Currently Saudi Arabia is one of the leading producers of oil in the world. However, it is losing its foothold on the market. Many countries, like North America, are increasing their oil production and are looking for ways to become less dependent on foreign oil. The increased competition has caused oil prices to decrease. By producing their own oil, countries not only will increase their revenues, but will also reduce their need to rely on foreign oil. By reducing their need foreign an oil a country does not have to worry that their oil supply will be cut off if they go to war.
The network of the international production created by means of direct foreign investments, in economic literature it is accepted to call the second economy. Development of economy of the majority of the countries is based on achievements of scientific and technical progress, use of scientific data. 70% of scientific information contain in the American databanks (About the USA). As even in Europe and Japan there are no equivalent databanks, still a long time their scientists, engineers and businessmen will continue to get knowledge generally from the American sources.
Oil has often been referred to as any economy’s lifeblood. Although this is an overemphasis, oil has been the key, nonhuman resource of the economy throughout the largest part of the 20th century. In the book “The Prize: The Epic Quest for Oil, Money, And Power” by Daniel Yergin, the author illustrates the political, societal, economic, and geo-strategic importance of this product.
According to Diamond, oil-states can be generally defined as countries whose economies are dominated by oil. Among “the twenty-three countries whose economies are most dominated by oil today, not a single one of them is a democracy. (Diamond 74)” When oil initially becomes a large source of revenue for countries, negative effects immediately occur. One major reason for this is that when an economy is dominated by
The United States has an absolute advantage over the technological products and services which are critical. Within the global markets, the U.S has been able to provide tech products and services appropriately. However, it has comparative advantage of offering tech services while the absolute advantage exists in technology design and providing industrial capacity. The U.S is a major exporter in the international markets of products such as civilian aircraft, semiconductors, cars, car accessories, fuel oil, and organic chemicals among others. Such exports improve the U.S's comparative and absolute advantage.
Power Distance dimension according to Hofstede (2010) shows the degree of less or more accepts of inequalities within a culture; Canada was 94 while the Philippines was 32 clearly difference; therefore, showing one culture accept power inequalities more than the other. Power distance lower ranking is showing a culture expect and accept relationship that are more democratic. On the other hand, higher ranking accepts hierarchical. This cultural may believe that who every holds the power is right. On the Power Distance Index Hallale find that individuals have a solid dislike with saying "no'! especially in Asian nations. Saying no may be seen as form of disrespect Hallale (2013). I lived in the Philippines when President Ferdinand E. Marcos was President and the assassination of opposition leader Benigno Aquino. At that time, I was unaware of a hierarchical society but thinking back; I can now see how 32 power distance scale ranking is believable because social positions and statuses have more prestige in their culture. While working, and traveling to Canada; I was able to see human equality especially with respect to socials issues; rules are used to determine what is right; for example, health care. all
After comparing how this person thought their top and bottom five strengths should be ordered versus where the actual results placed them, we would review the descriptions of the strengths that they want to increase in the rankings. For example, my lowest ranking strength is “Modesty and Humility”, an area that I thought would have ranked much closer to my top five strengths. The description of this trait says, “You do not seek the spotlight, preferring to let your accomplishments speak for themselves. You do not regard yourself as special, and others
It's really funny when I think about these strengths, because when I read them, I see me. Because of my restorative strength, I understand my sensitivity. I never like when the peace is disturbed. I like to bring people and situations together and when that does not happen, I get either sad, angry, or frustrated. However God has given me my communication skills to settle those disturbances of peace. I love having a say in things(input), and if another person is being harmed in the process you bet I will speak up. I strategically plan out the situation in my mind and think of
Economic stability should also play a large role in holding superpower status. Finally, any nation wanting to consider itself a superpower should have a strong, uniform foreign policy which bends under no circumstances. Using these criteria to determine whether a country is deserving of superpower status will show that over the past ten years the United States has not been taking on the responsibility that goes along with being a superpower.
It respects less developed nations' independence. In this way, the superpower becomes somewhat isolationist, because a superpower usually has the ability to be self-reliant if needs be. Indeed, it follows that if the superpower does in fact simply preside over itself, it will eventually become isolationist. A major problem with this approach is that it may cause a superpower to consume its resources, so then when it attempts to regain its authority over the rest of the world after being isolationist for so long and now having limited resources, it is no longer an intimidating force, and thus loses its superpower supremacy. The original empire of China was technologically superior to the rest of the world at that time, but it was isolationist and eventually overtaken as the rest of the world advanced (Further information located in Encarta Encyclopedia for Windows).
Power/Distance (PD), “refers to the degree of inequality that exists- and is accepted- among people with and without power. A high PD score indicates that society accepts an unequal distribution of power, and that people understand “their place” in the system. Low PD means that power is shared and well dispersed.” (www.mindtools.com) As an example from the article, Myers goes on to say, “there were basically four levels: VP, director, manager, and worker bee. You only talked to people at your level.” SK Telecom boasted that
Russia's new strength is also based on its vast reserves of oil and natural gas, which as the price of crude exceeds $ 120 per barrel, give the country tremendous bargaining power, not only in its relations with countries directly dependent on its supplies as Ukraine, Germany and Hungary, but, in general, by the capacity of influence that give
The oil industry is one of great power that countries are invest in. Russia is one of the leading contenders in producing oil and exports the goods to various countries. With great resources comes great strength. Oil is of the utmost important to every country therefore, Russia has an upper hand in some respects. Moreover, the history behind the oil pipelines and how Russia connects to different countries allows for insight into the power they withhold politically and economically, and on the improvements that need to be made to continue growth in this industry.
The term superpower is used very loosely in order to express some outstanding achievements. A superpower is a state that has enough dominance to enforce its will over less powerful nations in a political, economic, military or cultural dimension.