dollar since 1983, came under speculative pressure because Hong Kong's inflation rate had been significantly higher than the United States' for years. Monetary authorities spent more than $1 billion to defend the local currency. Since Hong Kong had more than $80 billion in foreign reserves, which is equivalent to 700% of its M1 money supply and 45% of its M3 money supply, the Hong Kong Monetary Authority (effectively the city's central bank) managed to maintain the peg. Stock markets became more and more volatile; between 20 and 23 October the Hang Seng Index dropped 23%. The Hong Kong Monetary Authority (HKMA) then promised to protect the currency.
Rising income inequality is considered as a global issue. Over the last ten years, median household income has declined in many advanced economies that resulting median household easily trapped in the risk of falling into poverty. Based on the research, we found that the average income of the richest 10% of the population is higher nine times higher than that of the poorest 10%. After 20 years, some countries have developed the advanced technology to improve the productivity of 30% in industries sector. However, there would also 50% worker will encounter the risk of displaced.
More than half the world's population lives in the Asia-Pacific region. In 2005, Asia held 53 million on 191 million migrants in the world according to the UN Department of Public Information of Economic and Social Affairs. In the 1970s and 1980s, international migration from Asia increased dramatically. The main destinations include the oil economy in North America, Australia and the Middle East. Since the 1990s, immigrants across Asia continue to grow, especially in the newly industrialized countries carry out large-scale labor surplus less rapid growth in developed countries.
INTRODUCTION Companies invest one third of their revenue in Recruitment, Training and Development, Management practices or any incentive plan but most of the time they even don’t know about the return that they are getting from these investments, same as the case with Fleet Bank, which was the second-largest financial services company in the US and seventh largest financial holding company in the country. In 1990s there biggest concern was the Employees turn over which was up to 25% annually and among some groups it was over 40%. That was hurting the Banks Customer focused strategy big time. The company conducted some surveys regarding this issue but employees were not giving correct information (which is often the case with surveys and
However the fifth development Plan (1973-78) was to become the most successful one and the one with the most consequences. In 1973 came a rise in oil price on which the Shah played a leading part in, ultimately leading to an oil boom. The oil boom led to an increase in oil revenues, with which the government under his leadership started several expansion projects, mainly concentrated in construction. Infrastructure rose and foreign companies were brought into the country, making huge investments. Iran was living of what seemed to be an era of economic
Although the sales rose to RM4.1 Billion in the year ending March 3, 1994, profits fell from RM145.4 Million to RM7.7 Million. But at that time, the flight was still receiving large shipments of new aircraft and sales of its used aircraft were slow. Some of MAS’s new aircraft were delivered late, resulting in penalty payments from Airbus. Due to the pressure, Tajuddin immediately set out to solve the problem. He introduced a more businesslike attitude and to get better reporting from the company’s managers.
During the 1980s up to the mid-1990s, Qatar experienced an economic downturn due to its overdependence in the oil industry. From this hindsight, Qatar has recently been reducing its reliance on oil and gas by exploring and developing other industries as potential strengths of the country. Presently, Qatar is the largest financial center in the Gulf Cooperation Council (GCC) region (The Peninsula, 2014). Its capital city, Doha, serves as the business center. SMEs represent the backbone of the Qatari economy and accounts for 93.6 per cent of the manufacturing industrial firms in the country and provides 70.2 per cent of employment in the Qatari industrial sector (Gulf Organization for Industrial Consulting, 2013).
Total Debt service as a percentage of GNP rose from 3.6 percent in 1980 to 5 percent in1996 (World Bank, 1998: 240-244). Ironically, as the external debt and the cost of servicing them increased, foreign aid began to decline. Furthermore, the most heavily indebted poor countries at the beginning of the 21st century had been obliged to restructure and reschedule their external obligations frequently, not weakening the outstanding debt but seeing it increase while its composition harden around a growing multilateral core. Yet, while the international community can mobilize about $100 billion to bailout the middle and higher income countries of Asia (HIPC), no HIPC was cured of its debt problem in the 1990s. In late 1998, the World Bank and the International Monetary Fund joined Non-governmental organizations, churches, and civil society in a global consultative review, which led to an endorsement to cut external debt service (World Bank, 2002:
The sector has stagnated since the introduction of the SAP and the loosening of import controls, and the 1990-1997 period has been characterized by “a lack of industrial development.” Zimbabwe’s real GDP per capita fell by 5.8% during 1991-1996 and total private investment fell by 9% between 1991-1996. Employment growth in manufacturing fell from 3% during 1985 -1990 to -3% in 1999 - 2000. Real wages declined by 26% between 1991-96 to the point where even those with full-time jobs were no longer guaranteed a living wage; food prices rose faster than other consumer prices, having the greatest impact on the rural poor. Farmers have been hurt by high interest rates, the removal of subsidies on agricultural inputs and a reduction of government spending on roads and transport systems. The price of fertilizer has shoot up 300% in five years
The external debt of the country increased by an annual average rate of 25% and this was from 1970 until 1981. It is given that the Philippines is rich in natural resources, however, according to Zaide,”the masses live in poverty.” Apart from that, he also mentioned that 10% of country’s wealth belongs to the rich oligarchs, while the latter, the 90% of our population are the poor, and most of these are consisting of factory workers, the landless peasants, and most importantly, the jobless people. In Mendoza’s article, the key factors that aggravated poverty and economic contraction were: 1. The state-run monopolies 2. Mismanagement of the exchange rates 3.