About Exchange Rate Arrangements for Developing and Transition Countries for MB0037 Assignment

You have to solve the question - “Describe briefly the exchange rate arrangements of developing and transition countries.” The assignment question is a sequel of International Business Management SMU MBA MB0037. There are already some solved assignments of MB0037 like - “current issues in globalization” and “bill of lading”.

There is considerable diversity in the exchange rate regimes of developing and transition countries, from very hard currency pegs to relatively free floats and with many variations in between. This is not surprising in view of the wide differences among these countries in economic and financial circumstances. However, as these countries have adapted to expanding opportunities arising from deeper involvement in an increasingly integrated global economy and to changes in their own economic situations, there has been a shift toward greater flexibility, for the following reasons:

Gross capital flows to developing countries have risen considerably since the early 1980s, increasing the potential for large and sudden reversals in net flows that would make pegged rates more difficult to maintain;

Consistent with the trend toward globalization, many developing economies now trade with a wider range of partner countries. Countries with single-currency pegs are exposed to the wide fluctuations among major currencies.

Recent crises involving emerging market economies – from the “tequila crisis” of 1994-1995 that originated in Mexico through the Asian/Russian/Brazilian crises of 1997-99 – have led some observers to conclude that pegged exchange rate regimes are inherently crisis-prone, and that emerging market countries should be encouraged, in the interests of themselves and the international community, to adopt floating rate regimes.

In considering this conclusion, it is important to stress a critical caveat: while recent crises have directly and adversely affected many emerging market economies linked to global financial markets, they have only indirectly affected the majority of developing and transition countries. And factors other than the relative fixity of their exchange rate regimes were, of course, at the root of the problems of the most affected countries.

A Note on Bill of Landing for MBA MB0037 SMU Assignment

It is the solved assignment question of SMU MBA MB0037. The question is – “Write a note on bill of lading.” The assignment question is the part of International Business Management of MBA MB0037. I have already shared some solved assignment of MB0037 like - “understanding of regional economic integration”, “How has WTO Benefited Economies? and “current issues in globalization”.

A Bill of Landing is a type of document that is used to acknowledge the receipt of a shipment of goods and is an essential document in transporting goods overland to the exporter’s international carrier. A through Bill of Landing involves the use of at least two different modes of transport from road, rail, air and sea. The term derives from the noun “bill”, a schedule of costs for services supplied or to be supplied, and from the verb “to lade” which means to load a cargo onto a ship or other form of transport.

In addition to acknowledging the receipt of goods, a Bill of Landing indicates the particular vessel on which the goods have placed their intended destination, and the terms for transporting the shipment to its final destination. Inland, ocean, through and airway bill are the names given to bills of landing.

Upon receipt of the letter of credit, the credit professional should review all items carefully to insure that what is expected of the seller is fully understood and that he can comply with all the terms and conditions. When compliance is in question, the buyer should be requested to amend the credit.

The credit professional should be familiar with two types of letters of credit: commercial and standby. Commercial letters of credit are used primarily to facilitate foreign trade. The commercial letter of credit is the primary payment mechanism for a transaction.

The standby letter of credit serves a different function. The standby letter of credit serves as a secondary payment mechanism. The bank will issue the credit on behalf of a customer to provide assurance of his ability to perform under the terms of contract.

Describe the Current Issues in Globalization for SMU MBA MB0037 Assignment

Take the solved assignment – “Describe the current issues in globalization” for SMU MBA MB0037 assignment. The assignment question is the part of International Business Management MBA MB0037 in sequence of “understanding of regional economic integration” and “How has WTO Benefited Economies?”

Globalization is not just a recent phenomenon. Some analysts have argued that the world economy was just as globalized 100 years ago as it is today. But today commerce and financial services are far more developed and deeply integrated than they were at that time.

The most striking aspect of this has been the integration of financial markets made possible by modern electronic communication.

The 20th century saw unparalleled economic growth, with global per capita GDP increasing almost five-fold. But this growth was not steady – the strongest expansion came during the second half of the century, a period of rapid trade expansion accompanied by trade – and typically somewhat later financial – liberalization.

This was a major factor in the devastation of this period, when per capita income growth fell to less than 1% during 1913-1950. For the rest of the century, even though population grew at an unprecedented pace, per capita income growth was over 2%, the fastest pace of all coming during the post – World War boom in the industrial countries.

