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Home/ IB Econ 12 (1)/ Contents contributed and discussions participated by Sungjin Park

Contents contributed and discussions participated by Sungjin Park

Sungjin Park

Europe fears 'uncontrolled protectionism' as emerging markets turn against free trade -... - 1 views

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    1) Briefly summarize the article (3-4 sentences) The article mainly discusses about the issue Europe is feared about the uncontrolled protectionism. Several countries such as Russia, Brazil, Indonesia, China and other countries are posing a increasing threat to global recovery, because the markets are emerging turning against the free trade. Overall, it will give several economic crisis towards several nations in Europe. 2) Is your article arguing for or against free trade? Explain The article is mainly arguing against free trade, because by pushing over 154 new tariffs and restrictive measures, it will be violating G20's promise and it is a threat to global growth. 3) Explain how different stakeholders might be affected (foreign/domestic producers, consumers, gov't) As reading the article I could see that domestic producers are going to be suffering due to the tariffs and restrictive measurements, thus it will also give a damage towards the consumers. As markets are emerging, the markets will be selling products with higher price levels. The government will be also heavily damaged, because by emerging markets, half of the global is output and free trades are turned back as political pressure mounts.
Sungjin Park

Why Can't We End Poverty in America? - NYTimes.com - 0 views

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    1) Distinguish whether or not the article is talking about absolute or relative poverty. The article is talking about absolute poverty. 2) According to the article what are some possible causes of poverty. - a lot of people are at low-wage jobs - More households are headed by single parents, which makes it  difficult to earn a living income from the jobs that are typically available. - disappearance of cash assistance for low-income mothers and children - race and gender mean higher poverty among minorities and families headed by single mothers. 3) According to the article what seem to be some of the consequences of poverty. - 6 million people have no income other than food stamps (provide an income at a third of the poverty line) - distrustful of encrusted power in all institutions - tending towards libertarianism, ripe for a new politics of honesty
Sungjin Park

Government to hike DA by 10%; to benefit 80 lakh employees & pensioners - Economic Times - 0 views

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    This article mainly discusses about the government in India having a hike in DA by 10%, which allows the lakh employees and pensioners have a benefit. A hike in dearness allowance to 90% from existing 80%, this benefits around 50 lakh central employees and 30 lakh pensioners. The government caused this in order to give benefits to employees and pensioners. Which will show a effect of proportion of basic pay, and it will work out to be over 90% after factoring in the revised all India Consumer Price Index for the Industrial Workers. The impact of it will be that DA was hiked to 80% from 72%. The government uses Consumer Price Index for industrial workers to arrive at a number for the purpose of any DA hike. The retail inflation for the industrial workers (July 2012~ June 2013) needs to take a finial decision.
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