... the member countries of the BRICS (Brazil , Russia , India , China and South Africa) agreed to create a global financial institution which they intended to rival the western-dominated banks ( Like IMF and World Bank) by 2014.A new phenomenon has been injected in the tottering physique of the world financial order. It is the Fortaleza declaration of development banking and trade prospects by setting up Brics Bank. Leaders of Brazil, Russia, India, China and South Africa inked a deal, on 15 July in Fortaleza, Brazil, to launch a development bank with an initial $50 billion paid-up capital and a $100 billion monetary reserve. It is seen as a fruition of a multilateral financial diplomacy with the help of the multilateral mechanism and platform, without being cramped by Western pressure and dollar power. 2. In terms of economic function, this bank will provide long-term development aid to developing countries like Bangladesh. The monetary reserve will provide an economic stability fund to help BRICS countries respond to financial emergencies. BRICS Development Bank will help us to borrow cash for development projects, and to better cope with the risks created by international monetary system. 3. This paper will AIM 4. The aim of this paper is to.... BRICS AT A GLANCE 5. BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China, and South Africa. The grouping was originally known as "BRIC" before the inclusion...
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...Content Content 2 1. Introduction: Germany at a glance 3 Graph 1.1: World’s largest economies by GDP 3 Graph 1.2: Key economic indicators in Germany since 2000 4 2. Germany’s economy in the lead up to the crisis 4 Table 2.1: Economic data since unification of Germany 5 3. Impact of the crisis in Germany 6 Graph 3.1: Exports in German compared to largest global exporters since 2000 7 Graph 3.2: Germany vs US employment data 8 4. Recovery of the German economy 8 5. Conclusion 9 6. References 10 Introduction: Germany at a glance Germany is a major economic and political force within Europe, and a founding member of the European Union (EU) since 1993. With a population of 82.1m and a Gross Domestic Product (GDP) of €2.5b, Germany is the most populous member state of the EU and has the largest national economy in Europe (EU website, 2014). As indicated in Graph 1.1 below, Germany also has the fourth largest economy by real GDP globally (behind the US, China and Japan) and is the third largest exporter in the world. Graph 1.1: World’s largest economies by GDP Source: International Monetary Fund, World Economic Outlook Database, April 2014 Exports make up approximately one third of Germany’s GDP and are driven by a strong industrial base. Germany is a major producer and exporter of automobiles, transport equipment, mining products, electronic and communications equipment, chemicals and pharmaceuticals (IMF, 2014). As a result of this concentration on exports...
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...***Year wise Remittances flow in Bangladesh (Source: http://www.bangladesh-bank.org/) 2015-2016 | | | 2016-2017 | | | Year/Month | Remittances | | In million US dollar | In million Taka | 2014-2015 | 9920.00(April’15) | 770047.12 | 2013-2014 | 14228.26 | 1105823.62 | 2012-2013 | 14461.14 | 1156460.78 | 2011-2012 | 12843.43 | 1018827.79 | 2010-2011 | 11650.32 | 829928.90 | ***Year Wise Foreign currency Reserve in Bangladesh Bank: (Source: http://www.bangladesh-bank.org/) Period | Reserves(In million US $) | 2016-2017 | | 2015-2016 | | 2014-2015 | 23B (26th Feb, 15) | 2013-2014 | 21558.0 | 2012-2013 | 15315.2 | 2011-2012 | 10364.4 | 2010-2011 | 10911.6 | The inflation rate in Bangladesh was recorded at 6.32 percent in April of 2015. Inflation Rate in Bangladesh averaged 6.63 percent from 1994 until 2015 Inflation in Bangladesh in 2015, January-6.04, February-6.14, March-6.27 And April-6.32. 10.59 million tons in the year 1971 when the country's population was only about 70.88 millions. However, the country is now producing about 25.0 million tons to feed her 135 million people. This indicates that the growth of rice production was much faster than the growth of population. This increased rice production has been possible largely due to the adoption of modern rice varieties on around 66% of the rice land which contributes to about 73% of the country's total rice production However, there is no reason to be complacent. The population...
