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<channel>
	<title>The Economy &#187; Economy</title>
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	<description>All About  &#124; Online Auto Insurance Quote &#124; marketing  &#124; economy &#124; osoeco.com</description>
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			<item>
		<title>China Joined The World Trade Organization</title>
		<link>http://osoeco.com/2010/02/06/china-joined-the-world-trade-organization/</link>
		<comments>http://osoeco.com/2010/02/06/china-joined-the-world-trade-organization/#comments</comments>
		<pubDate>Sat, 06 Feb 2010 14:31:26 +0000</pubDate>
		<dc:creator>Economy</dc:creator>
				<category><![CDATA[Political]]></category>
		<category><![CDATA[business]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Joined]]></category>
		<category><![CDATA[Market]]></category>
		<category><![CDATA[Organization]]></category>
		<category><![CDATA[Trade]]></category>
		<category><![CDATA[World]]></category>

		<guid isPermaLink="false">http://osoeco.com/?p=74</guid>
		<description><![CDATA[By taking advantage of technology and the Internet, China has moved from being a third-world country to growing faster than any other modern  economy. In 2001, China joined the World Trade Organization (WTO) — a significant event because it signaled that China was willing to acknowledge and follow global rules of trade.
So, how did China [...]]]></description>
			<content:encoded><![CDATA[<p class="first-child "  style="text-align: justify;" ><span title="B"  class="cap" ><span>B</span></span>y taking advantage of technology and the Internet, China has moved from being a third-world country to growing faster than any other modern  economy. In 2001, China joined the World Trade Organization (WTO) — a significant event because it signaled that China was willing to acknowledge and follow global rules of trade.</p>
<p style="text-align: justify;" >So, how did China begin growing so fast? It opened the floodgates for offshoring moving manufacturing plants from their home sites (for example, Europe or the United States) and plopping them down, lock, stock, and barrel, in China. Why? Because in China, you can (for now at least) produce products using cheaper labor, lower taxes, lower healthcare costs, lower energy costs, and far-less restrictive environmental regulations. Because China is such an attractive place to offshore, countries are clamoring to jump on the bandwagon and offer similar incentives — countries such as Malaysia, Thailand, Brazil, and Mexico.</p>
<p style="text-align: justify;" >If you’re in business today, you have some important objectives: Figure out what you can outsource to China, what you can do in China via offshoring, and what you can buy from China in terms of low-cost goods and services. In a flat world, you can no longer afford to do business on your own, and you can’t ignore your neighbors.</p>

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		<title>The Marketplace and Empowerment of the Brunei Consumers</title>
		<link>http://osoeco.com/2010/02/01/the-marketplace-and-empowerment-of-the-brunei-consumers/</link>
		<comments>http://osoeco.com/2010/02/01/the-marketplace-and-empowerment-of-the-brunei-consumers/#comments</comments>
		<pubDate>Mon, 01 Feb 2010 22:57:12 +0000</pubDate>
		<dc:creator>Economy</dc:creator>
				<category><![CDATA[Market]]></category>
		<category><![CDATA[brunei]]></category>
		<category><![CDATA[consumers]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Empowerment]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Marketplace]]></category>

