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University Degree: Political & International Economics
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Where it differs is that it draws on international evidence from six countries in total; Canada, U.S.A., Australia, U.K., Japan and Germany. Much of this comes from a paper by David Metcalf entitled Unions and Productivity, Financial Performance and Investment: International Evidence. It provides an interesting insight into countries such as Japan and Germany where union density is much higher than that of the U.S. Although Freeman and Medoff's study concluded that unions were as a whole good for productivity much of the literature has shown that their results have not held up well.
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Globalization has also generated considerable excitement among the rank and file of workers in industrialized countries. Economists, businessmen and journalists have been quick to reassure: Rather that damaging wages and throwing people out of work in advanced countries, globalization has been a force of prosperity in much of the world. Others including not only trade unions, but also social and political scientists, draw a somewhat bleaker picture of the current economic process. The global economy is a great leveller - but us levels downward. It undermines every nation's ability to maintain social cohesion. However, common sense and comparative observation suggest that some stand to win and others stand to loose from the ongoing process.
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This essay will define 'cultural characteristics' as the social values that are specific to Japan, i.e. what makes Japanese society different from others. The study will answer the question by discussing firstly the cultural characteristics that attributed in the rise of the Japanese economy between the 1950's and the 1980's. Next it will look at Japan's economic problems since the 1990's, and the factors that have influenced this rapid decline, discussing whether the cultural characteristics of Japanese society have also played a part in this process.
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When analysing a definition of the Caribbean, some take into account the idea of All States washed by the Caribbean Sea. With this in mind it is evident that this definition covers a wider area and as such proposes a wider area for economic integration.
Firstly there is the chain of islands representing the Caribbean as an archipelago. Within this area there is also division as the chain of islands can be categorised into The Lesser Antilles, The Greater Antilles, The Netherlands Antilles and The French Antilles. There exists further divisiveness as these islands are sometimes categorically referred to as The English Speaking, The French Speaking, Dutch Speaking, and Spanish Speaking Caribbean. In light of this, it is clear that this area in the Caribbean, a chain of islands, is separated by sea. In other words there is no direct geographical link with the other islands.
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Hence the Government reduced obstacles to FDI and used various subsidies, financial aids or tax waivers to attract foreign firms like Toyota. Benefits of Toyota's investment to France France was having a high unemployment rate at that time, and in the city of Valencienne, where the plant was planned to be built, the unemployment rate was as high as 20%. Toyota's investment would not only create 4,000 new jobs in France, but also help balancing the current account by increasing France's export through exporting Toyota's automobiles to other European countries.
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The WTO stimulates and encourages foreign trade and investment, thereby reducing the costs of goods and services for citizens in countries across the globe. The WTO, through the co-operation of nation states, lowers trade barriers, opens the doors to progress for undeveloped countries and increases our collective quality of life. XYZ Inc. strongly supports the mandate of the WTO, having directly benefited from the organization's work. Continued progress in the following three areas, namely investment liberalization, labour and environmental standards, and intellectual property, can only further spread the positive impacts of globalization to nations and corporations alike.
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protect "corporate profit-making rights", far and beyond any degree of laws that have been created to protect social, labour, or even human rights. With all that being said, free trade has brought with it many improvements to our society. In assessing the effects of free trade on our economic and social values it must first be noted that Canada is a small trading country whose employment and income are very much dependant on foreign trade.3 Allies of free trade feel that it puts us in a position to be more competitive in the global market, our exporting abilities have increased
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The conceptual and computational barriers to thinking about multiple sectors are quickly falling away. A key component of the real business cycle theory is a production technology. This is a relationship that specifies how much output a firm can obtain from a given amount of capital and labour resources. This technology is subject to shocks. Sometimes a good shock occurs and more output can be produced for a given level of inputs. According to the real business cycle theory, business cycle expansions reflect that shocks affecting firms are mostly on the positive side, while recessions reflect periods when most firms' shocks are on the negative side.
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What are the various trade instruments (laws) that are available to U.S. industries hurt by what they perceive to be unfair competition?
