...value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap. Bangladesh Balance of Trade Bangladesh recorded a trade deficit of 977 USD Million in November of 2012. Balance of Trade in Bangladesh is reported by the Bangladesh Bank.Bangladesh Balance of Trade averaged -1209.67 USD Million reaching an all time high of -56.40 USD Million in August of 2009 and a record low of -5370.60 USD Million in June of 2008. Bangladesh exports mainly ready made garments including knit wear and hosiery (75% of exports revenue). Others include: Shrimps, jute goods (including Carpet), leather goods and tea. Bangladesh main exports partners are United States (23% of total), Germany, United Kingdom, France, Japan and India. Bangladesh imports mostly petroleum product and oil, machinery and parts, soyabean and palm oil, raw cotton, iron and steel and wheat. Bangladesh main imports partners are China (17% of total), India, Indonesia, Singapore and Japan. Along with the growth in exports, the import payments of Bangladesh also showed continuous increase. Export receipts as percent of GDP increased, amidst fluctuations, from 4.0 in 1974-75 to 6.9 in 1984-85, and further to 13.3 in 1994-95. Import payments as percent of the GDP, on the other hand, increased sharply from 8.0 in 1974-75 to 19.7 in 1984-85, and further to 22.6 in 1994-95. Balance of payments Balance of payments (BoP) accounts are an accounting record of all monetary transactions...
Words: 847 - Pages: 4
...much faster than the average, and will soon be poised to be major players in the world’s economy. Those countries are referred to as BRIC, which stands for Brazil, Russia, India, and China. There is much debate as to which will emerge on top as the dominant world force; however investors are starting to make their predictions clear. Every day, investors are pumping money into the Brazilian economy for a myriad of reasons. But before one can understand those reasons, it is essential to understand Brazil’s background. Part I: Country Background Brazil was originally colonized by Portugal during the early 1500’s. This is evident today, as the official language of Brazil is Portuguese. It is estimated to be approximately 8,514,877 square kilometers, and have a population of 199,321,413, making it the largest country in South America, and the fifth largest in the world in terms of both area and population. (https://international.ipums.org/international/enum_materials.shtml) The political system used is a Federal Republic, and the Head of State is Dilma Rousseff. (https://www.cia.gov/library/publications/the-world-factbook/geos/br.html) While there are several political parties in Brazil, none of them are technically in power. The strongest of the group though is the Worker’s Party. The current type of law practiced is Portuguese Civil Law, similar to that practiced in Louisiana and France. Brazil is primarily a capitalistic country, with the GNI being approximately $2.26 trillion...
Words: 1642 - Pages: 7
...Grand Duchy of Luxembourg, is 83 km long and 57 km wide, which are 2586 square meter in size. The northern part of Luxembourg is called the “ösling” and the southern part is called “Gutland, where more than two third of the population is living. Luxembourgish population is growing, and referring to the Statec the latest estimation of the inhabitants are 561 927. More than 40% of the inhabitants are foreigner coming from all over the world, but mostly from catholic southern European Countries such as Portugal or France. Portuguese nationals is the largest community with 16,4% , followed by the French which represent 7%. Italian, Begian, Germans represent...
Words: 1176 - Pages: 5
...Current Financial Crisis: a review of some of the consequences, policy actions and recent trends1 By Sameer Khatiwada and Emily McGirr, International Institute for Labour Studies2 What is happening? On the heels of the near bankruptcy of a major insurance company and the effective end of all major US investment banks, financial markets around the world sustained severe losses in the first two weeks of October, 2008, accelerating the downward trend that started at the beginning of the year. As a consequence, from New York to Moscow, and London to Sao Paulo, equity prices have fallen sharply – with the major stock indices of the G7 and BRICs losing nearly half of their value since the beginning of the year. This has seriously damaged banks’ balance sheets and restricted their lending capacity. With the cost of short-term credit rising dramatically and liquidity drying up, these events have been dubbed the worst financial meltdown since the Great Depression in 1930s. More importantly, the shock waves from the US financial market have spread throughout the globe, with many countries on the brink of recession (see Figure 1, Appendix). How did a “house fire” in America turn into a global banking crisis? Sub-prime mortgages are a financial innovation designed to provide home ownership opportunities to borrowers in the U.S. with a higher risk profile (such as borrowers with low incomes, bad credit histories or limited disposable income). Most of the sub-prime ...
