...year plans. Both of these new economic plans were designed to boost Russia’s agriculture and industrialization within a short period of time, to catch up with the world leading powers, which were essentially Britain and the United States at the time. Stalin strongly believed that it was necessary to go to any lengths, which would soon include killing off thousands of peasants, to reverse the backwards economy of the time, to eventually overtake that of other countries. As the economy of Russia at the time, was in quite a terrible state. He believed he could do this by heavily focusing on agriculture and industry, to prepare Russia for a new age. Stalin’s new economic policies would soon prove to be a mix of successes and failures for both the economy and the people of Russia, each to different extents. Stalin’s first economic policy of the 1930’s was collectivization. This was the joining of private plots which had been previously divided amongst the peasants by the Tsar, in order to increase the amount of output production altogether. Although this might have seemed like a good idea to Stalin at the time, this economic policy proved to have more failures than successes. The collectivization of grain meant that the state was now in charge of how much you produce, how much it can be sold for, and how much of it you are actually allowed to keep to feed yourself. Although the image of collectivization was meant to eventually help the peasant population of Russia, behind...
Words: 1271 - Pages: 6
...The Brics’ role in the global economy Paulo Roberto de Almeida In: Cebri-Icone-British Embassy in Brasília: Trade and International Negotiations for Journalists (Rio de Janeiro, 2009, p. 146-154; ISBN: 978-85-89534-05-5). ∗ 1. Where do they come from and what are the Brics? In demographic terms, BRIC holds the world’s two most populated countries and another two with considerable populations. China alone holds a fifth of the world’s population, and is closely followed by India (17.5%) and, by a larger gap Brazil (2.9%) and Russia (2.2%). Despite their large territories – Russia’s 17 million km2, India’s 3.2 million km2, China’s 9.3 million km2 and Brazil’s 8.5 million km2 –, the Brics differ from each other in terms of natural resources, level of industrialization and impact on the global economy. It is important to point out these differences, as definition as a bloc might lead to wrongful assumptions about the four countries’ individual current and future roles in the global economy. In order to be accurate about each country’s actual weight in the world, we should perhaps change the acronym to CIRB (but without the glamour of the name). Let us begin with China, which is the most continuous civilization in history – not strictly in terms of political linearity but rather in terms of cultural continuity. The country has a tragic contemporary history, marked by economic decadence, political instability, military humiliation and social regression caused by a deep degradation...
Words: 3849 - Pages: 16
...Karachi school for business and leadership | Financial Institutions (Banks) & Industrial Development in Germany, Russia & India | Global and South Asian Business Development | Dr. Imran Ali | | 3/24/2014 | Salik Chaturbhai M2130024 Taimour Abdullah M2130017 Zeeshan Jessani M2130034 Salik Chaturbhai M2130024 Taimour Abdullah M2130017 Zeeshan Jessani M2130034 Contents Introduction 2 Review of Literature 3 Looking at the Past: Industrialization and Financial Institutions 8 Germany 8 Deutsche Bank, Germany 10 Russia 13 Sberbank, Russia 16 India 17 The State Bank of India 18 Major Themes: Comparison & Contrast 24 The debate between Capitalist and Communist Industrialization 25 Fiscal and Industrialization policy 27 Mission Statement and goals 30 The Banking Sector 31 Target Markets 32 Colonized Industrialization or De-industrialization 34 Conclusion 37 Appendix 1 39 Appendix 2 40 Work Cited 42 Introduction Mankind as a whole and the world as has been observed in the past has undergone much change in all aspects of human life. The concept of economic development in light of increasing industrial growth, free labour, the growth of private property as an institution and the development of the international trade as a concept have changed the way humans and hence nations interact and intervene in the world economic system. These gradual yet drastic changes in the structure of human interactions led to a wave...
Words: 12530 - Pages: 51
...General consensus is that the term was first prominently used in a thesis of the Goldman Sachs investment bank. The main point of this 2003 paper was to argue that the economies of the BRICs are rapidly developing and by the year 2050 will eclipse most of the current richest countries of the world. Goldman Sachs argues that the economic potential of Brazil, Russia, India, and China is such that they may become among the four most dominant economies by the year 2050. The thesis was proposed by Jim O'Neill, global economist at Goldman Sachs. These countries are forecast to encompass over thirty-nine percent of the world's population. Goldman Sachs predicts China and India, respectively, to be the dominant global suppliers of manufactured goods and services while Brazil and Russia would become similarly dominant as suppliers of raw materials. Cooperation is thus hypothesized to be a logical next step among the BRICs because Brazil and Russia together form the logical commodity suppliers to India and China. Thus, the BRICs have the potential to form a powerful economic bloc to the exclusion of the modern-day G8 status. Brazil is dominant in soy and iron ore while Russia has enormous supplies of oil and natural gas. Goldman Sachs' thesis thus documents how commodities, work, technology, and companies have diffused outward from the United States across the world. The Brics’ role in the global economy 1. Where do they come from and what are the Brics? In demographic terms...
