Are International Students Being Taken Advantage Of?
Posted: March 20, 2012 Filed under: Uncategorized 1 Comment »In China, I saw how important education is to families. Since most Chinese families have only one child, there are high expectations to succeed. Also, there is a well known cultural note where the Chinese often save money for their child. I am not familiar with the Korean culture, but from my Korean friends, I see that there is a strong emphasis on education. In addition, I have witnessed my personal friend from Europe and the difficulties he has had because he is not an America citizen.
Understanding the Chinese culture, Korean Culture, and talking with my friends, I have begun to see a new side to education. The business side.
As I go to class, I walk by a lot of students who speak Chinese. I barely understand them, but then two feet away, I hear a group of Korean students speaking with each other in their native language. New York University is well known for the diverse international presence in its student body, but do these students have the same opportunities as American students?
Apparently, most international students have to pay full price for their tuition. At New York University, that is a steep price. If an international student wants to become a doctor, he has a slim chance to attend medical school, since medical schools accept few international students. When students apply for internships or jobs in the work force, many have to look for an employer who is able to sponsor them for a visa. With no visa, they cannot work in America, thus they will have to return to their home country. Also, finding an internship is even harder, especially in New York City, since they are competing with students who are familiar with American culture and with the language and most NYC internships are unpaid. Moreover, most international students are not aware of the American culture for various reasons. They hold true to their personal culture, but in America, things do not work exactly the way things work in China, Korea, amongst other countries.
The chips are stacked against these students from the beginning. When most of our parents have come from abroad and fulfilled the American dream, these students arrive here with the same intention, but I believe they are taken advantage of. The schools understand that it will be tough for the students to find a job in any field, and if the students do not have a pro-career attitude and start to find work experience early, it will be a long uphill climb. With this being said, high ranked and middle-tiered colleges are able to get full-tuition from a student who, will in the end, not be able to properly utilize the degree that they earned.
All in all, this is the journey of life. People will go through these things where they will feel being taking advantage of. If nobody made any mistakes, life will not be enjoyable. All I am saying is that this is a growing trend and I hope that employers and universities help these students, instead of just taking their money.
Can Paid Internships Become A Reality?
Posted: March 19, 2012 Filed under: Firm Asset | Tags: firm assets, interns, work force 1 Comment »
Unpaid internships need to stop. People complain about the work conditions in China and other developing countries. Well, I have concerns regarding the work culture within New York City.
There are no unions for interns. Many interns get no pay, no stipend, and no reimbursement. Many companies have taken advantage of these students for a long time and the companies themselves are aware of it. There are some great bosses. I have had many of them, but I also have heard stories where the my friends were not so lucky.
Also, better ranked universities are preferred over other universities for these internships. Within the workforce, this is a well known fact, but I have met a student who recently transferred from a community college and he is more creative than I am. After visiting Philadelphia, I know people who barely have a high school diploma, yet they understand business better than people I have met in New York City.
Is it worth it? I have yet to find out. Most students in the fashion business have to deal with unpaid internships from the beginning of their career because that is how the fashion business works. Just starting out in the finance industry, expect to do at least one unpaid internship just to step into the industry and to make connections. In medicine, you better have volunteer hours on your resume or else employers will question you about your client-patient experience. In the tech industry, it will be advantageous to gain some experience to show that you are able to work within a team and show that you have communication skills.
All that I want is for some compensation. It should be tax-deductible and the American government should recognize this need. If you give companies an incentive, your giving the future workforce an opportunity to gain more skills to expand their human capital. How does that not make economical sense? Does it require companies to declare more employees on their taxes, so they are forced to pay more taxes to the government? Well, this needs to change.
Do Sanctions Work?
Posted: March 1, 2012 Filed under: Economic Policies, Firm Asset | Tags: Firm Asset, sanction, syria 2 Comments »
While reading the news recently, I have been seeing the word ‘sanction’ multiple times. While listening to the news on various channels, many report on countries that are being sanctioned in the world by international organizations or by various countries. Pondering about what do sanction exactly do, I thought about the implications of a sanction. Some countries use sanctions as a way to punish another country to stop doing things that may be harmful to the world or to their own people. Of course, this is their opinion, but doesn’t the sanctions ultimately hurt the general base population more than the more privileged in the society.
One way to sanction a country is to stop its international trade and to stop its international transactions with its central banks, which both lead to a heavy impact on the economy of the country. Ultimately, it will leave less money in the peoples’ pockets as a whole, which means less money circulating in the economy, which leads to less economic growth. The consumption is lowered, investment will take a hit since their is no strong investment that will be profitable, and the government has a cut in funds since the tax revenue will decrease. My intuition states that if all these negative events occur simultaneously, won’t the people begin to revolt and question the government or the particular reason they are being sanctioned? With a riled population, the government may become afraid because their power will become undermined leading to a possible regime change. This will probably be the ultimate result that the countries or organizations enforcing the sanctions want.
