...Name Professor Institution Course Date Germany and Canada; Why they are different? Introduction The economic status of a country is determined by various factors and various measures that are compared to other countries. The economic stability of countries is measured with consideration of various elements such as the general income of the citizens, and also the productivity of various groups and organizations in the nations. The economic contributions of economic institutions such as banks, private and public financial institutions are also used to determine the position of nations’ economic status. The index heritage scale is an essential parameter in determination of a country’s economic position in comparison with other nations across the world. The global economy ranking is therefore achieved after a comprehensive analysis of the economic positions of various countries, and this is with comparison of the pillars of the economy of the respective nations. Poverty, poor health and ignorance are considered to be the fundamental contributors of low index heritage scale due to their negative contributions towards the economy of a country. It is the responsibility of the government and key players in the economy of a country to ensure that the economic strategies and activities that they engage in positively help in eradication of poverty, reduction of ill health and control of unawareness among people and organizations. This paper aims at drawing a comprehensive and evidence-based...
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...Name Professor Institution Course Date Germany and Canada; Why they are different? Introduction The economic status of a country is determined by various factors and various measures that are compared to other countries. The economic stability of countries is measured with consideration of various elements such as the general income of the citizens, and also the productivity of various groups and organizations in the nations. The economic contributions of economic institutions such as banks, private and public financial institutions are also used to determine the position of nations’ economic status. The index heritage scale is an essential parameter in determination of a country’s economic position in comparison with other nations across the world. The global economy ranking is therefore achieved after a comprehensive analysis of the economic positions of various countries, and this is with comparison of the pillars of the economy of the respective nations. Poverty, poor health and ignorance are considered to be the fundamental contributors of low index heritage scale due to their negative contributions towards the economy of a country. It is the responsibility of the government and key players in the economy of a country to ensure that the economic strategies and activities that they engage in positively help in eradication of poverty, reduction of ill health and control of unawareness among people and organizations. This paper aims at drawing a comprehensive and evidence-based...
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...Name Professor Institution Course Date Germany and Canada; Why they are different? Introduction The economic status of a country is determined by various factors and various measures that are compared to other countries. The economic stability of countries is measured with consideration of various elements such as the general income of the citizens, and also the productivity of various groups and organizations in the nations. The economic contributions of economic institutions such as banks, private and public financial institutions are also used to determine the position of nations’ economic status. The index heritage scale is an essential parameter in determination of a country’s economic position in comparison with other nations across the world. The global economy ranking is therefore achieved after a comprehensive analysis of the economic positions of various countries, and this is with comparison of the pillars of the economy of the respective nations. Poverty, poor health and ignorance are considered to be the fundamental contributors of low index heritage scale due to their negative contributions towards the economy of a country. It is the responsibility of the government and key players in the economy of a country to ensure that the economic strategies and activities that they engage in positively help in eradication of poverty, reduction of ill health and control of unawareness among people and organizations. This paper aims at drawing a comprehensive and evidence-based...
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...S. made tennis rackets to Germany (in retaliation for anticipated restrictions on the import of German-made goods to the U.S.), a U.S. sporting goods manufacturer expects to create a German subsidiary to manufacture and distribute tennis rackets in Germany. The project life is expected to be two years (at which time, an end to protectionist sentiment in the U.S. will lead to an end to trade restrictions). The required investment in the project is a. DM 25,000,000 in plant and equipment, b. DM 5,000,000 in working capital. The projected after-tax cash flows from the project are DM 20,000,000 for the next two years, in addition to DM5,000,000 from the liquidation of working capital in two years. The spot exchange rate (S$/DM) is $0.6500/DM1 . The interest rate in the U.S. (RUS ) is 6 percent per year while the German interest rate (RDM ) 11 percent per year. Assuming that the firm has a WACC of 12%, showing all calculations indicate whether the project should be accepted. Solution Predicted Exchange Rates If the real rate of interest is the same in all countries (due to the international mobility of capital) the International Fisher Effect implies that differences in nominal interest rates will signal differences in the expected rates of inflation across countries. Given that RUS is 6 percent per year and that the German interest rate RDM is 11 percent per year, we would expect the expected rate of inflation in Germany to be roughly 5 percent greater...
