...Is there a relationship between rising US unemployment and the rise of the Canadian dollar? Canada’s financial stability depends on the health of America’s economy, as international trade accounts for 45% of Canada’s Gross Domestic Product (GDP) and 79% of exports are to the United States. Canadian and American unemployment rates are positively correlated for that reason, as exemplified in early 2009. Canada’s unemployment rate quickly steepened as the United States’ rate gradually increased to about 10% (refer to graph 1 and 2). During this time, Canada’s growing trade surplus became a deficit in only a few months (refer to graph 3). From this data, one can determine that Canada’s exports decreased rapidly due to rising economic turmoil in the United States. The effects on the dollar seemed to positively correlate. Canada’s dollar decreased in value compared to the US dollar; however, concluding that the reason for this change was due to the U.S. unemployment rate is inaccurate. The ever-changing exchange rate of the dollar is determined by many factors. As of 2011, Canadian and American unemployment rates remain high at approximately 7.3% and 9%, respectively. In addition, a trade deficit continues to exist in Canada. Nevertheless, the Canadian dollar is gaining strength over the American dollar, which contrasts with the weakened exchange rate in 2009 when the same conditions existed (refer to graph 4). Therefore, rising U.S. unemployment can have a positive or negative...
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...In January 1994, the United States, Mexico, and Canada implemented the North American Free Trade Agreement (NAFTA), forming the largest free trade zone in the world. The goal of NAFTA is to create better trading conditions through tariff reduction, removal of investment barriers, and improvement of intellectual property protection. NAFTA continues to gradually reduce tariffs on set dates and aims to eliminate all tariffs by the year 2004. Before NAFTA was established, investing in Mexico was a difficult process. Investors needed the Mexican Government's approval and were also required to meet specific investment guidelines. These requirements necessitated investors to export a set level of goods and services, utilize domestic goods and services, and transfer technology to competitors. Under NAFTA, investors no longer need government approval to invest and are treated as domestic investors. NAFTA has also increased intellectual property rights and allowed companies to obtain patents in Mexico and Canada. In the past, companies were hesitant to export research and development intensive goods; with increased intellectual property protection, however, exports of these goods have shown a definite increase. As a result of better trading conditions, exports and imports of most other goods have increased along with the research and development intensive goods. In Mexico, the elimination of investment barriers has allowed investment to expand. Increased trading and investment has then...
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...LE HANG LUU NATIONAL UNIVERSITY GLOBAL BUSINESS & STRATEGIC PLANNING IBU 653 PROFESSOR: GREG KAHN TABLE OF CONTENTS Marriott’s Best Known Philosophy 3 History of Marriott 3 History of Marriott Innovation 4-10 Current Marriott Vision 11 New Vision 12 Current SWOT Analysis 13 Plan Of Action 14-15 Disciplines 15 Country Risk Analysis 16-21 Contingency Plans 21-22 Measurements of Success 23-24 Conclusion 25 References 26 Marriott’s Best Known Philosophy Marriott International has been known not only its brands but also its “Spirit of Serve” and a core value shared by 132,000 Marriott associates worldwide. Marriott has been considered as the Best Company to Work for by CNN Money & Fortune. The question is what makes Marriott so great? “When business slowed last year and some associates couldn’t get enough hours to qualify for insurance, leaders changed the policy.” (CNN Money, 2011) Getting deeper into Marriott Company background, all the information below will be credited to Marriott Company Profile and Reference for Business websites. History of Marriott International, Inc Marriott International, Inc.--formed in 1993 when Marriott Corporation split into two separate companies--is the world's leading lodging and contract services company. Marriott International has two operating groups: Marriott Lodging, which generates about 60 percent of company revenue, and the Marriott Service...
