Scrapbook Assignment IB - Slides

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McMaster University *

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1BB3

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Economics

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Feb 20, 2024

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lide # 8#hapter 1: What is rade ---- ±rticle 1: hreat of Vaccine ``ationalism... 3-5 8#hapter 2: rade in the __odern World ---- ±rticle 2: 7iden einstates ariffs 8#hapter 8: YYogistics ---- ±rticle 5: __ass Vaccination ites = caling up YYogistics 8#oordination 8#hapter 2: rade in the __odern World + 8#hapter 4: B-conomics & olitics ---- ±rticle 3: __yanmar 8#oup >)ampen rade 8#hapter 6: 8# & 8#orporations urpose ---- ±rticle 4: 8#B-ff 8#ommiting to 8#lean B-nergy Work 8#ited 6-8 9-11 12-14 15-17 18-19 ±7kZYZB1 gfgägVE 8'gfgäga`a B1a`a

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'&s countries scramble to secure valuable resources° vaccine protectionism is becoming less of a threat and more reality± 7he *uropean 8nion using emergency 'rexit measures to restrict exports of (ovid²³ vaccines from crossing the .rish border into the 8. is the latest example± 7his nationalism will cause long term harm in the global response to the pandemic° for instance° exacerbating inequalities lower²income countries already face in terms of acquiring doses± 7he notion of manufacturing these vaccines domestically is complicated and basically unachievable since (anada does not have the large²scale manufacturing capacity± 7he rollout of these vaccines will not proceed without issues because of supply chains° competition and trade issues± :e must attempt for a co²operative solution± q`_`q`_`± ĵ¸··

8#hapter 1 ²į²±±ććłÅÄÄt Ċs rłÅÄÄèççëë? ,lobalization )eglobalization .nterdependence +oreign )irect .nvestment 3roduction 'ranch 3lant *conomy 6econdary 0anufacturing 6ector )omestic 0arket +oreign 0arket *conomic )estabilization ,lobalization is a process whereby national or regional economies become interdependent through foreign direct investment° trade and the flow of money± *verything from the intensity in which the (oronavirus spread° to our ability to outsource production of the vaccine is a result of globalization± '&s globalization increases° the interdependence of nations follows suit± .nterdependence is the reliance of two or more nations on each other for products and services± 7his article details the dangers of reliance on foreign markets in the manufacturing sector± 7hey focused° in particular° on our reliance on the *uropean 8nion to produce and supply these vaccines"! this is a clear cut example of interdependence between countries± 5elying on foreign markets for jobs and all the processing and manufacturing of the products a country’s domestic market uses to make that nation a branch plant economy± (anada is a perfect example of a branch plant economy± 7his dependence on foreign ownership has led to a weak secondary manufacturing sector± 7herefore° (anada does not currently have the infrastructure or the manufacturing capacity in place to quickly and safely produce and distribute a vaccine in its domestic market± 7herefore° we become vulnerable to economic destabilization and political instability in other countries± 7hese disadvantages° however° do not completely take away from the advantages of globalization° as the article says° “we´re all going to be better off if we choose a co²operative solution”± -ence° the solution° at least for this particular issue° would not be to deglobalize but to choose international cooperation over nationalism± 8'gfgäga`aa`aB18' Xgfgäga`a gfgäg a`aX B1 q`_`

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+ebruary ³st° only a week and a half after his inauguration° president -oe 'iden reinstated tariffs on aluminum exported from the 8nited '&rab *mirates± -is top officials stated that the administration plans to carry out a comprehensive review on the economic effects of the tariffs former president )onald 7rump imposed± -owever° this decision is one of his first significant moves on trade and suggests that his administration may be inclined to maintain the hefty tariffs on foreign metals± /ikewise° 'iden views imports from the 8'&* as a threat to national security since it may still displace domestic production± 'iden’s decision sparked an outcry from manufacturers that use steel and aluminum± q`_`q`_`± ĵ¸·· ±na wanson - VABeb 2, 2021