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		<description><![CDATA[Prior to the internal turmoil of 1999, not many promotional or advertising activities were seen in Brunei. The better-established companies, such as Brunei Shell Marketing, banks and financial institutions, insurance companies, and motor vehicle dealers carry out some form of advertising in the local newspapers, mostly focusing on informing the readers about their products or [...]]]></description>
			<content:encoded><![CDATA[<p class="first-child "  style="text-align: justify;" ><span title="P"  class="cap" ><span>P</span></span>rior to the internal turmoil of 1999, not many promotional or advertising activities were seen in Brunei. The better-established companies, such as Brunei Shell Marketing, banks and financial institutions, insurance companies, and motor vehicle dealers carry out some form of advertising in the local newspapers, mostly focusing on informing the readers about their products or services.</p>
<p style="text-align: justify;" >Local retailers or businesses do not place much emphasis on promoting their products or services which could include <span style="color: #0000ff;" ><strong><a href="http://www.midphase.com/server-hosting/" >server hosting</a></strong></span> services.. This is due to several factors, such as consumers’ impulsive buying behavior due to their insensitivity to prices; the small market size for which retailers consider marketing activities unnecessary; Brunei’s close social ties with Malaysia that make it easy to receive Malaysian television and radio broadcasts, newspapers, and magazines, and similarities in the two cultures that resulted in the thought that “whatever marketing activities are done in Malaysia will trickle over to the Brunei market”; and the fact that promotion and advertising are not priorities for businesses in Brunei, as these firms operate as importers or wholesalers in the country. More recently, there have been increasingly more sales promotion activities, still at a minimal level, by the local businesses following intense competition in the marketplace and empowerment of the Brunei consumers.</p>
<p style="text-align: justify;" >This form of marketing is increasingly popular in the Bruneian marketplace, reaching out to the two major age groups: the young adults and the thirty-five- to fifty-five-year-olds. These two groups have higher spending power in the population and are often approached by direct-sell personnel. Most firms engaged in direct marketing activities are those selling health supplements and related products, cosmetics and beauty products, and household appliances and equipment. The reason behind this increasingly important channel to reach the consumers is that almost all of the sellers are direct consumers of a particular brand or product, and the overhead costs involved in direct marketing activities are very low.</p>

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		<title>The Malay People Are Mostly Running Restaurants And Feature Only</title>
		<link>http://osoeco.com/2010/02/01/the-malay-people-are-mostly-running-restaurants-and-feature-only/</link>
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		<pubDate>Mon, 01 Feb 2010 07:07:28 +0000</pubDate>
		<dc:creator>Economy</dc:creator>
				<category><![CDATA[Market]]></category>
		<category><![CDATA[consumer goods]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[infrastructure]]></category>
		<category><![CDATA[Malay]]></category>
		<category><![CDATA[People]]></category>
		<category><![CDATA[Restaurants]]></category>

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		<description><![CDATA[Physical distribution of goods in the country is supported by the well-developed and extensive road infrastructure. Almost all areas in Brunei are accessible by the road system; hence, physical distribution does not hinder the delivery of goods to retailers. Conversely, the distribution channel in Brunei still takes the traditional form, where trading companies are normally [...]]]></description>
			<content:encoded><![CDATA[<p class="first-child "  style="text-align: justify;" ><span title="P"  class="cap" ><span>P</span></span>hysical distribution of goods in the country is supported by the well-developed and extensive road infrastructure. Almost all areas in Brunei are accessible by the road system; hence, physical distribution does not hinder the delivery of goods to retailers. Conversely, the distribution channel in Brunei still takes the traditional form, where trading companies are normally involved in direct importation of consumer goods or act as main distributors for particular brands. These companies are then responsible for delivery of the goods to retailers.</p>
<p style="text-align: justify;" >According to a recent study conducted by Douty, Michael, and Yong (2002), the tenancy distribution of shops in Brunei is of a multiethnic nature. The Malay people are mostly running restaurants and feature only as partners in the other business types, such as sportswear and equipment, where they form partnerships with Indians. They also partner with Singaporean and Malaysian Chinese people in businesses such as souvenirs, antiques, building materials, irrigation equipment, and outboard engines. Chinese people as a group are spread over all business types, although there seems to be an emphasis on businesses in car sales/service, textiles/watches, footwear/ bags, Chinese medicine, jewelry, tailoring, and electronic retailing. It was also observed that the Indian people run almost all the neighborhood provisional stores (Kedai Runchit) in the country.</p>

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		<title>Model for Political, Economic, and Social Development for The Country</title>
		<link>http://osoeco.com/2010/01/18/model-for-political-economic-and-social-development-for-the-country/</link>
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		<pubDate>Mon, 18 Jan 2010 11:32:51 +0000</pubDate>
		<dc:creator>Economy</dc:creator>
				<category><![CDATA[Market]]></category>
		<category><![CDATA[Political]]></category>
		<category><![CDATA[Development]]></category>
		<category><![CDATA[Economic]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Model]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[the Country]]></category>