The story of the 20th century was of remarkable average income growth, but it is also quite obvious that the progress was not evenly dispersed. The gaps between rich and poor countries and rich and poor people within countries have grown.

The richest quarter of the world’s population saw its per capita GDP increase nearly six-fold during the century, while the poorest quarter experienced less than a three-fold increase. Income inequality has clearly increased. But, as noted below, per capita GDP does not tell the whole story as current issues in globalization.

An Understanding on Regional Economic Integration for MB0037 MBA Assignment

It is the solved assignment of – “Show your understanding of regional economic integration” question for SMU MBA MB0037 assignment. The International Business Management assignment is associated with “Is A World Wide Standardization a Major Issue in the Wake of Globalization?” and “How has WTO Benefited Economies?”

Regional integration can take many forms, and nowhere is this more evident than in the vastly different integration process taking place in the regions of Europe and East Asia. The subject of this paper is regional integration as it has developed in East Asia with a focus on the drivers of that integration. While the paper is not intended as a direct comparison of integration in East Asia and Europe, it will include some comparisons between the two regions.

Integration in East Asia has progressed very slowly and is still in an early stage despite that the process has continued for decades. In fact, it could be said that the process began centuries ago – even as far back as the 15th century. By comparison, European integration has progressed steadily and has gradually depended over the last 50 years to reach an advanced stage today with a common currency and well-developed regional institutions. Thus, the speed of progression and the level of integration attained in the two regions are quite dissimilar.

In addition to these differences, the drivers behind the integration process in each region are different. In Europe, the origins of integration have been institutional in nature, and the development of institutions has been prominent throughout the process.

Thus, regional institutions have been the driving force behind integration in Europe. In East Asia, the development of regional institutions has also occurred, however, progress in this area has been slow and the few existing institutions are fairly weak and ineffective.

Nevertheless, regional integration is taking place in East Asia, but the driving force is the market rather than policy or institutions. Corporations and the production networks they have established are driving integration in East Asia.

How has WTO Benefited Economies?

Question of the solved assignment is – “How has WTO benefitted economies? Discuss briefly.” It has been taken from MB0037 SMU MBA (International Business Management) in the sequence of “Will Culture be eroded in the Wake of Globalization?” and “Is A World Wide Standardization a Major Issue in the Wake of Globalization?”

The failure to start a new round of multilateral trade negotiations at the WTO conference in Seattle in 1999 was a setback for the international trading system. Such broad-based multilateral negotiations are particularly important become they provide an opportunity for countries to gain visible benefits for their exporters from market opening by others.

This provides an added incentive for countries to open their own markets, and to overcome opposition from the entrenched interests benefiting from protection. In this way, the packages of trade liberalization measures that result for these negotiations are assured of benefiting all of the participating countries.

A new round of negotiations would raise global growth prospects and strengthen the internal trading system. The IMF considers a successful trade round to be an important step toward meeting the goal of making globalization work for the benefit of all.

As demand for localized products increases, everyone from established multinational technology vendors, to consumer electronics companies, and small start-ups are reviewing their internal product globalization process. They are finding that localization projects are fragmented and dispersed throughout the organization and that activities are inconsistent, unresponsive and unwieldy. As a result, international roll-outs are delayed, and revenues are unpredictable. Overall globalization strategy should include a repeatable globalization methodology, independent of target language that becomes part of the product release cycle.

They are finding that localization projects are fragmented and dispersed throughout the organization and that activities are inconsistent, unresponsive and unwieldy. As a result, international rollouts are delayed, and revenues are unpredictable.

Is A World Wide Standardization a Major Issue in the Wake of Globalization?

Write the solved assignment of – “‘A world wide standardization is a major issue in the wake of globalization’ Discuss.” for SMU MBA MB0037. The solved assignment question is in the sequence of “Will Culture be eroded in the Wake of Globalization?” and “Are Crises the Essential Feature of Globalization?”

In the software industry, “simultaneous worldwide release” has become a mantra to keep increasingly internet-enabled consumers buying. In the recreational products industry, companies want a “global brand” and position, regardless of local eccentricities. Instituting a consistent, dependable localization methodology is a sure-fire way to maintain high global standards for product introductions and continued high levies of product service.

