According to Nicole Poon’s blog post, the price of chocolate has drastically risen due to the increased price of raw material. Soon, chocolate will become a luxury item, so much so that not everyone will be able to afford it. Reports show that chocolate prices may possibly increase to a horrific price of $113 per kilogram.  The prices of raw materials, once cheap and readily available resources for chocolate companies,  are projected to increase significantly. According to research done by Mintec, the price of raw material to produce 100 grammilk chocolate bars has increased 28 percent this year. The price of cocoa butter- a major ingredient and component of chocolate bars- rose as much as 63%.  Not only is the price of cocoa butter increasing, but the price of milk powder is also rising by 20%. From the statistics, the cost for a company to produce one chocolate bar is going much higher than previous times. Consequently, consumers will have to suffer from the increased prices of material and pay more for each chocolate they consume. From a business perspective, the consumption of chocolate by the world’s biggest of chocolate aficionados in Europe will most likely drop if current price trends are not reversed. By then, the sweet taste of chocolate may soon become a distant dream for most common folks.

Sources:

http://www.nbcnews.com/business/warning-cocoa-shortage-rising-prices-threaten-chocolate-bars-8C11418435

https://blogs.ubc.ca/nicolejoellepoon/2013/10/08/soaring-chocolate-prices/

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10362944/Price-of-chocolate-to-triple.html

Statistics and studies have shown that China’s economy has grown at a phenomenal rate of 10% per year in the last three decades.  Once known as a country that was ruled by rigid authoritarianism of early communist regime, China has now grown into one of the world’s fastest-growing economies. Not only is China considered to be one of the world’s top exporters, but it is also attracting record amounts of foreign investment. Despite the challenges and harsh effects of the financial crisis in 2009, China’s economy has rebounded relatively unscathed.

It may seem to have a positive reputation in the economic sector, but a huge disparity between urban China and the rural region has significantly widened the cohesion of the society. The urban portion of China showcases the glamourous, flashy side of capitalism and materialism, while on the other side the rural areas paint a grim image of environmental degradation, some of the world’s worst pollution, and the growing rate of HIV infections. Many migrant workers arrive in already congested cities to seek better fortune, but they often face grim realities of exploitation, high urban living costs, and discrimination from employers and landlords. China’s rise in its economic standing comes with hefty costs, and it is up to the government to solve these important issues at once.

Sources:

http://www.cfr.org/china/rise-china-interests-us/p13455

http://www.wilsoncenter.org/event/chinas-rise-to-global-economic-power-what-does-it-mean-for-the-united-states

In the past few years, China has slowly grown from its humble beginnings to become an economic powerhouse of the world. China has in fact become the world’s second largest economy, superseding the Gross National Product of Japan and with the largest foreign currency reserve of more than $1.4 trillion, some of which is held in gold.  Gold prices may have dropped drastically earlier this year, but in the eyes of Chinese consumers, this prized metal still has an irreplaceable value. Statistics have shown that China has leaped over India to become the world’s top gold consumers.  With a dazzling amount of 798 tonnes of gold purchased, China has outcompeted India and now prides itself as the world’s top gold holder. Gold is among the top financial assets, alongside stocks and real estate property, as favourites for Chinese investors. China, what is now considered one of the most powerful countries despite its status as a developing nation, has showed strong signs that they are capable of becoming the world’s largest economy in decades to come.

 Sources:

http://money.cnn.com/2013/11/15/news/economy/china-gold/index.html?hpt=ibu_c2

 http://www.business-standard.com/article/international/china-becomes-world-s-largest-gold-consumer-113111700365_1.html

On October 18th 2013, Prime Minister Stephen Harper revealed the new Canada-European Union trade agreement that would possibly turn around Canada’s economy. “The Comprehensive Economic and Trade Agreement,” also known as CETA, is an immense improvement compared to the North American Free Trade Agreement and is tailored to eliminate thousands of tariffs, encourages foreign investment, and promotes the movement of labour across the Atlantic.

 When the trade agreement comes into effect, 98 percent of EU and Canadian tariffs will be immediately eliminated. If Canada strikes this deal, not only will the trade agreement have far reaching impacts that will affect almost every segment of the Canadian economy but it would also help millions of workers and consumers. The trade agreement will be beneficial to Canada’s economy and the overall benefits will hopefully bring more investment to Canada and give consumers more choices.

Sources:

http://www.cbc.ca/news/politics/5-ways-the-canada-eu-trade-deal-will-impact-canadians-1.2125510

http://www.theglobeandmail.com/news/politics/eu-harper/article14924915/

Natural gas is a form of fossil fuel that is located in deep underground rocks and is a source of energy formed from layers of buried plants.  The energy obtained from the sun is absorbed by the plants and stored in the form of carbon. News reports from the government of British Columbia have shown that the province’s natural gas reserves are double the previous approximations. It is estimated that BC has 2,933 trillion cubic feet worth of natural gas, which is enough to support both development and exportation operations for the next 150 years. As a result, British Columbia will be able to take advantage of the natural resources to improve its economic and industrial state. In the business world, however, the possession of natural gas can have both positive and negative effects. According to statistics, Encana Corp “is cutting 800 jobs” in order to “[refocus] its resources”. On the other hand, reports say that the natural gas possession would add as much as $1 trillion to the province’s GDP by 2046 and result in 100,000 new jobs.

Sources:

http://bc.ctvnews.ca/report-finds-b-c-s-natural-gas-reserves-double-previous-estimates-clark-1.1531674

http://www.theprovince.com/natural+reserves+more+than+twice+initial+estimate+report+says/9133040/story.html

On November 8^th 2013, Twitter officially went on the New York Stock Exchange and raised a capital of $24 billion. The company’s share price of $26 rose immediately to $45 due to the limited amount of shares available as the stock market opened. As a result, the co-founders of Twitter Ev Williams and Jack Dorsey quickly became billionaires with shares valued at more than $2.69 billion. Twitter has slowly grown and now claims to have more than 200 million users worldwide and has 53 million active users in the US. It is quite an amazement considering that Twitter has never posted a profit in the past. Investors put in their money purely due to future speculations, which may or may not be realized in actual returns. The stock mark is in a bubble over Twitter but hopefully the party doesn’t end too soon for Twitter.

Sources:

http://www.theguardian.com/technology/2013/nov/07/twitter-share-price-ipo-stock-market

Speed is an important factor when it comes to drive-thru services. Studies show that drive thru patrons spend around 189 seconds at a McDonald’s window while at Taco Bell, patrons can get through in 158 second and in 134 seconds at Wendy’s. In order to speed up the process, McDonald’s Corp is planning to add in a third window called the Fast Forward Drive-Thru.

The addition of the third window will allow McDonald’s to better serve their customers and speed up the waiting process. McDonald is trying this new implementation in the hopes of satisfying displeased customers who have taken their frustration out on Twitter. Many customers have complained about the slow service that they received. In order to improve the perceived slow service, the third window might just be the best solution. From a business perspective, consumers demand services that provide convenience and speed, so McDonald’s should update its strategy to reflect the growing demand by speeding up the drive-thru experience through an additional window. Not only would such move satisfy the customers, but it will also match the waiting time experienced at other fast-food chains.

Sources:

http://www.chicagotribune.com/business/breaking/sns-wp-blm-news-bc-mcdonalds14-20131114,0,3889532.story

http://www.ctvnews.ca/business/mcdonald-s-adding-3rd-window-to-speed-up-drive-thru-service-1.1544016

http://www.entrepreneur.com/article/229959#