I.On The 23Rd Of November, 2016, The Economist Magazine

1259 WordsMar 4, 20176 Pages
I. On the 23rd of November, 2016, the Economist magazine explored the impact of Donald Trump’s (president of the United States) decision to leave the Trans-Pacific Partnership (TPP). II. http://www.smartcompany.com.au/industries/retail/71590-more-than-60-australian-geographic-retail-stores-to-close-in-2017/: On July 11, 2016th Dominic Powell reported on the popular science and Australiana retail brand Australian Geographic Retail has closed sixty-seven stores in order to recover its loss of profit. III. http://edition.cnn.com/2017/02/19/asia/china-coal-north-korea-ban/ On February 20th the CNN reported on China’s decision to halt all coal imports from North Korea as part of its effort to enact United Nations Security Council sanctions…show more content…
II. Popular science and Australiana retail brand; Australian Geographic Retail has begun closing down sixty-seven of its stores across Australia, as owner Myer Family Investments (MFI) seeks to close the loss-making business. MFI bought the Australian Geographic chain in 2007, but due to increased retail competition from stores such as Kmart and Target, the brand has recently failed to return profits. Where the stores have “recently begun a process which will likely lead to a controlled exit from its retail business during the first half of 2017”. As a result of globalisation, multinational co-operations are forcing smaller and local businesses to close their doors through the use of online retailing and lower prices, depriving the smaller businesses of demand and revenue. These lower prices will benefit the consumers, saving them money, yet this comes at the expense of others. In particular, third-world countries and their undeveloped regulation systems are being exploited for their cheap labour, lowering their living standards. This decreases the cultural diversity of products, as consumers will be restricted to the goods supplied by the multi-national co-operations. III. China has made the decision to halt all coal imports from North Korea for the remainder of 2017 due to the growing tensions on the Korean Peninsula following Pyongyang 's most recent missile test. In 2014 86% of

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