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Daniel Soto Aggard

South Korea Increases its Terms of Trade - 1 views

www.globalpost.com/...terms-trade-rise-3rd-month-nov

terms of trade south korea

shared by Daniel Soto Aggard on 18 Jan 15 - No Cached
  • Daniel Soto Aggard on 18 Jan 15
     
    This article concerns South Korea and its increase in the terms of trade due to the cheaper oil prices. Its import price have fallen steeply compared to its export. Affecting the county's GDP and economic growth.
Haydn W

Ukraine Uncertainty Depressing Growth and Investment | The Moscow Times - 5 views

www.themoscowtimes.com/...495734.html

Macroeconomic Activity Moscow Times Ukraine Russia

shared by Haydn W on 08 Mar 14 - No Cached
  • As world leaders increase or trash their political clout depending on their audience and the statements they make about the situation in the Ukraine, some analysts were revising Russian GDP growth estimates to as low as 1.1 percent for the year.
  • Wednesday was a calmer day on the stock markets, following a dip of 10.8 percent Monday morning that vaporized near $60 billion of valuation from Russian companies.
  • Although Russia has seen some short-term budget benefits from ruble devaluation and increasing oil prices, the current impasse is not helping to fight stagnation or attract investment.
  • ...6 more annotations...
  • The ruble strengthened slightly to 36 against the dollar and 49.4 against the euro Wednesday evening. This was well above the lows reached on Monday
  • Tightening fiscal policy was topped by possibly impending U.S. sanctions, including economic ones, followed by President Vladimir Putin's claims that Russia may use force in Ukraine if necessary.
  • The heap of these latest events has caused some analysts to revise their overall economy forecasts.
  • PSB Research said Wednesday it would decrease its initially modest GDP growth estimates for the year from the range of 1.5 to 1.8 percent to 1.1 to 1.3 percent.
  • Political standoff will also further stimulate the outflow of capital, Fedotkova said, as investors are reluctant to channel their money into the country that may be possibly involved in any kind of military activity
  • As for businesses, a recent survey done by the Gaidar Institute suggests that more than a third of CEOs and owners of private companies would consider investing in production this year if the price for equipment went down and if the macroeconomic outlook were more certain, Vedomosti reported Monday. At the same time macroeconomic uncertainty was a headache for only 10 percent of surveyed state-controlled companies. No margin of error was given for the survey.
  • Haydn W on 08 Mar 14
     
    This article explains how the recent stand-off crisis in Ukraine is having a negative effect on the Russian economy, with the Rouble taking a further fall and GDP growth estimates being revised downwards. Predictably sanctions imposed by the west on Russia in response to the occupation of Crimea, an autonomous region of Ukraine populated largely by ethnic Russians, have affected businesses in Russia. We learn from the article that some $60 billion valuation has been lost by Russian companies in light of the tensions. This article relates to the macroeconomic concept of circular flow being a complex process with international trade and governments being involved majorly in proceedings.
Haydn W

What are multinationals doing to champion rights of millions trapped in modern-day slav... - 0 views

