http://www.vancouversun.com/Foreign+ownership+restrictions+change/3125970/story.html
Summary:
This article talks about the changes in foreign ownerships for Canada in the telecommunication industry. Currently, regulations state that foreign firms are not allowed to own more than twenty percent of shares regardless of the companies' size. Industry leaders plan to relax the regulations so that it would not be as strict as it is now. There are also speculations that this will bring in billions of dollars in revenue after easing the regulations. With these new "rules," the top three companies in Canada (Bell Canada, Rogers Communications, Telus Corp.) will each be equal and have no advantages over any other company. Industry Minister Tony Clement, also decided to free-up regulation for smaller and newer companies such as Wind Mobile and Mobilicity. Clement ended by saying that Canada is one of the most "restrictive" countries when it comes to regulations.
Connection:
This article deals with the concept of foreign ownership. Foreign ownership occurs when foreign residents invest in Canadian assets and financial securities. In this case, it would be the Telecommunication industry. Foreign Ownership can benefit Canada in many ways. In employment, it is proved that one-tenth of all jobs in Canada are from foreign investments. Foreign-controlled companies also tend to be more orientated to world markets than Canadian-owned firms. Rob Bruce, president of Rogers', stated that "If it's opened up, it should be opened up for everyone." This statement adds to the fact that no company should have an advantage over any other.
Reflection:
I think it is great that the regulations are not being as strict for these phone companies. As seen in the article, billions of dollars can be earned just because of the ease of the regulations. It is also beneficial for the smaller companies such as Wind. Many people are planning to switch their phone plans to Wind because of the cheaper costs for their phone plans and they do not have to worry about any hidden fees. This is excellent for Wind as they are a smaller franchise compared to Rogers, Telus, and Bell. The larger companies tend to add hidden fees just because they can earn more money from the large consumer base they have, but I am sure many people will decide to switch to more "honest" companies instead.
Sunday, June 13, 2010
Tuesday, April 27, 2010
Arizona immigration law crosses the line, Obama says
http://www.vancouversun.com/news/Arizona+immigration+crosses+line+Obama+says/2946466/story.html
Summary:
On the Friday of April 23, 2010, U.S. President Obama made a new immigration law in Arizona. This new law grants officers the right to check people for their identification if they suspect them of being illegal immigrants or have a criminal background. Many people believe that this law can lead to racial profiling, a very serious issue in the U.S. The reason behind the addition of this law is because of the many illegal immigrants who sneaked into the boundaries of the U.S. Obama believes that this law can significantly reduce the amount of people immigrating to the states illegally. Studies have shown that there are over 11 million people living in the states illegally, with a majority of them coming from Mexico. This means that there are 11 million people not being taxed and are cheating the U.S. system.
Connection:
This new law may surely have a huge impact on Arizona. More and more people will know about this law, and people won't be going to Arizona anytime soon. The tourism industry will be greatly affected as tourists have a sense of doubt in going to Arizona. What does this mean? With less tourists going to Arizona, there will be less money earned in the tourism department. As a result, there will be less government spending, and the overall economy will decrease. Many of the tourist shops and stores won't be earning as much money because less and less people will go to Arizona.
Reflection:
I believe that this new law can hold back the illegal immigrants entering the U.S. With more security, the illegal immigrants have a higher chance of getting caught. However, there will be many people who won't be happy with this law. If a U.S. citizen was suddenly asked to show his identification, it would surely be a hassle to go through all the trouble just to prove that he is in fact a citizen. Nonetheless, the bigger picture here is to catch and stop all the illegal acts of entering the country. The 11 million people living illegally in the U.S. is not a small number. They are avoiding taxation, and as we know, with less tax collected by the government, there would be less money spent into health care, education, infrastructure, and so on. It is evident that not everyone would be happy with this law, but these harsh actions must be taken in order for the country to continue growing and growing.
