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Category: Business

How Natural Disasters Impact The Local Economy

We may have seen just how disastrous natural calamities are over the years but it does not make us immune to its effects and impact on the people, especially to society at large. It is even worse if it is your hometown that is affected and your family is displaced after being evacuated. Well, safety first, after all. Once the storm has passed, it is time to do a quick reality check and assess just how much damage was done and how to move on from such a tragedy.

The local economy is sure to go down during and soon after any disaster strikes. For example, a hurricane with such power and magnitude as Harvey destroyed many homes/properties, businesses, and infrastructures that will require a lot of money in order to rebuild. And because almost everything was destroyed, the price of staple commodities shoots up until enough supply is replenished to meet the people’s demands. Transportation is challenging as most main roads and highways are either flooded or destroyed and therefore not accessible making food deliveries difficult. As a result, prices will likely go up too. read more

Ebay’s Attempt to Dominate China

Most global businesses today are online businesses. It’s a no brainer considering how digital the world has become. For example, Amazon, Facebook (and most social networking sites), Google, Microsoft, Apple, Samsung, Sony, etc are online brands that have been widely accepted by almost everyone on the planet and their popularity just keeps on growing. The demand for their products and services is so big that they have managed to wipe out most competitions without a sweat at all. While most of these brands are success stories, it is not always the case.

Take for instance eBay’s attempt to penetrate the Chinese market. We all know how big of a company eBay is in the Western Hemisphere and just how big and powerful a country China is. Unfortunately, this US-based multinational e-commerce corporation failed to establish their business in “The Land of the Red Dragon” as early as 2002 because they have little understanding of how the Chinese deals with business. It’s also worth pointing out that the government is pretty much involved in all the affairs of its people even if it is a private company or corporation and perhaps was also a factor to the company’s failure. Jobs weren’t an issue. read more

Possible Business Changes Shakes American Entrepreneurs

No man is an island. How many times have we heard that before? Nobody can exist alone. It’s the same thing to our society. Nations work with other nations in making the world go round. From sharing the world’s resources (at a cost, though) to trading with one another, we all make allies to help the country provide everything it needs for all the citizens of the land and it is actually a never-ending process. Some nations will cease to work alongside a certain country for various reasons, though, and it may unnecessarily cause a strain that can impact the lives of those affected and affect the overall economy as well. read more