The nomenclature of the global economic arena is the saying that the world is fiat and that It comes In a full circle; but where corporate power has transcended barriers and territorial borders, Terrorism remains as the bane of existence. Terrorism is that plague that reeks in every corporate dominated land. It wasn’t just the twin WET towers plummeting at the darted vision of terror but It was the networked failure of man’s economic progress.
The global news of today is resplendent of the clatter of bullets, the tyranny of armed tanks and most Importantly, the breakthrough of man’s bestial brutality. Truncated calls, crashing stock markets, wary economists; the economic world witnessed the horror on 9/11 , 26/11 etc. Brokers lay crestfallen, investors chose survivals over super profits; above all, the business of man failed, The first question that can be gawked on Is how does the economy of the world suffer after the aftermath of a terrorist activity?
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In the advent of superior globalization, countries favor entry into the markets by relying on exporting goods and services, which leads to the feasibility of rapid and broad outlook of global markets; it will also reduce the heavy dependence on high remissive physical facilities, which can offer much understandability, flexibility for reacting to unforeseeable market changes and rapid adjustments. Foreign direct Investment or FED remains one of the key backstabbers for an aspiring global economy.
Major investments in major countries of the world stand on shaky ground when such events happen In the light of the economy. When It comes to global economics, transaction costs and economies of scale, Foreign Direct Investment is a priority among financial planners, but the risky affair of dwindling between what is to e Injected In the economy and what Is to be exported are deemed to be worrisome. Global Markets have the trend to reprimand failure more severely than rewarding success, which have made risk minimizing strategies a pathway for business promoters and planners.
The yester years before the first fatal blow of terrorism to the global business arena saw a stupendous growth of international ventures; but after the wrath experienced by the international markets; it took into concentrating of domestic affiliations and concentrations. This was evident by the fall of International monetary saving and faith. Money laundering has led to the modern day malaise of terrorism financing. Tightening money laundering laws in the united states still remain ineffective at the gawking reality of a global banking giant- HASH having fallen prey to such accusations.
Hash’s banking activities in Saudi Arabia, specifically activities pertaining to referencing banking with AY Rajah Bank were brought under the radar. An Investigation claimed that the Saudi bank had financed terrorist activities in purview of the September 11 investigations. In fact, it is now infamously known as the- “Early Financial benefactor of the al- Qaeda”. Although, there was a hiatus in the banking transactions of HASH and AY Ra]Hal bank; but both the banks have resumed their dealings. Two Bangladesh banks have been accused on similar grounds.
Tighter norms and stringent Basel laws could be the trump card but the Course structures pertaining to international business have witnessed a setback in lieu of worsening international ties; it is well evident by the declining education of international studies in the United States, as per the stats relating to enrollments in International Business Courses and Foreign language courses. During the past few ears, managers have moved from the focus of proactive exploration concerning international opportunities in the global arena to a rather defensive posture that emphasizes on the vulnerability of foreign operations and global threats.
The September 11 attack alone caused around 40 billion of insurance losses in USA. There was an liquidity need addressed by the federal reserve along with the delay of major global stock markets like NYSE, FETES etc. The nightmares of the Ells (Foreign institutional Investors has Just begun with the sharp shoot ups of the gold and other commodities prices. As the dollar recovered, it rather showed how the economy could have a domino effect in Just a moment of a terror attack.
Although stocks recovered from the short bearish phase of the 26/11 attack in Iambi; it can’t offer a solution for the momentary involuntary losses in the global economy. The worst part is that how can a manager appropriate against such costs? The cost of human labor, wealth and resources? It is not Just the infrastructure being marred or the sabbatical day being a black day but it is the vulnerability of corporate giants in front of the tryst with terrorism. The sots born for provisioning against such losses cannot be anticipated.
They can seep through any advent of the business; whether it’s the hijacked plane or the bakery which gets bombarded; the vivid imagination of terror cripples the masculinity of business. The real question that looms on every single business maker is that who is supposed to bear this impossible to inappropriate cost? The government or the various international bodies? Yes, there is indeed something scarier than the supreme crisis, and it is the supreme crisis of human empathy and brotherhood. What might seem as the biggest looming threat to the business of the world can actually be a way to fight this common malaise forever.
It is the world cooperation of various international bodies and government bodies including multinational corporations to bring an end to this plaguing condition. In the face of such a terror; the rescue can only be the pooled efforts of every individual who dreams of international cooperation and benefit. Rather than basking on the indifference curve, it might be the time of our corporate lives to pull our socks even higher; so that each individual with its own competence forms the army of seamless unity and strength.