The service sector‚ also called the tertiary sector‚ is one of the three parts of the economy in the Three-sector hypothesis. This hypothesis breaks the economy into three main areas so it can be better understood. The other two are the primary sector‚ which covers areas such as farming‚ mining and fishing; and the secondary sector which covers manufacturing and making things. The service sector provides a service‚ not an actual product that could be held in your hand. Activities in the service
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Southeast Asia‚ it’s very hard to come to an exact answer on who was the first set of people to inhabitant that country. It’s hard to say because in the first century India and China began a trade route with Burma further east in Vietnam. There are many things that caused Southeast Asia to become a colony. The main thing was that the Europeans needed spices and the only way they could get it in that time was to colonize Southeast Asia. The Europeans treated them in a mutual way you could say. It
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Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance∗ Laura Alfaro† Harvard Business School and NBER Maggie Chen‡ George Washington University July 2011 Abstract We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset‚ we investigate how multinational subsidiaries around the world responded to the crisis relative
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the Asian currency crisis? In mid 1997‚ a financial crisis gripped most of the Asian countries and raised fears of a worldwide economic meltdown due to a financial contagion‚ a scenario that initially affects only a particular region of the economy that spreads to other countries whose economies were healthy‚ much like a transmitted disease. See‚ Asia attracted almost half the total capital inflow into developing countries because of the high interest rates maintained by the Southeast Asian economy
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Current Global Economy The current global economy has become a level playing field for all countries on account of the domino effect of “globalization.” Healthy interaction between the developed and the developing countries in the field of trade and the exchange of technological know - how has helped the global economy prosper remarkably. There has been a significant growth of real Gross Domestic Product (GDP) in most countries of the world and a consequent rise in the global income levels
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needed currency stability in the post-war era. Under the system‚ all currencies were pegged to gold and since USA has 70% of gold reserves‚ the USD became a de facto currency of the world– 35USD to one troy ounce of gold. As gold prices does not fluctuate‚ the BWS provided a much-needed stability for monetary flows and thus the world saw an increase in trade and economic growth. It also created open markets to combat economic nationalism which was widely implemented by other countries and was detrimental
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advanced economies‚ that started around mid-2007‚ has exacerbated substantially since August 2008. The financial market crisis has led to the collapse of major financial institutions and is now beginning to impact the real economy in the advanced economies. As this crisis is unfolding‚ credit markets appear to be drying up in the developed world India‚ like most other emerging market economies‚ has so far‚ not been seriously affected by the recent financial turmoil in developed economies The global
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UNIVERSITY OF LA VERNE La Verne‚ California Hollister Co. Business Feasibility Study Bus 581 – Managing in a Global Economy Dr. Omid E. Furutan Group 2 Wenjia Li Li Ji Kun-Yi Lin Hsiang-Yi Liu Xing Long October‚ 2012 Table of content Hollister Co. Business Overview 4 Foreign market expanding motivation 4 Three countries study: Japan‚ Singapore and Hong Kong 6 Japan 6 Singapore 9
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exhausted one day. This phenomenon is called “the global oil crisis”. According to a theory by King (1956)‚ all nations around the world will face an oil production crisis following a bell shaped curve based on the limits of exploitability and market pressure. Of course‚ not every nation will be faced with “Peak Oil”‚ it is based on the individual nation’s perspective and calculation of understanding peak oil. There are three main contributing factors that have caused this current global oil crisis: political
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Currency war between China and USA and its global impacts on economy. Currency War: Currency war‚ also known as competitive devaluation‚ is a condition in international affairs where countries compete against each other to achieve a relatively low exchange rate for their own currency. As the price to buy a particular currency falls so too does the real price of exports from the country. Imports become more expensive too‚ so domestic industry‚ and thus employment‚ receives a boost in demand
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