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...Abstract Purpose- This paper presents the analysis of U.S. imports and exports by managing the trade balance. It also presents the leading U.S. imports and exports in terms of value along with the important partners. Design/methodology/approach- The author explains the balance of trade including the rise and fall of U.S. trade deficit using the analysis between different countries imports and exports. Research limitations/implications- The study is limited to analysis of imports, exports, trade surplus and deficit of U.S. trading. Originality/value- This paper will help to build up the understanding about the basic imports, exports and importance of balancing the trade cycle for a country. Keywords- Deficit, Import, Export, Surplus, Economy Introduction Every country has to follow a set of policies, methods and processes in order to perform imports and exports. A number of conflicts arise due to weak foreign trading policies by countries. It requires professional expertise to manage the trade of a country. There are also a number of conflicts generated between the different countries related to financial decisions of countries. To eliminate the risk involved in financial issues a system of principles, procedures, policies, responsibilities, accountabilities are used by stakeholders. Many of the famous financial scandals are noted in the history occurring at Parmalat, Nortel, and Enron. It has cost a lot of drop in the market, huge loss of saving, loss of jobs and decrease...
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...5.1 Big Idea: The United States and Canada have a few things in common. The French founded the colony of Quebec in present day Canada. The Spanish settled in Florida, Texas, and the present Southern Untied States. Throughout 1800's new technology fueled economic growth in Canada and The United States. In 1900's The United States and Canada assumed leading roles in the world. The United States and Canada share a number of physical features. 7.1 Big Idea: Over time the Northeast has developed into a major commercial center of the world. The region is known for its beautiful landscape. A visitor wanting to broad view of the Northeast might head for the craggy coast of Maine, New York's spectacular Niagara Falls, or the rolling farmlands of Pennsylvania. Every year, millions of tourists flock to the Northeast just to explore its world famous cities. Compared with other regions of the United States the Northeast has few natural resources. Throughout the 1800's-especially Massachusetts, Rhode Islands, and New Hampshire-factories were built at the waterfalls along the regions many rivers. 7.2 Big Idea: The warm climate and abundant natural resources of the South continues to attract people and industry. Many Americans think of the South as the old Confederacy. The South's location closer to the Equator makes it warmer than any other...
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...has strong ties to the United States and the United Nations. In fact, It is the only charter member of the U.N. in all of Southeast Asia. The United States has a very close relationship with the economy and culture of the Philippines. For instance, Filipinos have a strong resentment toward communistic countries. During the cold war, the Philippines supported America by consistently being hostile toward communist countries, and did not maintain diplomatic relations with the Soviet Union or any other communist state. The United States is the largest foreign consumer of Philippine products. In many ways the survival of the philippine economy depends on the united States. We purchase almost all of the sugar exports, most of the coconut oil, embroidery, at least half of the base metals, and a fourth of the lumber. The United States supplies most of the Philippine imports of machinery, dairy products, cotton, papers, drugs, automobiles and much or the petroleum products. Although countries like Japan, Canada Australia, and New Zealand are getting more and more involved in trade with the Philippines, America remains to be the Philippines most important trading partner. When America acquired the Philippines and established free trade in 1909, the economy of the islands was tied to that parent country. As a result, the Philippines became almost entirely dependent upon United States markets. Thus, America has had a strong influence on not only the economy of the Philippines, but...
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...depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s. It was the longest, most widespread, and deepest depression of the 20th century, and is used in the 21stcentury as an example of how far the world's economy can decline. The depression originated in the United States, triggered by the stock market crash of October 29, 1929 (known as Black Tuesday), but quickly spread to almost every country in the world. The Great Depression had devastating effects in virtually every country, rich and poor. Personal income, tax revenue, profits and prices dropped, and international trade plunged by half to two-thirds. Unemployment in the United States rose to 25% , and in some countries rose as high as 33%. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by approximately 60 percent. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as cash cropping, mining and logging suffered the most. Countries started to recover by the mid-1930s, but in many countries the negative effects of the Great Depression lasted until the start of World War II. Causes of great depression 1. False Prosperity -overdependence...
