Globalization: Earning and Spending
Introduction to Global Economic Relations
Global economics are about more than just the monetary exchange of goods and services that commonly come to peoples’ minds when they hear the term. The way the world functions in terms of economic relationships between and within countries is what allows for an adaptable, globalized, and harmonic world system. The mutually beneficial relationships between countries, such as Western companies building factories in Africa and Chinese toy markets in India, allow for economies to flourish. Newly found wealth and status often evoke a sense of superiority such can be seen through the influx of Chinese tourists in Europe and the appeal of Mongolia to outsider nations. The …show more content…
Tax issues like these hinder natives from being able to succeed and allow for outsiders to take away advantage. These mistakes are inexcusable and unless they’re fixed economic growth in Mongolia will come to a halt.
Another country that has been having trouble keeping up with growth of the global economy is Africa. Simon Akam discusses his experience in Sierra Leone in his article “The Long and Winding Road”. According to Akam, “It is nearly impossible to conduct business transactions in an environment without trust” and trust is hard to come by in Sierra Leone” (Akam 265). Like in Mongolia, there are very little rules and regulations when it come to commerce. It’s one word against another and that definitely hinders economic growth.
Spreading The Wealth
When one country is severely struggling there’s almost always another ready to help but to what extend does the charity actually help? The owner of Oliberté, Dehtiar, discuses another shoe company, TOMS, who claims to give one pair of shoes to a child in need for every pair they sell. Dehtiar believes that this one for one model is a good way to create awareness but does little to actually help. Giving shoes to those in poverty creates issues for local shoemakers and vendors and thus hurts the local
Introduction to Global Economic Relations
Global economics are about more than just the monetary exchange of goods and services that commonly come to peoples’ minds when they hear the term. The way the world functions in terms of economic relationships between and within countries is what allows for an adaptable, globalized, and harmonic world system. The mutually beneficial relationships between countries, such as Western companies building factories in Africa and Chinese toy markets in India, allow for economies to flourish. Newly found wealth and status often evoke a sense of superiority such can be seen through the influx of Chinese tourists in Europe and the appeal of Mongolia to outsider nations. The …show more content…
Tax issues like these hinder natives from being able to succeed and allow for outsiders to take away advantage. These mistakes are inexcusable and unless they’re fixed economic growth in Mongolia will come to a halt.
Another country that has been having trouble keeping up with growth of the global economy is Africa. Simon Akam discusses his experience in Sierra Leone in his article “The Long and Winding Road”. According to Akam, “It is nearly impossible to conduct business transactions in an environment without trust” and trust is hard to come by in Sierra Leone” (Akam 265). Like in Mongolia, there are very little rules and regulations when it come to commerce. It’s one word against another and that definitely hinders economic growth.
Spreading The Wealth
When one country is severely struggling there’s almost always another ready to help but to what extend does the charity actually help? The owner of Oliberté, Dehtiar, discuses another shoe company, TOMS, who claims to give one pair of shoes to a child in need for every pair they sell. Dehtiar believes that this one for one model is a good way to create awareness but does little to actually help. Giving shoes to those in poverty creates issues for local shoemakers and vendors and thus hurts the local