8#hapter 2 rłÅÄÄèççëë Ċn tććëë q`_`oèççëërn ²į²±±orĠèçç 7his article details the 8nited 6tates’ protectionist measures against foreign metals° specifically° the government’s decision to reinstate trade barriers against the 8nited '&rab *mirates± .n chapter two° trade in the modern world° we learned about why businesses import goods and how it might affect the domestic economy± 0anufacturers in the 8nited 6tates participate in global sourcing ² the process of buying goods° raw materials° or services from around the world² by importing aluminum from producers in the 8'&*± 7hey choose to import these goods from the 8'&* since they are cheap and readily available± '&merican aluminum producers° however° are struggling to compete with these low²priced foreign products and have been forced to shut down many domestic smelters± :e continued on to learn what governments can do to protect local businesses° and generate revenue through trade barriers± 7his article demonstrates this type of shielding± +ormer 3resident 7rump and current 3resident 'iden both believe that by putting '&merican aluminum producers out of business° aluminum imports from the 8'&* threatened national security± .n an attempt to protect local producers from this foreign competition the domestic government decided to reinstate tariffs to make local producers’ goods more competitively priced± 7he winners in this situation are the domestic government° local producers° and local employees± 7he losers are local manufacturers ² the tariffs have increased their costs° narrowing their profit margins° making it more difficult for their products to compete on the global market± 8'gfgäga`aa`aB18' Xgfgäga`a gfgäg a`aX 3rotectionism 0anufacturers ,lobal 6ourcing .mporting 7rade 'arriers 6hielding 3roducers +oreign (ompetition )omestic ,ov’t 7ariffs B1 q`_`

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'etween µ¶³ and µ¶µ¶° total trade in goods between 0yanmar and the 8nited 6tates increased by ·³¶¶ million± .n the same time period° 7he :orld 'ank reported a ¸¸¹ jump in total foreign direct investment commitments in 0yanmar to ·º±º billion in fiscal year µ¶³ »µ¶µ¶± -owever° this progress is expected to change± 0yanmar´s army handed power to the military chief and imposed a year²long state of emergency± 7he move sparked condemnation from :estern leaders° which° will complicate trade relations± '&s a result° 86 companies could opt to pull out of 0yanmar± 7his coup will likely dampen the country´s foregin investments from the 86 and western companies which will° in the long run° take away from their economic progress± q`_`q`_`± ĵ¸··

8#hapter 2 rłÅÄÄèççëë Ċn q`_`.²į²±± 8#hapter 4 B1âááonomĊâáás & oĠĊtĊâáás .n chapter four° economic and politics° we discussed political instability risk which is when political violence can damage or destroy a business climate± 7his ends up affecting the profitability of the business± 7he coup in 0yanmar affected it’s political system° shifting from a democratic government towards an autocracy± '&s a result° the country became a political instability risk± 7his risk rendered investment less attractive for western firms and pushes any already established foreign investment out± 7he article gave examples of the company° -¼0° who is currently facing the political instability risk since their sourcing strategies are based there± '&dditionally° the shift away from a democratic government led to a threat of renewed sanctions by the 86 government± 7his is a concept discussed in chapter two° governments impose sanctions for a variety of political° military° and social issues± 7hese sanctions are applied by one or more countries against a targeted self²governing state° group° or individual± 0uch of the economic progress made because of foreign investments and international trade might all go down the drain as soon as they became a political instability risk and shifted away from a democratic government± 8'gfgäga`aa`aB18' Xgfgäga`a gfgäg a`aX 3olitical .nstability 5isk 3olitical 6ystem )emocratic ,overnment '&utocracy +oreign .nvestment 6anctions .nternational 7rade B1 q`_`

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(*2 of .berdrola° -ose ,alan° challenged traditional industry models and committed to a growth strategy based on clean energy in hopes of a better future± .n recent years they have been rewarded for their foresight with having grown from about the µ¶th²largest worldwide electric utility to the third²largest wind energy company in the world± 5emaking a companies strategy in a way that benefits all stakeholders and promotes more²sustainable living will lead to an increase in profits ½company growth»shareholder returns¾° support industry and economic growth by creating jobs and a stronger workforce and creating a safer world± 1 q`_`q`_`± ĵ¸·· HIarvard 7usiness eview - ffct 20, 2020