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... Graduate Institute for International & Area Studies, Seoul National University, Seoul 151–742, South Korea b Templeton College, University of Oxford, Oxford OX1 5NY, UK c Solvay Business School, University of Brussels (V.U.B.), Brussels, Belgium Abstract Globalization is very important for small economies such as Korea and Singapore. The single diamond model (Porter, 1990, The competitive advantage of nations) suggests some important determinants for a nation’s global competitiveness. However, this model is incomplete, mainly because it does not incorporate multinational activities. A new approach, the generalized double diamond model (Moon et al., 1995, in Research in global strategic management: Volume 5: Beyond the diamond) offers some important extensions to Porter’s original model. To test the validity of these two models this paper evaluates relevant data for both domestic and international variables in the case of Korea and Singapore. The results generally support the generalized double diamond model © 1998 Elsevier Science Ltd. All rights reserved. Keywords: International competitiveness; Double diamond; Porter’s single diamond; Korea; Singapore; Small open economies 1. Introduction In his famous book, The competitive advantage of nations, Porter (1990) studied eight developed countries and two newly industrialized countries (NICs). The latter two are Korea and Singapore. Porter is quite optimistic about the future of the Korean * Corresponding author. Tel.:...
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...Executive Summary: + The economic prosperity that Canadians enjoy is dependent, largely in part, in getting Canadian goods to global markets via marine shipping. From coast to coast to coast, Canada’s economic growth is intrinsically linked to the marine shipping industry. + Marine shipping is increasing because the demand for trade with Canada is growing. However, Canadians and the country’s economic growth demand a safe and sustainable marine shipping industry. + Polling shows that Canadians are equally aware of the importance of marine shipping to our economy and that environmental concerns cannot be ignored, especially along our coastlines. + Canadians expect improvement by all marine shipping stakeholders — from governments to industry...
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...productivity". In his famous book, The Competitive Advantage of Nations, Porter studied eight developed countries and two newly industrialized countries (NICs). The latter two are Korea and Singapore. Porter is quite optimistic about the future of the Korean economy. He argues that Korea may well reach true advanced status in the next decade (p. 383). In contrast, Porter is less optimistic about Singapore. In his view, Singapore will remain a factor-driven economy (p. 566) which reflects an early stage of economic development. Since the publication of Porter's work, however, Singapore has been more successful than Korea. This difference in performance raises important questions regarding the validity of Porter's diamond model of a nation's competitiveness. Porter has used the diamond model when consulting with the governments of Canada[4] and New Zealand.[5] While the variables of Porter's diamond model are useful terms of reference when analysing a nation's competitiveness, a weakness of Porter's work is his exclusive focus on the 'home base' concept. In the case of Canada, Porter did not adequately consider the nature of multinational activities.[6] In the case of New Zealand, the Porter model could not explain the success of export-dependent and resource-based industries.[7] Therefore, applications of Porter's home-based diamond require careful consideration and appropriate modification. In Porter's single home-based diamond approach, a firm's...
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...international trade between Canada to U.S. and Canada to China including the foreign exchange policy in each country and comparative advantages. It mostly focused on U.S and China between Canada’s relationships. The United States and China are the largest economic market in the world. Also these countries are Canada’s most favor relationship in the international market. In 2009, the international financial crisis became a huge issue of the world. Due to this financial crisis U.S got a lot of damage. It made also Canada’s economic downturn, because of strong reliant on U.S. Over view, Canada has to be a stronger country with more powers, in order to maintain a good relationship with many other countries to help each other and have more successful economic growth. GLOBAL ECONOMIV DOWNTURN FROM THE FINANCIAL CRISIS In 2009, there was a global economic downturn from the financial crisis. Because of this, many countries got a lot of money damages. This put the world economic in most hard situation. Most of the people in the world spent such a hard time in this area. The main sources of this happened from some countries which were largest markets in the world such as the United State and other developed countries. From this economic downturn many developed countries reduced imports from other countries. Therefore a lot of export countries got more economic downturn. The one of main reason of the financial crisis was that the United State housing price decline in mortgage...
