Analyzing Trump's Economic Policies and Emerging Market Opportunities

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GLOBAL BUSINESS ENVIRONMENT
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Contents
TASK 1..........................................................................................................................................3
TASK 2..........................................................................................................................................5
TASK 3..........................................................................................................................................6
REFERENCES.............................................................................................................................. 8
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TASK 1
INTRODUCTION
The concerns regarding the data and its protection are increasing with the tremendous use of the
internet and other technologies throughout the globe. In terms of social media sites, this has been
a huge concern for the service providers and media platforms to handle tons of data of millions
of people around the world. In this case, there are some recent concerns for the one of the most
popular site; Facebook. The application/website/social media platform has over 2.3 billion active
users until the fourth quarter of 2018. While the regulations like GDPR has made a huge impact
on their popularity after some severe concerns opened in front of the common people. So, this is
a small study to determine the overview of the impacts of the GDPR on Facebook.
IMPACT OF NEW GENERAL DATA PROTECTION REGULATION (GDPR) ON FACEBOOK
The General Data Protection Regulation (GDPR) is a European law for the protection of personal
data of the audience for the transactions within EU member states (EDPS, 2019). The law has
been established in 2016 and is one of the greatest achievements for them in recent years and
now it is recognized as the law across the EU. The law changes how a company collects, store
and process the data on EU residents and majorly focused companies are Facebook, Google and
other IT and social websites (Ramassa, 2018).
According to Facebook (2019), regardless from where the company is, they have to share their
customer's data and its details with the EU government and it requires a better commonplace of
assent for using a few forms of knowledge and widens the rights that persons have for attending
to and changing their knowledge. Since there are some allegations on Facebook for uncareful
and unethical utilization of the data of the users recently, the implications of GDPR on Facebook
ads and other operations areas;
1. There is a necessity now to informs the subscribers how their data is used
2. There should have the consent of the people before using their data and an option to withdraw
their participation and show them their information whenever they demand
3. Users now have the power to modify or delete their data whenever they want (Solon, 2018)
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Facebook has committed to follow with commitment and preparation, with the help of
transparency, control, accountability etc. and is a great breakthrough which has reduced the
popularity of the company in the EU. In Europe, the looking GDPR law gives better
opportunities to people for their privacy policies and protection of the data.
Figure 1: Key legal bases of GDPR
CONCLUSION
In conclusion, it can be said that the data protection of the customers especially for the people
involved in the social media sites like Facebook and Google but with the effective GDPR
regulation developed by EU government has made it clear that the companies cannot just use the
data of the customers any way they want but should convey the notion to their audience first. In
addition to this, the future will be going to be more advanced and hence the tremendous amount
of data has to be kept safe with priority basis by companies like Facebook.
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TASK 2
INTRODUCTION
According to recent trade wars of the globe, the increase in tariffs by one country and try to
attack others in the trade, taxes and quotas change the relationship within the two nations
involved. Basically, it is not what it sounds like, a type of tax, causing others responds like tit-
for-tat escalation which might hurt the nation’s economy and develop political tensions. In this,
the US president Donald Trump reckons the trade wars and is not afraid of raising the tariffs
which are directly affecting the countries like the UK, China and India because they are growing
economies and they work collaboratively with US (BBC News, 2019).
TRUMP’S APPROACH TO ECONOMIC POLICY AND IMPACT ON EU OR CHINA
Particularly, in the case of China the president has placed high tariffs for billions of dollars’
worth of goods by imposing a 10% levy on $200bn (£150bn) worth of Chinese products so far.
Recently in May, he has announced to impose 25% tariff on $325bn on some other Chinese
goods. Trump has made a huge point on the campaign trail for cutting the country’s trade deficits
(Johnson, 2019). Between these two countries, the relationship is at its juncture while in terms of
other countries like the UK, the internal threats by BREXIT decision of the country and high
taxes by the US have cursed the businesses in the country. Hence, it can be said that Trump's
policies are in the direction of making the revolution of free-trade but they are hurting China, EU
and other countries who deal with the US.
Trump's hard-line approach towards his country but others is facing huge threats in their
economies. Trump’s administration wants to approach more aggressively and will use all the
possible ways to leverage and encourage other countries to give huge profits to the US (Paletta
and Swanson, 2017). The fiscal policies of Trump have a bad effect on the trade deficit and made
it worse for places like EU. The perspective is that tax cuts to people in the US attracts them to
invest which indirectly encourages the borrowing, dragging and financing from overseas. The
policies may help Donald to achieve some of the objectives but it is not possible to get the best
results. The countries like China and UK are facing severe problems because of the We argue
this overall approach of Temporary, Reversible, and Uncertain MFN and Preferential policies –
T.R.U.M.P. policies (McKibbin and Stoeckel, 2017). The present administration’s threat for
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willingness and renegotiate to withdraw all the agreements which will be costlier to the US
consumers (Handley and Limão, 2017).
