Newsfrom Nigeria indicates that the LCCI’s Director General lamented atthe opening ofa two-day national economic summit on Nigeria’seconomy that the model that is being employed currently to manage thecountry’s petroleum sector is non sustainable. This is because itis not in line with the government’s vision to get the economydiversified so as to create jobs. As a matter of fact, it has beenfound to perpetuate the rent economy phenomenon and very muchunfavorable to economic competition. This is because it isfundamental for it to be known that those who benefit from acompetitive market setting are the citizens. He held that the weakobservance of the process that had been regulated for Premium MotorSpirit (PMS) in a number of regions in the nation was a symptom ofproblems that ran too deep.
Inspite of the fact that there is still slow progress in a number ofmajor conflicts between Washington and Moscow, which include thecrisis in Ukraine recent talks between the two major nuclear powersrepresented by US State secretary and Russia’s President indicatethat there is now a softening of tones. On Russia’s side it is aportrayal of the desire to avoid confrontation and make relationsordinary without necessarily changing the position that it has hadabout Ukraine. The US is already playing alongside Russia to sustaina cooperation about Syria so as to convince the Syrian President toinstigate new elections, a transitional government and a newconstitution. These talks were about several issues which includeconflicts in Libya and Yemen, bilateral relations, the struggleagainst terrorism, and the situation in Syria and Ukraine.
Newsfrom Bengalulu India indicates that international Curb Company Uberhas plans of investing an additional $500, million in the country byat least June 2016. This would be a challenge to Ola the biggestplayer in India’s market. In less than nine months the company’sdirector had indicated that the company would invest $1 billion inIndia because it is projected to be the largest market in the worldmore than even the US or China. A senior manager at the companyindicated that the company is now on the strategy of doubling up itsresources. As a matter of fact, the company is said to not have usedup the entire $1 billion slated for India.However, Ola and Uberare engaged in fierce battles which usually turn out with graveconsequences in an effort to dominate the Indian market.
CubanLight Industry conference
Businessleaders from Asia, Latin America and Europe have already madearrangements to attend Cuba’s second congress about Interiordesign, Fashion and Furniture. The event is slated for June 2016.Suppliers from the visiting nations will take part in the country’sLight Industry Global Convention slated for June 22. Extra scheduledis an exhibition of export products from Cuba. This will take placeatthe Pabexpo fairgrounds between the 20thand the 24thof June, where local industries will learn from the foreign companieswhat they can do to replace their current exports. The event’sorganizing committee President indicated that a number of panelsabout the cosmetics industry development have already been scheduled.This is in addition to a number of activities that are associatedwith the furniture sector.
ChinesePresident visits the Czech Republic
Whenthe Chinese President started his maiden visit to the Czech Republicthis past Monday local officials and assessors predicted that asecond signal of investments from China that they perceived wouldrealize an economic stimulation and realize job creation was justabout to enter their nation. The Chinese President visit to thisnation came at a time when Chinese companies had been building uptheir investments in this central European nation in the last fewyears. Counting on these numbers one of the private Chineseconglomerates CEFC Energy Co. Ltd had already started increasing itsties in the Czech Republic. As a matter of fact, CEFC had alreadysigned up a number of contracts in the country in the presence ofheads of states from both countries.
TurkishCompanies in Iran
TheIranian and Turkish business council President has asserted that itnever deserted Tehran when it was under sanctions. Consequently, itis perceived that Turkish enterprises would play a very fundamentalrole in the nation in the coming post sanction era. In addition, ithas been perceived that important dynamics have already occurred inIran in order to avoid sanctions and tensions for the common good ofthe business environment. As a matter of fact, there is alreadyestablished a fertile ground in Tehran for entrepreneurs’investments. The contemporary economic environment in the country isa stark contrast of how the situation was in the sanctions era. Tehran is now connected to countries globally and is in the processof luring new investors and the new technologies. The Iraniangovernment is already supporting its private sector while takingsignificant steps to augment the business environment.
Howevents covered in Iran illustrate steps towards Globalization
Globalizationis about all countries in the world coming together to gain fromcloser technological, economic, political, cultural, andenvironmental interactions. What is happening in Iran is an elementof globalization. This is so because in the post sanction era thecountry is already building a strong and conducive local businessenvironment in order to attract investors from all over the world.The country is already in the process of adopting new technologies.This is so because new technologies are the main drivers ofglobalization for they make individuals to become increasinglyconnected and interdependent. Information technologies have alreadyrapidly enhanced the globalization process through facilitating thetransfer of finances and ideas at the click of a button from onecontinent to the other.
Themanner in which goods and services are transmitted from one countryto another has also been eased. As a matter of fact, Iran is alreadyin the process of fast tracking the construction of itsinfrastructure to connect it to its neighboring countries. With theremoval of sanctions, it means the country’s airline can connect toall parts of the world without being considered to have violated anynation’s air space.
Theeconomic phase of globalization is the most visible in Tehran giventhe current multinational branding coupled with the movement ofgovernment capital. In addition to that the fact that the US has hada turbulent time economically due to the 2007 economic crunch itwould be willing to invest in the country. The country has alreadybranded itself as a friendly nation and has stopped working in itsnukes in order to facilitate development.
Theenvironmental face of globalization in Tehran is evident through itsuse of the nuclear facility it has to generate energy rather thanbuild weapons of mass destruction. However, this is still linked toglobalization’s destructive tendencies of releasing carbonemissions that destroy the ozone layer and destroy the rain forestrealizing global warming which exposes people to dangerousultraviolet rays.
Thepolitical face of globalization in Tehran is very much evidentthrough its siding with Russia on most sensitive issues. Given thatthe US has been using globalization to inculcate democratic ideals innations this has also applied to Iran. The country was forced todiffuse a number of undemocratic ideals such as the detention ofindividuals without trial. The country is now incorporated into anumber of global governance interrelations such as the UnitedNations, and the Common wealth.
Technologicallythe country is fast tracking the adoption of all new technologies toenhance its communication with the rest of the world at the click ofa button. This includes air travelling in various manifestations,the internet, teleconferencing, satellite technology, cloud computingand online newspapers. The country’s industries have also adoptednew technologies to enhance production.
CulturallyIran has allowed the introduction of other religious organizations inthe country. Today Christianity is now preached in Tehran. Inaddition to that people are now allowed to wear western garments andwomen can drive their vehicles as opposed to the former regimes.Girls are allowed to have an education and interreligious andnational marriages are now allowed in the country.
Bordo,Michael, Alan Taylor, and Jeffrey Williamson Globalizationin Historical Perspective. Chicago: University of Chicago Press/NBER. (2003): 23-44. Print.