Religions influence on American Democracy
and it's effect on Globalization
A person's religious beliefs greatly influence his or her ethical behaviors. According to reports, religion is one of the strongest motivators for individuals to exhibit ethical behaviors in all areas of their lives. Modern thought tends to see religion as one sphere of society, alongside politics, economics, science, family, morality and so on. There is much written about business and organizational ethics but there is little written about the behaviors that people display to demonstrate they are ethical humans. It is almost as if an organization is perceived as an entity capable of doing ...view middle of the document...
In Argentina, auto sales are down so much -- 40 percent, compared with this time a year ago -- that Fiat has been operating its plants there just one week a month.
And the annual staging of "Aida" at the Great Pyramids at Giza, a high point of Egypt's tourist season, has been canceled because of security concerns.
What already was a global economic slowdown has been gathering momentum since Sept. 11, dashing hopes for a quick U.S. economic turnaround and raising the specter of worldwide recession. J.P. Morgan Chase & Co. now forecasts that global economic growth will barely exceed 1 percent this year and the next, which would be the worst performance in 20 years.
Taken as a group, the major industrialized economies of the world -- the United States, Canada, Japan and Europe -- are growing weakly or shrinking, while the once red-hot economies of Asia and Latin America have fizzled. Even worse off are many Caribbean and African nations, where the tourist drought and the collapse of commodity prices have hammered already fragile economies.
The only nations that appear to be weathering the global downturn -- India, China, Russia and some in Eastern Europe -- are those that have resisted full integration into the world economy, retaining vestiges of socialism and protected markets. But almost everywhere else, industrial production is falling, unemployment is rising, profits and stock prices are depressed. The volume of cross-border trade is shrinking while cross-border investment has dropped by half. Governments, facing declining tax revenues, are adding to their debts, cutting payrolls and social benefits, or both. Consumers everywhere are hunkering down.
The speed and intensity with which the downturn has spread from one country to another has surprised economists, policymakers and corporate executives and revealed the extent to which national economies have become inextricably linked.
As a result of the ebb and flow of investment across borders, Wall Street's woes are shared by Saudi princes and Swiss insurance companies, while the financial problems of Japanese banks translate directly into unemployment in South Korea and Thailand. A drop in sales anywhere can seriously impact corporate profits half a world away.
The globalization of supply chains -- producing parts in one place for assembly somewhere else -- has turned areas of Mexico and Canada into economic suburbs of Detroit; the economies of Ireland, Finland and much of East Asia hang on the fortunes of the U.S. technology sector. It's no longer possible to talk about overcapacity in the German machine tool sector or overproduction of Brazilian steel. Such supply excesses afflict global, not national, industries, triggering simultaneous price cuts in all markets.
Global distribution and marketing have also helped link national economies so they tend to turn up and down together. It's not just Wal-Mart, Coca-Cola and McDonald's that...