Easterly believes that little has changed when it comes to the White’s illusion of superiority and states that “the savage people” and “uncivilized” of yesterday are today referred to as “third war” and “underdeveloped”, respectively. This mindset should be changed. Poor countries can find a way to prosper without intervention and massive aid programs. The bottom 4 developing countries in terms of receipts of foreign aid had no problem achieving healthy growth rates. Countries like Hong-Kong, Korea, Singapore and Taiwan went from being 3rd world countries to developed countries in less than 4 decades (GDP speaking).
Meanwhile, the Reform and Opening-up in China welcomes the entry of foreign investment with favorable taxes. China’s flexible policies on industrial management, border and customs control, especially the inexpensive labor and land in the Pearl River Delta strongly pull Hong Kong’s industries northward. From 1981 to 1994, industrial employment in Hong Kong fell from almost one million persons in 1981 to merely 433,672 by 1994. In 1980, the Delta already had a population of 13 million people and serves as the major source of cheap labor to Hong Kong’s labor intensive industries through both legal and illegal
1.0 Introduction “Governments should play active roles in managing short-run instability in the economy caused by unemployment and inflation problems.” I strongly agree with this statement as far as my own country is concerned. Singapore, although a very small island of about 700 square kilometres in the South East Asia, is an international business hub. The population is about 5.7 million as of July 2015 which consists of Chinese, Malays, Indians and other emigrants like Filipinos and Caucasians. Singapore has an ever growing free-market economy and compared to other developed countries, the Gross Domestic product is relatively higher. (Cia.gov, 2016).
For one, when put into comparison with other healthcare financing systems, Singapore has proved to be above average. It functions well; the equity and problems are balanced out, thus drawing a lot of attention internationally (Abeysinghe et al.). As mentioned earlier, Singapore’s healthcare policies are well developed in maintaining the economic stability. Singapore has been channelling less than 4% of its GDP to healthcare. On the contrary, the global health expenditure average is 8% of the GDP (Financing Health Care).
The country has very few restrictions on investments and enforces no tariffs, however, there is a strong government intervention in macroeconomic management and major sectors like land, labour and capital resources. Both the government and the free market have a high degree of influence (Content, 2010). According to EconomyWatch (2010), Singapore has one of the most open and competitive economies in the world and ranked second on the World Bank Ease of doing Business Index in 2017. The unique combination of the free market system and government intervention developed in Singapore and dubbed the “Singapore Model”, has been highly successful and has seen the country attaining an AAA credit rating from all three major rating agencies, Standard & Poor’s, Moody’s and Fitch (Content,
Several fast fashion brands do not apply celebrity effect. Mohr (2012) states “if a product is really strong, you do not need a celebrity to sell it to consumers.” It is believed strong brand could get over celebrity endorsement. Zara is credited with being a leader in fast fashion (The Economist, 2005; Strategic Direction, 2005, Foroohar and Stabe, 2005). Whereas they do not have any celebrity endorsement up to the moment, Zara could still gain the first place in fast fashion market. Inditex, the Zara’s parent company based in Spain, recently reported profits in the first quarter jumped by a whopping 28%.
Japan’s Gross Domestic Product (GDP) is the third highest ranked globally, raking in US$4730 billion in 2016 (Statistics Times, 2016). In 2015 alone, manufacturing facilities contributed to 20.5% of the country’s GDP (The World Bank, n.d.), showing how important these plants are to the economic growth of the country. Despite the fact that the government has put measures in place to ensure pollutants released by these facilities are kept at a minimum, more can be done. The benefits that arise from keeping limitations on pollutant emission a priority outweigh the pros of rapid product manufacturing, and will eventually lead to a stable, persevering economy. Body GDP is an international measure of a nation’s wealth, and demonstrates the importance of industrialization in Japan’s economy.
In FY14, the Company reported sales of $3.8billion, with a total sales growth of 5.3%, while that of the industry was 2.0%. The most value-added attribute is JBH has always been supported by a low cost model, which enables it to offer to customers a wide range of products at a competitive price. JBH’s closest competitors include Harvey Normans, Dick Smith, Big W, Kmart, The Good Guys, Betta Electrical. It was first listed on the Australian Stock Exchange (ASX) on 23th October
Multinational corporations had brought numerous opportunity to developing country such as job opportunity, increasing guarantee at employment rate. It is benefited for developing country to improve the economy. According to Management development in international companies in China (Stephen T.K. Li, 1999), China is obtained 10% average annual by multinational companies and foreign companies create over 8 million job opportunity to China people, most importantly, China had a low employment rate before multinational companies enter into China. Consequently, the international companies are benefited to developing economy to developing
According to the World Bank (2014), about 45% of the population are living below the official poverty line and 17% are “extremely poor”. It has experienced a lot of economic crunch. In 2008, Kosovo declared its independence from Serbia. After the independence, it started operating a free-market economy and became a member of the World Bank, the International Monetary Fund and European Bank for Reconstruction and Development (World Bank, 2014), which has enabled it to experience a steady economic growth. During this period, it was discovered that it had the potential of becoming a better economic society in the nearest future due to low government debt and a sound banking system (IMF,