Latin America China and Europe has been taken

Directions

You will be divided into teams and each team member will be presenting notes on a world event that occurred in the prior week. Every team member will be in charge of covering events from one major region in the world (i.e. East Asia, Europe, Mexico/Latin America, North Africa/Middle East, South Asia/Southeast Asia/Australia, and Sub-Saharan Africa). Each team member must choose a different region. The events can be a national/regional policy change or a corporate event, or other events with international business implications. Each team member is responsible for covering one particular region and relating to one previously discussed course topic. You will give a brief summary of an event that occurred somewhere in the region, mention how this event affects international business and how it relates to a previously covered international business topic.

Directions:

1. You will select one major region in the world (i.e. East Asia, Europe, Mexico/Latin America, North Africa/Middle East, South Asia/Southeast Asia/Australia, and Sub-Saharan Africa). Each team member must choose a different region.

• • Find a credible source of article covering a current event in your selected region. Searching for multiple sources of the same event is strongly encouraged. Sometimes you might get insights from opposing views on the same event. (You must include a LINK to your chosen event article)
  • Summarize the content of the article(s) by briefing who, what, when, where, and how the event occurs.
  • Tell us what your major take-away from the event in terms of how the event impacts international business. Explain WHY this event is important to you, us, and/or the rest of the world.
  • Name a course topic that you learned in previous weeks and discuss this previously learned concept has broadened your understanding of the region and event.

1. Initial Post: Share your notes in a post.
2. Response Posts: Respond to at least one teammate stating what you learned about the region as a result of the posted notes and offering your prediction in terms of what might happen as the result of the current event.

Student to respond to

Module 8: Taxation

Area: Europe

Article: European Parliament backs U.S. global minimum tax proposal

Summarize the content of the article(s) by briefing which, what, when, where, and how the event occurs.

The area that I have chosen was Europe. However, it is affecting all the countries around the world. President Joe Biden’s economic advisor repeatedly defended the administration’s push for a “global minimum tax” on corporations citing a need for everyone to pay their “fair share.” (Hummel, 2021) . It is claimed that outdated international tax rules need to be overhauled, which includes the minimum effective corporate tax rate. (Malay Mail, 2021)This proposal is formed to stop a “race to the bottom,” which “refers to a competitive situation where a company, state, or nation attempts to undercut the competition’s prices by sacrificing quality standards or worker safety (often defying regulation), or reducing labor costs” (Chen & Kelly, 2020)

Tell us what your major take-away from the event in terms of how the event impacts international business. Please explain WHY this event is essential to you, us, and/or the rest of the world.

The primary take-away was that this Tax hike is supposed to help the U.S., where Joe Biden claims that everybody should pay their fair share. I am still not sure where it stands on this proposal because, in addition to this proposal, President Biden is also thinking about raising the corporate tax rate to 28% from 21% to help finance his American Jobs Plan. How would this affect the American Corporation that gives us jobs? The event is essential to me and the rest of the world because it affects us the corporations will act.

Name a course topic that you learned in previous weeks and discuss this previously known concept that has broadened your understanding of the region and event.

The course topic that I have chosen was Taxation, an external financial force that affects decisions international managers make because it affects revenues. (Geringer, 2015, p. 409) Reading more about economic exposure and Taxation, I know that this affects everyone profoundly, and it is sometimes troublesome because it can become unpredictable.

References

Chen, J., & Kelly, R. C. (2020, 12 30). Race to the Bottom. Retrieved from Investopedia: https://www.investopedia.com/terms/r/race-bottom.a…

Geringer, M. (2015). International Business. Retrieved from MBS Direct: https://mbsdirect.vitalsource.com/#/books/97812593…

Hummel, T. (2021, 05 03). Biden’s economic advisor says ‘global minimum corporation tax’ is needed. Retrieved from BPR Business & Politics: https://www.bizpacreview.com/2021/05/03/bidens-eco…

Malay Mail. (2021, 04 29). European Parliament backs U.S. global minimum tax proposal. Retrieved from Malay Mail: https://www.malaymail.com/news/money/2021/04/29/eu…

Reuters. (2021, 04 27). German, French ministers, back the U.S. on 21% minimum corporate tax rate -Zeit. Retrieved from Reuters: https://www.reuters.com/article/us-germany-france-…