If the ITC found injury, Commerce would have the US Customs impose an offsetting duty on the imports equal to the subsidy. * Section 201 action - expensive, less common, higher injury standard, harder to prove, but had broad ramifications as it could target all steel imports from all countries o Relief was at the discretion of the President. He could take/implement no action, Tariff, Quota, Tariff-rate quota, or Trade adjustment Bilateral trade initiatives - to manage imports and exports Was the U.S.
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On the other hand, dependency theory, draws most of its insights from a branch of Maxist thought, rejects the modernization theory premise that the causes of the underdevelopment in the South are domestic in nature. It emphasizes the international context, contending that "international institutions, multinational corporations, and the states of the First World have deliberately kept the Third World in a dependent condition" (ibid., 353). Moreover, proponents of this theory argue that "the existing international economic system is inherently biased against the South,"(ibid.) so that there is no way that the Southern countries can compete in the world capitalist system.
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Once they reached their final destinations a new suffering and humiliations started. They were working as much as 18 hours a day and many times worked themselves to death. It was very cheap to get a new slave and nobody cared if one died. On the plantations they were sorted to match each other in size and strength. Every 10-15 slaves had a "driver" walking behind them holding in his hand a whip. The slaves were working naked, what just made it easier for owners to punish them. For negligence they were also whipped, usually with hard wood switches, till they were all bloody.
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The PRC is now a member of the WTO and very much part of the globalization process - Discuss the implication of this for maniland China, the regions and world trade.
5 Under China's WTO accession agreement, China made substantial market access commitments covering the agricultural, industrial and services sectors: (1)Phase-out of non-tariff barriers on imports - Import license requirements will be eliminated within five years of accession, and all quotas will be phased out within five years of accession. 6 (2)Tariff cuts - average import tariffs for industrial products will be lowered from currently 14.8% to 8.9% by 2005, and average tariff for agricultural products will be cut to 15% by 2004.
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TABLE OF CONTENTS Title page Executive Summary Table of Contents Pg. 1. Introduction 2 2. Country information of Malaysia 3 3. Political analysis 3 4. Economic performance 4-5 5. Business Environment 5 6. Government 5 7. International trade 6 8. Social and Demographic Structure 7 8.1 Legal and judicial system 7 8.1.1 Technology 7 13. Recommendations 8 14. Conclusion 8 15. References 9 1. Introduction This report contains an analysis of the macro-environmental factors and its impacts on manufacturing industry in Malaysia.
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The Atlantic slave trade took men over women in a ratio of two to one. A policy of The Royal African Company read, "In slaving our ships, always observe that the Negroes be well liking and healthy from the age of 15 years not exceeding 40; and at least two thirds men slaves." (Iliffe, 1995) These implications were great especially for a polygamous society. Exceptionally large numbers of women entered into single polygamous marriages. In terms of labour, there were higher expectations; there was also increased dependency and child care loads.
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The economic stimulus has been generated from a recent tax cut which in turn has triggered investment. This fiscal policy seeks to influence the level of economic activity in the economy through the control of taxation and government expenditure. Lindsay believes that there is incentive for new investment due to the effects of the tax cut feeding through into the economy having a positive effect on consumption within the economy.
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Successful import-substitution always requires simultaneous export promotion. Analyse and provide at least two examples.
A combination of tariffs and quotas often plays the major role in a policy of domestic protection. A tariff is simply a percentage fee that is charged by the government on imports (in general or on specific items), hence raising the observed price of these goods to domestic consumers, whilst also raising revenue for the government. A quota on the other hand is a maximum quantity of a particular good that is permitted to be imported. It is often the case that a tariff and quota may be combined with a tariff being charged on imports until some given quantity after which all further imports of that good are banned.
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The world is shrinking and globalisation is the new order that binds us all together in mutual interdependence. Sink or swim, we go forward as one world.
Transnational corporations, multi-lateral institutions and governments of advanced industrialised countries are driving Globalisation. This is happening in a context where there are major advances in technology, particularly in the information and communication industries. The result of this technological upsurge has seen unprecedented economic and social development. Technology has shrunk the world from a size large to a size small rendering instantaneous real space-time communication possible and, through this, revolutionising global trade, global financial transactions and banking. WHAT PRECEDED GLOBALISATION? The world is 10 years old It was born when the Wall fell in 1989.
