Group items tagged

Amid growing domestic issues, such as corruption and political instability, Mozambique continues to suffer from a lack of foreign direct investment and economic growth despite promising offshore oil deposits. Highlights domestic factors that influence economic growth and development.

The combined annual gross domestic product (GDP) of China and the European Union (EU) may grow by an additional US$200 billion by 2030, according to a study on the impact of a EU-China free trade agreement....

This article describes that United Nations Secretary-General Ban Ki-moon is stressing the importance of human and economic development in addressing peace and security challenges in Africa's Great Lakes region, calling for the use of natural resources there as a powerful driver of growth.

In economy we always say food is always inelastic, diaries such as cheese, cheese, butter are considered necessity for people and the price should be inelastic with PED less than 1. As time is changing, the raise of price will cause less revenue, it's not as inelastic as it use to be. The government use to be the biggest clients and they have control over the elasticity of the product, which they aren't any more. There are also a lot more alternative to fluid milk as well. This is also relating to the FDA's view on butter, it use to be vilified and now it seem to be the best product available, people are buying butter, but as the price increase, they buy a little less. We see this change in restaurants as well, McDonald's are moving away from cheeseburger and pizza restaurant are putting less cheese on their product.

I think this shows how time also has an effect on elasticity. In the past dairy has been typically seen as an inelastic product but it is now viewed as an elastic product. There have also been growing amounts of substitutes to dairy products especially milk product substitutes.

This article looks into the reasons while dairy demand has become more elastic in recent years. In the past, demand for dairy products was fairly inelastic. However, that has changed. In the past, the US government purchased a large amount of dairy products which kept prices stable but that is no longer the case which has caused prices to destablize. Additionally, there are now many alternatives to fluid milk with more stable price. As a result, it has become the most elastic dairy product. Butter and cheese are less elastic. The article also mentions that restaurants and fast food restaurants drive the fluctuation in dairy demand.

This article discusses the problems with China's economy and what needs to be done to resolve these issues. In China economics and politics are very closely tied. This is due to the fact that China's authoritarian leaders are largely in charge of the economy and must deliver economic prosperity in order to stay in power. However, industrial production has fallen, fixed-asset investment and retail spending has slowed, and home sales have plummeted. This has caused concern among Chinese leaders. While there was once a consensus in the West that authoritarian politics were beneficial for the Chinese economy, this is becoming increasing questioned. For the past several years, the aim has been to "rebalance" the Chinese economy by avoiding over reliance in fixed investment and imports as well as greater reliance on domestic consumption to drive GDP growth.

This article discusses the sugar market in the U.S. On average, U.S. consumers pay twice as much for refined sugar as the rest of the world. This is largely due to sugar policies in the United States. In America, the federal government offers loans to sugar cane and beet processors who are to pay sugar growers a minimum price set by the USDA. The idea is that processors will obtain a market price for their sugar that is sufficient to pay back the loans. However, the loans are "non-recourse," meaning that if the market price of sugar declines, processors can forfeit to the USDA the sugar they put up as collateral. In order to prevent sugar processors from offloading sugar onto the USDA and to protect processors from lower-cost foreign competition, the federal government has imposed a two tier system of tariff rate quotas. It also restricts the total amount of sugar that domestic processors can sell by setting market allotments which are designed to drive up the price by creating artificial scarcity.

To battle China's decreasing economy government has decided to increase it's tourism sector hoping the increased revenue can help the economy as well as boost domestic spending. If society itself does not spend how is it expected to generate profit. However in order to make sure tourists know of the new sector they are creating advertisement would have to be paid for or else there could rise the possibility of a market failure that occurs with positive externality of production

According to top Chinese officials, China's economy is showing signs of improvement while capital outflows from the country are moderating. Chinese leaders are trying to reassure major trading partners and jittery financial markets that the government is able to manage the slowing economy following a slide in the nation's stock market and depreciation of the yuan.

Turkey has received an urban explosion that developed it's nations from a musty barren land to a trans-global hub. The technology has advanced, transportation, the environment is clearer as pollution levels have gone down. This was not something done overnight, Turkey had started implementing policies since the 1980s such as gecekondu. Today cities can produce their own revenues, have elected officials, and make their own deals with foreign nations. Yes, the standard of living and income has increased but there are disadvantages with this in the sense that the roads are congested. Less public transportation use. They have also been privatizing public areas which most citizens disagree was they areas are symbolic.

The article discusses the increase in the minimum wage and its effects on employment as the government struggles with the rise of inequality over the previous years. David Neumark an economist at university of california argues in his paper that a high minimum wage wage may not be effective in tacking poverty. Other impacts on the increase in minimum wage is higher productivity on the other hand labor is so cheap that there is less incentive to increase the wages. Higher minimum wages could boost the economy and if employers focused on high-skilled workers in the short term, that could boost productivity and the economy in the long term, eventually providing jobs for the low skilled.