Words: 4382 - Pages: 18
...An Essay on Economic Theory An English translation of Richard Cantillon’s Essai sur la Nature du Commerce en Général An Essay on Economic Theory An English translation of Richard Cantillon’s Essai sur la Nature du Commerce en Général Translated by Chantal Saucier Edited by Mark Thornton 4 An Essay on Economic Theory © 2010 by the Ludwig von Mises Institute and published under the Creative Commons Attribution License 3.0. http://creativecommons.org/licenses/by/3.0/ Ludwig von Mises Institute 518 West Magnolia Avenue Auburn, Alabama 36832 mises.org ISBN: 978-1-61016-001-8 Foreword Robert F. Hébert Following a century of neglect, William Stanley Jevons, in the first blush of discovery, proclaimed Cantillon’s Essai, “the cradle of political economy.” Subsequent growth and development of economic thought has not really alerted us to the subtleties of this succinct appraisal. A cradle holds new life; and there can be little doubt that the Essai added new life to the organizing principles of economics. But “political economy” does not accurately describe the subject Cantillon addressed. Indeed, he scrupulously avoided political issues in order to concentrate on the mechanics of eighteenth-century economic life. When confronted by “extraneous” factors, such as politics, Cantillon insisted that such considerations be put aside, “so as not to complicate our subject,” he said, thus invoking a kind of ceteris paribus assumption before...
Words: 66839 - Pages: 268
...THE UNITED STATES The U.S. had emerged as the world's wealthiest and most powerful country- untouched from the horrific destruction of World War 2. The dollar was the strongest currency and foreigners flocked to invest in American companies and to buy U.S. government bonds. They played a leading economic role, as other nations needed American goods and services; transforming life in the United States itself. Many Americans prospered in the world's wealthiest economy, although some segments of the population were left to struggle. As Americans became more affluent, many moved from the cities to the suburbs and also to the states in the Southern and Southwestern parts of the country- where jobs were becoming more plentiful than in the industrialized Northern states. The vast popularity of American culture abroad confirmed the global influence of the U.S., as the world embraced their various art forms. Elvis Presley, musical comedies, Hollywood romances, and action movies were recognized worldwide. The federal government also contributed to this boom, as the congress created programs that helped the veterans, the elderly, and the poor; as well as approving government funding to build a major interstate highway system. After World War 2, conflicting ideologies and mutual distrust caused divisions between the former Allies, leading to the conflict known as the Cold War- a state of tension and hostility between nations aligned with the United States on one side and the Soviet Union...
Words: 2327 - Pages: 10
...Bachelor Thesis for the discipline European Studies: The effects of the Bosman-case on the professional football leagues with special regard to the top-five leagues Bachelor Thesis Supervisor: Prof. Dr. Ramses A. Wessel Co-Reader: Dr. Tsjalle van der Burg Word count (Text only): 25686 Daniel Schmidt Helbecker Weg 30 58769 Nachrodt Germany daniel18schmidt@web.de Student number: s0146773 12.07.2007 1 Table of Contents: I List of Abbreviations…………………………………….………………….………………6 1.Introduction………...…………………………………………..…………….…..…………7 2. EU Sport politics and Sport Law……………………………………………...…...……9 2.1 Council of Ministers and Sport …………………………………….…,……10 2.2 The ECJ…………………………………………………………………....…….11 2.3 Walrave and Koch………………………………………………………….…..11 2.4 The Dona Case…………………………………………………..…………..….12 2.5 The legal situation for sport before the Bosman case……………..…...13 3.The Bosman Case………………………………………………………………….……..14 3.1 Transfer rules before Bosman…………………………………………….... 14 3.2 Jean-Marc Bosman………………………………………...………….……….15 3.3 The basic of the judgement ………...………………………………….…….16 3.4 Reactions of officials……………..………………………………….………..19 2 3.5 Ideas and outlooks of scholars for the future after the judgement…...20 3.6 Immediate results of the Bosman case……………..…………………...…21 4. Cases after Bosman…………………….…………………………………...…….…….22 4.1 The Lehtonen Case…………………………….……………………….……...23 4.2 Kolpak Case…………………………………………………………….……….24 ...
Words: 36127 - Pages: 145
...Indonesian Strategy on the South China Sea By Ferry Akbar PASARIBU/SESPARLU Batch 54 Indonesia never had any overlapping claim on the South China Sea, even though one of its chains of Islands, namely Natuna Island, is located at its southern end. The 1957 Juanda Declaration stipulated that Indonesia as an archipelagic country, and accordingly Natuna Island had been declared as its baseline. The last administration had even registered it at the United Nations in 2009 without receiving any dissenting opinions by any countries. During the Soeharto administration, Indonesia had made it clear on its official map that it had 200 nautical mile Exclusive Economic Zone (EEZ) drawn from its outmost chains of Islands, including Natuna Island. Therefore, the Minister of Foreign Affairs of the time, especially during the period of Professor Mochtar Kusumaatmadja in the office in the 1980s, had been working around the clock to ensure that Indonesian position was accepted by the region and beyond. Even China’s Minister of Foreign Affairs, Mr Qian Qichen later in 1995 had agreed with his counterpart the Minister of Foreign Affairs of Indonesia at the time, Mr Ali Alatas that both countries did not have any overlapping claim over Natuna Island and its surrounding areas. In the period of 1990 – 2000, China conducted the so-called soft diplomacy with regard to the issue of South China Sea. It apparently worked hard to win the confidence of ASEAN, especially of some of its members that...