Summary:
On the Friday of April 23, 2010, U.S. President Obama made a new immigration law in Arizona. This new law grants officers the right to check people for their identification if they suspect them of being illegal immigrants or have a criminal background. Many people believe that this law can lead to racial profiling, a very serious issue in the U.S. The reason behind the addition of this law is because of the many illegal immigrants who sneaked into the boundaries of the U.S. Obama believes that this law can significantly reduce the amount of people immigrating to the states illegally. Studies have shown that there are over 11 million people living in the states illegally, with a majority of them coming from Mexico. This means that there are 11 million people not being taxed and are cheating the U.S. system.
Connection:
This new law may surely have a huge impact on Arizona. More and more people will know about this law, and people won't be going to Arizona anytime soon. The tourism industry will be greatly affected as tourists have a sense of doubt in going to Arizona. What does this mean? With less tourists going to Arizona, there will be less money earned in the tourism department. As a result, there will be less government spending, and the overall economy will decrease. Many of the tourist shops and stores won't be earning as much money because less and less people will go to Arizona.
Reflection:
I believe that this new law can hold back the illegal immigrants entering the U.S. With more security, the illegal immigrants have a higher chance of getting caught. However, there will be many people who won't be happy with this law. If a U.S. citizen was suddenly asked to show his identification, it would surely be a hassle to go through all the trouble just to prove that he is in fact a citizen. Nonetheless, the bigger picture here is to catch and stop all the illegal acts of entering the country. The 11 million people living illegally in the U.S. is not a small number. They are avoiding taxation, and as we know, with less tax collected by the government, there would be less money spent into health care, education, infrastructure, and so on. It is evident that not everyone would be happy with this law, but these harsh actions must be taken in order for the country to continue growing and growing.
Wednesday, April 7, 2010
Positive National Numbers Expected in Employment
http://www.vancouversun.com/business/Positive+national+numbers+expected+employment/2764170/story.html
Summary:
Last week, there were many positive studies found by Statistics Canada. It is finally apparent that the economy is recovering from the recession. It is shown that the GDP for Canada went up by 0.6%, which is more than the past three years. Furthermore, it was also a surprise that the increase in the GDP was mainly because of the manufacturing industry. In the past, the manufacturing industry weren't capable of producing satisfying numbers to contribute to the GDP. Another positive note was that the employment rate went up, while the unemployment rate went down. In the month of March, there were more than 25,000 Canadians who found a job and joined the work force. Economist, Krishen Rangasamy stated that March went by fairly smoothly; however, Rangasamy also stated that the unemployment rate will slowly rise again in the near future.
Connection:
This article ties in with many concepts discussed in this chapter. The 0.6% growth in the gross domestic product(GDP) may seem like a small number, but in reality it has a big impact on Canada. With an increase in GDP, it means that there is an increase in productivity, an increase in worker's income, more people willing to spend money. These factors all contribute in booming the economy. When the business activity is low, prices are likely to decrease. However, this is not the case. Business activity is currently high, and prices may rise due to the increased demand for goods and services. It is also mentioned in this article that the employment rate went up. This is a positive thing because more people are working to stimulate the economy.
Reflection:
Unemployment is a very big concern for most Canadians. There were many Canadians who were struggling with finding a job and had no source of income. With this recent report, there are now more people that are employed and they can support their families. I believe that Canadians are doing a great job of stimulating the economy and we should continue to do so. I know of a person who was "sent on break" during the past few months because the company he was working for wasn't doing so well. He finally got to work in his usual hours again because just like the economy, the company was doing well again.
Summary:
Last week, there were many positive studies found by Statistics Canada. It is finally apparent that the economy is recovering from the recession. It is shown that the GDP for Canada went up by 0.6%, which is more than the past three years. Furthermore, it was also a surprise that the increase in the GDP was mainly because of the manufacturing industry. In the past, the manufacturing industry weren't capable of producing satisfying numbers to contribute to the GDP. Another positive note was that the employment rate went up, while the unemployment rate went down. In the month of March, there were more than 25,000 Canadians who found a job and joined the work force. Economist, Krishen Rangasamy stated that March went by fairly smoothly; however, Rangasamy also stated that the unemployment rate will slowly rise again in the near future.
