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Cash Crops in AfricaOpen in a New Window

In the last part of this week's series on cash crops, we explore the top two African cash crops. Africa has long been rich in natural resources, consistently providing other nations with opportunities to obtain its plentiful supply of cotton and cocoa—two of the world’s most important cash crops.  According to Merriam-Webster, a cash crop is “a readily salable crop (such as cotton or tobacco) produced or gathered primarily for market.”  These crops aim to...

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Cash Crops in South AmericaOpen in a New Window

This is part four of this week's five-part blog series on cash crops. South America was colonized by the Spanish and the Portuguese.  These colonies were extremely profitable for Spain and Portugal because they could plant crops there that they could not plant in Europe.  This lead to the production of cash crops in South America, such as coffee and sugarcane, to be traded and sold in Europe.  These cash crops played a large role in establishing the colonies in South...

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Illicit Cash Crops: Economic Effects of Illegal Drug MarketsOpen in a New Window

In part three of this week's five-part blog series on cash crops blog, we look at the economic effects of illicit cash crops.  With this month’s blog series focusing on cash crops, globalEDGE has decided to look at the role illicit cash crops play in the global economy. Illicit cash crops are plants that are used in the production of illegal narcotics. With a multibillion-dollar global market, it is unquestionable that illicit cash crops play a significant role in economies...

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Cash Crops Effect in North AmericaOpen in a New Window

Part two of this week's five-part series on cash crops and the impact they have around the world.  Cash crops are a major economic factor in almost every region of the world. In North America, there is a wide variety of cash crops that are grown and sold. The biggest cash crops in modern day America currently are corn and soybeans; which bring in about 50 billion dollars each. However, these fields have been ever-changing for the last two centuries. The first cash crop...

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Cash Crop Blog Series IntroductionOpen in a New Window

This week the globalEDGE blog will look at cash crops around the world.  Cash crops are crops that are grown specifically to be sold in a marketplace or traded; essentially a crop grown not for direct consumption by the farmer.  Cash crops have played a large role in shaping the world throughout history.  A major factor in the colonization of the New World were the dollar signs investors saw in cash crops like tobacco and cotton in the Americas.  The only reason that the New...

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Dr. Verghese Kurien, Amul Dairy Company, and the Rise of India’s Milk ProductionOpen in a New Window

Milk has always been an essential part of India’s culture. In the early 1900’s, India's milk production was incredibly inefficient and was struggling with its limited production of milk. Until one individual, Dr. Verghese Kurien caused a dramatic change in his home country. Dr. Verghese Kurien, known as the Milkman of India, is also a Michigan State University alumnus. Dr. Kurien states himself that Michigan State University provided him with the best education and prepared him...

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Use of Robots In WarehousesOpen in a New Window

Technology is evolving rapidly in many realms of the world. Currently, the light is focused on the use of robots in warehouses. The autonomous mobile robotics (AMR) are emerging worldwide from numerous start-up firms.  Currently, Amazon is the main company producing and using automatic robots. In 2012, Amazon bought Kiva Systems turning their AMRs into their own product and rebranding them as “Amazon Robots”. These robots are said to be the future of factory work. Also,...

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The Economic Impact of Tropical StormsOpen in a New Window

Recently, Hurricanes Irma and Harvey slammed into the coasts of the Caribbean and southern parts of the United States. These destructive tropical storms caused billions of dollars worth of damage combined and displaced millions of families. JP Morgan recently estimated that the insurance industry could lose $10 to 20 billion from Hurricane Harvey alone.     Storms of this nature are frequent in continents around the world including South Asia, the western Pacific Ocean, and the...

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The Evolution of Ledgers: BlockchainOpen in a New Window

Blockchain is a platform where transactions are recorded.  It is an open source available for all parties involved. Participants in each transaction generally have their own ledger; however, Blockchain serves as a shared ledger. It eliminates the need for intermediaries in transactions and reduces the paper process, increasing efficiencies and lowering costs. Blockchain is known for being a platform on which Bitcoin and other cryptocurrencies trade, however, it is not limited to...

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Driverless Cars: the Auto Industry's Next Big DevelopmentOpen in a New Window

Driverless, or autonomous, cars have been in the news a lot this past year.  Essentially it is a car that can drive itself with no help needed from a human driver.  There are many people who believe this is the next big development in the automotive industry.  We are still several years off from driverless cars being fully implemented on the road. According to a plan laid out in the U.K. last year driverless cars are to be implemented fully and on the road by...