Words: 1965 - Pages: 8
...The return of financial repression CARMEN M. REINHART* Professor Peterson Institute for International Economics Periods of high indebtedness have historically been associated with a rising incidence of default or restructuring of public and private debts. Sometimes the debt restructuring is more subtle and takes the form of “financial repression”. Consistent negative real interest rates are equivalent to a tax on bond holders and, more generally, savers. In the heavily regulated financial markets of the Bretton Woods system, a variety of financial domestic and international restrictions facilitated a sharp and rapid reduction or “liquidation” of public debt from the late 1940s to the 1970s. The restrictions or regulatory measures of that era had their origins in what would now come under the heading of “macroprudential” concerns in the wake of the severe banking crises that swept many countries in the early 1930s. The surge in public debts that followed during the Great Depression and through World War II only made the case for stable and low interest rates and directed credit more compelling to policymakers. The resurgence of financial repression in the wake of the 2007-2009 financial crises alongside the surge in public debts in advanced economies is documented here. This process of financial “de-globalisation” may have only just begun. * Research associate at the National Bureau of Economic Research, Research Fellow at the Centre for Economic Policy Research. ...
Words: 8120 - Pages: 33
...and labour rules/requirements that regulate businesses in Pakistan. However, if we have achieved our goal, contributing, by this way, to business development in Pakistan, we will be very satisfied. The booklet is designed to give some general information to those contemplating doing business in Pakistan, and is not intended to be a comprehensive document. Furthermore, its updating process is annual. Therefore, the users should consult us before taking any decision on the basis of information contains in this booklet. TABLE OF CONTENT FOREWORD 1 ABOUT HLB INTERNATIONAL 2 1. ISLAMIC REPUBLIC OF PAKISTAN 3 1.1 LOCATION 3 1.2 POPULATION DEMOGRAPHICS 3 1.3 INTERNATIONAL TIME 4 1.4 CLIMATE 4 1.5 LANGUAGE 4 1.6 CURRENCY 4 1.7 THE CONSTITUTION AND LEGAL SYSTEM 5 1.8 HIGHLIGHTS OF THE ECONOMY 5 1.9 ECONOMIC ARRANGEMNETS 7 1.9.1 List of Countries/Organizations with which Pakistan has Bilateral Investment Agreements 7 1.9.2 Pakistan and the Non-Aligned Movement (N.A.M.) 8 1.9.3 Pakistan and the Economic Co-operation Organization (ECO) 8 1.9.4 Pakistan and the D-8 9 1.9.5 Pakistan and the South Asian Association for Regional Cooperation (SAARC) 9 2. INVESTMENT FACTORS 10 2.1 FIVE REASONS TO INVEST IN PAKISTAN (AMONG MANY OTHERS!!) 10 2.2 INVESTMENT OPPORTUNIITEIS 11 2.3 TAX BENEFITS 12 2.4 SOURCES OF FINANCE 13 2.4.1 Banks 13 2.4.2 Non Banking Finance Companies (NBFCs) 13 2.4.3 Public offers through stock exchanges 14 2.5...
Words: 9182 - Pages: 37
...EXORBITANT PRIVILEGE EXORBITANT PRIVILEGE The Rise and Fall of the Dollar and the Future of the International Monetary System Barry Eichengreen Oxford University Press, Inc., publishes works that further Oxford University’s objective of excellence in research, scholarship, and education. Oxford New York Auckland Cape Town Dar es Salaam Hong Kong Karachi Kuala Lumpur Madrid Melbourne Mexico City Nairobi New Delhi Shanghai Taipei Toronto With offices in Argentina Austria Brazil Chile Czech Republic France Greece Guatemala Hungary Italy Japan Poland Portugal Singapore South Korea Switzerland Thailand Turkey Ukraine Vietnam Copyright © 2011 by Barry Eichengreen Published by Oxford University Press, Inc. 198 Madison Avenue, New York, NY 10016 www.oup.com 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. Library of Congress Cataloging-in-Publication Data Eichengreen, Barry J. Exorbitant privilege : The Rise and Fall of the Dollar and the Future of the International Monetary System / Barry Eichengreen. p. cm. Includes bibliographical references and index. ISBN 978-0-19-975378-9 1. Money—United States—History—20th century. 2. Devaluation of currency—United States—History—21st century. 3. United States—Economic...
