of GDP, and the euro has maintained a competitive value against the U.S. dollar. EU and non-EU members must agree to many legal requirements in order to trade with the EU member states. The European Union is a group of countries whose governments work together. It's a bit like a club. To join you have to agree to follow the rules and in return you get certain benefits. Each country has to pay money to be a member. They mostly do this through taxes. The EU uses the money to change the way people live and do business in Europe. Countries join because they think that they will benefit from the changes the EU makes EU is a unique economic and political partnership between 27 European countries that together cover much of the continent. The EU was created in the aftermath of the Second World War. The first steps were to foster economic cooperation: the idea being that countries who trade with one another become economically interdependent and so more likely to...
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...Index Introduction------------------------------------------------------------------------------4 Diversity Amid Globalization-------------------------------------------------------5 The Changing Global Environment----------------------------------------------11 North America---------------------------------------------------------------------------12 Latin America---------------------------------------------------------------------------23 The Caribbean--------------------------------------------------------------------------27 Sub-Saharan Africa-------------------------------------------------------------------31 Southwest Asia and North Africa------------------------------------------------32 Europe------------------------------------------------------------------------------------34 The Russian Domain-----------------------------------------------------------------39 Central Asia-----------------------------------------------------------------------------42 East Asia---------------------------------------------------------------------------------45 South Asia-------------------------------------------------------------------------------47 Southeast Asia-------------------------------------------------------------------------50 Australia and Oceania---------------------------------------------------------------57 Conclusion------------------------------------------------------------------------------60 Bibliography----------------------------------------------------------------------------61 ...
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...PAUL KRUGMAN WINNER OF THE NOBEL PRIZE IN ECONOMICS THE RETURN OF DEPRESSION E C O N O M CS AND T H E C R I S I S OF I 2 0 0 8 ISBN 9 7 8 - 0 - 3 9 3 - 0 7 1 0 1 - 6 W USA $24.95 CAN. $27.50 hat better guide could we have to the 2008 financial crisis and its resolution than our newest Nobel Laureate in Economics, the prolific columnist and author Paul Krugman? In his prescient 1999 classic, The Return of Depression Economics, Krugman surveyed the economic crises that had swept across Asia and Latin America and pointed out that they were a warning for all of us: like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression were making a comeback. In the years that followed, as Wall Street boomed and financial wheeler-dealers made vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America. When the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises—and a replay of the 1930s seems all too possible. In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States and the world up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken...
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...Barbados Barbados is a North American sovereign island country located in the Caribbean. The capital of this state is Bridgetown. This state raised its head as an independent state in 1966 after being a Colony of the British Empire for almost 350 years. Category | Fact | Category | Fact | 1.Size | 439 Square km | 4.Religion | Christianity | 2.Population | 277,821 | 5.Currency | Barbadian Dollar | 3.Language | Barbadian | 6.GDP Rate | $16,653 | The main resources of Barbados are Petroleum, Fish, Natural gas, Sugarcane etc. The national symbols of Barbados are Neptune's trident, pelican, and Red Bird of Paradise flower (also known as Pride of Barbados). In Barbados Queen Elizabeth II is the Head of the State and represented locally by Governor General which is at present Elliott Belgrave. These two heads are advised by the Prime Minister of Barbados who is also the Head of the Government on matters of Barbadian state. The current Prime Minister of Barbados is Freundel Stuart. ...
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...This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work’s original creator or licensee. Organization The overarching logic of the book is intuitive—organized around answers to the what, where, why, and how of international business. WHAT? Section one introduces what is international business and who has an interest in it. Students will sift through the globalization debate and understanding the impact of ethics on global businesses. Additionally, students will explore the evolution of international trade from past to present, with a focus on how firms and professionals can better understand today’s complex global business arena by understanding the impact of political and legal factors. The section concludes with a chapter on understanding how cultures are defined and the impact on business interactions and practices with tangible tips for negotiating across cultures. WHERE? Section two develops student knowledge about key facets of the global business environment and the key elements of trade and cooperation between nations and global organizations. Today, with increasing numbers of companies of all sizes operating internationally, no business or country can remain an island. Rather, the interconnections between countries, businesses, and institutions are inextricable. Even how we define the world is changing. No longer classified into simple and neat...