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		<description><![CDATA[The philosophy of the MIB concept has somewhat become a model for political, economic, and social development for the country, as all projects and developments are planned and implemented according to Islamic teachings. In some respects, the ideology and visible symbolism of the state seem to reflect a balancing act between Western and Islamic pressure [...]]]></description>
			<content:encoded><![CDATA[<p class="first-child "  style="text-align: justify;" ><span title="T"  class="cap" ><span>T</span></span>he philosophy of the MIB concept has somewhat become a model for political, economic, and social development for the country, as all projects and developments are planned and implemented according to Islamic teachings. In some respects, the ideology and visible symbolism of the state seem to reflect a balancing act between Western and Islamic pressure (Cleary and Wong 1994).</p>
<p style="text-align: justify;" >The state aims to preserve the customs and traditions of the Malay culture, emphasize teachings of the Islamic faith, and administer the monarchical system. Strict Islamic teachings have been incorporated into educational and social policies around the country. This does not mean that the MIB philosophy stifles the practice of other religions; it aims to act as a vehicle to develop the country with guidance from Islamic teachings, and to enhance racial harmony and mutual respect among the peoples.</p>
<p style="text-align: justify;" >Brunei’s legal system, similar to the legal systems of Singapore and Malaysia, is based primarily on English Common Law. The English judiciary system with an independent judiciary was retained after Brunei gained independence in 1984. The Ministry of Law is responsible for the legal system in Brunei, while the attorney general is the chief advisor on constitutional and legal matters (Borneo Bulletin 2000). The Supreme Court, the Intermediate Court, and the Subordinate Court hold the judiciary power in the country. The Supreme Court consists of the High Court and the Court of Appeal, and the Subordinate Courts comprise the Magistrate Courts. Syariah (Islamic) Courts exist side by side with the Supreme Court and deal with Islamic laws. In 1991, Intermediate Courts were established with civil and criminal jurisdiction, but these courts have no jurisdiction over capital cases.</p>

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		<title>Full Political Independence from The United Kingdom</title>
		<link>http://osoeco.com/2010/01/09/full-political-independence-from-the-united-kingdom/</link>
		<comments>http://osoeco.com/2010/01/09/full-political-independence-from-the-united-kingdom/#comments</comments>
		<pubDate>Sat, 09 Jan 2010 11:21:00 +0000</pubDate>
		<dc:creator>Economy</dc:creator>
				<category><![CDATA[Political]]></category>
		<category><![CDATA[brunei]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Full]]></category>
		<category><![CDATA[Independence]]></category>
		<category><![CDATA[United Kingdom]]></category>

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		<description><![CDATA[Beginning as a Hindu-Buddhist city-state in 414 C.E., Brunei later embraced Islam. In the fifteenth and sixteenth centuries, its influence extended throughout Borneo and the Philippines. From the last quarter of the nineteenth century, Brunei steadily lost all its territories due to Spanish, British, Portuguese, and Dutch interventions. Then in 1888, Brunei was made a [...]]]></description>
			<content:encoded><![CDATA[<p class="first-child "  style="text-align: justify;" ><span title="B"  class="cap" ><span>B</span></span>eginning as a Hindu-Buddhist city-state in 414 C.E., Brunei later embraced Islam. In the fifteenth and sixteenth centuries, its influence extended throughout Borneo and the Philippines. From the last quarter of the nineteenth century, Brunei steadily lost all its territories due to Spanish, British, Portuguese, and Dutch interventions. Then in 1888, Brunei was made a British protectorate.</p>
<p style="text-align: justify;" >From 1906 to 1959, a British Resident held administrative power, while the Brunei Sultan’s jurisdiction was restricted to Malay traditions and religion. In 1959, Brunei’s first written constitution was presented, bestowing full executive authority on the Sultan as the Head of State. The Sultan is assisted and advised by five councils; the Religious Council, the Privy Council, the Council of Ministers (the Cabinet), the Legislative Council, and the Council of Succession. In 1984, Brunei gained full political independence from the United Kingdom and has since maintained a cabinet style of government. The Sultan, also the prime minister as well as finance and defense minister, holds real political power, as the system of government revolves around him. Appointments of cabinet ministers are made at the Sultan’s discretion, as the 1959 constitution states that the sultan exercises power of appointment to the councils. Therein, Brunei is an independent sovereign sultanate that is governed on the basis of a written constitution.</p>