Words: 81879 - Pages: 328
... Swiss and Chinese situation. POPADIC Jovan, Information Systems Lausanne, academic year 2015 1. Introduction Entrepreneurship has been a widely addressed topic in the 20th century and many renowned economists have studied the subject. Schumpeter, who might be the most famous, links entrepreneurship to innovation and emphasizes on the importance of the entrepreneur in the economic development. Like Schumpeter, Clark (1899), Higgins (1959) or Leibenstein (1978) have studied the role of the entrepreneur in the society and see it as someone who identifies business opportunities and creates companies more than somebody taking risks. In 1921, Knight showed that the entrepreneur is effectively endorsing risk because...
Words: 3921 - Pages: 16
...GLOBALIZATION AND IT EFFECTS ON CULTURAL INTEGRATION: THE CASE OF THE CZECH REPUBLIC. INTRODUCTION I. AN OVERVIEW. With the growing standards of the world and the existing concepts and complexities in political, economic and socio-cultural ideologies, man has always and continuously pondered over the aspects of his nature. Unity, equality, trade and commerce are at the forefront of man's complexities. With these thoughts in mind, man has moved through history trying to satisfy his desires in relation to others. The advent of the twenty-first century gave birth to the idea of making the world a single village, thus, globalization. Globalization is the most talk-about issues in the 21st century. However, there is the difficulty of the world to come up with a single and uniform definition. This is because, so many people doubt if the happenings in the world today are as a result of globalization. Thus, due to these global differences of what this concept actually is about, globalization has grown to involve aspects not only of economy, but politics and other socio-cultural issues. Globalization affects almost every human being, this is because the process of globalization is said to have expanded almost through out the entire world either through transport, commerce, and communication. In addition, man’s activities on the globe are all located under these sectors. Culture, as a way of living of man, is identified by every one immediately after birth and was often...
Words: 27217 - Pages: 109
...International Journal of Intercultural Relations 35 (2011) 49–60 Contents lists available at ScienceDirect International Journal of Intercultural Relations journal homepage: www.elsevier.com/locate/ijintrel Cultural distance and expatriate job satisfaction Fabian Jintae Froese a,∗ , Vesa Peltokorpi b,1 a b Korea University Business School, Anam-dong, Seongbuk-Gu, Seoul, 136-701, Republic of Korea HEC School of Management, Paris, 78351 Jouy en Josas, France a r t i c l e i n f o a b s t r a c t Despite its strong impact in domestic settings on job performance, organizational commitment, stress, and turnover intentions, job satisfaction has received little attention in the literature on expatriates. This paper analyzes the predictors of job satisfaction that may arise in an expatriate context. Drawing on the cultural distance perspective, we propose that the national cultural distance, supervisor’s nationality, host-country language proficiency, expatriate type, and company nationality are important determinants of expatriate job satisfaction. Survey results from 148 expatriates in Japan demonstrate that national cultural distance, supervisor’s nationality, and expatriate type have a statistically significant influence on expatriate job satisfaction. Theoretical and practical implications are provided. © 2010 Elsevier Ltd. All rights reserved. Article history: Accepted 25 October 2010 Keywords: Expatriates Job satisfaction Cultural distance Japan In an...
Words: 6050 - Pages: 25
...French Economy General Overview: The French economy is the fifth largest in the world and accounts for about a fifth of euro area GDP. France weathered the global crisis better than most advanced economies. This is explained by the economy being less open than e.g. Germany, a fairly solid financial sector, a large public sector and substantial fiscal stimulus. Exports amount to about 20% of GDP – about half of the euro area average – while government expenditures amount to about 55% of GDP. The government budget deficit as a share of GDP is higher than the euro area average and the debt-to-GDP ratio is only marginally below the euro area average. During the summer France announced austerity measures, aimed at ensuring fiscal sustainability. Significant reforms and privatizations have taken place in the past decades, but the government continues to own shares in corporations in a range of sectors. Key export markets are located in Europe, with Germany, Italy and Spain being the most important ones. About one third of all exports are going to economies outside Europe. The share of exports to Asia is small, but gradually increasing. Tourism is important (France is the most visited country in the world). France runs a current account deficit and has a large foreign debt. France is the leading agricultural producer and exporter in Europe. Nevertheless agriculture accounts for less than 4% of employment and 2% of GDP. The unemployment rate, which peaked in January 2010, is below the...
Words: 4917 - Pages: 20