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...BANGLADESH TRADE MAINSTREAMING 11 TRADE PERFORMANCE TOTAL VALUE16 Merchandise exports (f.o.b.) and imports (c.i.f.) Merchandise exports (f.o.b.) 2002-05 2006 2007 Trade is fully mainstreamed in the national development plan. TRADE POLICY INDICATORS (2006) Restrictiveness of imports Restrictiveness of exports 0 5% 10% 15% 12 Merchandise imports (c.i.f.) 20% 25% 2002-05 2006 2007 0 USD m 5 000 10 000 15 000 20 000 TRADE PROGRAMME INDICATORS PRIORITY 1: NETWORK INFRASTRUCTURE13 Fixed lines per 100 inhabitants Bangladesh South and Central Asia (avg.) LDC (avg.) 0 1 2 3 4 5 6 7 8 NUMBER OF FIXED LINES Commercial services exports and imports Exports 2007 2002-05 2006 2007 2002-05 Imports 2002-05 2006 2007 0 USD m Mobiles per 100 inhabitants Bangladesh South and Central Asia (avg.) LDC (avg.) NUMBER OF MOBILES 2002-05 2007 500 1 000 1 500 2 000 2 500 3 000 MAIN TRADING PARTNERS17 0 5 10 15 20 25 30 35 40 Exports by main destination (% share of total) 2004 2002 2005 Electricity Power Consumption Bangladesh South and Central Asia (avg.) LDC (avg.) 0 300 600 900 EU US Canada 2004 China India EU 56.1 26.2 4 2006 – – – 2006 – – – 2007 – – – 2007 – – – Imports by main origin (% share of total) 1 200 1 500 KILOWATT-HOURS PER CAPITA PRIORITY 2: COMPETITIVENESS14 Rank current index (out of number 175 exporters) 2005 2006 2007 0 25 50 75 100 125 150 175 13.9 11.2 10 TRADE...
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...BULLETIN CENTRAL BANK OF THE REPUBLIC OF TURKEY Issue: 8 December 2007 GOVERNOR YILMAZ’S PRESENTATION BEFORE THE COUNCIL OF MINISTERS INSIDE: 2 Reserve and Risk Management at the Central Bank of Turkey 3 Publications and News from the Central Bank of Turkey 4 At a Glance In accordance with the Law on the Central Bank of Turkey (CBT) and the principle of accountability, twice a year, the Governor provides the Council of Ministers with information on current economic outlook and the monetary policy actions. In this context, Governor Durmuş Yılmaz made a presentation before the Council of Ministers on 12 November 2007. In the first part of his presentation, Governor Yılmaz pointed out the prerequisites to achieve sustainable growth rate and single-digit nominal interest rates. The Governor gave information about inflation developments, interest rate and the exchange rate policies of the CBT, growth, employment and balance of payments developments in the second part of his presentation. The Governor stated that sustainable growth might only be achieved via establishing macroeconomic stability, continuing structural reforms and enforcing the principles of good governance. 1981 - 1989 1990 - 2001 2002 - 2006 Average Inflation 43.4 % 74.0 % 15.9 % Average Growth 4.8 % 3.0 % 7.5 % The Governor, underlining the necessity of price stability and sustainable public finance for Source : TURKSTAT, CBT macroeconomic...
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...Chapter 2 THE DYNAMIC ENVIRONMENT OF INTERNATIONAL TRADE Copyright © 2012 McGraw-Hill Australia Pty Ltd PPTs t/a International Marketing 2e by Cateora 1 Chapter learning objectives 1. The basis for the reestablishment of world trade following World War II 2. The importance of balance-of-payment figures to a country’s economy 3. The effects of protectionism on world trade 4. The seven types of trade barriers 5. The importance of the GATT and the WTO 6. The emergence of the International Monetary Fund and the World Bank Group Copyright © 2012 McGraw-Hill Australia Pty Ltd PPTs t/a International Marketing 2e by Cateora 2 Australia to play catalyst to break down trade barriers • Barriers to trade, both tariff and nontariff, are one of the major issues confronting international marketers • If the benefits of the social, political, and economic changes now taking place are to be fully realised, free trade must prevail throughout the global marketplace ▪ WTO (World Trade Organization) • Countries are pushing for speedier removal of quotas on textiles and clothing while the WTO examines cuts in agricultural support Copyright © 2012 McGraw-Hill Australia Pty Ltd PPTs t/a International Marketing 2e by Cateora 3 Top ten 2009 Australian trading partners Copyright © 2012 McGraw-Hill Australia Pty Ltd PPTs t/a International Marketing 2e by Cateora 4 The twentieth century • First half of the twentieth century ...
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...International Lending and Financial Crisis By Alicia Jones ECON610, Spring 2012, Session 8 Dr. Fereidoon Shahrokh May 25, 2012 Abstract In this paper we will be discussing the pros and cons of international lending practices and how it affects borrowing countries capital flows and their trading. While some countries go through financial crisis, international lending may be hard to secure due to the fact that there are associated risks. Because of these risks, lenders do not want to lose their money on a country who is struggling and/or in debt. We will also take a look at how the international financial crisis affects industrial countries and developing nations in which they will not be able to obtain financing for future or current projects. There are many reasons why international financing causes crises which one reason is caused by over lending and over borrowing. We will discuss exogenous shocks and exchange rates and how these can affect the entire world and what happens when countries with huge debts negatively affect short term debt financing for foreigners. Keywords: Financial crises, debt, lending practices. Exogenous, risks INTRODUCTION The goal of this paper is to show a broad picture of the differences between how international capital moves through the investing and lending process, through both lenders and borrowers. This depends on whether countries are in a financial crisis or not...
