Portfolio: Analysis of International Business Principles (IBS210)

This portfolio analyzes three key areas within the realm of international business: child labor, the influence of politics on economics, and population dynamics, specifically focusing on Australia. The analysis of child labor utilizes statistical data to highlight its prevalence, ethical implications, and the roles of governments and businesses in addressing the issue. The discussion on politics examines the positive and negative impacts of political decisions on market stability and economic growth, drawing conclusions about the importance of sound political leadership. Furthermore, the portfolio assesses Australia's population growth, considering its benefits such as an expanded labor force and market, alongside its potential drawbacks like resource strain. The portfolio emphasizes the importance of a skilled workforce and the role of government in managing population growth. The assignment also includes references to academic sources.

1
Principles of International Business
Name
Professor
Course
Date

2
Principles of International Business
http://www.theworldcounts.com/stories/Child-Labor-Facts-and-Statistics on Child Labor Facts
and Statictics
The document presents statistics on child labor. Child labor, as its name suggests, is the
employment of the minors who have not reached the age of 18 years. According to international
standards, a person is legible for employment once he or she reaches the age of majority-18 years
and above. It implies that anyone who employs a minor is not doing the right thing. The
employment of the children is a bad practice because of two reasons. One, it unethical in
business and should not be tolerated by any employer. Two, it is an illegal practice that violates
the labor laws.
The shocking information that I got from the document is that, statistically, child labor is
a reality. The data gives a shocking revelation on the extent to which child labor has become a
major issue of concern in the world. From the statistics, it can be deduced that many employers
are giving jobs to the minors. There are so many children who are employed to work in different
organizations. Although the employers know that it is unethical and illegal to do so, they still
engage in such practices (Sarkar & Sarkar 2016). It is a bad thing to do because it does not
advantage the society in any way. In fact, it harms the society because it deprives the children of
an opportunity to study and struggle to build a brilliant future.
I strongly believe that the businesses are not doing enough to address the problem of
labor employment. The problem lies squarely on the government and the businesses. The
government is to blame because, despite formulating brilliant labor laws, it has failed to
effectively enforce them. This has created room for the unscrupulous employers to hire the

3
children. The business, on the other hand, should be blamed because they are the ones
perpetuating the problem by hiring the minors instead of the adults. In this regard, I argue that
business have not been doing enough to address the problem. If they were concerned, they would
not have employed the children (Morrissey 2017). The tendency to hire the childe shows that
such organizations are not committed to the principles of business ethics as well as the standards
of the labor laws which strongly condemn the practice of child labor.
In this regard, I would like to point out that the problem of child labor is real. The
statistics categorically state how the number of children who are employed is high. This
demonstrates that the society does not care about the welfare of the children. It means that we are
living in a society in which people are irresponsible. If they were responsible, no child would be
employed whatsoever. The law is very clear on exactly what to do. At a tender age, children are
immature (Sly, Moore, Gore, Brune, Neira, Jagals & Sly 2016). So, they do not have to be
engaged in any form of employment. Instead, they should be given enough time to seek for
education because it I what matters for them. I, therefore, suggest that any serious employer
should refrain from recruiting children. Instead, they should only hire adults who are authorized
to seek for employment.
Do politics manage markets? - UBS Investor Forum, April 2018
This video clip is just one hour and twenty two minute-long. It presents a brief and
insightful discussion on the role of politics in economics. According to the forum speaker,
politics is supreme because it plays a dominant role in economy. The speaker illustrates how
politics has been occupying a dominating role in the society. It is the politics that determine how
business is done in the country, region or the world at large. The speaker makes that argument

4
because world over, all the countries are controlled by the politicians who have got powers to
determine the fate and shape the direction of the country.
There is a section of the forum speakers who believe ha politics positively impacts on the
economy. According to such speakers, there are politicians who are in a better position to make
brilliant decisions aimed at the growth of the economy. As the topmost leaders who are charged
with the responsibility of making decisions, the politicians can determine the fate of the
economy. The legislations give the politicians can contribute towards the growth of economy. I
agree with this argument because it makes sense (Ringen 2017). It shows exactly what happens
in the society today. It is true, as the speakers argue that politics can help in promoting economic
growth by advocating for and actually creating a favorable market environment for all. The
politicians can achieve this goal by formulating and adopting favorable policies and laws that are
aimed at supporting commerce, stabilizing the economy, and supporting economic growth at all
times (Robison & Ritchie 2016).
There is also a section of the speakers who blame politics for the mismanagement of the
economy. According to such speakers, the politicians who have powers to influence the country
sometimes fail to use their position to positively transform the society. Bad politics create
volatility in the market. Meaning, it makes the market unfavorable and not accommodative for
the traders who are willing to invest their money so as to create wealth. This is a right argument
because it shows exactly what happens in the market. It is true, as these speakers argue that the
politicians make the market volatile. This happens because of many reasons (Dickovick &
Eastwood 2016). First, the politicians can cause civil unrest in the country that can end up
derailing the process of economic growth. Besides, the politicians can pass legislation that does
not favor business activities such as high taxation.

