In Conclusion, Reducing global inequality is by no means an easy task. Several options and alternatives have been proposed by both Piketty and Milanovic. While Piketty focuses on the economic aspect, he fails to provide elaboration over the political side of the issue. Milanovic, on the other, does recognize politics. One thing is for certain, if these challenges continue to go unaddressed, they are likely to reinforce the future’s level of economic
This is due to the fact that there is a direct correlation between poverty and corruption. Studies prove that the wealthiest countries in the world are invariably the least corrupt ones and the poorest countries are the most corrupt. There are often political factors based behind this and one of them is a bad government. Governments need to do many things in order to encourage development. One of
The largest challenge which accompanies the trend of globalization is the issue of cultural differences and variety in leadership which arises in cross-national companies. When the question is asked: ‘What is the biggest barrier in doing business in the world market’, cultural differences ranks first. (Zigang, 2004) A quote by Hofstede states "there is something in all countries called 'management', but its meaning differs to a larger or smaller extent from
Take into account these differences between countries; you can expect that doing business and negotiation in Asia will take much longer than in the USA because Asian people tend to build a relationship first while Americans seek instant gratification and quick result (Roberts, The American Scholar, 2014). Scores of Vietnam was marked with an asterisk (*) which states that the research is not officially from Greert Hofstede but have been added through other research
(Katz & Lazerfeld,1955). 3 Semiotics Theory: Semiotic theory focuses on the social and cultural meaning of signs and codes. Signs may consist of an image, a word, an object. The interpretation of the meaning of signs depends on the relationships between the signifier (the image, word or object), the signified (the implied meaning), and the referent (what the image, word, or object actually refers to) (Scholes,1982).
While, this doesn’t seem a totally groundless accusation- it makes sense and feeds the riches’ tormented conscience. It is important to note that most at a time terrorist do come from the poorest countries with high unemployment. While, the terrorist organizations often provide much higher salaries than any other jobs, if any other jobs is available at all. Infact a lot o different factors interact with the decision to become a terrorist. Personal and cultural ideas and principles are just as important as material and social gain (reputation & fame for fighting the imperialists) of entering terrorism (poverties,
This also increases income inequality because educated workers who can use technology get the high paid jobs, increasing the income differences creating more difference between the rich and the poor. This inequality relation is common in most parts of the world however, the case in Pakistan is worse because it is a poor country and there is income and education inequality even within the districts of Pakistan. Income inequality in Pakistan We can see this rise in income inequality with the help of Gini Coefficient, which measures how income is distributed in a country.
If a multinational company has a variety of foreign exchange transactions, this is the risk of a certain exchange rate fluctuation. Therefore, if the risk is avoided, hedging is the strategy most companies are willing to choose. Petrusheva argued that the importance and significance of financial risk management in international trade financing is great. Hedging is one of the most frequently used means. This reduces the business risk of the company.
This may entail changing it to suit the customers in terms of their cultural or linguistic standards. 2) The two main reactive responses as to why firms get involved in globalization include; the need to engage in international competition, which is aimed at increasing the company’s operations and maximizing its profits. A firm may also face difficulties resulting from harsh restrictions by the local government, thereby forcing it to relocate its operations in other countries that have less-harsh restrictions. Two major proactive reasons include; the need to seek economies of scale, and the need to seek more expansion opportunities in case the home market becomes congested.
TA: Jesse Drucker Zamarron 1 Jim Zamarron 861071340 10. According to the accounts provided by Hamilton and Biggart (1988), by Biggart (1991), and/or by Saxenian (2011), compare the impact of two or more of the following influences on the economies of one or more East Asian countries: institutions; networks; markets; transaction costs. The Asian Miracle Since WWII, East Asian countries have undergone drastic changes in their economic infrastructure. Even though WWII left this region war torn, countries such as Taiwan and Japan have become an “Asian Miracle” as they rapidly developed despite their predicament.