BrainPaw

  The idea of global currency has been put forward for years now. But what is global currency?  A world currency refers to a currency that is transacted internationally, with no set borders. While it is true more and more firms are becoming multinational and must deal with a number of monetary systems, it is not always feasible to develop one monetary system to do away with the exchange rate. On March 26, 2009 a UN panel of expert economists called for a new global currency reserve scheme to replace the current US dollar based system.  Other proposals have been put forth but the all have some difficulties.   The well-known economist, Keynes, advocated a global currency and argued that it wouldn’t suffer from inflation and many argue it would make conducting business more efficient.  However,  other economists argue that a single world currency is unnecessary because it would bring little benefit and increase costs. I am more inclined to agree with the latte...

  Michael Porter’s Diamond Model was first published in his 1990 book, The Competitive Advantage of Nations. It attempts to explain why one nation is more competitive than another in a particular industry. The model is often used by businesses to analyze the external competitive environment. At a country level, there are two schools of thought on country competitiveness: the economic school, which rejects Porter’s notion of country competitiveness, and the management school, which supports the notion of competitiveness at a country level. There are two schools of thought; the economic school, which ignores Porter’s notion of country competitiveness, and the management school, which supports the notion of competitiveness at a country level. The meaning of international competitiveness at the country level within in the context of Porter’s   (1990a) thesis that countries, like companies, compete in international markets for their fair share of the world markets. Trade theory in ...