My Recent Cuba Trip and Life With Brand New Perspectives

Destination Cayo Santa Maria, Cuba

First Published Date : January 28, 2011

Living in one of the wealthiest nations on Earth where resources are plenty and where many of us can afford to buy anything we want, we often forget how fortunate we are and take everything for granted. My recent trip to Cuba added brand new dimensions to my life, and I am more grateful to God (or mother nature, if you don’t believe in God) than ever before for what we have.

To help you visualize what I really mean, consider that in Cuba:

– You have no freedom.

– You are not allowed to start a business and make money (like anywhere else
on Earth).

– There is no wage difference between a highly-educated professional and a general worker.

– You don’t own anything. Everything belongs to the government.

– Let’s say you have a cow and you get milk from this cow; you wont be able to keep this milk and the cow belongs to the state as well.

– You are prohibited from using the Internet and can’t read any newspaper and books as well.

– You are not allowed to leave your own province.

– Boarding on a plane and going to a foreign country is an impossible dream which will never come true.

– And much more.

However, there are good things I have noticed in Cuba as well. Today, I am going to take you to my Entrepreneur Journey site to read a very different type of article based on my Cuba experience. Let me disappoint you ahead of time if you are hoping to read a nice travel-log type of article, because it isn’t. Although it has some travel elements, it is more filled with socio-economic aspects – the Cuba I have seen and analyzed from different angles. What I can tell you for sure is that you will like it – because it is different.

Is Canada Going To Be A Future Global Business Centre?

Canada – The Global Business Centre

First Published Date : February 9, 2011 ADawnJournal.com

Canada has one of the largest economies on the planet and is a world leader in terms of investment, resources and more. Go anywhere in the world and people will speak highly of Canada and the people there. It should come as no surprise then that the country is well known for being a great place for companies to do business and this is why Canada has the strong possibility of becoming a future global business centre for the world. While many people tend to think more of the United States than Canada, Canada has many things going for it. For one, it typically has better relations with other countries than their southern neighbour and while 75 per cent of the country’s trade is with the United States, that is rapidly changing as emerging markets in India, China, Brazil and Russia begin trading with Canada.

Currently, the Foreign Direct Investment into Canada, over the course of the first decade of the 21st century, has amounted to nearly $400 billion, which happens to be higher than Brazil, India, Mexico and Russia, all emerging superpowers. Foreign direct investment is how much a country trades, long-term, with another country and can include goods, experience, technology and more.

Currently, the total exports and imports of merchandise for Canada make up 58.9 per cent of the Canadian economy, making it one of the most open economies on the planet.

Canada also has one of the highest levels of economic freedom in the world, a very low level of employment and it was one of the few countries to get through the global financial crisis with not too much difficulty.

Another important fact showing how much foreign investment is coming into Canada and why it is a global business centre is based on the fact that according to Forbes magazine in 2008, Canada has 69 of the worlds largest companies working in the country, putting it fifth next to France. In addition, the government debt of the country is one of the lowest on the planet and the lowest of all the top eight (G8) economies on the planet.

International trade is an immense part of the Canadian economy because of its high amount of natural resources. The largest exports in Canada are found in the agricultural, energy, mining and forestry sectors, accounting for 58 per cent of the country’s exports. Canada also exports machinery, equipment, automotive products and other manufactured goods make up 38 per cent of the exports in the country. With the combined exports and imports of the country, Canada ranks eighth on the planet.

Another main reason that Canada is a global business centre of the future is because it has several free trade pacts in place, as well as in the works. Current free trade pacts include the Canada-U.S. Free Trade Agreement, the North American Free Trade Agreement, the Canada-Israel Free Trade Agreement, the Canada Chili Free Trade Agreement, the Canada-Costa Rica Free Trade Agreement, the Canada-European Free Trade Association Free Trade Agreement, the Canada-Peru Free Trade Agreement, the Canada-Colombia Free Trade Agreement, the Canada-Jordan Free Trade Agreement and the Canada-Panama Free Trade Agreement.