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...KPMG INTERNATIONAL KPMG’s Global Automotive Executive Survey 2012 Managing growth while navigating uncharted routes kpmg.com/automotive II | KPMG’s Global Automotive Executive Survey 2012 Acknowledgements The Global Automotive Executive Survey is KPMG International’s annual assessment of the current state and future prospects of the worldwide automotive industry. In this year’s survey, 200 senior executives from the world’s leading automotive companies were interviewed, including automakers, suppliers, dealers, financial service providers, and for the first time mobility service providers. The responses make for compelling reading and we would like to thank all those who participated for giving us their valuable time. We would also like to acknowledge and thank the following senior executives who participated in in-depth interviews to provide further insight: (Listed alphabetically by organization name) Dr. André Stoffels Head of Strategy Audi Steven Bridgeland Senior Product Manager, Windows Embedded Microsoft Special thanks to Moritz Pawelke, Meghan Bested and Martha Collyer for their efforts. © 2012 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. All rights reserved. Foreword Imagine the following scenario, involving an urban dweller, possibly living in a mega-city like...
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...January 2013 INVESTOR PRESENTATION BMW Group Investor Presentation, January 2013 Page 1 NINE MONTH 2012 RESULTS. in euro million Revenues Profit / loss before financial result (EBIT) Automotive1) Motorcycles Financial Services2) Other entities Eliminations Profit before tax Net profit EPS in euro (common / preferred) Operating cash flow (Automotive) Free cash flow (Automotive)3) Net interest-bearing assets (Automotive) Equity (Group) *) Adjusted 1) 9M-2011 January – September 2012 56,312 6,406 5,548 82 1,291 44 January – September 2011* 50,472 6,358 5,935 62 1,506 -115 Change in % 11.6 0.8 -6.5 32.3 -14.3 - -559 6,040 3,915 5.94 /5.95 6,768 3,840 13,025 28,853 -1,030 6,044 4,028 6.12 / 6.13 6,787 4,055 13,016 26,018 45.7 -0.1 -2.8 -2.9 / -2.9 -0.3 -5.3 0.1 10.9 for effect of change in accounting policy for leased products as described in note 3 on pages 36ff. of the quarterly report to September 30, 2012. EBIT includes a positive effect of € 85 million from the adjustment of residual value risk provisions. 2) EBIT includes a positive effect of € 124 million from better than expected off-lease business (9M-2011 one-effects amounted to € 439 million). 3) Free cash flow includes net investments in marketable securities of € 134 million (€ 839 million in 9M-2011). BMW Group Investor Presentation, January 2013 Page 2 GUIDANCE 2012. BMW Group We aim to achieve a higher full-year Group profit before tax than in 2011. Automotive Segment ...
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... 1. Countries trade with each other because they are _______ and because of ______. A. different, costs B. similar, scale economies C. different, scale economies D. similar, costs E. None of the above. 2. Trade between two countries can benefit both countries if A. each country exports that good in which it has a comparative advantage. B. each country enjoys superior terms of trade. C. each country has a more elastic demand for the imported goods. D. each country has a more elastic supply for the supplied goods. E. Both C and D. 3. The Ricardian theory of comparative advantage states that a country has a comparative advantage in widgets if A. output per worker of widgets is higher in that country. B. that country's exchange rate is low. C. wage rates in that country are high. D. the output per worker of widgets as compared to the output of some other product is higher in that country. E. Both B and C. 4. In order to know whether a country has a comparative advantage in the production of one particular product we need information on at least ____unit labor requirements A. One B. two C. three D. four E. five 5. A country engaging in trade according to the principles of comparative advantage gains from trade because it A. is producing exports indirectly more efficiently than it could alternatively. ...
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...decade impact the unemployment rate in Germany? – A strong flexible labor market When Gerhard Schröder took to the podium in the Bundestag on March 14th, 2003, Germany was called the “sick man of Europe”. A widespread assumption was that unemployment could never be defeated, The Economist Introduction: The German labor market experienced remarkable transitions during the past decade. In the beginning of the millennium, Germany was a country with an unemployment rate (see appendix 1) ranging between 9.5% and 11.5% (Deutsche Bundesbank) with almost 39 million people employed all over the country (see appendix 2). Until the beginning of 2003, the governmental support to unemployed people consisted of three main patterns: unemployment insurance, unemployment assistance, and supplementary social welfare. Supporting these three pillars, Germany was suffering high costs with long-term unemployment benefits, low job acceptance rate and bigger proportion of low-skilled labor. Between 2003 and 2006, the German federal government implemented series of reforms aiming to impact the supply side of labor by increasing incentives for unemployed workers to accept jobs and reducing the level and duration of their benefits. With this research paper, we will analyze the impact of these reforms in the unemployment rate. The Agenda 2010: The agenda 2010 was a series of reforms organized and executed by the federal government SPD and B’90/Greens collation of Germany on March 2003. The goal was to reform...