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...As arshad already explainied how the RTA impacted job and wasges of the meixco ppl during dat era it shows that globalization does effect the agricultuy and manufacturing workers 1) Subisidies of corn sector In 2000, U.S. government subsidies to the corn sector totaled $10.1 billion. These subsidies have led to charges of dumping, which jeopardizes Mexican farms and the country's food self-sufficiency. 2) Globalization and employment Nafta did deliver as expected: Exports and foreign direct investment tripled from the early 1990s as Mexico became a leading supplier of cars, electronics and a broad variety of industrial parts to the United States. Productivity in Mexican manufacturing rose 80 percent. But annual economic growth averaged only 1.6 percent per capita between 1992 and 2007 — low even by Mexican standards until the 1980s. American jobs did move south, particularly into the export sector. The growth in services — new supermarkets, banks, tourism — also created jobs. But overall, Mexico was unable to create enough jobs to make up for all the jobs lost because of competition from imports, particularly purchases of subsidized grains from the United States. The oversupply of labor, along with government policies that succeeded in keeping wages low, have led to a slight increase in the gap between average wages in the United States and Mexico — precisely the opposite of what Nafta was expected to do. * Unfair competition among import and domestic market ...
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...Annexure-V- Cover Page for Academic Tasks Course Code: Course Title: | Course Instructor: | Academic Task No.: Academic Task Title: | Date of Allotment: Date of submission: | Student’s Roll no: Student’s Reg. no: | Evaluation Parameters: (Parameters on which student is to be evaluated- To be mentioned by students as specified at the time of assigning the task by the instructor) | Learning Outcomes: (Student to write briefly about learnings obtained from the academic tasks) Declaration: I declare that this Assignment is my individual work. I have not copied it from any other student‟s work or from any other source except where due acknowledgement is made explicitly in the text, nor has any part been written for me by any other person. Student Signature: Evaluator’s comments (For Instructor’s use only) General Observations Suggestions for Improvement Best part of assignment S. No | Name of Student | Registration No | Peer Rating (10) | Signature | | | | | | | | | | | | | | | | Evaluator‟s Signature and Date: Marks Obtained: Max. Marks: ………………………… Subject: Rubrics for written report of ECO310 Category | 5 marks Exemplary | 2-4 marks satisfactory | 1 marks unsatisfactory...
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...Introduction The IMF is an intergovernmental institution established by an international treaty in 1945 to create a framework for international economic cooperation focusing on balance of payment problems and the stability of currencies. IMF headquarters is in Washington D.C, U.S.A History / establishment of IMF: IMF was founded on 27th December, 1945. During the closing years of world war second, different countries realized that there must be a common International Forum for achieving economy cooperation, promoting International Trade and providing help to needy nations during emergency. So IMF was formed for this purpose. World War Second has its adverse effect on global economy. To remedy the situation, an international monetary conference was convened in 1944, at Bretton Woods in America. It was attended by the representatives of 44 countries. It was decided in this Conference to set up IMF for the economic development of all countries. Problems: Three main problems are: ▪ Economic order and piece ▪ Reconstruction of economies ▪ Stable world piece Role: The IMF was intended to play two major roles in the Bretton Woods System: o The fund should discourage aggressive exchange rate behavior by members and help them manage their balance of payments efficiently; o The fund was given resources to lend international reserves to countries with balance of payments difficulties. Purposes/ objectives The purposes...
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...Company Analysis The Walt Disney Company has been in the entertainment business for more than 80 years and is well recognized around the world as one that delivers an exceptional entertainment experience. Walt Disney Company strengths can be grouped in three main categories: 1) diversified distribution channels, 2) strong brand portfolio, and 3) financial strength. Despite Walt Disney’s success, the company has some declining segments in their domestic business. In addition, Disney’s biggest challenge in creating theme parks and resorts abroad is their inability to tailor the attractions to the local market while maintaining Disney’s brand image. In the past, international theme park implementations, Disney had failed to adapt their strategies to the local market. Therefore, Disney’s weaknesses can also be also grouped in three categories: 1) declining segments, 2) difficulty adapting to other cultures, and 3) weak managerial skills in terms of international operations. Diversified Distribution Channels Disney has a strong diversified distribution channel. The company operates by four strategic business units (SBU): 1) Media Networks and Broadcasting, 2) Parks and Resorts, 3) Studio Entertainment, and 4) Disney Consumer Products (Banton, 2007, p.31). The Media Network segment comprises of all broadcast television network, television production and distribution operations, television stations, cable networks, broadcast radio, publishing and digital operations (“Fiscal Year...
