Global Economies and Markets Discussion Paper

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Activity 1 Team Share and Discuss

In teams discuss the information you found on your initial investigation of several possible locations for the overseas business. Discuss what factors you found will help to narrow down the locations and why. Each member decides on a country for their business expansion. (or teams may choose to work together and choose three countries)

Activity 2 Exchange rates and the foreign exchange market

Based on what you learned about exchange rates, figure the current exchange rate for the countries you investigated.

For more help take a look at the video, How Exchange Rate Works

Decide what effect this will have on your decisions.

Activity 3 Project

Work on focusing the project by further investigation of the countries you have chosen. Add details about the economy, exchange rates, and foreign market.

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Running head: GLOBAL ECONOMIES AND MARKETS GLOBAL ECONOMIES AND MARKETS Name: Institution Affiliation: 1 GLOBAL ECONOMIES AND MARKETS Country Resources in the country, including labor and natural resources Availability of transportation for products and materials Currency and exchange rates Singapore 2 China USA Major economic information on the country Singapore manufactures consumer electronics and semiconductors, machinery, oil bunkers, transport equipment, and ships ("Singapore," n.d.). China is the largest cotton producer in the world; other resources in China are coal, unwrought aluminum, rare earth, rice, and steel products (“China,” n,d.) The USA manufactures Aircraft, motor vehicles and parts, industrial suppliers and materials, crude oil, and fuel oil (“USA,” n.d.). Singapore has only nine airports and 2,218 miles of roadways ("Singapore," 2016). China has 360 airports and 400,000 kilometers of roadways. Of the 400,000 km, approximately 265,000 km are national highways while 118,000 km are expressways(WorldAiport s, 2020) The USA has 19,700 airports where 5,170 airports are open for the general public and 503 for commercial flights and approximately 4,071,000 miles of roads (WorldAiports, 2020). GLOBAL ECONOMIES AND MARKETS Singapore uses the Singapore Dollar as its currency. Singapore currency code is SGD, while the currency symbol is $. 1 SGD = 0.71 US $ (Bloomberg website, n.d.) China uses Yuan as its currency. The currency code is CNY, while the currency symbol is ¥. 1 Chinese Yuan = 0.14 US dollar (Bloomberg website, n.d.) 3 The official currency of the USA is the United States dollar. The currency code is USD, and the currency symbol is US$. Cultural overview of the country Culture or cultures in the country Singapore has different ethnic groups that define the country. The ethnic groups contain Malay, Indian, Chinese, and few Western origins making the country have a mix of customs and culture. This cultural diversification makes to have many languages spoken in the country, such as Malay, Tamil, Mandarin, and English (InternationsGO, 2019). China has 56 ethnic groups, with the largest group being Han Chinese, while other major ethnic groups are the Mongols, Tibetans, Manchus, Hezhen, and Naxi. The country has seven significant dialects, with 71.5 percent speaking Mandarin dialects, 8.5 percent talking Wu, 5% speaking Yue, 4.8% speaking Xiang, 4,1% speaking Min, 3.7% sp[eaking Hakka and finally 2.4% talking Gan ( Zimmermann, 2017). The American country was built on immigration from other nations making the country to have a diverse culture and customs. Several languages are being spoken in the US. However, English is the dominant language in the country. Other spoken dialects within the country are German, Chinese, French, and Spanish (Zimmermann, 2017). Political and social conditions of the country GLOBAL ECONOMIES AND MARKETS Political conditions in the country Singapore is a democratic country with a parliamentary system of democracy where the majority votes elect members of the parliament during the general election. The leader of the political party who gets the majority of votes is allowed by the parliament to be the Prime Ministers and is given the mandate of select ministers from the elected members of parliament to form his cabinet. Singapore’s’ election are done every 5 years (The Commonwealth, 2020). 4 China is a communist country ruled by one political party that only allows limited democracy in the country. The US is a democratic country where the congress, the president and the federal courts share the national government as stated by the constitution of the land. The president is head of the state, and the federal government leader, and commander in chief of the United States Armed Forces. The president can hold an office for not more than two terms (i.e., eight years) (Longley, 2019) Pros and cons to entering this market. Pros Singapore is lovely and has a China is the second- The US government is very stable, good market for investments largest economy in marking its markets to be very durable; due to its robust economy. the world with a very therefore, investing in US markets can Besides, the country has a low stable economy. be predicted. Besides, the US economy tax rate that attracts Reasons why is robust, and investing in their currency international investors. investing in Chinese will result in higher gain. Also, that country's markets can be useful geographical location is is that the country is favorable for investments. leading in science Most importantly, Singapore and technology; has a well functional therefore, the government that is free from business will take corruption. advantage of the best technology. Besides, China has a broader local market for the products produced GLOBAL ECONOMIES AND MARKETS 5 locally or imported, among others. Cons Investing in Singapore China is a communist US-dominated substantial firms making markets can be challenging country is faced with them have a significant market share since labor is restricted; unfamiliar economic internally, this can be very challenging foreign business systems making it for foreign firms starting to invest in the gets Ineffective government hard for foreign US markets. assistance, among others. investors to breakthrough. GLOBAL ECONOMIES AND MARKETS 6 References (, S., 2020. Singapore : Constitution And Politics | The Commonwealth. [online] Available at: [Accessed 14 March 2020]. InternationsGO, 2019. Local Customs And Culture In Singapore | Internations GO!. [online] Available at: [Accessed 14 March 2020]. Longley, R., 2019. The Basic Structure Of The U.S. Federal Government. [online] ThoughtCo. Available at: [Accessed 14 March 2020]. WorldAiports, 2020. List Of Top 40 Airports In US - World Airport Codes. [online] World Airport Codes. Available at: [Accessed 14 March 2020]. Zimmerman, K., 2017. Chinese Culture: Customs & Traditions Of China. [online] Available at: culture.html> [Accessed 14 March 2020].
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