Words: 4264 - Pages: 18
...Battle of the Ideas: A review of economic concepts ECON-101 Amara Henderson-Graham Grandview University Professor David W. Hannum October 9th, 2012 Commanding Heights: Battle of Ideas The neoclassical counterrevolution was a response to the interventionist dependence revolution of the 1970’s which has diagnosed the problem of underdevelopment to be due to the predatory behavior of the developed world. The neoliberal school of thought redefined underdevelopment instead to be a result of poor allocation of resources brought about by the distortionary price controls and regulations used as tools of state intervention. It posited that too much state involvement in the economy is at the root of slow economic growth. The fundamental assumption in this perspective is that an unregulated market performs better than one with government regulation. It is convinced that although markets also run the risk of failing; market failure is much less costly than government failure. Where the dependency theorists advocated the reform in the international economic system, the counterrevolution thinkers insist that the speedy solution is the promotion of free markets that are supported by permissive governments that allow the market to perform its self-regulating functions. The prescription of the neoliberals to stimulate economic growth include not only the promotion of competitive free markets but also the privatization of state-owned enterprises, the promotion of free...
Words: 749 - Pages: 3
...period 1801-1917, to what extent was the fall of Tsarism a consequence of significant social development in Russian society? Tsar Nicholas II’s abdication on 2nd March 1917 marked the end of Tsarism’s iron grip on Russia and the subsequent revolution was the clearest possible sign of political and social upheaval. Finally, its people had tired of their nation’s own backwardness and were looking for improvements to an archaic system which they had endured for hundreds of years. Seldom does a revolution succeed without violence being an integral part of its development, and the Russian revolution was no exception. However, there are economic and political factors that helped contribute to the outbreak of this civil disobedience, which must be considered. Underpinning these issues is the stark difference in the social dynamics of Russia between the early 19th century and the early 20th century. The social dichotomy that had presented itself was one that no other European power had experienced. Russia was the only European super-power to still employ serfdom by the time of its termination, for its roots had been deeply embedded in Russian culture. Historian Jonathon Bromley believes the longevity of serfdom was because it “served the economic interests of the nobility and the political interests of the Tsarist state.” This implies that the economic policy and political foundations of the country were predicated on its social structure; therefore social stability was pivotal in preserving...
Words: 5215 - Pages: 21
...CHAPTER 4: Quick Study 1 1. Q: Define economic system. What is the relation between culture and economics? A: An economic system consists of the structure and processes that a country uses to allocate its resources and conduct its commercial activities. A nation’s economy tends to express individual or group values as reflected in its history and culture. However, no economy is focused entirely on the group at the expense of individuals or vice versa. 2. Q: What is a centrally planned economy? Describe the link between central planning and communism. A: A centrally planned economy is one in which a nation’s government owns most of the land, factories, and other economic resources and plans nearly all economic activity. Karl Marx popularized the idea of central economic planning in the nineteenth century while promoting his belief in communism. Marx argued that market economies cannot be reformed—governments must be overthrown and economies replaced with more equitable “communist” systems. 3. Q: Identify several factors that contributed to the decline of centrally planned economies. A: Factors included: (1) failure to create economic value, (2) failure to provide incentives, (3) failure to achieve rapid growth, and (4) failure to satisfy customer needs. 4. Q: Describe China’s experience with central planning, and the challenges it faces. A: China always reserved a place for private initiative even in the early days of its implementation of communism in 1949...
Words: 4186 - Pages: 17
...Cross Cultural Implications for doing Business in Emerging Markets International business is the act of investment and trade activities by firms across national borders. Small, Medium, and Multinational companies who have the resources tend to be attracted at doing business abroad. There are nine reasons why firms choose to internationalize which are (1) to gain market share, (2) earn higher profits and margins, (3) acquire new ideas about products, service, and business method, (4) to follow and better serve key customers that have relocated abroad, (5) to be closer to their supply chain, (6) have access to lower-cost or better value factors of production, (7) to develop economies of scale in production, sourcing, research and development, and marketing, (8) to challenge international competitors more effectively, (9) invest in a potentially rewarding relationship with a foreign partner. There are different ways companies can engage in international business. Companies can be involved in international trade, exporting, importing, international investment, international portfolio investment, and foreign direct investment. Depending on the type of risk the company decides to take, for example if the company wants the lowest risk possible for doing business abroad then exporting would be one of the safest ways to get their products or service abroad. Foreign Direct Investment is considered high risk due to the structure of each country’s culture, government, laws, rules...
