A measure of inflation for the members of the Group of 20 was published for the first time today. According to a group of international institutions, the annual rate of inflation was 3.2% in July and fell to 3.0% in August.
Rates fell in many large developing economies such as China, India and Brazil in addition to the U.S. and the EU. Japan and Indonesia are the only countries whose inflation rate increased in August. The member with the lowest inflation rate was Japan at 0.9% and the highest was India at 10.7%.
If inflation rates continue on a downward trend, central banks will find reassurance in keeping their reactive monetary policies from the 2008 financial crisis intact. While the global economy has been recovering, it is feared that the future U.S. budget policy may set it aback.
What are your thoughts on the G-20 inflation rate? Post in the comment section below!
In Indonesia, China and Japan, there is often the effort to try to avoid saying ‘no’ directly to a person for fear of appearing rude, defiant or offending the other person’s ‘face’ (personal integrity). Saying ‘yes’ is much preferred, even though it is actually a ‘no’. Therefore, if unsure whether the ‘yes’ is a ‘yes’ or a ‘no’, it is best to repeat the request, then follow up.
Have you ever been in this situation? Share your story in the comment section below!
Shoes are forbidden within Muslim mosques and Buddhist temples. Never wear them into Japanese homes or restaurants unless the owner insists. In Indian and Indonesian homes, if the host goes shoeless, do likewise.
For more information, refer to Fundamentals of International Business by Michael Czinkota et al.
On 24 October 2012, WTO’s Committee on Anti-Dumping Practice reviewed reports filed by 32 members on anti-dumping actions for the first half of 2012 and by 25 members for more recent submissions, a total of 75 issues.
Among the 75 issues, for instance, Japan raised concerns about anti-dumping investigations by China on some stainless steel seamless tubes, by India on melamine and aniline, by Indonesia on cold rolled coil/sheet, and by the United States on maintaining anti-dumping measures against Japan that are 30 years old.
The United States complained about China’s investigation into thylene glycol monobutyl ether and diethylene glycol monobutyl ether, and India’s investigation into stainless steel cold rolled flat products.
As fair as it may sound, anti-dumping practices can in fact be used as a strategic shelter for large domestic firms against foreign competitors.