Currently, Canada is negotiating having a free trade agreement with the following countries and political entities: Ukraine, Morocco, India, South Korea, Dominican Republic, Singapore, Andean Community, Caricom (Caribbean community), European Union and a possible Canada Central American Free Trade Agreement.

Canada is working hard to become a global business centre and that is evident through several programs running within the country, including ConsiderCanada.com, which is helping to get countries investing within Canada to help themselves and the Canadian economy.

The government of Canada has also created the Invest in Canada organization, which promotes and attracts foreign direct investment in Canada. The organization operates as a bureau of the Department of Foreign Affairs and International Trade. The goal of Invest in Canada is to get companies planning on investing in Canada more information to do so, and to get those already invested in Canada to expand their operations within the country.

Invest in Canada, as does ConsiderCanada.com, helps guide companies through the investment process from giving information to helping them choose a site for their business.

With organizations devoted to helping Canada become the global business centre of the future, and an economy already suited to foreign investment, what more evidence is there that Canada is the global business centre of the 21st century? Well, these facts are what companies are looking at when they are thinking of putting their operations in a country.

1.   Canada has the soundest banking system on the entire planet, which is incredibly important right now in tough economic times. While the United States had several banks fail during the global recession, Canada had none. This is why the World Economic Forum chose Canada as the best banking system country on Earth.

2.   Canada has the highest proportion of post-secondary graduates in the Organization for Economic and Cooperative Development.

3.   Canada has the fastest economic growth in 2011 for all the G7 countries, which include the largest economies on the planet. In addition, it also has the lowest debt-to-GDP ratio in the G7 and the lowest taxes on new business investment in the G7. Canada also has the lowest research and development costs in the G7.

4.   Canada has a very high quality of life and is often chosen as the best country to live in on Earth.

One major factor to Canada becoming a global business centre in the coming years was put in place by the Government of Canada in 2010 when they announced the initiative to reduce tariffs on all manufacturing inputs down to zero per cent by 2015.

So, is Canada the global business centre of the future? According to these statistics, yes it is and many companies are now investing heavily in the great white north because it is the right country to be in at this time.

Singapore Airlines SilverKris Lounge at KUL Review: Malaysia Travel Blog

Kuala Lumpur Travel Blog: Part 10

My flight to Toronto (YYZ) was divided into 3 parts. The first leg of my journey was on Singapore Airlines Business Class from Kuala Lumpur to Singapore (KUL – SIN). This was my first time flying Singapore Airlines and trying their business-class lounge, which was called SilverKris Lounge.

The lounge was located in the KLIA Satellite Building, which was far from the main building. SilverKris Lounge, which is also a Star Alliance-affiliated lounge, was located on the mezzanine level. You will find other lounges on the same level.

It was difficult to find this lounge and I had to ask a few times for someone to point it out. There was no proper signage directing travelers to the SilverKris Lounge. However, it was close to the Thai Airways Royal Silk Lounge, which had adequate signage. People told me to find Royal Silk Lounge first and then look for the SilverKris Lounge close to it.

The SilverKris Lounge was really small and one of the worst lounges I have ever experienced. I didn’t find the receptionist or attendees too friendly, which was a contrast with Singapore Airlines’ friendly service in general.

There were not too many seat options. Food selection was poor, too. There were alcoholic and non-alcoholic beverages. I only tried some light snacks and coffee.

The restroom was very small and didn’t feel like a lounge restroom. Usually, I video lounge restrooms for lounge reviews on YouTube, but refrained from taking any video or pictures because there was nothing to show.

The best part of the lounge was the nice runway views. I spent my time watching planes landing and some Malaysian Airlines planes loading cargo.

Japan Economy and Debt Crisis

Japan’s Debt Crisis

First Published Date : February 13, 2011 ADawnJournal.com

Japan has always been seen as an economic powerhouse ever since the miracle growth of its economy occurred from the 1960s to the 1990s. Japan went from a war ravaged country to one of the leading economies on Earth. However, even one of the most powerful economies on Earth is not immune to the debt crisis.