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...From: National Accounts at a Glance 2013 Access the complete publication at: http://dx.doi.org/10.1787/na_glance-2013-en National income Please cite this chapter as: OECD (2013), “National income”, in National Accounts at a Glance 2013, OECD Publishing. http://dx.doi.org/10.1787/na_glance-2013-6-en This work is published on the responsibility of the Secretary-General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of the Organisation or of the governments of its member countries. This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. INCOME 4. National income While per capita gross domestic product is the indicator most commonly used to compare income levels, two other measures are preferred, at least in theory, by many analysts. These are per capita Gross National Income (GNI) and Net National Income (NNI). an imputation, and, since there is no actual transaction, it is necessary to impute an outflow of the same amount. The imputed outflow is treated as a financial transaction (a reinvestment of earnings abroad) and not as an outflow of property income. Countries with large stocks of outward foreign direct investment may be shown as having large receipts of property income from abroad and therefore high GNI even though much...
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...Introduction Following its independence in 1945, the Indonesia economy deteriorated drastically as a result of political instability, a young inexperienced government, and ill-disciplined economic nationalism. However, the New Order administration in the 1960s, brought about a new degree of discipline to economic policy that quickly brought inflation down, managed foreign debt, but more importantly, attracted foreign investment through financial liberalization. As massive inflows of foreign investment poured into the country, problems soon arose with regulation and oversight. These structural weaknesses created instability and ultimately multiplied the effects of the Asian Financial Crisis in 1997. With strong encouragement of the IMF, Indonesia adopted a set of policies to protect currency values and penalize insolvent companies, in order to restore investor and creditor confidence in the country. Despite assistance from the International Monetary Fund, the Crisis devastated the Indonesian economy and brought on massive social unrest. This paper consists of six parts. We intend to analyze pre, during, and post-crisis trends utilizing such macroeconomic models as the Mundell-Fleming model, the IS-LM model, and the open economy model for calculating exchange rates. First we provide a brief overview of the Asian Financial Crisis. The second part of the paper analyzes why the crisis happened; moreover, what policies lead to the crisis. Third, we provide an in depth...
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...Study Material PDF 2015 List of Committees & Organization Reports(Jan – Nov) Committee Name Report Title Committee Head Shantha Kumar Panel Law Commission of India Law Commission of India Non-governmental organizations Controller-General of Patents, Designs and Trademarks (CGPDTM) Brand Finance Report on FCI restructuring Report on electoral reforms Report on Death Penalty Lion Census report 2015 Shanta Kumar Justice DK Jain Justice DK Jain Shri Ashok Gajapathi Raju and Dr. Mahesh Sharma Indian Civil Aviation: At the Cusp of Taking off Forbes Annual list of the richest Indians Monitoring of Pesticide Residues Report on Delhi MLA’s salary package TechSci Research Report Report on Bankruptcy Law Reforms Top Secret Doping: How Russia makes its Winners” To suggest reforms to the Joint Entrance Examination (JEE). Report dealt with shell companies and beneficial ownership. Report on Innovation submitted its report recommending private funding for R&D Report on illegal migrants from Bangladesh Union Ministry of Agriculture Achary Panel ASSOCHAM Dr T K Viswanathan Committee Independent commission (IC) Committee of Eminent Persons on JEE Justice MB Shah-headed SIT on Black Money NITI Aayog panel Upamanyu Hazarika Commission Annual report on Patent filing in India Most valuable brand in India 100 Report Follow Us - FB.com/AffairsCloudOfficialPage PDT Achary Dr T K Viswanathan Richard W...
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...Humanitarian intervention is a label that has been employed to describe economic to military intervention. The main types of intervention include military, diplomatic, developmental and economic sanction. Mill’s (1859) stated that "There seems to be no little need that the whole doctrine of non-interference with foreign nations should be reconsidered, if it can be said to have as yet been considered as a really moral question at all... To go to war for an idea, if the war is aggressive, not defensive, is as criminal as to go to war for territory or revenue; for it is as little justifiable to force our ideas on other people, as to compel them to submit to our will in any other respect”. This essay will demonstrate how humanitarian intervention efforts are not reaching the goals that are needed to properly aid the disadvantaged nations in developing nations. Economic humanitarian intervention emerged at the end of the Second World War. Historically, it is apparent that foreign aid was used explicitly to prevent the expansion of communism during the Cold War, and not solely to help those in need. It can be argued that humanitarian intervention has done more harm than good to the nations. Northern/ Western countries have enriched themselves from their unequal relation with Southern either under colonialism or under the trading system, which has the Southern nations paying more towards their ongoing debt and receiving an irrelevant amount of foreign aid to help assist these nations...
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