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...RETHINKING THE EAST ASIAN MIRACLE JOSEPH E. STIGLITZ AND SHAHID YUSUF Editors RETHINKING THE EAST ASIA MIRACLE JOSEPH E. STIGLITZ AND SHAHID YUSUF Editors A copublication of the World Bank and Oxford University Press i Oxford University Press Oxford • New York • Athens • Auckland • Bangkok • Bogotá • Buenos Aires • Calcutta • Cape Town • Chennai • Dar es Salaam • Delhi • Florence • Hong Kong • Istanbul • Karachi • Kuala Lumpur • Madrid • Melbourne • Mexico City • Mumbai • Nairobi • Paris • São Paulo • Singapore • Taipei • Tokyo • Toronto • Warsaw and associated companies in Berlin • Ibadan © 2001 The International Bank for Reconstruction and Development / The World Bank 1818 H Street, N.W., Washington, D.C. 20433, USA Published by Oxford University Press, Inc. 198 Madison Avenue, New York, N.Y. 10016 Oxford is a registered trademark of Oxford University Press. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Oxford University Press. Cover design and interior design by Naylor Design, Washington, D.C. Manufactured in the United States of America First printing June 2001 1 2 3 4 04 03 02 01 The findings, interpretations, and conclusions expressed in this study are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations...
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...or bank. But, it is suitable for gold dinar to replace the current fiat money that already in circulation for more than a decade in the market? Even though the Gold Dinar is not a legal tender, the bimetallic gold and silver system has been used as a medium of currencies since the Byzantium era before it ended in the year 1875 when the fiat money was introduced to replace the gold and silver coins from the monetary system. As we know, gold dinar has been around us for a long decade. History shown that gold dinar is a very effective medium of exchange for a long time. But why all the country nowadays uses paper money? Paper money had such a bad reputation in the economy but still most of the banks use this type of money for their everyday transaction. There must be a reason why paper money holds a very strong influence in the current economy although it was devastating when we use it. But throughout the history, gold dinar also had shown an issue of its own. A gold standard had a breakdown in 1931 and the world witness a era of freely fluctuating exchange rates between national currencies. The International Monetary Fund (IMF) was established in 1946 to make arrangements for fixing exchange rates among national currencies with some measure of flexibility and help them tied over their balance of payments difficulties. The return to gold standard was not considered desirable, for a variety of reasons. After the 1997-98 financial crisis Malaysia was in particular searching for...
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...Critically examine the impact of political, economic & legal factors affecting the airline industry. The airline industry has had its fair share of ups and downs the following are the factors that are affecting the airline industry Economic factors A huge amount is spend in landing fees, time spend in foreign lands and all these fees are paid in US Dollars and it might expensive to some airlines especially if the exchange rate is weak. Fuel prices are also in US Dollars so the stronger the currency of origin against the US Dollar the cheaper it becomes to reduce overall operational costs for the airlines however the sad story is that only a fewer currencies are stronger than the US Dollar. Fuel prices have consistently increased and is likely to continue into the future while price wars between airline companies have become ever more intensive due to increased competitive levels in the industry. Fuel costs as play a significant role in the day to day running of an airline as fuel costs constitutes 30% of total operational cost. This is due to existing rivalries as well as new entrants within the discount airline market segment. In contrast to its rivals SIA has preferred policies of adding extra value through customer service rather than ones of pure discounts on prices. Similarly investment in technology such as the development of an e-ticket system enhanced its strength in terms of cost effective sales and billing systems. These developments have been supported by skilled...
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