There are some instances where I can understand why this process is effective, however, doesn’t it show that the country or organization that has the power to sanction, has too much power? If someone has enough influence to stop another country’s economy, basically it can control that country on the basis that money is the very important to any country’s existence. From another aspect, what if the government that the sanctioned country was voted by its people. Now after being voted by the people, a foreign country imposes sanctions. This seems to me that this does not give the general population of that country the proper rights as they deserve to elect their own officials who they feel represent them.
After learning more about what is happening in Syria and the sanctions that are being imposed on that country, a person who supported the opposition to the Syrian government stated that they general population want the sanctions because it will threaten the current government to clean up its act on its corrupt ways. He admitted that the Syrians are sacrificing today for a better tomorrow. But, how long will they be able to handle this and will their economy be hurt for sometime to come in the future? Will they be able to handle a new lifestyle after their is a regime change?
I hope that I at least brought another side to the impact of sanctions. If I made have stated something incorrectly, let me know, however, if you have an opinion, I would love to hear it.
泰国是好的投资
Posted: February 25, 2012 Filed under: Firm Asset, Thailand | Tags: Firm Asset, Investment, Thailand 5 Comments »
现在我忙着中文学习可是我有一点时间可以写一篇文章。今天我看了一个很有意思的文章。文章说对新兴市场来说, 然后中国的经济增长第二好的国家的经济是泰国。我感觉本来这个意见有一点儿奇特因为我对泰国的印象是不好。为什么呢?因为最近泰国有很多自然灾害和经济灾害,比如说,1998年,亚洲影响泰国经济,亚洲让泰国很大的经济问题,2011年泰国有一个很大的暴雨造成很多城市和村庄消失。这些事很惨然可是平常泰国恢复。
泰国怎么恢复呢?Bloomberg 说尽管泰国有很多自然灾害和政治问题,很多外国公司已在泰国投资。日本是泰国最大的投资,在2010年日本花了差不多31.5亿。日本的汽车公司叫Toyota 从1962年它们带了泰国。它们建厂了。然后别的日本公司也建了自己的厂例如Sony和Canon。
别的国家也在泰国投资,特别是美国。美国科技公司叫Intel和Seagate Technology Plc 在泰国有自己的厂。这个意思是泰国的劳动力很聪明比别的发展国家好。美国的汽车公司叫Ford也在泰国有运作。这个意思是对厂的运作来说泰国是一个好的国家。
看Bloomberg的文章以后,它换了我的印象。虽然泰国有政治问题和自然灾害可是如果你需要聪明的劳动力泰国是一个好的国家。你应该在那边投资。
Source: http://bloom.bg/AcGjFS
What is a Firm Asset?
Posted: February 23, 2012 Filed under: Firm Asset | Tags: Fahad Shareef, Firm Asset 5 Comments »A firm asset is strictly an objective opinion of what I believe is beneficial economic insight for people who are interested in global economics. I am an undergraduate student who is studying Economics and has a concentration in Chinese. When I read about the global economic news, there are some aspects of economic insight that I feel is not taken into consideration. For example, there has been a growing real estate bubble in China, but in my opinion, I realize that some of the demand that fuels home-buying is that when a woman marries a man, she would prefer a man who is stable and has his own home. This drives the demand of buying a home and thus increases the price of property. This is a part of the modern Chinese culture and because China has such a large population, the amount of marriages they have is probably larger than that of foreign countries. As long as woman demand homes, the price will continue to go higher. Of course, there is a slow down in growth in China, but this is just my opinion
With my insight taking into account the economics, the culture, and the politics of the issues that I look at, I hope this will help me, as well as, my readers to see a different perspective.
Keep in mind that I am not the most knowledgeable person in Economics, however, it is something that I have an affinity for. If I have made a mistake or said something that was not right, please let me know. I am not perfect, but I do want to maintain my website as a Firm Asset.
With that being said, FirmAssets.com is a website that watches the global curve in the International market.
Saudi Arabia = Firm Asset
Posted: February 23, 2012 Filed under: Saudi Arabia | Tags: Economic City, Economics, Firm Asset, Saudi Arabia 5 Comments »
I think Saudi Arabia will be a growing impact on the global economy. A country that has a history of nomadic tribes and known for its vast amounts of oil is successfully diversifying its business ventures and becoming less oil reliant. Of course, this is a slow transition, but in 2011 “the non-oil component of the economy expanded by 7.8% (http://bit.ly/zOmdVY).” This is a growing trend in other places in the Middle East such as Qatar, where an official has announced investing money into alternative energy’s and in Dubai where it heavily relies on its financial sector, its real estate sector, and its tourism sector.
Although I have heard much about other countries in this particular region, there is not much being reported about Saudi Arabia’s rise in the global economy. Saudi Arabia has been ranked 16th by the World’s Bank 2009 Ease of Doing Business index. It is ranked 27th in the world for global competitiveness. It is building multiple “Economic Cities” across the country to invite foreign direct investment in different sectors of its economy. Recently, Mars Inc, the candy company, invested $210 million for the next 10 years in building a factory that will supply the Middle East region with its products (http://bit.ly/AvKs7Z). In a statement, the Mars Inc. Representative made it a point to say that this move is to “develop and nurture Saudi talent.” However, the future is not relying on just one company that has invested in this particular economic city. In 2007, the government began to develop two economic cities that gave foreign investors a place to settle down as if it was their home country. It is a “policy at SAGIA (Saudi Arabian General Investment Authority) that hosts the needs of the corporations within an environment that suit the needs of businessmen” of foreign countries (http://bit.ly/yrSU5Y).
