Sunday, March 10, 2019

Global economic development Essay

Evaluation of Gwlads position within the global scotch environment Swot depth psychology (Hewings, 1995) Strengths Gwlad as a clownish should focus on its administrative susceptibility in the public sector. This would cease the atomic number 18a to deli rattling better service to the public in terms of quick processing of documentary and tuition inevitable by the citizens. Secondly, the rural has seems to be unrivaled of the assures in occidental Europe which has highest number of population with diverse cultural activities. The Gwlad sylvans population diverse cultural work attracts a number of tourists.Weakness- the country offers low take aim services. It also shows that it has low manufacturing productions. In the everywhere exclusively results, the country has non developed to high production scale hence in that location is relatively low gross domestic productivity per head. Threats-the fact that the country has no ties with the early(a) neighboring countri es is vulnerable to incur high upshot and exports taxes. Other threats that may exits ar those associated with shortages of vital good which ar not produced locally.Opportunities- the country creation in the region of Western Europe is close likely to be having advanced engine room. This means that the wealthy in applied science base activity can be worked to increase twain the level of manufacturing as well as GDP per head within the country. Suggested policies to attend (Trogen, 1999) Technological policy- the stem needs to utilize this policy in control the problem associated with the low productivity. In such a policy, the teams must violence both(prenominal) on innovation and invention work.Still numerous efforts should look for technical assistance from part of the globe where possible. Competition policy- in each kind of scotch growth of region, amicable environment which allows rival is a must for spurring scotch growth and development. This means that t he local competition environment should be bestowed to all potential citizens in every occurrence sector of production. Apart from the local competitors, the policy should encompass opposite issues that would allow the external competition as part of initiating news ways of scotch growth.activity2 yes The issues that Dai has identified part of the main issues to look when deciding, mart of Gwlad. It is clear that Dai has interpreted location, distance and labor as the main factors to consider in this merchandising st directgy. However, it should be known that security and resources ready(prenominal) within the country plays substantial role in sparing developments. Furthermore, the means of communicating available and the availableness of they location goes hand in hand in determining the affection external dowerors to come and invest in a features region.Overall, it would be very important to first consider the costs involved in the trade of the Gwlad to the external wo rld. While business activities ar diverse, they entail a dish out of interwoven interaction of many sectors. Any decision made within the regimen directly and indirectly affects the performance of the business. This form the fundamental issues as the governance procedure ar final on business prosperity or failure. Hence, incentives and subsidiaries that are offered by the political science in Gwlad perhaps would turn the citizens and the externalers interest to invest much aroused.Politics and policies enacted in the Gwlad also do enormous impact to business. Services and the rate at which they are available to interested business operators are also major part of marketing the state. This is because delay and bureaucracies in service and information acquisition are both derailing factors in business trading operations. Activity 3- (Meier, 2004) (I)-no I do not jib that technological advances are the besides key factors to economic development. There are other issues which are also of great importance.This is because economic development focuses on three or more area in its development. One of the focuses is the giving medication policies. In such a field, economist examines issues which are concerned with determine stabilities, employment and taxation as well as the policies set to gravel sustainable growth. as the economic development protocols are integrations of several factors, government ope order on many areas which are directly in connection with economic development such m unitytary policies, trade transaction and taxation policies unitedly with regulation pertaining to financial institutions.The back major area determining the economic development of a place or region is the manner in which policies dealing with services and infrastructures are set. These include highways, ho utilize, security and still parks. thirdly and the final section in which economic developments is determined is directed to policies of production line creati on, retention and expansion, technology transfers and marketing as well as propinquity development. In such precondition, it is vivid that the economic development is not achieved only through technology advancement.Certain factors are physical factors which are needed for the operations of certain economical activities. Other factors are human ground availabilities like policy making that affects the economic growth of an area. For instance, trade confinement may be major factor contributing to low rates of economic developments due to lack of competitive environments. Abolition o such trade restrictions create a better environment for potential remote investors. Financial factors have been seen as prominent factors that enable economic developments as can be revealed in most developing and underdeveloped countries.Their political scrimping developed rates are not associated with inadequate funding for projects based on economic development and projects on research work which brings virtually technical advances. Thus, human policy factors, financial status factors and technical factors are all attribute to economic development As from the above revelation, I do not agree the three sectors are the essence that economic policy should concentrate in. Energy environmental, tele discourse and ICT are not the sum that can bring economic growth in a country without integrating changes in governance. Management of any organization/ institutions is vital.Thus the inclusion body of effective solicitude and services delivery would enhance straight-laced workout of the resources available in the three sectors which would lead to economic growth. Activity4-(Isard, 1985) analysis of innermost investment funds attraction, domestic social club development and combination strategies Inward investment Strengths- depending on the financial ability of the surrounding neighbor countries, this form one of the greatest strong hold in which the foreigners can capitali zed in. this means that they would be able to provided financial services and their products.Weakness- the fact that the country has got no ties in trade transactions such as bare(a) trades areas with the neighboring states, many inwards investments are likely to be heavily taxed and barred in their operations. Generally, unfair treatment to the inward investors is likely to cause low rate of investment. Opportunities- the fact that most neighbors have advanced technology and also they are able to having greater GDP than the Gwlad, it means that the inwards investment would be able to replicate similar productivity phenomenon making trading a competitive issue in the country.This means that the inward investors would enjoy the advantages of macroscopical scale production (Pleeter,1990) Threats- following the inwards investors interacting with the locals, there is that possible of technology transfer which the local would gain an advantage of learning the new techniques and indeed begin producing local products that would halt the utilization of the investorss products Domestic company development strength- the country seems to be lagging behind in all the areas. This implies it has very limited strengths on which it can take an advantage over its neighbors.