“When studying the role of money in the economy, economists usually use a slightly different version of the quantity equation that the one just introduced.” (Mankiw 108)

“When studying the role of money in the economy, economists usually use a slightly different version of the quantity equation that the one just introduced.” (Mankiw 108)

Citation

Mankiw, N. Gregory. Macroeconomics. Macmillan International Higher Education, 2019. 108.

APA:

According to Mankiw (2019), “When studying the role of money in the economy, economists usually use a slightly different version of the quantity equation that the one just introduced.” (p. 108)

Reference

Mankiw, N. G. (2019). Macroeconomics (p. 108). Macmillan International Higher Education.

 

 

Question 2:

Some scientists claim we have 20 years to save the world while others claim we have 12 years, but conclusively, they all mean we have limited time to salvage our planet by addressing environmental protection issues. Global climate conferences are held to evaluate the future of the world in the face of global warming. Reports on climate change suggest that carbon dioxide emissions should be reduced by 45 percent by 2030, an aspect that is yet to be achieved. Earlier, top environmental scientists claimed that 2020 was the deadline for corrections on environmental pollution. Therefore, it could be too late to save the earth, should we politicize the issue of altering environmental protection policies.

The 21^st century has seen people become more conscious of their environment and are, therefore, making demands on environmental protections, which makes politicians react objectively to the issue. Countries like the U.K. have legislated to have no emissions by 2050, which will help correct global warming (Walker, Mason, & Carrington, 2019).

The proactivity of governments, the world has been saved before considering that aerosol gasses were damaging the ozone layer in the early 1980s have been eliminated from circulation. Addressing the climate change issues by forming movements and developing laws, as is underway, could be an answer to the already escalating global warming effects.

However, some countries consider environmental protection a political move to slow down their economies. Saudi Arabia’s Aramco, a state-owned company that contributes significantly to the country’s economy, produces 4.38% of carbon emissions and ranks among the highest carbon emitters alongside Chevron and Gazprom (Taylor & Watts, 2019). Saudi Arabia is accused of playing an influential role in manipulating climate change policies at U.S. domestic policy battles and U.N. conferences. Should countries like Saudi Arabia politicize the issue of climate change to keep improving their economies, companies like Aramco will undoubtedly lead to the destruction of the earth in no long time.

References

Taylor, M., & Watts, J. (2019). Revealed: The 20 firms behind a third of all carbon emissions. The Guardian, 9.

Walker, P., Mason, R., & Carrington, D. (2019). Theresa May commits to net zero U.K. carbon emissions by 2050. The Guardian, 11(6), 19.

Question 3:

PESTLE Analysis

PESTLE is a management tool used to evaluate the macro-environmental factors and is generally conducted in projects and businesses. According to Perera (2017), PESTEL is highly used to evaluate a highly dynamic business environment. PESTLE is an initial for political, economic, social, technological, legal, and environmental factors. According to Oraman et al. (2018), the tool is essential to evaluate and develop business strategies to assist in overcoming the challenge of market penetration.

Political Factors

China is among the most influential and politically controversial countries in the world alongside the United States and is involved in the U.N. Security Council. Globally, it is the country with the largest landmass and has its capital in Beijing. China’s current ruling party, the Communist Party of China (CPC), is also the first party, and it is managing the country’s political environment. However, compromising the political arena in the country is a cause of concern on China’s political openness. The stable political system could explain the $135 billion foreign direct investment in 2018 (Reuters, 2019). It is important to note that the recent protests in Hong Kong and China’s relationship with the U.S taint the country’s political image.

Social Factors

According to World Meters (2020), China’s population is over 1 billion people, which is 18.5% of the world’s total population. Companies take advantage of the broad market to sell their products and gain massive profits. The average wage level has risen over the last decade, which has resulted in increased consumer spending. People in China long for status symbols, for instance, the latest smartphones, designer clothing, and luxury vehicles. Such are opportunities are explored by local and foreign companies like Adidas and Samsung. China has a literacy rate of 96.4%. As seen in the report by China’s State Council Leading Group Office of Poverty Alleviation and Development in 2018, the country had reduced poverty cases by 68 million over the last five years. One of the leading social concerns is the increasing aging population, which can be corrected by increasing the birth rate.

References

Oraman, Y., Unakitan, G., Konyali, S., Basaran, B., & Abdikoglu, D. I. (2018). WHAT EXTERNAL AND INTERNAL FACTORS AFFECT ORGANIC FOOD SECTOR?. New knowledge Journal of science, 7(2), 33-44.

Perera, R. (2017). The PESTLE analysis. Nerdynaut.

Reuters. (2019, January 12). China says will reduce foreign investment curbs, 2018 FDI rises 3 percent: commerce minister. Retrieved March 9, 2020, from https://www.reuters.com/article/us-china-economy-investment/china-says-will-reduce-foreign-investment-curbs-2018-fdi-rises-3-percent-commerce-minister-idUSKCN1P60HG

World O Meter. (2020). China Population (LIVE). Retrieved March 9, 2020, from https://www.worldometers.info/world-population/china-population/