Connection:
This article ties in with many concepts discussed in this chapter. The 0.6% growth in the gross domestic product(GDP) may seem like a small number, but in reality it has a big impact on Canada. With an increase in GDP, it means that there is an increase in productivity, an increase in worker's income, more people willing to spend money. These factors all contribute in booming the economy. When the business activity is low, prices are likely to decrease. However, this is not the case. Business activity is currently high, and prices may rise due to the increased demand for goods and services. It is also mentioned in this article that the employment rate went up. This is a positive thing because more people are working to stimulate the economy.
Reflection:
Unemployment is a very big concern for most Canadians. There were many Canadians who were struggling with finding a job and had no source of income. With this recent report, there are now more people that are employed and they can support their families. I believe that Canadians are doing a great job of stimulating the economy and we should continue to do so. I know of a person who was "sent on break" during the past few months because the company he was working for wasn't doing so well. He finally got to work in his usual hours again because just like the economy, the company was doing well again.
Monday, March 1, 2010
Expect Higher Prices if Debit Cards go the way of Credit Cards
http://www.vancouversun.com/business/debit+cards+credit+cards+expect+higher+prices/2342124/story.html
Summary:
Recent studies state that with the hidden fees placed on credit cards, it will soon occur with debit cards as well. Last year, the hidden card fees racked up to 4 billion dollars. Even though the charges are as little as a few cents per transaction, it adds up fairly quickly. Merchants that accept the gold,silver, and premium cards are also charged with more hidden fees. These merchants cannot do much because everyone needs a credit card in today's modernized society. With debit cards also being successful, people are worried for the hidden charges that are going to be placed on them as well. The Finance Minister Jim Flaherty, commented that there will be a voluntary code that will not let the credit card companies automatically upgrade it for the owners.
Connection:
The hidden card fees is no doubt a problem for the many consumers that use debit and credit cards. With these cards being relatively portable and divisible, it really forces consumers to use them for anything they purchase. When a transaction occurs using a debit card, the money is taken immediately out of one's bank account. However, if the account does not contain enough money, the transaction will not take place. This makes it perfectly safe to use this form of money. These companies take advantage of that and force the consumers to pay these hidden fees.
Reflection:
I believe that both the consumer and companies have a responsibility in these hidden fees. Consumers need to understand what they are paying, and the companies need to stop tricking people into these invisible fees. Flaherty, as the Finance Minister, needs to continue to keep his word about the voluntary code. There should be a regulation if the code is not adopted. This restricts companies from upgrading consumers' debit and credit cards for no reason other than to increase the hidden fees. There are many consumers that are dragged into upgrading to those new cards where they have to pay even more hidden fees. If this continues to go on, they will only be losing more and more of their money.
Summary:
Recent studies state that with the hidden fees placed on credit cards, it will soon occur with debit cards as well. Last year, the hidden card fees racked up to 4 billion dollars. Even though the charges are as little as a few cents per transaction, it adds up fairly quickly. Merchants that accept the gold,silver, and premium cards are also charged with more hidden fees. These merchants cannot do much because everyone needs a credit card in today's modernized society. With debit cards also being successful, people are worried for the hidden charges that are going to be placed on them as well. The Finance Minister Jim Flaherty, commented that there will be a voluntary code that will not let the credit card companies automatically upgrade it for the owners.
Connection:
The hidden card fees is no doubt a problem for the many consumers that use debit and credit cards. With these cards being relatively portable and divisible, it really forces consumers to use them for anything they purchase. When a transaction occurs using a debit card, the money is taken immediately out of one's bank account. However, if the account does not contain enough money, the transaction will not take place. This makes it perfectly safe to use this form of money. These companies take advantage of that and force the consumers to pay these hidden fees.
Reflection:
I believe that both the consumer and companies have a responsibility in these hidden fees. Consumers need to understand what they are paying, and the companies need to stop tricking people into these invisible fees. Flaherty, as the Finance Minister, needs to continue to keep his word about the voluntary code. There should be a regulation if the code is not adopted. This restricts companies from upgrading consumers' debit and credit cards for no reason other than to increase the hidden fees. There are many consumers that are dragged into upgrading to those new cards where they have to pay even more hidden fees. If this continues to go on, they will only be losing more and more of their money.
