The APR falls in the average and the $0 annual fee is way below average. In comparison to Wells Fargo’s credit card, Bank of America’s credit card has no foreign transaction fees and the points earned do not expire. However, Bank of America’s credit card lacks entertainment rewards and has a 29.99% penalty interest rate. Citi Citi’s top tier card (Citi Hilton HHonors Reserve) has an annual fee of $95 and a minimum purchase APR of 15.24%. The APR beats the national average, however, the annual fee is more expensive than the average annual fee ($37).
Furthermore, there is no saturation in suppliers in the market and therefore, Garmco is in a position where competition is not fierce in Bahrain. However, globally, competition is fierce and this could be discussed in terms of low levels of product differentiation, as there is no branding in Aluminium. The Chinese manufacturers have massive capacities and can produce more at lower prices, which makes Garmco unable to compete with them. Also, the European mills, Indian, Chinese and few in Indonesia are very aggressive competitors (Lucas, 2016). 3.6 Competitive Position and industry attractiveness Garmco acquires arelatively low competitive position.
They show the high trade freedom. Average tariff rate is 0 percent. Exports of some products like chewing gum and chewing tobacco to Singapore are prohibited. They do not need minimum capital required to start a business. Moreover, they show high a per capita GDP.
(2012) argued that “the primary objective of Singaopre’s economic policy should not be growth per se, but the well beings of Singaporean- good jobs, rising incomes across the board, economic security, retirement adequacy, a more equitable distribution of incomes, and a high degree of social mobility”. For the sake of Economics’ global growth, Singaporean unemployment and income inequalities made a gap between elites, middle class and lowest breadwinners in the society. According to Reuters, November 2007 econometrics professor Anthony Tay at Singapore Management University stated that “When a country becomes richer, you tend to see a widening of income inequality. Over the last few years it has been
(Cia.gov, 2016). 2.0 Unemployment in Singapore The above chart sights the employability rate in Singapore from 2006 to the 1st quarter of 2016 (Stats.mom.gov.sg, 2016). As we can refer here, the rate has been decreasing. According to the world’s unemployment rate, Singapore was ranked 12th among 207 countries with a 2% in 2015 (Cia.gov, 2016). This is quite an achievement for the country; but how does the government achieve this?
It ensures; the flow of investment; spreading of economic development through visits by metropolitan tourists to both popular and less known areas of the country, development of the local infrastructure and distribution of personal wealth. Domestic tourism also presents a more predictable demand and import substitution, as the country will save on foreign exchange. Growth in the domestic tourism market would further combat seasonality ,increase the value of a tourist destination and inequitable geographic tourist spread. Support of the local industry by the locals can realize improved quality in product and services, maintenance of occupancy levels and ultimately the confidence of international visitors. It therefore reduces the exposure of the tourism industry to fluctuations in international demand, which is sensitive to changes in the political and economic environment including bad publicity and internal insecurity .However the percentage of domestic market of overall tourism activities is small despite the industry being relatively mature.
In the other hand, recently, the governments have increased tariffs to imported goods because they want to encourage their own economies and protect inner products. In addition, the price of imported cars in Vietnam was known as the highest in ASEAN. Firstly, inner products can’t compete with imported goods about prices and qualities. Almost people in Vietnam think imported goods are always the best so that have become a headache for government. Secondly, almost the best products all exported to abroad.
Table of Contents Contents Urban Informal Sector 3 Characteristics of Informal Sector 3 Advantages of Informal Sector 4 Disadvantages of Informal Sector 4 Positive Impact 4 Negative Impact 5 Conclusion 5 References 6 Urban Informal Sector It is part of the economy which is called the grey economy because it is neither added in the Gross domestic product (GDP) or Gross national product (GNP) of a country. This part of the economy is also neither taxed nor monitored by the country’s government. The sector is prevalent mainly in the developing countries giving opportunities to the poor and mostly the uneducated of the country. The term Informal Sector describes the employment which is outside of the Industrial sector and it is also termed as an employment which has no job security, fringe benefits or perks and avoids licensing costs. This sector hides itself from the wrath of Government taxes which then attracts many people.
In a nut shell, it can be concluded that GST actually does more benefits to the Malaysia economy which subsequently enhance the well-being of the Malaysian citizen. Firstly, GST is an important source of revenue for government, especially for countries such as Singapore, where the personal income tax and corporate tax are low. With huge amount of GST being collected, Malaysia government can manage the country more effectively, which is obviously beneficial to both individual and the society. Also the government can use the GST to improve the infrastructures in Malaysia. For instance, the government can use the amount of GST collected to build infrastructures such as hospitals and improve the roads system in Malaysia.
The economic gains/benefits refers to the potential economic gains from the move before they decided on the move, i.e. increase in salary/remuneration package, better welfare, etc. This is applicable whether it is the upper tier of foreign talents or lower tier of foreign laborers. Sharing same views by Tan (2015), “Good pay, good governance. The payroll in Singapore is generally better than our neighboring countries and I think that’s the main attraction for people to come and work in Singapore” and Sundaram (2015) , “A stable and neutral environment to work and earn money.