5
From this video clip, it can be concluded that politics have a positive and negative effect
on the market. The passing of favorable and protectionist policies might favor business in the
country. Good policies are suitable for the market because they create opportunities and make
business prosper at all times. However, this cannot happen if the politicians fail to use their
position well. It is true that bad policies and political decisions might make the market to be
volatile and unsupportive to many investors no matter how committed and dedicated thy might
be. Because of this, political power should be used well for the benefit of the economy.
Australia's population: How big is too big? Australia 2050 (part 1) | 7.30
The video clip gives brief, but informative information on the high population rates in
Australia. From the narrations and pictorial presentations, it is obvious that Australia has a high
population. It is also obvious that the high population has also had its adverse effects on the
Australian society. Even if the focus of the discussion tends to shift towards the bourgeoisie
class, the whole truth is that high population is both good and bad for the country. The benefit of
the high population is that it creates an expansive labor force and market for the commodities.
However, its disadvantage is that it causes over-utilization of resources as well as low living
standards in the country.
Based on the information from the video clip, it can be observed that the increased
population can benefit Australia in many ways. One of the ways through which the country can
benefit from its high population is that it has a ready market for commodities. If the trend in
population growth continues, Australia will emerge as an ideal export destination. The
commodities imported in the country will be sold because of the high demand caused by the high
population. Once the population is high, demand also becomes high. As a result, the number of

6
imports increases (Easthope, Stone & Cheshire 2018). Thus, the end result is that many
importers will have to import their commodities in the country. That can be a good thing because
the economy will be doing well. Apart from attracting imports, the country will also attract
foreign investment.
The other way through the high population will benefit the country is that it will
strengthen and increase the productivity of the agriculture and manufacturing sector. This will
happen because of two reasons. One, the high population will be a source of labor to the sector.
If there is a ready labor, the sectors flourish because they can operate efficiently and smoothly at
all times. At the same time, the population will help in the creation of enough market for all the
agricultural produce and manufactured products. Once there is a stable workforce and market,
the two sectors will have to develop because they will play a significant role in their stability
(Whisson, Dixon, Taylor & Melzer 2016). Nevertheless, to improve the situation, the
government still has important contributions to make such as creation of resources, provision of
health care services, and family planning initiatives. Each of these strategies can enable the
government to stabilize the population and make it sustainable at all times.

7
References
Dickovick, J.T. & Eastwood, J., 2016. Comparative politics: Integrating theories, methods, and
cases. New York: Oxford University Press.
Easthope, H., Stone, W. & Cheshire, L., 2018. The decline of ‘advantageous disadvantage’ in
gateway suburbs in Australia: The challenge of private housing market settlement for newly
arrived migrants. Urban studies, 55(9), pp.1904-1923.
Morrissey, T.W., 2017. Child care and parent labor force participation: a review of the research
literature. Review of Economics of the Household, 15(1), pp.1-24.
Ringen, S., 2017. The possibility of politics: a study in the political economy of the welfare state.
New York: Routledge.
Robison, L.J. & Ritchie, B.K., 2016. Relationship economics: The social capital paradigm and
its application to business, politics and other transactions. New York: Routledge.
Sarkar, J. & Sarkar, D., 2016. Why does child labor persist with declining poverty?. Economic
Inquiry, 54(1), pp.139-158.
Sly, J.L., Moore, S.E., Gore, F., Brune, M.N., Neira, M., Jagals, P. & Sly, P.D., 2016. Children’s
environmental health indicators in Australia. Annals of global health, 82(1).
Whisson, D.A., Dixon, V., Taylor, M.L. & Melzer, A., 2016. Failure to respond to food resource
decline has catastrophic consequences for koalas in a high-density population in southern
Australia. PloS one, 11(1), p.e0144348.