www.theguardian.com/...ations-compliance-human-rights

Multinational Corporations The Guardian Fair Trade Slavery

shared by Haydn W on 10 Mar 15 - No Cached
  • What are multinationals doing to champion rights of millions trapped in modern-day slavery?
  • With almost 21 million people working in forced labour conditions in the global economy, companies are being made to clean up their act
  • In a world of complex supply chains, migrant workers, sub-suppliers and a constant squeeze on costs, corporate leaders and their stakeholders are keenly aware of the risk of labour exploitation.
  • ...18 more annotations...
  • No industry or region is fully insulated from the social deficit which has emerged from the rise of the modern global economy.
  • Given the influence and impact that multinational corporations have, there is significant scope for corporate leaders to champion reform and action in this area.
  • However, the ILO estimates that 44% of those working in forced labour are also victims of trafficking (pdf).
  • The fight to eradicate the scourge of forced and child labour, sometimes referred to as modern-day slavery, has re-emerged as a defining issue in this century
  • The International Labour Organization (ILO) estimates that almost 21 million people are currently working in some form of forced labour, with 14.2 million in economic activities such as agriculture, construction, domestic work or manufacturing (pdf).
  • Beginning in California in 2012, following effective campaigning and lobbying to then-governor Arnold Schwarzenegger, mandatory corporate disclosure of a company’s non-financial activities has been on the rise.
  • From US President Obama’s executive order on trafficking and federal procurement, to the UK Modern Slavery Bill’s recent amendment to include supply chain disclosure provisions, to the EU’s adoption of a non-financial reporting directive, compulsory transparency around global corporate practices – including human rights, labour and social impacts and policies – is the latest tool being employed by legislators to place social expectations on corporations.
  • multinational corporations have grown significantly in terms of size, assets, resource control and revenue, not to mention societal influence.
  • This growth has been accompanied by growing expectations by society and government.
  • It is, of course, critical to recognise that the global corporate supply chain can be a force for good.
  • However, with their multiple levels of subcontracting, particularly throughout impoverished regions where labour laws are non-existent or not enforced, global labour and product supply chains also provide fertile ground for inhumane practices and working conditions.
  • The United States Department of Labor, for example, has produced a list of 136 goods produced in 74 countries using forced labour, child labour, or both.
  • Many leading companies already understand that their strategies shape the lives of millions. The most forward-thinking believe that business is an integral pillar of society and recognise that the people they rely on at home and abroad are central to building sustainable and lasting businesses.
  • And since mandatory disclosure requires all multinationals to take notice and action rather than just the industry leaders, this ultimately helps level the playing field.
  • Some believe supply chain transparency laws do not constitute any real change from the prevailing corporate-driven model for CSR, while others oppose increased regulation and oversight as unnecessary state intervention, believing that industry led efforts have the best chance of success.
  • it is a combination of corporate leadership and regulation in this area which will help ensure all market participants rise to acceptable standards.
  • The trend away from voluntary reports towards mandatory social reporting for global corporations is here to stay and may represent a first step towards increased legislative requirements
  • No matter where one believes the solutions lie, the ultimate goal is a global economy free from forced labour, trafficking and other abuses. For the millions of victims who go out into the world seeking work in the hope of building better lives, we must commit to seeking the best path forward.
Clemence Lafeuille

Monetary Union Works Because Europe Is Already Integrated - 0 views

www.huffingtonpost.com/...ry-union-europe_b_6430854.html

terms of trade monetary union central bank european union

shared by Clemence Lafeuille on 18 Jan 15 - No Cached
  • Daniel Soto Aggard on 18 Jan 15
     
    The monetary union of the Euro zone has been heavily criticized as only a place that shares one thing: its currency. It has been judged however they have incorrect, due to the integration of the countries' economies.
  • Clemence Lafeuille on 22 Jan 15
     
    This article really looks into how a monetary union can work when it is so divided, and it goes on to say that the political ties are what enables it to thrive without major disturbances. It also mentions how important these ties are for the central bank and monetary policy of the bloc to work
Amanda Anna G

Foreign exchange fines: banks handed £2.6bn in penalties for market rigging |... - 3 views

www.theguardian.com/...n-rbs-penalties-market-rigging

foreign-exchange-market

shared by Amanda Anna G on 22 Nov 14 - No Cached
  • The corruption of the world’s biggest currency dealers was laid bare on Wednesday when regulators imposed £2.6bn of fines on six major banks for rigging the £3.5tn-a-day foreign exchange markets.
  • Two UK and US regulators said they had found a “free for all culture” rife on trading floors which allowed the markets to be rigged for five years, from January 2008 to October 2013.
  • The chancellor, George Osborne, said: “Today we take tough action to clean up corruption by a few so that we have a financial system that works for everyone. It’s part of a long-term plan that is fixing what went wrong in Britain’s banks and our economy.”
  • Amanda Anna G on 22 Nov 14
     
    Regulators have imposed fines on six major banks for rigging foreign exchange markets. George Osborne argues that action have been taken in order to clean up corruption so there will be a financial system that works for everyone. 
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