globalEDGE Blog Podcast

Europe’s three largest economies by nominal GDP are Germany, the United Kingdom, and France. As the entire continent struggles through a period of economic turmoil that began in late 2022, how are its top three economies faring?

The Korean skincare industry has taken the beauty world by storm recently. As beauty enthusiasts become increasingly drawn to innovative products and multi-step routines, the focus on achieving flawless and radiant skin has made the Korean skincare industry, in particular, a global trendsetter.

As the rate that games are being developed at increases each day, the gaming industry shows no sign of slowing down any time soon. Although the pandemic prevented many gaming companies from developing new products, it helped the industry see a surge in many new gamers entering the market, leading up to present day. Experts are seeing a rapid increase in the number of people playing games, with a staggering 3.38 billion people worldwide in 2023. As for the global market itself, experts predict $187.7 billion in revenue from the gaming industry this year, according to Newzoo. Large video game companies both abroad and in the United States, such as Activision Blizzard and Riot Games, are experiencing this growth first-hand.

A Sriracha shortage has struck the aisles of supermarkets all across the world. Although this issue has only recently come into the spotlight, this fan-favorite hot sauce, in its green-capped bottle, has been hard to find for years. The sauce's parent company Huy Fong Foods does not have enough of one of its key ingredients, jalapeno chili peppers, to make its product, and supply chain issues may be to blame.

Some of the most valuable shipping routes in the world are in the South China Sea, which is 1.4 million square miles in size. Developing conflicts in the South China Sea are having a significant impact on small businesses. Their location, industry, and reliance on the geographical region for business all influence how much of an effect they have. Around 80% of global trade is carried by sea, and estimates of the volume carried through the South China Sea range from 20% to 33%.

The Panama Canal, one of the world’s largest trading channels, has been dealing with a severe drought this spring and summer, and is expected to continue to experience serious dryness in upcoming months. Panama has two seasons in a year: a dry season and a rainy season. Though the rainy season usually runs from late April until late November, Panama is still experiencing the lowest amount of rainfall since 2000. The unusual drought has caused lower water levels in the canal. According to Boris Moreno, the Vice President of Operations for the channel, the lakes that the passage depends on have close to minimum water levels.

While the words "accessible luxury" may first appear to be an oxymoron, the concept has grown vastly in the past few years. The definition is pretty broad, but typically, accessible fashion includes better quality material and craftsmanship; however, their products are not quite as expensive as the stereotypical luxury companies such as Gucci or Louis Vuitton. Some popular accessible luxury companies include Calvin Klien, Coach, J Crew, William Sonoma, and MAC.

As the world pivots away from fossil fuels and towards a sustainable future, one intriguing option is geothermal energy. By using fracking techniques developed by the oil and gas companies, companies are able to harvest heat from the Earth to power generators connected to the power grid. Geothermal energy is a nearly unlimited power source; according to scientists at Fervo Energy, there is enough geothermal energy in the United States alone to power the country several times over.

Shrinkflation has infiltrated our shopping experiences in more ways than one. From supermarket aisles to the realm of services, it’s a phenomenon leaving consumers both puzzled and frustrated. A variety of companies worldwide are using this cost-saving technique. Companies are reducing the size or quantity of a product while keeping its price the same or even increasing it. In other words, less products cost more.

Welcome back to the globalEDGE blog! The globalEDGE team of talented student writers is thrilled to resume our regular Monday through Thursday blog schedule.

This week marks the end of the Michigan State University Spring 2023 semester, which also closes another school year in the books for the globalEDGE blog team. globalEDGE Blogs will take a break from its regular schedule throughout the summer months, anticipating returning in September 2023.

The two leading generals of the third largest country in Africa have clashed over the country’s vast economic and political power. So, what is happening on the global economic stage in the face of this conflict?

One of the most iconic home brands that has been in business for the last 70 years, Tupperware, is in jeopardy of not being able to “contain” its losses. With operations in over 100 countries and over 10,000 employees, Tupperware has a large international presence, and its products are used by thousands of people every day.

After last month’s largest banking crisis in the United States at Silicon Valley Bank, the stock market faces repercussions. The bank withheld long-term debt that had declined in market value as the Fed raised interest rates to fight inflation. As a result of this, the bank collapsed. Market watchers said that many investors have appeared more fearful of a potential downturn and are concerned about a possible rescission.

The 87th edition of the Masters concluded two weeks ago. The Masters is one of four major golf tournaments each year and is known as one of the most prestigious tournaments in golf. The tournament started in 1934 and saw its 23rd international winner this year, with John Rahm from Spain receiving his first green jacket. Rahm is the first Spanish player to win the Masters since Sergio Garcia won in 2017. This Masters win is John Rahm’s second major and first major win since his 2021 win in the US Open. The total winnings purse from the masters was 18 million dollars this year, and with first place, John Rahm took home 3.24 million dollars with his masters win.

globalEDGE is excited to announce that the site's Coface Country Risk Assessment has officially been updated. Our Coface system depicts the risk assessment, business climate, population, and GDP per capita for a given country. Additionally, it also features the different strengths, weaknesses, and the entire risk assessment as a whole on a per country basis. This part of the site is normally updated once a year and is an amazing resource to monitor the economic status of any given country. To learn more about our sites Coface Country Risk Assessment, visit this link!

Almost every person has grocery shopping as a weekly chore. With the COVID-19 pandemic, there has been a shift in the way consumers shop for their groceries. Companies like Amazon and Instacart were the only options in the past, yet the competition has been changing rapidly with new opportunities entering the market. First, it is a growing industry, with total sales doubling since the start of the pandemic. Consumers in the United States spent USD 1.7 trillion online between March 2020 and February 2022, which is USD 609 billion more than they did in 2018 and 2019. In 2022, the amount of money spent online was expected to hit USD 1 trillion for the first time, according to Adobe, who anticipates that increase to continue this year.

If you are interested in learning more about global organizations, you should visit globalEDGE’s page about them. You can read about over 60 organizations by clicking here.

Almond, coconut, oat, soy, pea, and hemp milk… in an age particularly reliant on Starbucks morning coffee and cycling health trends, the alternative dairy industry is taking the world by storm.

Since the early 1990s, the global economy has experienced significant growth over the last three decades. After an incredible run, the global economy may be headed for a major deceleration. The World Bank has issued a warning that the global economy’s long-term growth potential may be anemic over the next decade, mostly diminished due to Russia’s conflict with Ukraine, ongoing pandemic restrictions, social unrest, and redistribution of global wealth. This situation could potentially result in a “lost decade,” resembling the stagnant and subdued economic conditions experienced in Japan in the 1990s or Latin America in the 1980s.