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...134 129 l Unit sales of Mercedes-Benz Cars Unit sales of Daimler Buses Contract volume of Daimler Financial Services Product responsibility Dr. Cantz’sche Druckerei Medien GmbH (reprography) Bechtle Druck + Service GmbH und Co. KG (printing) Contact j 10,752 CO2 emissions of the European fleet (vehicles from Mercedes-Benz Cars) Mirjam Bendak 129,872 10,815 Group net income Daimler Sustainability Report 2014. Publications Manager Thomas Fröhlich 117,982 8,820 Research and development expenditure on environmental protection For the publisher Daimler AG, Mercedesstraße 137, 70327 Stuttgart, Germany 114,297 in millions of € Profit before taxes on income1 Publisher in millions of € Operating profit/EBIT1 Operations-related environmental protection Daimler AG, HPC E402 70546 Stuttgart Tel. +49 (0) 711 17-0 (headquarters) Fax +49 (0) 711 17-790-95251 E-Mail: sustainability@daimler.com http://sustainability.daimler.com in GWh 10,769 11,059 10,851 l of which electricity in GWh 4,870 4,545 4,586 j of which natural gas in GWh...
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...SURVEY Executive Radar 2011 European Rail Industry WHY PRODUCE AN EXECUTIVE RADAR? As a top strategy consultancy in the rail sector, Roland Berger Strategy Consultants actively supports industry leaders in identifying challenges, uncovering solutions and driving decisive change in their organizations. We have identified a growing need for dialogue amongst senior railway executives regarding the key issues that drive the industry. Therefore, we launched an "Executive Radar" to support executivelevel thinking in the European railway industry. This survey was conducted between July and September 2011, involving more than 150 top industry executives and representing a broad range of segments and positions in the value chain. The survey captured prevailing trends on two hot topics: > How have liberalization and privatization already affected companies along the value chain and what will be the biggest challenges in the coming years? > Which instruments can increase your companies' profitability and strengthen the sustainability of your financial base? Here we present the conclusions and trust you will find them insightful in supporting your strategic thinking and decision making. We would welcome the opportunity to have a more detailed discussion directly with you on any of the issues presented. THE EUROPEAN RAIL PRACTICE MANAGEMENT TEAM Stéphane Albernhe (Paris) Christoph Beseler Didier Bréchemier Francesco Calvi Parisetti Alain d'Oultremont Roland Falb Boris Firsov...
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...International Macroeconomics1 Stephanie Schmitt-Groh´2 e April 26, 2013 Mart´ Uribe3 ın 1 The seeds for this manuscript were lecture notes taken by Alberto Ramos in a course on International Finance that Mike Woodford taught at the University of Chicago in the Winter of 1994. 2 Columbia University. E-mail: stephanie.schmittgrohe@columbia.edu. 3 Columbia University. E-mail: martin.uribe@columbia.edu. ii Contents 1 Global Imbalances 1.1 Balance-of-Payments Accounting . . . . . . . . . . . . . . . . 1.2 The Current Account . . . . . . . . . . . . . . . . . . . . . . 1 1 5 1.3 The Current Account and the Net International Investment Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 1.4 Valuation Changes and the Net International Investment Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 1.5 The Negative-NIIP-Positive-NII Paradox: Dark Matter? 1.5.1 1.5.2 . . 20 Dark Matter . . . . . . . . . . . . . . . . . . . . . . . 22 Return Differentials . . . . . . . . . . . . . . . . . . . 23 1.6 Who Lends and Who Borrows Around the World? . . . . . . 26 1.7 Exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 35 2 Current Account Sustainability 2.1 Can a Country Run a Perpetual Trade Balance Deficit? . . . 35 2.2 Can a Country Run a Perpetual Current Account Deficit? . 39 2.3 Savings, Investment, and the Current Account . . . . . . . . 41 iii iv 2.3.1 CONTENTS Current Account Deficits...
