The concept of competitive advantage was introduced in 1985 by Michael Porter a great writer and a teacher. The fascinating part of Theory of Competitive Advantage is that it can not only be applied to business scenarios but can be implemented in our personal life to make an outstanding career progression.
Sub prime crisis continues to feature in numerous books, journals and blogs almost every single day. Out of all the brilliant reads available on this subject, for further reading we would certainly recommend reading Michael Lewis's mesmerizing narration and description of this gigantic event.
Theoretically speaking the floating exchange rate system lets the market forces determine the exchange rates, however in the real world scenario none of the economies leave the exchange rates at the mercy of market forces but do intervene through regulatory and monetary measures.
It is ironical that 10 out of 12 Oil exporting countries that relentlessly facilitate growth, progress and prosperity to the world are in turmoil and utter poverty. ‘A steady income to producers’ – this mission is far from being accomplished. Today, Oil exporting countries have unusually high poverty rates, poor health care, high rates of child mortality, and poor educational performance
The ongoing euro crisis is a combination of two major factors – high debt and slow growth (GDP). These two factors are interconnected as well as heavily interdependent and the adverse effects on the economy are compounded. In spite of bold and tireless efforts on part of the European union and International Monetary Fund, Ireland, Italy and Spain have reported a negative GDP growth in quarter II 2013.
China was the first country to realize that barter may not be able to suffice the household demand entirely as there were instances of produce returned un-exchanged as all one produces may not be required or exchanged. So China pioneered a medium of exchange in 1200 BC, it introduced cowrie shells as currency.
Trade deficit in its simplest form is the value of goods and services exported minus the value of goods and services imported. United States Current Account balance as of 1st quarter 2013 is at -$106.1 billion which is approximately 4% worse than the 4th quarter 2012.