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Job Growth in the Renewable Energy IndustryOpen in a New Window

On Wednesday, the International Renewable Energy Agency (IRENA) released a report detailing trends in the renewable energy job market. Worldwide, renewable energy employed 9.8 million people last year, which is nearly twice as many compared to 2012. Wind jobs specifically grew by 28%. As global leaders, Brazil, China, Germany, India, Japan, and the United States have the highest number of renewable jobs. Global energy job growth has slowed down in recent years following solar energy...

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Business Hindi Resource GuideOpen in a New Window

The globalEDGE team is excited to share the new Business Hindi Resource Guide. The project, funded by a grant from the MSU International Business Center (MSU-CIBER), was developed by the MSU Center for Language Teaching Advancement (CeLTA) to provide students applying for jobs and internships in India with necessary cultural and linguistic tools. The guide contains seven modules, covering topics such as socio-cultural etiquette, conversations in socio-business situations, business culture...

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Saudi Arabia and the United States Sign Multi-Billion Dollar Arms DealsOpen in a New Window

On May 19, United States President Donald Trump embarked on his first series of foreign trips for the current presidential term. His first stop was Riyadh, the capital of Saudi Arabia, where he met with King Salman bin Abdulaziz, Crown Prince Muhammad bin Nayef, and other members of the Saudi royal family. During the two-day visit, President Trump and King Salman signed arm deals worth an immediate total of $110 billion, with additional promises of further investment over...

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Is Circularity Possible in the Global Fashion Industry?Open in a New Window

The fifth Copenhagen Fashion Summit took place on Thursday, May 11 to address sustainable development in the fashion industry. Influential representatives from apparel and textiles and retail companies spoke at the event, including the chairman of the board and interim CEO of Tiffany & Co, the President of Global Sourcing at Target, the CFO of Tommy Hilfiger Global and PVH, and the head of sustainability at H&M. Eva Kruse, the CEO of the Global Fashion Agenda (GFA) explained how...

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Partnerships are Crucial in the Battle Against Product CounterfeitsOpen in a New Window

Counterfeit goods today are found throughout the world; wherever a demand for a product exists, counterfeiters quickly fill the niche. Counterfeiters compete undetected with brand owners, undermine brand profitability, fund the underground economy, and undermine brand reputation. A brand’s long-term success depends on protecting its integrity. Brand owners who do not believe they have a counterfeiting problem likely have not looked. ANY branded product can be counterfeited. Brand...

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China and the U.S. Sign New Trade AgreementOpen in a New Window

On Thursday, the U.S. Department of Commerce announced that China and the United States had signed a new trade agreement, named the U.S.-China Comprehensive Economic Dialogue. The trade agreement is a result of ongoing negotiations between the two countries following a meeting between U.S. President Trump and Chinese President Xi Jinping in April. This 100-day action plan contains 10-points to be implemented by both China and the United States. For the United States, the agreement is part...

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The Changing Music IndustryOpen in a New Window

In the last blog of the leisure industry series, we take a look at the changing music industry. In previous blog posts, we have analyzed the state of the global music industry, noting the dominance of streaming services as the default method for popular music consumption. As rates from digital and physical music sales remain in decline, revenues from streaming services have risen sharply: worldwide streaming revenues hit a new high of $5.4 billion in 2016. Major services...

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The Business of SportOpen in a New Window

Part four of this week's blog series explores current events in the sports sector of the leisure industry.  A few trends are expected to drive the sports industry in 2017 such as the rapid change in the sports media landscape of content creation and distribution rights due to consumers shifting from cable to digital media. Other trends expected are innovation for game days by enhancing the fan experience outside of the sports venue and the use of augmented and virtual reality to...

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The Changing Environment of the Global Film IndustryOpen in a New Window

Part three of our transport manufacturing blog series examines recent trends in the global film industry.  In recent years, the global film industry has undergone major changes due to increased globalization and the overall growth of the middle class. In the past, two-thirds of box office revenue was generated by the United States alone, but this is no longer the case. Today, 70% of this revenue is generated outside of the U.S., and this is leading to major changes in the way that films...

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Global Recreation and TourismOpen in a New Window

In part two of this week's leisure industry blog series, we look at current trends in the global recreation and tourism sector. Recreation and tourism have become a fundamental fraction of economies worldwide. The outdoor industry has become a massive economic force, and it is happening in countries all around the world. According to a 2014 study, in the United States alone, an estimated of 29.7 billion dollars in economic activity and nearly 277,000 jobs came from the pockets of...

