There is a large trade agreement under negotiation involving major economies around the Pacific. The Trans-Pacific Partnership will include the major economies of and the , while also including the following ten countries: , , , , , , , , and . These twelve countries account for . It has been noted that China has been left out of this partnership because it has been criticized for not following trade rules. In the future, will be able to join the partnership pending compliance to the Trans-Pacific Partnership’s standards.
globalEDGE Blog - Page 152
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continues to slide towards a recession, as more reports from different industries show contraction. One of the more recent, undesirable stories comes from Russia’s auto industry. In the month of March, Russia’s auto industry faced a slew of indicators that reflect a downturn. A consumer report found that car demand decreased, while two of the world’s largest car manufacturers, General Motors based in the and Volkswagen from , announced plans to downsize operations in Russia.
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Japan’s Prime Minister, Shinzo Abe, is set to visit the this week and aims to . Currently, Japanese companies are competing to join three fast-train projects that are under consideration in the United States. The three individual projects would link Los Angeles to San Francisco, New York to Washington, and Dallas to Houston. Abe is hoping to attract an export market for Japan’s advanced bullet-train system in order to help jumpstart the nation’s economy. As of now, he sees the United States as a viable export market for the revolutionary train system.
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Following international sanctions over the crisis and a steep drop in oil prices, economy has been suffering from the effects of an economic downturn in recent months. One of the major industries affected by the economic crisis has been the Russian tourism industry, which has seen an estimated since the beginning of 2014. Spending by Russian tourists has also declined as the financial crisis has deepened, resulting in a during December and a 51% decline in January. The loss of tourists has hurt all facets of the industry, and has forced many businesses to take cost cutting measures.
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In this day and age, the internet is an integral part of everyday life. Many people are dependent on the internet for both their social and work lives. Put simply, many people could not live without the internet. This being said, (roughly 4 billion people) do not access the internet in any way, shape, or form on a regular basis. The leading technology companies (Google, Facebook, etc.) recognize that bringing these 4 billion people “out of the dark” would not only provide , but would also present billions of dollars in untapped revenue for these companies.
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Information Communications Technology (ICT) spending in Australia is forecasted to grow to $49,452.6 million by 2016, . While the market is growing exponentially, Australia is currently facing a shortage of skilled workers in its ICT sector. As I dug deeper into the labor force issue, I found that the future outlook for the Australian ICT industry does not seem as positive as the growth forecast indicates.
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has set a date for the opening of its stock market to foreign investors. The nation’s Capital Market Authority recently announced that the country’s only stock exchange, , will allow direct international purchases of its market shares .
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The thriftily lending of commercial and investment banks to those who borrowed excessive capital from international markets to lend to developers at rates they could not repay caused the to tumble in 2011. Basel III, a voluntary framework on bank capital adequacy, stress testing, and market liquidity risk, seemed to be the regulatory answer by the . It was adopted by all of Spain’s largest lenders and local governments. Their main mission: stabilize the credit markets enough for foreign direct investment (FDI) into the Spanish economy.
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It has been big news in the world economy that is trying to implement a single economic community called the . What does this mean for ASEAN and the entire world economy? The AEC is expected to lead to a single market and production base, a highly competitive economic region, a region of equitable economic development, and a region fully integrated into the global economy.
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Since last year, . This has occurred due to several factors, including decreasing global demand for oil and an increasing supply. Lately, however, demand for crude oil is on the rise and overall output has been growing in major oil-producing nations such as , , and . It is yet to be seen if these events will continue as an industry trend for this year, but a potential change in oil prices could certainly occur.