While Trump shakes up the global economy, this might be the prime moment for smaller market economies, like that found in the country of Canada, to rebrand themselves as a unique and perfect model for economic growth.
While countries that are home to smaller markets that are very dependent on global trade, President Trump has taken actions against what he deems unfair trade practices and has begun what looks to be a global trade war. This activity makes it difficult for smaller markets, like that of Canada, to plan their course to help their own economy thrive and ensure the welfare of their citizens. This is actually a pivotal moment for these types of economies and rather than hoping this storm passes, they should instead take action to build on this opportunity.
The best thing that can be done in this situation is to play the long game in the global economy. This landscape is ever changing, and it is a prime moment for them to rebrand themselves and build themselves into a brand that offers value and a prosperous future. Now that President Trump has withdrawn the United States from the TPP and is threatening to withdraw from NAFTA, other nations have an opportunity to swoop in and fill a void.
Some nations are dragging their feet under the assumption that this will pass, others are beginning to claim that globalism is dead, but nothing could be farther from the truth. Canada is home to the CETA, Canada-European Union Comprehensive Economic and Trade Agreement, which is approved and currently being implemented. It will once again establish the Asia-Europe Silk Road trade route from the past. This type of collaboration is exactly the opportunity that is there for smaller nations looking to make money in the global market. With a big player withdrawing and imposing tariffs, a new player in the game could be just what the market is seeking. For more detailed information on this topic, head to Huffington Post.
A recent BBC article explores life in West Africa after the recent Ebola virus epidemic. The devastating disease created widespread fear. Yet it also exerted an economic impact over the region.
The BBC news article described daily life in three struggling nations: Liberia, Sierra Leone, and Guinea. The report concentrated on residents of the slum district of West Point in Monrovia. In the wake of the epidemic, some survivors have thrown themselves into work as they seek to recover from painful personal losses.
Several people who lost loved ones during the Ebola quarantine now manage small enterprises. Rita Carol invested in a refrigerator, which she uses to sell ice to neighbors. Eva Nah used compensation she received following the death of her grandson during a quarantine protest for tuition for four other young relatives. Slum dweller J. Roberts, a widower after the epidemic, began a business selling heated water. He also rents washing booths so neighbors can bathe. He hopes his small business will support a better life for his four children.
Better Health Care
One byproduct of the tragedy involves improved disease monitoring. This effort in Monrovia now obtains greater funding. A medical facility established to care for Ebola patients still employs a nursing staff. It treats other widespread conditions, such as scabies and malaria. Founded by Reginald Kahweh (who lost both his parents to Ebola), the Kahweh Clinic improves the daily quality of life for many Liberians.
The Internet of Things (IoT) connects the physical world with the digital world. It is the intersection of economics, technology, and social imperatives. The Internet of Things is always a topic of conversation in industrial conferences, but the recent World Economic Forum in Davos, Switzerland put a lot of emphasis on the topic. The word Superpowers is taking on a whole new meaning on the world economic stage. Superpowers are not just the nations that exert influence on global issues. Superpowers are now the technological superpowers like mobile technology, artificial intelligence, the cloud, and the IoT imperative.
There were several panel discussions about cybersecurity as well as corporate priorities at the Davos conference. A recent estimate claims industrial IoT will add $14 trillion in economic value to the world’s economy by the year 2030. But the cybersecurity piece of the IoT imperative is the piece that got a great deal of attention at the Davos Forum. In the 1950s, a single industrial control system breach would impact a single plant. A single breach today will create global ramifications.
The Davos conference was the perfect setting to discuss not just the advantages of using the Internet of Things, but it also was the backdrop for discussing system vulnerabilities. And the potential for some of those vulnerabilities to become weapons. Standards for cybersecurity must be in place. And insurance companies must play a role in that security in order to create a culture of cybersecurity, according to members of the Davos Forum.