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		<title>The Economy went into a Recession</title>
		<link>http://osoeco.com/2009/11/18/the-economy-went-into-a-recession/</link>
		<comments>http://osoeco.com/2009/11/18/the-economy-went-into-a-recession/#comments</comments>
		<pubDate>Wed, 18 Nov 2009 11:34:19 +0000</pubDate>
		<dc:creator>Economy</dc:creator>
				<category><![CDATA[Market]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[into]]></category>
		<category><![CDATA[Recession]]></category>
		<category><![CDATA[went]]></category>

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		<description><![CDATA[To understand marketing and consumer behavior in Australia, it is important to briefly consider the nation’s historical development. European settlement commenced in 1788 in the form of a British penal colony. Transportation of convicts, many of whom were Irish, continued until 1840 (Hancock 1995). These convicts could gain a “ticket of leave” after serving their [...]]]></description>
			<content:encoded><![CDATA[<p class="first-child "  style="text-align: justify;" ><span title="T"  class="cap" ><span>T</span></span>o understand marketing and consumer behavior in Australia, it is important to briefly consider the nation’s historical development. European settlement commenced in 1788 in the form of a British penal colony. Transportation of convicts, many of whom were Irish, continued until 1840 (Hancock 1995). These convicts could gain a “ticket of leave” after serving their sentences in Australia. Thus, they formed the basis of the working class.</p>
<p style="text-align: justify;" >This contrasts with the majority of free white settlers who were skilled Protestant artisans from England and Scotland who came to this new country in search of a better life. As a result, two distinct classes were emerging by the late 1800s—the Protestant urban upper class and the highly unionized and predominately Catholic labor force. There have been tensions between these groups for much of Australia’s history,and many cultural values of “a fair go,” egalitarianism, and distrust of authority (the tall poppy syndrome) can be traced back to conflicts between these two groups.</p>
<p style="text-align: justify;" >
<div id="_mcePaste"  style="overflow: hidden; position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; text-align: justify;" >To understand marketing and consumer behavior in Australia, it is important to briefly consider<br/>
the nation’s historical development. European settlement commenced in 1788 in the form of<br/>
a British penal colony. Transportation of convicts, many of whom were Irish, continued until<br/>
1840 (Hancock 1995). These convicts could gain a “ticket of leave” after serving their sentences<br/>
in Australia. Thus, they formed the basis of the working class. This contrasts with the majority of<br/>
free white settlers who were skilled Protestant artisans from England and Scotland who came to<br/>
this new country in search of a better life. As a result, two distinct classes were emerging by the<br/>
late 1800s—the Protestant urban upper class and the highly unionized and predominately Catholic<br/>
labor force. There have been tensions between these groups for much of Australia’s history,<br/>
and many cultural values of “a fair go,” egalitarianism, and distrust of authority (the tall poppy<br/>
syndrome) can be traced back to conflicts between these two groups.<br/>
The great depression of the 1890s brought about high unemployment and lowered living standards.<br/>
It was during this difficult time that a basic minimum wage was established to protect the<br/>
workers. National identity was a key issue, and the Commonwealth of Australia was formally<br/>
established in 1901, bringing together the individual colonies into a single federation (Hancock<br/>
1995). Soon after this, the “White Australia” policy was introduced. This meant that settlement<br/>
was restricted to Europeans. This white migration policy continued until the 1960s, when immigrants<br/>
from the Middle East as well as other European countries were allowed entry. Asian migration<br/>
commenced in the 1970s, and this has continued until today, making Australia a truly<br/>
multicultural society (Hancock 1995). In the 1960s and 1970s, thousands migrated to Australia to<br/>
pursue their dreams, culminating, for many, in the “time of excess” of the early 1980s, when the<br/>
focus was on spending. The economy went into a recession in the late 1980s, and this continued<br/>
into the early 1990s. The consumer emphasis of the late 1990s was on maintaining personal<br/>
relationships, obtaining value for money, and getting back to basics, including refocusing on the<br/>
family and home (McColl-Kennedy 1998). At the turn of the twenty-first century, Australia experienced<br/>
more positive growth, but this was tempered with a greater sense of uncertainty, with the<br/>
tragic events of Bali in October 2002. Despite a hardy, historical pioneering rough-and-ready<br/>
bush image, modern Australia is an urban community with a social structure centered in the cities,<br/>
particularly on the east coast.</div>

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