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Will Fish be the Next Breakthrough in Healthcare Around the World?Open in a New Window

It is no shock that developing countries have the lowest access to healthcare. According to the Global Economic Symposium, “low and middle-income countries bear 93% of the world´s disease burden, yet account for only 18% of world income and 11% of global health spending.” While this lack of access to medical services is common on the demand side of the healthcare industry due to people not being able to afford the costs of the treatment, another prevalent issue occurs on the...

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Paperless Money Transfers: Changing the Way People Exchange MoneyOpen in a New Window

In the world today, everyone is looking into shortcuts for everything from cooking to driving and now for payment methods. The world as a whole is becoming a paperless society. According to a Business Insider report, more than one trillion dollars are exchanged through peer-to-peer (P2P) payments applications such as Venmo and PayPal. This number is expected to grow exponentially in the next couple of years. Currently, there are 6 major competitors in the P2P payment game. First is...

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Growth in Citizenship by Investment: What it Means for International BusinessOpen in a New Window

The process of acquiring a second passport as means of citizenship is continuing to grow in popularity as more countries establish themselves in the industry. For passport owners, the return on investment ranges from increased access and establishment in new markets to owning luxurious homes in coastal regions. For participating countries, the potential for job creation or financial support is among the benefits. The trend has gained significant traction, climbing to what is...

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Initial Coin Offerings: A Shady Trend in International Capital MarketsOpen in a New Window

Initial Coin Offerings, or ICO’s, are a new and quickly growing way for startups to raise capital. Despite being a relatively new phenomenon the total value of ICO’s has been proliferating with nearly $1.5 billion dollars being raised since the start of the year. That value seems outlandish when compared to the mere $256 million of funding that was raised in the entirety of 2016. While the value of ICO’s has grown nearly six-fold in the past year, many people are still in...

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Effects of Major Hurricanes and Typhoons on Global EconomiesOpen in a New Window

With Hurricane Harvey just recently striking southeastern Texas and part of Louisiana the damage major storms can create is too fresh in our minds.  Images of the submerged houses and destroyed stores fill most news programs in the United States.  Storms like Harvey often cost many people their livelihoods and sometimes even their lives.  The destructive power of a hurricane is even greater than most people realize.  NASA estimates that during a hurricane’s entire life...

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Where do Cryptocurrencies Fall in the International Currency Markets?Open in a New Window

Let’s start with a quick overview of what a cryptocurrency is.  It is a digital currency and is known for its unique feature, in that it is not issued by any central authority, therefore, cannot be controlled and manipulated by any government. Bitcoin is one of the oldest and most popular cryptocurrencies. It, as well as the other cryptocurrencies, are stored and transferred on Blockchain – a peer-to-peer network that validates and records all transaction and is considered...

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The Future of Agriculture in IndiaOpen in a New Window

With the population in India increasing and the need for a sustainable food supply being so important, a multi million dollar investment that is backed by the World Bank has gone into place. The main goal of this initiative is to boost the agricultural industry in India. This goal will be achieved by educating the new generation and equipping them with the skills needed to be successful in agricultural business. The World Bank invested $82.50 million to support agricultural productivity in...

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The globalEDGE Team is Excited to be BackOpen in a New Window

The entire globalEDGE team will be returning tomorrow for another school year. We will resume our regular updates of the site. Also our blog schedule has now shifted to five days a week .  We are all excited to provide you with new content. 

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The United States Begins a Trade Probe Into ChinaOpen in a New Window

On August 18, United States Trade Representative Robert Lighthizer announced a trade probe of China's intellectual property practices. According to the Chicago Tribune, the probe is meant to verify complaints that "Beijing improperly requires foreign companies to hand over technology in exchange for market access." The United States government claims that these allegations amount to serious intellectual property and technology theft, meriting a...

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What's at Stake in the NAFTA Renegotiations?Open in a New Window

The first round of NAFTA renegotiations between the United States, Canada, and Mexico concluded in Washington this past Sunday. Trade representatives from each country began to lay out their goals for a probable update of NAFTA policy. The 24-year-old trade bloc, which was established to eliminate barriers among its three trade partners, has garnered intense backlash in recent years. According to data from the Bureau of Labor Statistics, a third of U.S. manufacturing jobs...

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