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Leisure Industry Blog Series IntroductionOpen in a New Window

This week, the globalEDGE blog is taking a look at the leisure industry. Each day, our blog series will explore different areas of the global leisure industry, which includes recreation, entertainment, sports, and tourism. Globally, the industry encompasses a wide variety of businesses and companies, from major hotel and resort companies with locations around the world to small mom and pop shops. With the many sectors and businesses, the industry has a major impact on many economies across the...

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Xiongan Area in China to Become Newest Special Economic ZoneOpen in a New Window

The Xiongan area outside of Beijing has been deemed the newest special economic zone (SEZ) by the Chinese government. Compared to other countries, China has been the most successful in using SEZs to spur investment and growth—specifically by attracting foreign capital. For example, Shanghai's Pudong New Area was established in the early 1900's and is now the nations hub for financial business. However, there are also significant concerns when establishing a...

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How will Ongoing Demographic Changes Effect Economic Performance?Open in a New Window

The world is going through a major demographic transition. Population growth is decreasing around the world, while the age distribution is leaning towards the elderly. But how would this alter any economy? Population growth plays a key role in every economy in the world, where a lower population growth rate means that there will be fewer workers and consumers. An aging population would lead to a smaller working-age population, which would decrease the growth of the labor force. Both of...

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Artificial Intelligence's Impact on Global BusinessOpen in a New Window

According to Kai-Fu Lee, the founder of venture capital firm Sinovation Ventures, robots are likely to replace 50% of all jobs in the next decades. Lee expects this to be the next revolution in the technology industry, even bigger than electricity, the industrial revolution, or internet. Lee has previously held high executive positions with companies including Google, Apple, and Microsoft. When asked if humans will still have a role in the world with machines growing more intelligent, Lee...

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What's Next for NAFTA?Open in a New Window

On April 26, United States President Donald Trump announced plans to "re-negotiate" the terms of the North American Free Trade Agreement (NAFTA) with Canada and Mexico. As related in a White House press release, the administration had intended to completely withdraw the U.S. from the trade deal, but was dissuaded from doing following conversations with Canadian Prime Minister Justin Trudeau and Mexican President Peña Nieto. At present, NAFTA stands...

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Outlook on the Retail Industry for 2017Open in a New Window

Large consumer good staple companies have been impacted by slower sales at the end of the first quarter of 2017. Companies in the food beverage and consumer staples segments are being hard pressed to adapt to changing tastes, while other large companies are losing market share to technologically adept disrupters. A part of the lag can be attributed to slower economic growth towards the end of the last quarter of 2016, and economists are forecasting that GDP will only increase by 1...

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WTO, IMF Expect Global Trade Growth in 2017Open in a New Window

Recent reports published by the World Trade Organization (WTO) have forecast a remarkable recovery in global merchandise trade for 2017. Last year, global merchandise trade failed to reach its projected growth of 1.7%, ending the year with a growth of 1.3%, marking 2016 with the slowest growth since the financial crisis. Among other indicators, WTO Director General Roberto Azevedo blamed the poor performance in 2016 on the slowdown in emerging markets, stating that imports...

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Why Our Skies Are So CrowdedOpen in a New Window

Flights have increased and ticket prices have gone down. In the past recent years, airlines have experienced a higher demand in their market than ever before. This is partially due to the decline in ticket prices. The decrease in ticket prices has made flying more affordable for more people, however there are also some downsides. Low airfare has in fact increased some aspects of airline service. Flights have been arriving on time more, luggage tracking has become more efficient, and...

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How Investment and Spending Trends Change as the World AgesOpen in a New Window

The Life Cycle Hypothesis (LCH) is an economic model developed by famed economist Franco Modigliani in the early 1950’s, which attempts to explain the saving and consumption patterns of individuals over their lifetime. The crux of the hypothesis is that by assuming all individuals maintain stable lifestyles, they will plan to even out their consumption as best they can over their lifetime. This implies that an individual will transition through multiple phases of saving and consumption...

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Falling Oil Prices Seriously Threatens Global EconomiesOpen in a New Window

Oil prices worldwide are in decline. Much of the decline in oil prices has been contributed to rising oil production in the United States. To combat this it is expected that OPEC will decide to continue its cap on oil production at their meeting in May. As recently as one week ago it was reported that Saudi Arabia was gathering support from other OPEC countries in extending their cap on production. Many countries need a higher crude oil price to have a strong economy. The five...

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