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...connection gives individuals the ability to connect to an online experience that is growing day after day. Users have never been as connected as they are now through this global community. The Internet has given vendors a way to sell products through the means of e-commerce domains, a way for users to stay connected with things like social media and an influx of the many other benefits it has to offer. The benefits alone display the impact the Internet has had on those that have been fortunate enough to be apart of the online community. Even though the Internet has had a profound impact by improving the lives of billions of individuals and being the driving force in business growth and economic development of many countries, the Internets vacancy in many parts of the world has serious consequences for the billions of individuals that are not connected, not to mention the world community as a whole. According to a report by McKinsey & Co. (2014), there are 4.4 billion people that are offline worldwide and 3.4 of those individuals offline live in just 20 countries. These billions of people that cannot access the Internet as easily as those more fortunate suffer from achieving a greater economic standing, education, social mobility, or other benefits that help improve overall life. This is not just a problem for those that aren’t as privileged, but for everyone whether they are connected or not. The input, opinions, and contributions from those who are not connected cannot be made to...
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...old, Casper, WY; Male-Dad, Rheumatoid Arthritis, Good Health * C.K. Cosmetologist, Self-Employed, Secondary Education, 32 years old, Casper, WY; Female-Mom, Crones Disease, Chronic Back Pain, Physically Active, Good Health * B.K. Elementary Student, 6 years old, Casper, WY; Male-Son to R.K., No Health Issues * K.D. Elementary Student, 5 years old, Casper, WY; Female-Daughter to C.K., No Health Issues * K.D. Preschool Student, 4 years old, Casper, WY; Female-Daughter to C.K., No Health Issues Family Form Nuclear Family-Dual Earner/Dual Career (Friedman, Bowden, & Jones, 2003, p. 19) Cultural Background The Family stated they were “white Americans”, English speaking with relatives that immigrated from both Germany and Ireland. Their social circle includes young married couples with children “around the same age as their children”. They describe their neighborhood as clean, quiet, and newly formed. They enjoy attending art culture activities in their community as well as many outdoor activities in the rural areas surrounding their city. Both parents have extended family within the community. Religious Identification The family describes themselves as “Christian” but do not attend church regularly. They have ties with a nondenominational church in town but do not consider this to be a “strong bond”. Although C.K. expressed she wishes they would attend more often and become stronger in their faith, R.K. reports he feels he is “spiritual enough” and...
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...4.3. International Student Mobility and Policy The beginning of international student mobility dated far back in history of Chinese higher education as discussed above. However, international student mobility in its modern form, the first phase of began by the training of over 1000 Chinese students in USA from 1910 to 1940s Hunt,(1972) as in (Zha, Qiang; Wang, 2018). According to this source the second phase span from 1950s to 1960 in which 8208 Chinese students were sent to the then Soviet Union, among them about 70% studies science and engineering related to the manpower need of the country (Zha, Qiang; Wang, 2018:236). Driven by national development agenda Chinese government sponsored study abroad grew unprecedently since the open door economic reform of lat3 1970s. Looking at its trend the priority in destination is changed from the former to western developed countries including USA, UK, Canada, Australia, Germany, France and Japan. As a result, the number of outbound Chinese international student which was 8208 in 1960s, forty years later reached 39000, and ten years later the number grew to 285000 and five years large the number was 524000. Similarly, the first 33 international students from Europe landed in China in 1950 (Pan, 2013) then, fifty years later in 2000 the number of international student in China reached 52150. Ten years later in 2010 the number of international student went up to 265090, five years late it reached 3397635.(E. Tamene et al., 2017).These...
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...>>>>>>>>>>>>>>>>>>>>>>> Dear reader, I am very pleased to present to you our DAAD Ghana newsletter in a new format, though we are maintaining our usual way of informing numerous Ghanaian readers on ‘Study and Research Opportunities in Germany. One of our main objectives is to promote the academic exchange between Ghana and Germany, and so we are happy to inform you that in the year 2009, 176 Ghanaians were sponsored by the DAAD for various programmes. In that same year, some 121 Germans were sponsored for various programmes in Ghana. Data for the 2010 year are not yet available, but since the beginning of this year alone, there have been more than 12 DAAD scholarship awards given to Ghanaian students to pursue various Masters and PhD programmes in Germany. If you want to apply for DAAD funded programmes for the 2012/13 academic year, visit our website or email us. We hope that you will enjoy reading this newsletter in a more comfortable format. Welcome to Germany, the Land of Ideas! Dr. (Mrs.) Heike Edelmann-Okinda Director, DAAD Information Center Accra DAAD Programmes: • • DAAD Information Center, Accra—New Counselling format from 1st April, 2011 Call for Application— Scholarship for Courses with Relevance to Developing Countries 2012/13 Germany - Best Destination for International Students New Member—AGGN • • In this Issue: • • • • • New Leibniz-DAAD Research Fellowship Programme Gerda Henkel Foundation Fellowship Programme International Masters—Water Resources...
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