One of the main reasons for Japan possibly moving into financial crisis is debt and the fact that the average Japanese individual holds part of the government-debt. In fact, domestic holdings of debt in Japan is 94 per cent, compared with just 50 per cent in the largest economy on the planet; the United States of America.

What’s more, Japan has the second largest debt compared to its gross domestic product on Earth with the country running its debt to 196 per cent of the GDP. You know what other country has more debt that Japan? Zimbabwe. Yes, that is right one of the most poorly run countries in Africa is the only country beating Japan in terms of debt load to GDP. Japan borrows 50 cents on every single dollar, which is a huge debt load.

Inflation is also increasing in Japan with meat and fruit prices reaching 10.3 per cent inflation in Japan. Compare that with other countries that are industrialized and in most cases it is 10 times as high.

Japan’s credit rating, once one of the best in the world has also been falling. According to Standard & Poor, which does the ratings for countries, the country fell from AA to AA- because of the aging population in the country (it has the highest life expectancy on Earth) and the high debt ratio of the government.

Many economists are looking at Japan right now since it weathered through much of the Great Recession without much trouble to its economy. However, with growing debt ratios, inflation and more in the country, there is cause for some to worry. Japan has the third largest economy on Earth behind the United States and China, and with the United States already dealing with financial crisis, having Japan fall into the same situation would be disastrous. Japan is also a huge importer of goods, and without its buying power, many other countries would then suffer with a loss of trade.

The domino effect is something that is worrying many investors and economists but if one thing Japan has proven to be it is resilient. There is a good chance that the country will manage through this crisis and possibly stave off financial meltdown.

Japan is a stable country and there is little risk of government protests but again it is not right to say it won’t happen. With more and more people taking on debt from the government, inflation and more, people could rise up and the stability of one of the most important nations on Earth could be threatened to the level not seen in over 50 years since World War II.

How To Open A Yuan Bank Account

Opening A Yuan Bank Account

First Published Date : February 16, 2011 ADawnJournal.com

Recently, China moved a step forward in terms of economic integration with the rest of the world when it allowed, for the first time ever, accounts in the United States to be opened under their currency; the Yuan. This is a big step for China, which will soon become the largest and most powerful economy on the planet and many see it as a sign China is opening up to the rest of the world.

So, if you are thinking of opening an account in the Yuan, what do you need to do to make it happen? Well, first of all, if you live in the American Midwest, you are out of luck because you are as about as far as you can get away from where you can open up a Yuan bank account, unless of course you live in Alaska or Hawaii.

No, there are only two places in American where you can open an account in the Yuan, and those are New York and Los Angeles, which happen to be on opposites ends of the country from each other.

This is a huge step forward for China because for years the country kept a tight grip on its exchange rate through its restrictions on the number of Yuan bills that could be brought into, and taken out of, the country. China didn’t want a lot of bank accounts being used in the Yuan because if a large group of people take out accounts in Yuan, it pushes up the exchange rate of the currency since there is an increased demand for it. If that happens, then China can no longer offer cheap goods and services to the rest of the world, which would affect its economy in a monumentally horrible way.

As for why you would open an account in the Yuan, the two biggest reasons are because it diversifies your currency portfolio and if the value of the Yuan increases, you benefit.

Now, how do you open a Yuan currency account? Here are a few easy steps.

1. First, go to New York or Los Angeles to a Bank of China office.

2. Next, you will need $500 at least to open up a U.S. dollars to Renminbi (RMB) account.

3. In order to open a RMB account, make sure you have two forms of identification, a W-9 form and a signature card.

4. You will need to fill out an application on a saving account because you cannot open a checking account that is RMB. This means you can put money into the account, but you cannot take money out, as of yet that is.

That is all there is to opening an account that is in the Yuan. In the future, as China becomes more powerful, you will begin to make a lot of money off your decision to use the Yuan in the account instead of the dollar, which itself is becoming weaker as time goes on and we move into the 21st century.

NB – In Canada, Bank of China is not offering a Yuan currency account yet.