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...Canada’s Oil Sands Resubmission Several communities in Canada have grown and become dependent on the oil industry, such as Fort McMurray [20]. Many local economies within Northern Alberta rely on the oil sands [19]. The Shell Albian Sands [37], consisting of the Athabasca Oil Sands Project, accounts for 17 percent of Canada’s oil production. The project has been extracting and processing heavy Canadian crude [18] oil for years. Transportation of the oil is heavily reliant on pipelines, especially since some of the oil extracted in Canada is sent to other countries. The Keystone XL oil pipeline [5] is a proposed pipeline that will transport natural resources from Alberta to Gulf coast refineries. The pipeline is heavily opposed by the Natural Resources Defense Council [24], mainly arguing the pipeline will have negative long term economic and environmental impacts. One of the areas the pipeline will pose a threat to is the Ogallala Aquifer [10]. The Ogallala Aquifer is a shallow water table beneath the Great Plains of the United States. It provides about 30% of the ground water used to irrigation in the United States. If the Keystone XL pipeline is built, there is the risk of an oil spill, which would contaminate the Ogallala Aquifer. Another proposed pipeline is the Northern Gateway pipeline [32], which will stretch from Bruderheim, Alberta to Kitimat, British Columbia. The eastbound pipeline will transport natural gas condesate, while the westbound pipeline will transport...
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...basis. Warmer temperatures have led to changes in shifting tree line, major impact on several species especially caribou population; other wildlife species foreign to this area moving further north from the south like cougar and whitetail deer. North is also facing problems with territory’s winter road network for example due to the reduced thickness of ice roads, Diavik Diamond Mine in Northern Canada were forced to fly in fuel rather than try to transporting it – costed extra $11.25 million. Melting of permafrost is another concern as it’s affecting the buildings and housing, leading to changes in building techniques. It also causes methane to release which is another greenhouse gas that adds to the mix of warming agents heating our planet. Climate change is also effecting water world as certain fish species are disappearing. Even though, it is very small contributor to CO2 emission, the territory is dependent on international and national actions to and is at mercy from outside to reduce greenhouse gas emissions. According to briefing document prepared for Prime Minister Trudeau, it states that average temperature has increased 1.6 degree Celsius which is almost twice as much since 1948. If we look at Canadian North, the temperature has risen by about 3 times the global average – by about 2.2 degree Celsius. Politicians of the North are really concerned with all these issues, Bob McLeod the Premier of the Northwest Territories is looking forward to the upcoming discussion with...
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...struggled to maintain a profit. In Canada, the incomes of families fell by over fifty percent. (Income Inequality in Canada) At the same time, farmers in the Prairies also suffered through a decrease in price for wheat. There were various factors that influenced the occurrence of this tragic event. For instance, the overproduction in industrial and agricultural activities. Furthermore, the stock market crash and the improper usage of credit also created a dent in the Canadian economy. In addition, Canada’s dependence on international trade was another innovator for this disastrous affair....
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...Why the Keystone XL Pipeline Should Be Approved Christopher Passey COMM/215 September 22, 2014 Chris Goodrich University of Phoenix Why the Keystone XL Pipeline Should Be Approved The United States Congress is currently debating a controversial topic, the approval of the Keystone XL pipeline’s construction, between Hardisty, Alberta Canada to Houston Texas. Both sides of the debate are deeply rooted and are split across political party lines which are making it difficult for the legislative branch to come to an agreement on the issue. Supporters reference the positive economic benefits the pipeline will create, whereas its objectors are concerned about the environmental impact the pipeline could cause. Even though there is a perceived environmental risk in importing Alberta (oil sands) crude oil to the United States, it should be approved because it will provide our country with a secure supply of oil and well-paying jobs that will help our economy. To begin with, let’s discuss some of the environmental concerns that those whom are against the approval are referencing. According to Janna Palliser (2012), “Oil sands crude is more corrosive to pipelines than normal crude oil and difficult to clean up if spilled.” (Palliser, 2012). Janna’s statement is a typical concern, however, many of the world’s top leading and respected research organizations have tested this claim and have all come to the same conclusion. “Diluted Bitumen (also known as oil sands) do not...
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