CONCLUSION
The global trade wars are the major threats between the effective relationships of the growing
economies like US, UK, China and others but with the decisions and actions of one affect the
links between all. The decisions and negotiations made by the US president Trump are some of
the worst decisions by him in terms of several people while the major perspective is to create the
US the leader of the world in terms of economy, trade operations and the dominant power of the
world. While the decisions to levy the taxes in trades of China and UK has degraded the
relationships between them.
TASK 3
INTRODUCTION
The businesses are searching for opportunities but for the countries which are highly developed
and have businesses operating in diverse industries and fields are facing severe problems
regarding further expansion. While in terms of the developing countries like India, China, UK
and many more nations, there are plenty of opportunities for them to expand, explore and grow
in their business. So, considering this, the present case will try to describe the opportunities that
are available for businesses from emerging countries of the world.
EXPANSION OPPORTUNITIES FOR BUSINESSES FROM EMERGING ECONOMIES
The companies hope to capitalize on the opportunities present for them and serve the global
expansion but first, they need to identify the market potential for their success that can
synchronize with their skills and resources. For this, the opportunities present in emerging
markets are great and available to all as the whole nation is growing so their firms. Since the
emerging markets have the characteristics like less than average per capita income level that
helps in gaining skilled people at low costs, the motive to grow, high volatility of the markets,
low mature capital trade markets and high returns for the investors (Sundström and Radon,
2015).
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Since there are several advantages of operating and going in like, increased demand for their new
goods, brand elimination and value management, growing infrastructure performance, creation
of a buffer for the recession periods and develop the business as prestige in the markets
(Pendleton, 2019). The countries like India, China, Malaysia, UK and many other nations are
growing fast and trying to become the global economic leaders which eventually share the
forceful nature of the governments and businesses to expand globally. In the years ahead, to
expand the position and grow in the emerging markets like Greater China, ASEAN countries, the
Middle East, Turkey, India, Central America etc. The fact that these countries account for almost
65% of the global economy and hence with their growth, even small businesses can grow. The
global pace in the growth of the countries like India and China took place since the 20th century
with their growing population, a diverse range of businesses and plenty of resources for the
businesses at low costs. Comparing the growth rate and sales of these economies, the rate has
been increased and is going to increase as per the experts of the nations. A business can expand
its popularity, market share, sales and business relations throughout the world by working in
these emerging nations and future global leaders (Meyer and Peng, 2016).
CONCLUSION
Businesses are willing to get the best from their operations and practices within their business
but at present, the real opportunities are with those who are willing to take risks and go for the
new options. So, growing with the emerging economies or developing countries is the best way
to deal with the challenges and create a sense of accountability for the business owners, locality
and nation. At present, the opportunities while working with emerging nations are huge and
those who can grab them are the future leaders for sure.
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REFERENCES
BBC News, 2019. Trade wars, Trump tariffs and protectionism explained, [online] available at
https://www.bbc.com/news/world-43512098 last accessed on 5th May 2019.
EUROPEAN DATA PROTECTION SUPERVISOR, EDPS, 2019. The History of the General
Data Protection Regulation, [online] available at https://edps.europa.eu/data-protection/data-
protection/legislation/history-general-data-protection-regulation_en last accessed on 5th May
2019.
Facebook, 2019. What is the General Data Protection Regulation (GDPR)?, [online] available at
https://en-gb.facebook.com/business/gdpr last accessed on 5th May 2019.
Handley, K. and Limão, N., 2017. 13 Trade under TRUMP policies. Economics and Policy in the
Age of Trump, p.141.
Johnson, K., 2019. In Trump’s Economy, the Invisible Hand Belongs to the Government,
[online] available at https://foreignpolicy.com/2019/04/05/in-trumps-economy-the-invisible-
hand-belongs-to-the-government/ last accessed on 5th May 2019.
McKibbin, W.J. and Stoeckel, A., 2017. Some Global Effects of President Trump's Economic
Program.
Meyer, K.E. and Peng, M.W., 2016. Theoretical foundations of emerging economy business
research. Journal of International Business Studies, 47(1), pp.3-22.
Paletta, D. and Swanson, A., 2017. Trump suggests ignoring the world trade organization in a
major policy shift. Washington Post.
Pendleton, E., 2019. The Advantages of Doing Business in an Emerging Market, [online]
available at https://smallbusiness.chron.com/advantages-doing-business-emerging-market-
22717.html last accessed on 5th May 2019.
Ramassa, L., 2018. GDPR and Facebook: all you need to know to keep advertising safely,
[online] available at https://leadsbridge.com/blog/guides/gdpr-and-facebook-all-you-need-to-
know-to-keep-advertising-safely/ last accessed on 5th May 2019.
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Solon, O., 2018. How Europe's 'breakthrough' privacy law takes on Facebook and Google,
[online] available at https://www.theguardian.com/technology/2018/apr/19/gdpr-facebook-
google-amazon-data-privacy-regulation last accessed on 5th May 2019.
Sundström, M. and Radon, A., 2015. Utilizing the concept of convenience as a business
opportunity in emerging markets. Organizations and Markets in Emerging Economies, 6(2),
pp.7-21.
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