It is reported by ChinaDaily that the Shanghai pilot free trade zone (FTZ) started operating Sunday, launching a test bed for the Chinese leadership’s drive of deepening market-oriented reforms and boosting economic vitality.

“[FTZ] follows the tendency of global economic developments and reflects a more active strategy of opening-up,” Commerce Minister Gao Hucheng said at the ceremony of the zone’s launch.

Building the FTZ is considered as the boldest reform in decades in China.  As a result of the global economic crisis since 2008, China’s foreign trade has fallen sharply, which automatically leads to a great negative impact on its domestic economy. In the case that international economy is still unstable, China has to take an action to create a good environment for developing its economy. However, Shanghai FTZ, as the pioneer on the mainland, liberalizes regulations governing finance, investment and trade.

“Priority will be given to easier investment access and greater openness in trade in services. We have also adopted measures to facilitate foreign trade and promote a steady growth in import and export,” said premier Li Keqiang, the top proponent of FTZ.

Therefore, FTZ in Shanghai plays an important rule in stabilizing economic development and being a test bed for pushing forward reforms and opening the economy wider.

http://www.chinadaily.com.cn/business/2013-09/29/content_17002390.htm

http://www.reuters.com/article/2013/09/29/us-china-ftz-idUSBRE98S02K20130929

“McDonald’s is hiring more than 6,000 people on Thursday. The one-day hiring blitz is being held on the third annual National Hiring Day held by McDonald’s. Job seekers are being invited to apply in person at their local McDonald’s for the 6,000 crew and 100 manager positions. “

http://www.thespec.com/news-story/2550138-help-wanted-mcdonald-s-is-hiring-more-than-6-000-people-on-thursday/

I believe that McDonald was doing an ethical business decision, which was hiring 6,000 people, especially teens on national hiring day. Nowadays, McDonald becomes a significant resource of employment of teens. According to recent research, McDonald is one of Canada’s largest employers of youth, and some 65 per cent of its staff are between 15 and 24 years old. Noticing that Canada lost 55,000 jobs in March and the unemployment rate jumped to 7.2 per cent, I think that the stakeholders of McDonald, such as Canadian government  and unemployed people, enjoyed a great benefit from this event. As Ed Freeman suggests, managers should manage so that all stakeholders benefit. McDonald not only has helped Canadian government somehow to cut high unemployment rate, but also has helped people to have a source of income to improve their living standard.

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