Whether outsourcing, vending, or managing the process internally, leading companies are consolidating their previously disparate localization activities into one coordinated process with a senior management sponsor. They are reaping paybacks in lower costs, higher velocity, and sustainable quality.

Successful global companies have recognized the need for localized product user interfaces. They know that the days are gone when Americans heavy manufactured exports only needed their “on-off” switch translated into different languages. With software and semiconductors permeating everything from PCs to refrigerators to automobiles, companies must adopt more pervasive product localization programs than ever before.

For instance, a 1998 sports utility vehicle has more computing power than the original PC. As a result, dashboard displays, controls brochures and the traditional glove box material all constitute part of the “user interface”. The challenge for automotive manufacturers is to break the localization activities for each of these parts away from their production or functional operating groups, and centralize localization in order to achieve consistent terminology and an even “look and feel” for the product.

Overall globalization strategy should include a repeatable globalization methodology, independent of target language that becomes part-and-parcel of the product release cycle. The main benefit to this approach is cost control.

Will Culture be eroded in the Wake of Globalization?

It is the solved assignment of – “Will culture be eroded in the wake of globalization?” question from SMU MBA MB0037. The solved assignment is in the sequence of “Global Aspect of Globalisation in the Current World” and “Are Crises the Essential Feature of Globalization?”

Anxiety about globalization also exists in advanced economies. How real is the perceived threat that competition from “low-wage economies” displaces workers from high-wage jobs and decreases the demand for less skilled workers? Are the changes taking place in these economies and societies a direct result of globalization?

Economies are continually evolving and globalization is one among several other continuing trends. One such trend is that as industrial economies mature, they are becoming more service-oriented to meet the changing demands of their population.

Another trend is the shift toward more highly skilled jobs. But all the evidence is that these changes would be taking place – not necessarily at the same pace – with or without globalization. In fact, globalization is actually making this process easier and less costly to the economy as a wholly by bringing the benefits of capital flows, technological innovations, and lower import prices, Economic growth, employment and living standards are all higher than they would be in a closed economy.

But the gains are typically distributed unevenly among groups within countries, and some groups may lose out. For instance, workers in declining order industries may not be able to make an easy transition to new industries.

The economy as a whole will prosper more from policies that embrace globalization by promoting an open economy, and, at the same time, squarely address the need to ensure the benefits are widely shared.

Education vocational training to make sure that workers have the opportunity to acquire the right skills in dynamic changing economies and well-targeted social safety nets to assist people who are displaced.

Are Crises the Essential Feature of Globalization?

The solved assignment of SMU MBA MB0037 will help you writing in the examination also. The assignment question is – “Are crises, as the recent recession of 2008 shows, the essential feature of globalization?” It is the solved assignment of Sikkim Manipal University MBA MB0037 (International Business Management). I have already written an assignment on MB0037 – “Global Aspect of Globalisation in the Current World.”

The succession of crises in the 1990s – Mexico, Thailand, Indonesia, Korea, Russia, and Brazil – suggested to some that financial crises are a direct and inevitable result of globalization. Indeed one question that arises in both advanced and emerging market economies is whether globalization makes economic management more difficult.

Supporters of globalization argue that the anti-globalization movement uses anecdotal evidence to support their protectionist view, whereas worldwide statistics strongly support globalization.

The percentage of people living on less than $2 a day has decreased greatly in areas affected by globalization, whereas poverty rates in other areas have remained largely stagnant. In East-Asia, including China, the percentage has decreased by 50.1% compared to a 2.2% increase in Sub-Saharan Africa.

Income inequality for the world as a whole is diminishing. The economist Xavier Sala-i-Martin in a 2007 analysis argues that this is incorrect, income inequality for the world as a whole has diminished. Regardless of who is right about the past trend in income inequality, arguably absolute poverty is more important than relative inequality. If everyone lived in object absolute poverty, then relative income inequality would be very low.

Although critics of globalization complain of Westernizaion, a 2005 UNESCO report showed that cultural exchange is becoming mutual. In 2002, China was the third largest exporter of cultural goods, after the UK and the US. Between 1994 and 2002, both North America’s and the European Union’s shares of cultural exports declined; while Asia’s cultural exports grew to surpass that of North America.