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Three Amigos Summit Aims for a Clean Power PledgeOpen in a New Window

On Wednesday, United States President Barack Obama, Canadian Prime Minister Justin Trudeau, and Mexican President Enrique Peña Nieto will meet in Ottawa for the annual North American Leaders' Summit. The meeting, commonly referred to as the Three Amigos Summit, has gathered almost every year since 2005 to discuss strategic cooperation and important economic issues. This year's meeting in particular will prove to be of high significance. The primary objective...

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Theories Behind the Decline in EntrepreneurshipOpen in a New Window

It is well known that entrepreneurship has been declining over the last few decades, but what is the real cause behind it? There are many different theories, from schooling systems, religion, student debt, economic hardships, a change in attitudes, and a more talk, less action society. Since the 1980's, there has been a consistent decline in entrepreneurship among those under 30. There has been a lot of research and many different theories have developed as to what the cause of this...

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UNCTAD and World Investment Forum 2016Open in a New Window

The United Nations (UN) is an international organization made up of over 193 Member States. Founded in 1945, the UN deals with global issues relating to climate change, sustainable development, human rights, terrorism, etc. Kenya, an East-African country bordering the Indian Ocean, joined the United Nations on December 16, 1963. This year, Kenya hosted the United Nations Conference on Trade and Development (UNCTAD) and the biennial World Investment Forum meetings in its capital,...

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India Lessens FDI RestrictionsOpen in a New Window

The Indian Prime Minister Narendra Modi recently announced a relaxation of India's rules regarding foreign ownership of businesses operating in the country. The announcement comes just days after the resignation of the chairman of the country's central bank and has been seen as an attempt at reassuring international markets. Previously, no foreign entity could hold more than a 49% stake in a civilian airline company operating in India. Under the new...

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Will "Made in China" alter to "Made in Africa"Open in a New Window

China has become what Huffington Post refers to as, “the world’s factory”, and has remained one of the top manufacturing countries in the world. However, the Chinese economy is undergoing a drastic change, transforming from manufacturing and big industry to a service based economy. By switching to services, around 85 million jobs will be spread across the globe, and the question rises as to where these jobs are going to be relocated. Chinese investment companies...

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Recent Polls Cause Biggest Daily Increase in British Pound to Dollar Rate in YearsOpen in a New Window

Reassessments on the likelihood of the United Kingdom leaving the European Union has caused a spike in the pound against the dollar. On Monday, the pound was valued at $1.4693—a rise of more than 3 cents—marking the largest one-day gain since 2009. Although the race is close, the jump comes after recent polls suggesting that the UK will remain in the European Union. Financial markets have shown to be more comfortable with the UK remaining in the EU, with the...

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Will Great Britain Leave the European Union?Open in a New Window

The European Union is a political and economic union consisting of 28 European countries. Originally created in 1958 under the name European Economic Community (EEC), the group of countries strictly began as an economic union. However, over time, the EEC started expanding its work into political matters across Europe and, in 1993, the European Economic Community developed into the European Union. Great Britain, one of the countries in the European Union, is now debating on withdrawing its...

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Call Sweden! – The First Country in the World with its Own Phone NumberOpen in a New Window

Sweden is a relatively small but prosperous country which is a part of the Scandinavian countries in the Northern part of Europe. The country itself has about 10 million people (roughly the same as the State of Michigan) and an area size similar to the State of California. While Sweden is a unique, wealthy, and equal opportunity country, it is seldom one of the first countries that people think of or plan to go to when they visit Europe. Now, Sweden wants to change that. “Call...

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New International Tax Changes with BEPSOpen in a New Window

A big topic in finance, and more specifically tax, is base erosion and profit shifting (BEPS). The BEPS project is a way to readjust the taxation of profits with the location of economic activities. The goal is to eliminate incidences of tax avoidance around the world once BEPS is implemented. The OECD, G20, and the United States are currently working together to recommend and propose policies to take place under BEPS. Currently the international business world is in need of tax policies that...

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The Negative Outlook of the Brazil OlympicsOpen in a New Window

The recent resignation of Brazil's tourism minister is another sign that things are not looking good for the upcoming Summer Olympic Games in Rio de Janeiro, Brazil. From political corruption to a spreading virus, the Olympic Games are facing some serious challenges. Ideally, the Olympic Games should bring an economic boost to the host country. Why else would countries all over the world place their bids every four years for a chance to bring the Games to their homeland? However, research...