8#hapter 6 8' & ććëë 8'orporłÅÄÄtĊons urposëë .n chapter six we discussed corporate social responsibility± 6ome of the main forms of (65 were being environmentally conscious and creating and promoting diverse workplaces± 7his corporation is doing exactly that by committing to clean energy± 7hroughout the article° the (*2 of this company explains the steps he took to completely shift their vision in favour of clean energy± -e mentions° consistently° the importance of “putting sustainability and a future orientation at the forefront of strategy is both an obligation and an opportunity”± 'y obligation° he means the responsibilities and purpose of a corporation and by opportunity° one can refer to the benefits of (65 detailed in the textbook± -e believes that a corporation´s purpose is to provide services and»or products ethically and sustainably that will positively benefit ½create value¾ for '&// its stakeholders '&1) shareholders± -e explains how socially responsible practices like clean energy and sustainability contribute to that purpose and create that value in the form of opportunities for both primary and secondary stakeholders and its shareholders± +or one° by participating in sustainable development ² the ability to meet human consumption while maintaining the environment ² they will have a competitive advantage ½ brand differentiation±¾ 7his unique selling proposition will attract attention and build brand equity ² loyalty° reputation and attractiveness± 7he article further proves this point° “our net profit of €¸±¿ billion in µ¶³ represents a fivefold increase since µ¶¶³± .n fact° since µ¶¶³ the total return for shareholders has been about À³º¹”± 1ot only are they more profitable and created value for their shareholders° but they are also creating opportunities for their stakeholders by creating a stronger workforce° a cleaner operation° opening up research facilities and sponsoring students to further their business development± 8'gfgäga`aa`aB18' Xgfgäga`a gfgäg a`aX (orporate 6ocial 5esponsibility (orporations 3urpose 6takeholders 6hareholders 6ustainable )evelopment 'rand )ifferentiation 8nique 6elling 3roposition 'rand *quity 'usiness )evelopment B1 q`_`

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6peeding up the pace of vaccination distribution through mass inoculation sites will require far greater logistics coordination across supply²chain° public groups and public²health experts than ever before± :hat this means is orchestrating and tracking supply chains± :hen setting up vaccination clinics° they must see where the demand is and then provide the necessary supplies to meet that demand± 7he vaccination locations must be large enough to accommodate large numbers of people while maintaining social distancing± :hile some health departments are capable of setting up mass vaccination sites by themselves° others might need information technology help them in their effectiveness± 7hey are often overwhelmed appointment systems° or assistance with planning and sourcing the labour° supplies and procedures needed to administer hundreds of shots a day± ± q`_`q`_`± ĵ¸·· VUUennifer mith - VUUan 30, 2021

8#hapter 8 kZYZoāāĊstĊâáás .n chapter eight° we discussed logistics and supply chains± 7his article details yet another step ² setting up vaccination sites ² for the logistic coordinators attempting to disperse doses and manage the production of the vaccine± '&ccording to this chapter° logistics includes the way resources are obtained° stored and moved± 7he article details this process in terms of the vaccine± 7hey must provide a range of medical equipment ² syringes° personal protective equipment° and managing the fragile vaccines outside health institutions± /ogistics also includes the locations where they were from ½the point of origin¾ to the point of consumption and everything in between± 7he point of consumption are these vaccination sited and logistic coordinators must work backwards to identify the need and provide forecasts to drug distributors and manufacturers± 6etting up these sites would also mean mobilizing trained workers° providing them with schedules and their vaccines and equipment to make sure they’re safe± '&ll of the activities involved in moving any materials»goods needed from the organization to the end consumer° this is known as the supply chain± 3hysical distribution is part of a supply chain± .n this case° logistical coordinators need to buy special freezers to safely store doses at ultralow temperatures± 7hey must use transportation methods such as air or motorized carriers involved in the freezers outbound distribution± 7hey must installed large freezers at a central distribution hubs and use portable freezers for transport and smaller versions for storage at clinics± 7his article is a snapshot of the coronavirus logistical operation± 8'gfgäga`aa`aB18' Xgfgäga`a gfgäg a`aX /ogistics 6upply (hain 7ransportation 0ethods 0otorized (arriers '&ir 2utbound )istribution B1 q`_`

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6mith° -ennifer± “0ass 9accination 6ites :ill 0ean 6caling 8p /ogistics (oordination±” <;:ONNNLKKK ?>=HGGRRRQRRRQ ;:ZZYZXXWXLKKKLKKKZZYZ 2UUUTU[[Z[XXWXTTTSHGGRRRQ ° )ow -ones ¼ (ompany° ¸¶ -an± µ¶µ³° www±wsj±com»articles»mass²vaccination²sites²will²mean²scaling²up²logistics²coordination²³³Á³µ¶¶¿¿¶¶± 6wanson° '&na± “'iden 5einstates '&luminum 7ariffs in 2ne of -is +irst 7rade 0oves±” <;:ONNNLKKK 65LKKK]]\] A@?UUUTUXXWXRQQQP <;:POOONSSSRLKKKYYXY ° 7he 1ew <ork 7imes° µ +eb± µ¶µ³° www±nytimes±com»µ¶µ³»¶µ»¶µ»business»economy»biden²reinstates²aluminum²tariffs²in²one²of²his²first²trade²moves±html±

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Scrapbook Assignment IB - Slides

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