This report discusses the impact of government regulations on social media channels and their operations. It explores the regulations related to unethical content, taxation, and communication tools used by terrorist groups.
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Running Head: Global Business Environment Global Business Environment Report MAY 31, 2019
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Global Business Environment2 Table of Contents TASK-1 (Ques. a)..........................................................................................................................................2 Introduction.................................................................................................................................................2 Government regulations on Social media....................................................................................................2 Conclusion...................................................................................................................................................3 References...................................................................................................................................................4
Global Business Environment3 Introduction The use of social media in the modern days become the part of human life. People cannot live without the social media channels like Facebook, Instagram, Twitter etc. However, the many government is planning to regulate the social media channels because of their harmful contents. Many government has imposed fines or block the social media services that do not follow the rules and regulations of the government. This report based on these regulations and its impact on the social media channels. The report discusses the impact of these regulations on the social media operations. Government regulations on Social media In present time, all the social media channels have their own governance policy to control the content and any unethical or illegal activities. The social media channels such as Facebook and YouTube largely depend on their own self-governance policy and control the content according to their own rule (Kumar and Pradhan, 2018). However, the major problem is here that every government has their own rules and regulations related to social media and these social media channels have to regulate their own policies according to the local government where they operate the business. However, the government regulations regarding the unethical contents like terrorist videos, sexual contents, or any sensitive information that leads to a problem for the people in a country should be regulated, and many government does it. China never allowed Facebook in the country. However, Facebook has said that many sensitive or harmful content (almost 99.93%) are automatically detected and deleted by the Facebook detection technique (Brown and Peters, 2018). However, people still share and sends immoral and unethical videos on these social media sites. The linkage of Facebook to influence the US presidential election in 2016 was one of the big news where Facebook user data ware leaked by the Cambridge Analytical and try to influence the presidential election in 2016 (Szegedi and Sganga, 2018). Apart from this, a Russian Internet Research Agency was also blamed that they used the FB Data to influence the US presidential election. The ‘Interment Research Agency’ of Russia used the Facebook, Google, YouTube sites to so the fake adds to the millions of users about the presidential election. However, these all three sites were then taken under the scrutiny of USA government and the USA brings a law
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Global Business Environment4 against them. It was really a challenge for these social media sites to face such type of happenings on the sites. However, the proposed rules and regulations to control the activities of these social media channels will really affect their freedom of business operation in many countries (Chiou and Tucker, 2018). However,amajorconcernisthatmanyterroristgroupsusesthesocialmediaastheir communication tool and it is so difficult for the government to trace such terrorist activities as the control of these social media channels relies in the hand of social media channels rather than government. Therefore, many government wants to regulate the social media channels in the country and it will be really challenging for these social media channels. Another regulation that government want to implement is related to taxation. Facebook, YouTube, Twitter and Google are operating their social media channels in various countries and collect a huge amount of revenue from their users and displaying advertisements to the users. However, these companies fail to repay the tax related to their service and earnings from the country. The government want to regulate the activities of social media channels because government expect that these social media channels pay the real taxes in the country (Rahwan, 2018). Conclusion In the conclusion, it can be said that there are many unethical and illegal practices has been operated by the social media channels in the past and these channels are still doing some unethical practices such as showing harmful contents, allow terrorists to use the social media channels, tax theft, and even create issues related to user’s privacy. These acts of social media channels force the government to regulate these sites or block them in the country. The impact of these regulations will be really strict for these channels if they will stop these unethical practices. However, blocking these social media channels will also impact their business operation and reduces the number of users, which is the major source of their income.
Global Business Environment5 References Brown, N.I. and Peters, J. (2018) Say This, Not That: Government Regulation and Control of Social Media.Syracuse L. Rev.,68, p.521. Chiou, L. and Tucker, C. (2018)Fake News and Advertising on Social Media: A Study of the Anti-Vaccination Movement(No. w25223). National Bureau of Economic Research.Jang, S.M. and Kim, J.K. (2018) Third person effects of fake news: Fake news regulation and media literacy interventions.Computers in Human Behavior,80, pp.295-302. Kumar, V. and Pradhan, P. (2018) Trust management issues in social-media marketing. InSocial Media Marketing: Breakthroughs in Research and Practice(pp. 714-732). IGI Global. Rahwan, I., (2018) Society-in-the-loop: programming the algorithmic social contract.Ethics and Information Technology,20(1), pp.5-14. Szegedi, M. and Sganga, C. (2018) FACEBOOK, TWITTER, YOUTUBE AND THE OTHERS: OUR ONLINE REPRESENTATIVES WITH AND WITHOUT FREE SPEECH IMMUNITY.