Having stated many positives about Saudi Arabian business practices has overshadowed the culturally gap that it has holds with Western countries. The treatment of woman in Saudi Arabia is something that is not exactly approved by the U.S.A. and it has a history of not treating lowing class citizens well. My opinion on its treatment of woman is that it is a theocratic monarchy. The country is supposed to follow the rules of the land and these are rules of Saudi Arabia. Things may change in the future and we have all witnessed the changes across the Middle East so we will have to wait and see. The ill-treatment of its immigrant working class is prevalent throughout the Middle East, and every western country has a demographic that is employed for low skill cheap labor so I believe this is an effect of the capitalistic system.
All in all, Saudi Arabia is a Firm Asset. I will include other aspects about Saudi Arabia in later posts such as its investments in commodities and its stock exchange, Tadawul. If I made any mistake please correct me and if you have any questions feel free to comment me on the firmassets website.
奢侈品的消费者
Posted: February 1, 2012 Filed under: Chinese Luxury Market | Tags: China, luxury, Middle Class Consumers 2 Comments »现在, 中国消费者越来越多。对男人和女人来说都喜欢买名牌的东西.再说很多年轻人的零用钱有很多于是他们可以买名牌的东西。一个顾问公司,叫麦肯锡,预报说,“四年以后,差不多760万中产阶级的家庭挣一万5千到三万。二零一零年的时候,差不多1300万中产阶级的家庭赚一样的收入(Roll, Martin)。”为了利用这些人,很多名牌的公司开设很多自己的商店。比如说,最近我最喜欢的名牌,爱马仕,从二零零五年到现在,他的商店多开了四倍。还有,路易威登,也在中国开设了很多商店。现在已经在二十九个城市开设了三十六家商店(Jetley, Neerja Pawha)。其他的名牌公司,也开设起来他们自己的商店,例如,巴宝莉, 迪奥, 和古琦。难怪这些名牌赚这么多钱。再说你可以说中国人的零用钱太多了。
在奢侈品市场上,中国是世界第二。难怪这么多的名牌公司开设的商店越来越多。你可以说,中国人也并不喜欢买假的东西,要不然,他们会去七浦路买假的东西。可是在很大的城市,比如说上海和北京,这些人更加意识到质量和名牌的重要性。这么说中国人更在乎他们的购物。甚至,我的老师,朱老师认为用假的东西很不好意思因为别的人会认为他是一个贫穷人。她告诉过我,如果她在七浦路买了很多东西, 在外面,她会感觉丢脸,结果她最好买真的东西 (朱老师)。
很多外国人认为中国人喜欢买任何名牌的东西可是他们想错了。其实这就要看是不是适合他们。研究告诉我不同的东西,中国人喜欢买不同的名牌。中国人的女人喜欢很多香水和化妆品的公司可是他们特别喜欢香奈儿。在手表上,很多男人爱死了劳力士。最后, 在行李和女人的钱包上,中国人十分喜欢路易威登 (Bain & Company) 。听起来无论什么名牌它们都赚很多钱,可是为什么有的名牌很好卖有的名牌不好卖。这个问题我不知道。可能,它们的广告和商标更漂亮。但是这是我的意见 。
我已经告诉了你很多成功外国的名牌公司可是中国自己的名牌呢?我只听说过两个,叫上海灘和上下。它们是刚开始的所以我不知道它们的将来会不会成功,可是我们会拭目以待 (”World of Shanghai Tang.”)。
Bibliography
Zhu, Hui. Personal interview. 6 Dec. 2011.
Jetley, Neerja Pawha. "Men, Not Women, Drive Luxury Goods Sales in China ." CNBC. NBC UNIVERSAL, 29 Nov. 2011. Web. 11 Dec. 2011. <http://www.cnbc.com/id/45472638/ Men_Not_Women_Drive_Luxury_Goods_Sales_in_China>.
Bain & Company, comp. "China Luxury Market study 2010." Bain. Bain & Company, 2010. Web. 11 Dec. 2011.<http://www.bain.com/bainweb/PDFs/cms/Public/China_Luxury_Market_Study_2010.pdf>.
Roll, Martin. "China’s Expanding Middle Class a New Frontier for Luxury Brands." The Jakarta Globe. Berita Satu Media Holdings, 2011. Web. 11 Dec. 2011. <http://www.thejakartaglobe.com/biscolumns/martin-roll-chinas-expanding-middle-class-a-new-frontier-for-luxury-brands/482615>.
"World of Shanghai Tang." Shanghai Tang. N.p., 2011. Web. 11 Dec. 2011. <http://www.shanghaitang.com/en/world-of-shanghai-tang/charities>.
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