Thursday, January 21, 2010
Reject the Devastating Harmonized Sales Tax!
http://www.vancouversun.com/business/Parliament+must+reject+devastating+harmonized+sales+restaurant+association/2290432/story.html
Summary:
This article talks about the Canadian Restaurant and Food Services Association (CRFA) requesting the Parliament to deny harmonized sales tax (HST). This new tax, which will take effect on July 1, 2010, will greatly damage the food market. With the seven percent increase on food, restaurants will surely be losing a lot of profit. The president and CEO of the CRFA, Garth Whyte announced that restaurants will be earning $750 million dollars less per year. Whyte also stated that even though the recession is slowly recovering, consumers will purchase less food and go out less often because of the HST. There are studies that have proven that with the GST implemented in 1991, sales in the food industry dropped by about 11%. In that very same year, the GDP fell down by 2%.
Connection:
This article relates to what we are currently learning in Economics. The government has a role in the market, in this case, it is collecting the tax money. This also ties in with gross domestic product (GDP) for Canada. The term gross domestic product represents the value of all goods and services produced in a given year. The GDP will surely decrease as of 2010 because this HST will affect the behavior of consumers. They will probably stay home more often for lunch and dinner, so the food market will surely be impacted. However, this wouldn't be a long-term effect because it just takes time for consumers to get adapted to the increased prices.
Reflection:
There is no doubt that the food industry will face a significant impact by the addition of the HST. The restaurants will earn a lesser profit, the workers might even get a raise anytime soon, and waiters will get less tip. This then leads to another thing, which is consumers won't spend as much when they go out to eat. As a result, many restaurants won't make enough of a profit and will eventually close down. Taxes were originally created to help the Canadian government with the war that was going on. It has been many years, yet we still continue having to pay these miserable taxes. It just sickens me that the government can just keep doing what they want.
Summary:
This article talks about the Canadian Restaurant and Food Services Association (CRFA) requesting the Parliament to deny harmonized sales tax (HST). This new tax, which will take effect on July 1, 2010, will greatly damage the food market. With the seven percent increase on food, restaurants will surely be losing a lot of profit. The president and CEO of the CRFA, Garth Whyte announced that restaurants will be earning $750 million dollars less per year. Whyte also stated that even though the recession is slowly recovering, consumers will purchase less food and go out less often because of the HST. There are studies that have proven that with the GST implemented in 1991, sales in the food industry dropped by about 11%. In that very same year, the GDP fell down by 2%.
Connection:
This article relates to what we are currently learning in Economics. The government has a role in the market, in this case, it is collecting the tax money. This also ties in with gross domestic product (GDP) for Canada. The term gross domestic product represents the value of all goods and services produced in a given year. The GDP will surely decrease as of 2010 because this HST will affect the behavior of consumers. They will probably stay home more often for lunch and dinner, so the food market will surely be impacted. However, this wouldn't be a long-term effect because it just takes time for consumers to get adapted to the increased prices.
Reflection:
There is no doubt that the food industry will face a significant impact by the addition of the HST. The restaurants will earn a lesser profit, the workers might even get a raise anytime soon, and waiters will get less tip. This then leads to another thing, which is consumers won't spend as much when they go out to eat. As a result, many restaurants won't make enough of a profit and will eventually close down. Taxes were originally created to help the Canadian government with the war that was going on. It has been many years, yet we still continue having to pay these miserable taxes. It just sickens me that the government can just keep doing what they want.
Tuesday, October 13, 2009
Rising Rice Price For the End of 2009?
http://english.vietnamnet.vn/biz/200910/Rising-rice-price-for-the-end-of-2009-873292/
Summary:
Economists believed that even though countries exported large amounts of rice, the price of it would not rise up. By the end of September 2009, Vietnam exported a total of nearly 5 million tonnes of rice, which created the record of $2.018 billion. Thailand on the other hand, the leading producer of rice, would have to export 210,000 tonnes of rice per week, an increased of 21.7% compared to 2008. The head of Thai Rice Exporters' Association announced that their exports would reach about 9 million tonnes at the end of the year. Influenced by these 2 countries, Cambodia tried to increase their exports in 2009, to 800,000 tonnes, which is 300,000 tonnes more, compared to 2008.