Words: 3846 - Pages: 16
...and warfare have changed significantly. Each revolution changed not only how war and warfare was conducted but had a remarkable impact on the character of war itself. Both of the Atlantic Revolutions and the Industrial Revolutions shaped warfare by instigating the implementation of a sense of nationalism, advanced technology, and tactics. The Napoleonic Wars, American Civil War, and the Crimean War are very good examples of how the Atlantic Revolutions and the Industrial revolutions influenced wars and warfare. Nationalism, an emerging movement, became increasingly noteworthy throughout the Napoleonic Wars, which was derived from the Atlantic Revolutions. The industrialization period prominently impacted on the American Civil War by bringing about vast improvements in technology and transportation, which deemed to have a profound effect on the social, economic and cultural conditions of the time. Enhanced technology and the evolution from pre modern warfare tactics are evident in Russia’s defeat by the British in the Crimean War. This again shows a direct correlation on how each revolution had a significant impact on how warfare is conducted. Throughout the Napoleonic period there was an immense surge in the numbers that armies were yielding. The growth in armies is parallel to the sense of nationalism and patriotism that was flooding through society. This explosion of recruits was due to idealistic propaganda but also the inevitable product of war psychology that arises in...
Words: 1562 - Pages: 7
...fears were instilled into any non-Muslim and helped the western world to find new trade. The rise of Christianity in the western world provided new ways to preserve the dead and ended the need for frankensence, the main export of the Ottoman Empire. This was a blow to their economy and their inability to change their polocies and find new trade left them behind economically which aided in the fall of the Ottoman Empire. Crusades in Turkey which began in 1097 with the Byzantine Empire and the Seljuks lasted for many years (Pitman III). The Western crusaders took the side of the Byzantine Empire and assured defeats (Pitman III). However these winning streaks would not last for the Byzantine Empire. In the 1140’s Turks revolted and caused great damage to the Byzantine Empire (Pitman III). The French and Italian allies had to step in (Pitman III). Count Baldwin was named as emperor of the Latin Empire by the crusaders in 1204 (Pitman III). In 1261 the Latin Empire was on the run from Michael Palaologus who reinstated the Byzantine Empire as a Balkin state, however the empire was much smaller and weaker (Pitman III). From the ruins of these wars the Ottoman Empire emerged (Pitman III). The Ottoman Empire was one of the few who made a successful transition to the use of gun powder giving them the advantage over their enemies (Goldschmidt Jr., and Davidson 121, 122)....
Words: 2094 - Pages: 9
...that, for many years, the United States was the only nation that was willing to absorb production surpluses exported by companies in Europe, Asia, and Latin America. Greider asked: “Who will buy the surpluses when the United States cannot?” The conventional wisdom has long held that strong spending by consumers in other nations would keep the world economy humming. However, by 2008, Greider’s question was taking on a new urgency and the conventional wisdom was being tested. An economic crisis that had its roots in lax subprime mortgage lending practices began to spread around the globe. In the United States, where the crisis began, economic misery was widespread: The housing market collapsed, real estate values plummeted, credit tightened, and job growth slowed (see Exhibit 2-1). As the price of oil passed the $100 per barrel benchmark, the average price of a gallon of gasoline rose to $4. American consumers were, indeed, less willing and less able to buy. However, the crisis was not confined to the United States alone. Consumer-goods exporters in Asia, which Exhibit 2-1: The bursting of the global real estate bubble was only one aspect of the worst recession in decades. The ripple effects from the economic turmoil were felt around the world. In 2007, just before the onset of the crisis, Mexico’s Cemex SAB acquired an Australian company, Rinker Materials, for $15.3 billion. Unfortunately, one of Rinker’s primary sources of revenue was the United States housing market. With...