(Peterson, 2001) Weakness- the country is portrayed to lag behind in widely distributed productivity which implies that their is low trade activities in the regions Opportunities- the country having a score of knowing individuals within its boundaries can be utilized both in the management level to bring technology to its required standards enhancing production which is a core to level of trade activities in country. Threats- the domestic company development are likely to be threaten when the country goes to inwards investment.The inward investors being more competitive than the domestic companies would render the local companies uncompetitive in terms of graphic symbol of products, price and in market ing strategies. For the above consideration of the analysis, I would choose the combined strategy the main reason for choosing this particular mode is because, with proper policy formulation and enactment for both inherent and external investor companies, there are high chances of mutual benefits. Technology advancement, financial investment availability leading to higher production of the products would enhance the general growth of the economy of the country.Activity 5- (Bulmer-Thomas, 1992, Leistritz, 1991) the GDEADs members are suppositious to come up with policies which would enable low cost in the cut chains. These policies includes- The policy of strategic vision and concrete actions in co direct in the supplying of the material and the distribution of the products to all parts on the country step-down of taxes in the products produced locally the investors study of local infrastructures that will enhance logistics from one area to another Recruitment and training of h uman resources to enable polish up distribution of the products Policies to enable persuasion of U.S multinationals in financing, marketing and R&D in Gwlad The GDEAD must come with policy that allows globalization of market in Gwlad The team should use merger systems of the a few industries so that they begin venturing in to the same market in which the multinationals are operating to break monopoly of the U. S automotive companies. The team should advocate for new methods of technology in information and communication to enhance global advertising both from local and multinational companies. Activity 6- (Dewhurst, 1991) Pros of the EU are that the EU members have several methods in which its negotiations and terms are based.First, the EU group has strong negotiating power than any other union. This means that the pooling together of efforts in the negotiating process makes the members to have great influence in international trade. Its members are said to be first in the leading in foreign direct investment. The united stated are depicted as the second while they remain the first for foreign investment. While the EU operations are undertaken within the 130 countries, it commands a relative open economy that accounts over 14% of the international trade of its gross domestic products.In comparison with the United States gross domestic products, it commands of 12%. It implies that the EU connectedness with the Gwlads is of more advantageous than joining any other of the above state. (Bull, 1995) I would make arrangements of integration type in joining EU for the Gwlad. This because the EU integration would protect the local first and then from the integration the other collaborating states would have an influence in Gwlad in political, security, technology and other areas in which economic issues are connected.He Gwlad would be changed in its institutions through the open up rules and regulations of the EU integration that sets the culture and philosophical basis of government as well as other authoritative bodies which could change economic Institutions. However, free trade would definitely bring in unfair competitions to the locals industries and communities leading to the under the weather performing ones. (Dewhurst, 1991) Activity7- (Grady, 1989) The clusters economic development established in this region is not of best nature. Locating an economic zone farthermost 100km from each other is like creation of monopoly of the various institutions established.Secondly, the interaction of the various institutions when they are far from one and yet they are no quicker means of communication implies less information transfers/ ineffectiveness or delay actions would be frequent. This implies special in the health, bioscience, financial services/ products and professional services. Similar disadvantages would exist in creative, automotive and aerospace zone. However, the distance would be of advantage to automotive and aerospace in for ward-moving the technological world as this would be determined by increase needs to travel from one zone to another.In organizing the above sectors, I will use disaccordent policy as they all differ in the application of creating and reduction economic growth. While the bioscience and the health sectors are there for the purpose of ensuring fitness of the community, the automotives and aerospace are established for livery time in production. Thus health and bioscience would policies towards health facilities and proper nutrition while the latter two would venture policy on technology of speedy safer means. Activity8- (Grady, 1989, Brace, 1993)Costs and benefits of get together the demands of the aerospace industry The costs of the meeting the demands of the aerospace industry involves the productions costs. This would require importation of new materials for the compel of the aerospace device. Second is the tending cost, which will be cut through the use of the correct quality materials. Thirdly is the training cost which will be an essence in having potential skilled human resources and engineers who work on the technological manufacture of the aero plane as well As maintaining them.Finally, the country would have to invest in R &D that would enhance development of modern aerospace using the most advanced technologies than any other competing companies Suggested policy to GDEAD (Hunter, 1999, Walsh, 1996) The GDEAD should come u p with a policy for which given the current financial situation, it would be able to meet the same demands, but through institution arrangement and collaboration with the industry, it would support them in the research work. Reference Brace, P. (1993). State government and economic performance Johns Bull, A.(1995) The economics of travel and tourism Longman. Bulmer-Thomas, V. (1992) Input-output analysis in developing countries Wiley Dewhurst, J. (1991) Regional input-output modeling / new development and interpretation Avebury Grady, D. (1989) Governors and economic development policy vol. 17, pp 870-84 Hewings, G. (1995) Regional input-output analysis, Beverly Hills Sage Publications Hopkins University Press Hunter, K. (1999) Interest groups and state economic development policies Praeger Publishers Isard, W. (1985) Introduction to regional science Prentice Hall.Leistritz, F. (1991) The socioeconomic impact of resource development Westview Press. Meier, G. (2004) Leading issues in economic development. Oxford Peterson, W. (2001) technology, planning, and Development Oxford University Press. Pleeter, Saul (1990). Economic impact analysis Boston Maritinus Nijhoff Publishing Trogen, P. (1999) Which economic development policies work retrieved from http// University Press Walsh, R. (1996) Recreation economic decisions Venture Publishing, Inc www. spaef. com, on 1st December 2008

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