As Anthony Seldon and Daniel Collings stated in their publication, Britain Under Thatcher, The policy of privatisation called "a crucial ingredient of Thatcherism" (Seldon, Collings, 1). Thatcher accelerated her wish to privatise many state owned companies after her success in retaining power from the 1983 general election. The government sold twenty nine billion pounds worth of state owned business to private companies. This impacted British society as it fuelled the huge economic growth that the United Kingdom experienced during this time. However, privatisation also often results in these services becoming more expensive to the general public as private businesses run their companies to make a profit, whereas the government’s main focus for these services is to make them available to its citizens, then to try and make a profit.
About the cause of the 2007-08 Global Financial Crisis and the measures Along with the development of economic globalization, the world economies have closely linked. Therefore, 2007-08 financial crises made economies have suffered varying degrees of influence. This was a from the USA subprime mortgage crisis and once in a century financial crisis by Arup Shah (2013). Famous American investor, entrepreneur and philanthropist Warren Buffett (2008) claimed that“ the US economy is in recession and degree would be more serious than most people expected”. I found some of the causes of the crisis, for example, investments and loans have distorted the economic development.
Commercial diplomacy and the diplomatic assistance as a part of MNCs activities also considered as one of the most important factors in determining the successful of the MNCs. In this paper, I would like to discuss and explain more about what MNCs is, its activities, its commercial diplomacy activities, and its diplomatic assistance. II. Content Multinational Corporations
The British Welfare state has become an important part of the British state politics since its establishment and development. Factors contributing to the establishment of the Welfare State includes population increase, unemployment, poverty and limited of resources (Clark,2007). The rapid and demographic changes after the World War II have seriously affected the Social policy system of Britain. Over the years, there has been reduction of costs and spending in response to economic difficulty causing the government to restructure the welfare state system particularly after the conservative welfare state reforms of the 1980. The origin of the welfare state has evolved over the years starting from the16th century ((McAuley, 2003).
Jakarta Metropolitan Area, who benefited the most because of the strong bond with outside trade and market. Small cities affected due to weak bond from foreign trade, so there is a spatial growth of urbanization in Indonesia. Foreign expenditure in Indonesia point on low paid worker, this is why Jakarta became an attractive place to make an investment. A total number of US $16,759.3 million has been calculated from global to local investment. The first problem was when Indonesia economic affected when oil prices fell, which cause them to introduce deregulation policy in order to restore back what they had lost and this policy brought positive impacts on the Indonesia’s economic by mid-1990s.
Singapore’s transformational approach in its industrial relation practices in both public and private sectors has driven the economy towards the privatization in order to support its nation building. During 1980, the private enterprises in Singapore were experiencing more pressures, biased antagonism, discrimination and favouritism due to the major interventions by the Singapore government officials. Therefore, in order to minimize the government participations in the Singapore’s business activities, the privatization was spearheaded across the country, even with the government-linked agencies (Chwee-Huat,
Same goes to tourism service provider, the travel packages can be browse and booked online. In the Malaysian economy, tourism is an important sector where it leads to the positive economic development of the country (Mansor & Ishak, 2015). As one of the main generating factors to Malaysian economic growth, it has contributed about RM60.6 billion in tourists receipts from 25.03 million arrivals in 2012 (Tourism Malaysia, 2013). (Omar, Islam, & Adaha, 2013). The tourist arrivals data statistics is influential to the development and the readiness of other tourism-related industries such as hotels, transportation, food and services industries at their good level (Mansor & Ishak, 2015).
Hence, FDI appears to a key driver underlying the strong growth performance experienced by the Malaysian economy. Furthermore, Malaysia government recognizes that foreign investment particularly in manufacturing helped Malaysia to improve economy growth and provide benefit of employment opportunity. In addition, FDI also acts as an agent of transformation in the Malaysian economy. This is proven with the dominance of the influx of FDI into the manufacturing sector in its transformation from agricultural economy to industrialized economy (Abdul Rahim, 2006). Wong and Jomo (2005) point out that FDI can bring in foreign exchange to be used in the payment of necessary capital and intermediate goods imports, consequently, solving the foreign exchange problems.
Although political parties are mainly ethnic based, but the dominant ruling party, the United Malay National Organisation (UMNO), has been established in 1946, seeks cooperation within a larger coalition framework with other parties. In the economy construct, Malaysia’s economy has been transformed to an industrialized, export-oriented manufacturing economy after the implementation of export-led industrialization and the New Economic Policy (NEP), with its two-pronged objective of eliminating poverty irrespective of ethnicity and the restructuring of society to remove ethnic identification with particular economic functions. This strategy was effective in reducing the socioeconomic imbalances between ethnic groups and the rich-poor gap. Following the economic changes, Malaysia has developed a fairly advanced and modern educational system, especially at the tertiary level. The appearance of a multiethnic and educated middle class has enabled the various ethnic groups to live and work together in relative peace.
It plays a big role in the country’s employment and job generation. It also becomes a driving force behind a resilient national economy. SME can serve as potential suppliers of outsourced parts and services in a rising globalization trends and can contribute to economy both in terms of enterprises and workers. Given a bulk of Philippine manufacturing enterprises there is a need of improvement capabilities in economic and social aspects. Country can have many benefits particularly in increasing value added and employment as well as diffusion of technology and management, and access to world markets if it strengthens the linkages between multinational corporations.