Words: 24814 - Pages: 100
...Causes and Origins of the Collapse of the Former Soviet Union An Honors Research Thesis Presented in Partial Fulfillment of the Requirements for Graduation ―with Honors Research Distinction in Russian Economic Studies‖ in the Undergraduate Colleges of the Ohio State University by Erik Lauritzen The Ohio State University June 2011 Project Advisors: Professor Jason Blevins, Department of Economics Professor Jennifer Suchland, Department of Russian Table of Contents Abstract.................................................................................................................................................... 3 Introduction ............................................................................................................................................ 3 1. Macroeconomic Planning in the Soviet Union ................................................................. 5 1.1 The Early Policies of Period One ................................................................................................... 5 1.1.1 War Communism .......................................................................................................................... 5 1.1.2 The New Economic Policy (NEP) ............................................................................................... 9 1.1.3 Democratic Centralism ............................................................................................................... 11 1.2 The Significance of Economic...
Words: 15222 - Pages: 61
...Scandinavian and Slavic origin and settled in that region out of ± 800 AD Byzantine Empire A major legacy of the Byzantine Empire for the Russians was the eastern orthodox or Greek Orthodox Church With the decline of Byzantium came a wave of conquest from the East, the Mongols until the 15th century (Tatars). To a large extent, the Mongols allowed Russians to maintain their way of life: - Slavic based languages including writing system (Cyrillic) - Orthodox religion The Russians adopted much from Asian culture and this led western Europeans to think less of the Russians Geographically Russia was isolated from the rest of Europe: - Entirely land locked (mostly) - Huge Plains of Eastern Europe prevented overland travel During these early years there were a series of muscovite princes based in Moscow and called themselves Tsars. By the 17th century the Romanov family became the ruling dynasty: - Alexander I (1801-1825) - Nicholas I (1825-1855) - Alexander II (1855-1881) - Alexander III (1881-1894) - Nicholas II (1894-1917) Under the rule of Peter the Great (1689-1728) Russia grew greatly in size and entered the European World www.ibscrewed.org The Russia of 1800 was one of the greatest autocracies in Europe where: - The Tsar’s rule was absolute - There was a small, but powerful landowning elite - The vast majority of the population existed in a state called serfdom Serfdom: refers to the legal...
Words: 32400 - Pages: 130
...Abstract SiemensAG - a major international corporation , an independent company working in the field of electrical engineering, electronics , power equipment, transport engineering, medical equipment and lighting , as well as specialized services in various fields of industry, transport and communications. Headquartered in Berlin and Munich (Germany) . Basically, the company most widely represented in three sectors : industry, energy and healthcare sectors . The company's shares are included in the calculation base of the following stock indices : DAX, S & P Global 100 , Dow Jones EuroStoxx 50 , Dow Jones Stoxx 50 , Dow Jones Global Titans 50 . The company has a decentralized structure : the responsibility for work in the world market rests with the 14 departments . In various countries, commercial purpose departments implement regional representation. Siemens is known worldwide , not only as a reliable manufacturer and innovator in many areas of industry. For nearly 160 years, Siemens has sought to use the most innovative materials and technologies , bringing a great contribution to the development of world progress , coming up with new technologies and devices . Us she is more known for its quality line appliances - from irons to refrigerators , and in industry it is famous for lighting systems , electronic systems, air-conditioning and ventilation installation , etc. Today by Siemens is one of the largest electrical and electronic companies in the world . The company employs...
Words: 7610 - Pages: 31
...Day 1 Day 1 There is a tiny flame flickering in the west of Russia, near Ukraine. Only 50 Adyghe believers hold the light for 120,000 of their Muslim countrymen. Their forbearers once embraced Christianity, but they became converts to Islam through the intermingling with the people of neighboring countries where they fled for their lives in the 1860s. More recently Islam was completely accepted when they instituted sharia law. They are rich in outreach, having been adopted by several churches. They have a New Testament and Children’s Bible translated into their language, the JESUS Film, and literature in their language. But still, there has been no church planted. The few Adyghe believers attend a Russian Baptist Church and are being assimilated into the ranks and culture of the Russians rather than flowering in their own setting. This limits the outreach to their own people. * Pray that the veil will be lifted from the eyes of the Adyghe people. * Pray also that they will see the truth and put their faith in Christ alone. * Pray that the Lord will send long-term missionaries to form relationships with the Adyghe, and that key leaders will be raised up among the Adyghe people who will boldly proclaim the gospel. * Pray that God will use Christians in Ukraine to reach out to the West Circassians. Day 2 Day 2 Isolated! That is how the Aghul people are described in the Joshua Project website. They live in a very mountainous region. Where there are mountains...
Words: 6609 - Pages: 27