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Introducing the VAT System into the GCCOpen in a New Window

The Gulf Corporation Council (GCC) countries have come together to reach an agreement regarding implementing the VAT (Value Added Tax) system by the end of 2018. This agreement may come as a surprise to many people, since the GCC region was known for its tax-free perks and massive income from oil. However, the circumstances now prove to be otherwise. The plunge of oil prices since last year has immensely reduced government revenues, making it a necessity for the GCC countries to...

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The Economic Crisis In VenezuelaOpen in a New Window

Venezuela is home to the largest oil reserves in the world. However, the vast amount of oil exports could not save Venezuela from the economic crisis it is now experiencing. The International Monetary Fund has predicted that the overall GDP for Venezuela will fall by 8 percent, and the inflation rate will rise by 720 percent in 2016.  Economic turmoil has caused extensive damage to the country, and Venezuela is in need of change to help save the country from economic...

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Millennial's Attitudes on Business and the WorkplaceOpen in a New Window

Most of us will spend large portions of our lives working, at businesses and companies producing many different goods or services. Attitudes about the workplace, work-life balance, and business can change drastically, depending on where you are and who you are talking to. One factor that accounts for many of these differences is age, especially comparing the so called millennial generation to its predecessors. Globally, millennials have different opinions about the workplace than older...

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NASA and United Arab Emirates Sign AgreementOpen in a New Window

On Sunday, NASA issued a press release announcing they had just signed an agreement with the United Arab Emirates. The agreement signifies cooperation between NASA and the UAE Space Agency in aeronautics research, space exploration, and the peaceful use and habitation of outer space. Other objectives covered by the agreement include collaboration in Earth and space science research, the establishment of educational programs, and outreach to relate the global benefits of space travel....

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5 Favorable Destinations for International BusinessOpen in a New Window

There are many reasons that entrepreneurs choose to move their businesses across the world. Whether it be cost savings, favorable market conditions, geographic advantage, risk diversification, or competiveness, doing business in locations across the globe can prove to be extremely beneficial. Ultimately, this decision depends greatly on the specific needs of a business, which can sometimes be volatile. Here are five locations that are currently favorable for those looking to move their business...

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The New Silk RoadOpen in a New Window

Economists and governments have predominantly been talking about bringing the ancient Silk Road back into the world of trade. Although the Silk Road dates back to 300 BC, it has had a lasting significant impact on stimulating the cities that laid along its trail. This has influenced China to bring the Silk Road back in order to enhance global business. As a result, President Xi Jinping of China launched China’s Silk Road trade in 2014. While ancient Chinese merchants traded spices and...

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Bank Heists Hit at Heart of International Banking StructureOpen in a New Window

Following the loss of over $90 million from two banks, officials around the world are sounding the alarm on an integral part of the day to day operations in the international banking industry. The Swift network was created as a message system for banks to authenticate the transfer of money between accounts internationally. Hackers were able to infiltrate the networks of Bangladesh’s central bank in February and subsequently used Swift to steal $81 million from the central bank’s...

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Takata Airbags Recall: What it Means for ConsumersOpen in a New Window

The recent Takata airbag recall is the largest in United States history with over sixty million recalls. This recall affects numerous car companies, including Toyota, Tesla, BMW, Ford, and Honda, among others. Cars manufactured within the last fifteen years are at risk, therefore, approximately one in five cars on the road today are affected by the recall. With demand for new airbags skyrocketing and supply devastatingly low, drivers are left wondering what to do next....

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U.S. Fed, OECD Warn of Brexit's Negative ImpactsOpen in a New Window

We have already discussed some of the potential negative effects of the United Kingdom's withdrawal from the European Union, specifically on employment throughout the entire EU. The possible adverse consequences were highlighted again by the U.S. Federal Reserve chairwoman Janet Yellen and the Organization for Economic Co-operation and Development (OECD). Janet Yellen advised that if the UK referendum to leave the EU is passed, there would be "significant economic...

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globalEDGE Business Beat: Latest SegmentsOpen in a New Window

Have you visited the globalEDGE Business Beat recently? The Business Beat, hosted by Tomas Hult, is a great way learn about current topics related to international business and covers a wide variety of interesting topics. The latest topics include globalization in the Greater Lansing area, infrastructure development, Vector Marketing, and entrepreneurship. Check out the globalEDGE Business Beat page today!

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