Connection:
In chapter 2, we learned the concept of supply and demand. Rice as we know, is something most families eat for dinner every day. An increased in the supply of rice would not affect the consumer's demand for it. Even if the price went up by 2 or 3 dollars, consumers would mostly continue to purchase it. The reason why rice is exceptional compared to other products is because rice is a needed necessity. Another good example of a needed necessity is milk. Families would purchase milk and milk powder even if the price increases because of their newborns. Wealthy families and poorer ones, especially, depend on rice to keep them full. If a poor family cannot afford buying meat products in their meals, then rice can keep them full for a long period of time.
Reflection:
I believe that the price of rice would not increase until the end of 2009. Even though there were large amounts of exports from countries such as Thailand, Vietnam, and Cambodia, they would maintain the same price of rice. Since there were many brands of rice, if the price of Thailand rice increased, then the demand for it would decrease. This means that other substitute brands, Vietnam and Cambodia, would be increased in demand because it was cheaper compared to Thailand. It is also unlikely for a significant rise in the cost of rice because the government would not allow it to happen. My family eats rice almost every day for dinner, however; even if there was a slightly increase in the price of rice; we would continue to purchase it.
Tuesday, September 15, 2009
Solutions to Water Scarcity in India
http://www.sramanamitra.com/2009/08/30/latent-solutions-to-water-scarcity-in-india/
Summary
This article talks about some solutions it has towards the scarcity of water in India. There are millions of people in India who do not have access to clean drinking water. This results in many people dying. Luckily, there are now physical and chemical methods (desalination) for machines to "clean" out the salts and minerals in seawater so that it is drinkable. An example is the Kudankulam Nuclear Power Project (KKNPP). It is able to produce 100 liters clean drinking water per day. Another method is to rely on the rainfall in India.Since it only rains about 100 hours per year, the plan is to collect rainwater on rooftops so that it can be stored for future use.
Connection
The concept of scarcity means that there is an insufficient, or shortness of supply of a resource. With billions of people having to use water everyday, the supply of water is slowly decreasing in a worldwide scale. If a resource is scarce, the price of it will eventually go up because there is less supply of the resource over time. Since the supply of water is slowly decreasing, there will be a day where water prices, such as bottled water, will go up. Citizens of India are currently facing this problem. They have a low supply on water, which is why they must use their water conservatively.
Reflection
I feel that the people in India are in such a crisis. Water is such a basic resource, yet everyone in the world needs it to survive. It is such a frightening thought to have in mind with millions of people in India dying per year because water is so scarce. I believe that the method of desalination, which basically "changes" salt water to drinkable water, can really aid the people of India. People all over the world should not think that water can be taken for granted and just waste it. After reading this article, I will do my job and try my best to conserve water whenever I possibly can.
Summary
This article talks about some solutions it has towards the scarcity of water in India. There are millions of people in India who do not have access to clean drinking water. This results in many people dying. Luckily, there are now physical and chemical methods (desalination) for machines to "clean" out the salts and minerals in seawater so that it is drinkable. An example is the Kudankulam Nuclear Power Project (KKNPP). It is able to produce 100 liters clean drinking water per day. Another method is to rely on the rainfall in India.Since it only rains about 100 hours per year, the plan is to collect rainwater on rooftops so that it can be stored for future use.
Connection
The concept of scarcity means that there is an insufficient, or shortness of supply of a resource. With billions of people having to use water everyday, the supply of water is slowly decreasing in a worldwide scale. If a resource is scarce, the price of it will eventually go up because there is less supply of the resource over time. Since the supply of water is slowly decreasing, there will be a day where water prices, such as bottled water, will go up. Citizens of India are currently facing this problem. They have a low supply on water, which is why they must use their water conservatively.
Reflection
I feel that the people in India are in such a crisis. Water is such a basic resource, yet everyone in the world needs it to survive. It is such a frightening thought to have in mind with millions of people in India dying per year because water is so scarce. I believe that the method of desalination, which basically "changes" salt water to drinkable water, can really aid the people of India. People all over the world should not think that water can be taken for granted and just waste it. After reading this article, I will do my job and try my best to conserve water whenever I possibly can.
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