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Outline the Classical / Ricardian theory of International Trade - What do you regard as the main strengths and weaknesses of this theory as an explanation of trade patterns?
Although this is the only factor countries have differing productivities. This is caused by the different cultures, landscapes, climate and non-human capital it has. Along with capital is the technological advances made in countries. For example if a Developed country (DC) trades with a Less Economically Developed Country (LEDC) its capital will more likely be machine intensive rather then human. However it may be still beneficial for the DC to trade with the LEDC in order to get products that are more labour intensive. Another assumption is that there are constant returns to scale, this is so that varying and increasing amounts of goods may be produced without diminishing effects
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It was Kronstadt that led directly to the introduction of the NEP. It was the catalyst of the introduction of the policy, however Lenin did himself recognised the need for reconstruction. Lenin thought it necessary to appease the peasants as they made up most of the population in Russia, and to avert the possibility of another Kronstadt. The NEP was a mixture of socialism and capitalism and was referred to as a "step back" for the Bolsheviks as they had just defended socialism in the civil war but were now retreating into capitalism and the "old ways".
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The two angles will be disscused are..... 1.1. Vietnam context in development paradigm The socialist system, which was established in the North of Vietnam after the departure of the French in 1954 and which extended to the South after reunification in 1975, has accorded high priority to social equity, to poverty reduction and to the development of human capital. In the education sector, the achievements have been quite remarkable: in 1954 when the French left, the literacy rate was only 15% (Clarke and Christie, 1998).
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Discuss whether Japan has apologised sufficiently to China for its aggression during the 1930's and 40's.
I will explore this on a governmental level, from both sides, and also the reaction to these apologies from a public point of view. China are continuously using the war as an instrumental value to put economic pressure on Japan, why is this? When will the apologies be enough? The basic framework for Japan-China relations in the 21st century was established by the Japan-China Joint Declaration on Building a Partnership of Friendship and Cooperation for Peace and Development, issued in 1998 during President Jiang Zemin's visit to Japan.
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The programme encompasses strengthened rules, and specific commitments on government support and protection for agriculture. The purpose is to correct and present restrictions and distortions in world agricultural markets. These negotiations were aimed at the reductions of market access, the reduction of and phasing out of export subsidies, and the substantial reduction for domestic supports that distort trade."3 These decisions made by the WTO are very important to developing countries, as these less developed countries will eventually be able to meet the requirements of their population, especially rural developments and food security. The second main negotiations was on Trade and Environment, this topic is on how the members of the WTO should comply with the
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The actions of multinational enterprises (MNEs) may affect a wide range of economic, social and political objectives of a given country.
Many of these effects are due to the relative employment of resources with and/or without the MNEs' activities. In the context of globalization, Africa requires investment by multinational enterprises (MNEs) to improve its competitiveness and to facilitate micro-level structural changes required for reducing its level of risks for investment. The process of economic development is to a large extent contingent upon the cumulative effects of appropriation and development of technological advancement in which MNEs play a central role (Gilroy, 1993). Many of the arguments found are based upon the insight that both home and host countries may gain from FDI when resources are not inevitably fully employed which leads to an industry-specific and complementary nature of capital and technology.
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In December 1992, Canada, the United States and Mexico signed the North American Free Trade Agreement (NAFTA), the single largest free trade area in our times.
Canada's involvement in NAFTA has been beneficial due to the increase of trade and environmental concerns. After NAFTA was signed by Brian Mulroney on December 17, 1992, Canada now was involved in the largest area of free trade in history. It was also the first time a developing country joined two developed countries in a trade agreement. Mulroney was questioned many times about the reasoning behind joining the NAFTA. The main reason was that it now "opens the door to a vast new potential in trade and investment relations among the three countries."3 NAFTA is an extension of the USCFTA to Mexico, yet contains the same benefits for Mexico that it did originally for Canada.
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There are different types of FDI, for example, tariff-jumping, international specialization, horizontal and vertical disintegration. It is called tariff-jumping when firms want to minimize trade costs by investing money into a market with very high tariffs or limited access in order to compete with domestic producers. This is clearly a substitute of trade. Horizontal disintegration is a similar type of FDI as firms try to diffuse their production units to access markets in other countries, so that they are able to avoid impediments like tariffs, quotas or even currency difference.
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