Global Business Environment6 TASK-2 (Ques. b)
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Global Business Environment7 Table of Contents TASK-2 (Ques. b)..........................................................................................................................................0 Introduction.................................................................................................................................................0 Withdrew of USA from Trans-Pacific Partnership........................................................................................0 US-China Trade Relationship and Current Situation of Trade War..............................................................0 Conclusion...................................................................................................................................................1 References...................................................................................................................................................2
Global Business Environment8 Introduction The current economic policies of Donald Trump mainly focus on establish a trade balance with its trade partners such as China, and UK. The latest hike in tariff barriers by Donald Trump for China is creating a situation of trade war between the two big economies of the world.In last few months, the president of USA has taken many economic and foreign policy decision that will impact the global economy including China, India, UK, EU, etc. This report analysis the impact of these economic decisions of Trump on other economies and how these decisions affect the global economy and peace. Withdrew of USA from Trans-Pacific Partnership President Donald Trump withdrew its membership from the Trans-Pacific Partnership without any declaration of its replacement. Trump is also looking for withdrew from North American Free Trade Agreement (NAFTA). USA continuously increasing its tariffs on exported items and imposed levies on the imported steel and aluminum and on other products from China, Mexico, and Canada etc. (Lilly, Díaz, and McDaniel, 2019). US-China Trade Relationship and Current Situation of Trade War Donald Trump’s approach towards balancing the trade with China and other countries will not be a great news for the whole world as it enhances the chances of world trade war between two super powers and giant economies of the world. The result of his economic policies leads to a danger for the global economy as two major trade partners are fighting with each other and the other small economies will suffer because of their trade fight (Odell, 2019). Trump’s decision to hike the tariff rates with China will lead to decrease in the supply of products from USA to China which further leads to a decrease in domestic demand in the China. The decrease in domestic demand will adversely affect the world economy as large number of small countries and developing countries like India depends on Chinese exported goods and service. However, the hike in tariff rate with China will impact the both countries and their economies (Eichengreen, 2019).
Global Business Environment9 The major impact of Trump’s economic decision was on China. However, when China retaliate against the US decision and boycott the US farm goods, the Trump government provide money to the US farmers as bailout package for them (Lukin, 2019). The major problem with Trump’s decision is that he wants to control everything on political level rather than economic or financial level. The various theories of trade and economy says that the trade relationship should be done on the basis of needs and requirement of the partner countries. However, the trade relationship in USA is now regulated by the government with another government. The current Trump decisions force the manufacturing sector to tear up their existing supply chain and make the manufacturing products and process more expensive (Kazun and Kazun, 2019). The hike in tariff plans, restricted the countries to export products to USA and imposed heavy levies in the imported products, imposing sanctions on the countries for importing oil from Iran, etc. some of the major decision of president Trump is not only poisoning the relationship with other economies, it also adversely affect the goalball economy including China and UK (Rielly, 2019). Boycott of some of the major trade groups and alliances may result in a low cooperation level of countries or large economies with USA. Although the decision of USA not only affect the growth rate and economy of their big trade partners, it will also impact the economy of other small countries which depends on China and USA (Gross and Gordon, 2019). Conclusion Inconclusion, the current economic policy of president Donald Trump not only affect the economy of its trade partners rather it also affects the economy of USA as well. As China and USA are two giant trade partners who involve in billion dollars trade, the hike of tariff and levies rate may lead to the trade world war in the world, which adversely affect the economy of world. The USA government should try to resolve the tense situation with China and other countries and remove its hike on tariffs, thus the normal trade will be continued and it will be in favor of all other small and developing countries. The fight of export and import should always lead to a great loss for the whole world rather than profit for the two countries.
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Global Business Environment10 References Eichengreen, B. (2019) Trade policy and the macroeconomy.IMF Economic Review,67(1), pp.4-23. Gross, J. and Gordon, D.B. (2019) The Strengths and Weaknesses of Current US Policy to Address Pain.American journal of public health,109(1), pp.66-72. Kazun, A.D. and Kazun, A.P. (2019) Neither a Friend. Not a Foe: Donald Trump in the Russian Media.Polis. Political Studies,1(1), pp.90-104. Lilly, M., Díaz, H.P. and McDaniel, C. (2019)The Future of North America’s Economic Relationship: From NAFTA to the New Canada-United States-Mexico Agreement and Beyond [online].Availablefrom:https://www.cigionline.org/sites/default/files/documents/North %20American%20Forum%20Special%20Report_1.pdf [Accessed: 30/05/2019]. Lukin, A.V. (2019) Discussion on the Development of China and Prospects for Its Foreign Policy.Polis. Political Studies,1(1), pp.71-89. Odell, J.S. (2019) Trump and the Practice of International Trade Negotiation.Negotiation Journal,35(1), pp.147-150. Rielly,J.E.(2019)CanPresidentDonaldTrumpDestroytheLiberalInternational Order?.Politique americaine, (1), pp.215-227.