Today in Global Small Business: Tesla Exports Its 1 Millionth Vehicle From China

©iStock/Robert Way

What's affecting me, my clients, my colleagues and other global small business owners:

• Via X, Tesla has confirmed that it recently exported its 1 millionth car from Tesla Gigafactory, Shanghai. That’s a massive number of vehicles from a factory that only opened in December 2019.
• How three ecommerce marketplace sellers accelerate growth.
• Quote of the week: “The only person you are destined to become is the person you decide to be." – Ralph Waldo Emerson
• Bridge the AI gap – wegginar® recording.
• Meta announces an AI translation tool that could change the way you watch Instagram and Facebook Reels forever.
• Visa, Mastercard and big banks bet on global payments tech.

Your Voice Is Your Power: VOTE

©2024 Laurel J. Delaney.  All rights reserved.

"Your vote is your voice, and your voice is your power. Don't let anyone take away your power. Now is the time to stand up. Now is the time to speak out. And now is the time to VOTE." – Kamala Harris

AccuRadio: Broadway Tunes

©iStock/RightFramePhotoVideo

Check out Broadway show tunes from the 1950s to the present at AccuRadio. The selections feature your favorite Broadway songs by legendary performers and today’s stars.  Chill.  For the world to enjoy. Many of the songs are curated by Bob Marovich (e.g., 2020s Broadway).

Code name: Strawberry

©iStock/aerogondo

OpenAI announced a new advance from GPT-4 that signals a shift in approach—a model that can “reason” logically through many difficult problems and is significantly smarter than existing AI without a major scale-up.

The new model, dubbed OpenAI o1, can solve problems that stump existing AI models, including OpenAI’s most powerful existing model, GPT-4o. Rather than summon up an answer in one step, as a large language model normally does, it reasons through the problem, effectively thinking out loud as a person might, before arriving at the right result. 

Code name:  Strawberry.

Empowering NY's Small Businesses to Compete in the Global Marketplace

©iStock/Pharrel Williams

WOW, lots happening in New York for small businesses interested in competing in the global marketplace!  The Empire State Development (ESD) recently announced an expansion of Global NY's international presence, growing from 9 to 15 markets, with OCO Global hired to manage these offices.

This expansion includes new representation in Australia, Japan, South Korea, Singapore, the United Arab Emirates, and Taiwan. Beginning October 1, 2024, companies will be able to submit Export Marketing Assistance Service (EMAS) applications to any Global NY location. Information about the EMAS can be found here. Global NY was also awarded $900,000 in federal funding for STEP Round 12 to help connect New York businesses to exporting opportunities abroad. 

Empire State Development President, CEO and Commissioner Hope Knight said, “By expanding Global NY's international offices and securing federal STEP funding, we are reinforcing our commitment to empower New York's small businesses to compete in the global marketplace into key markets. These strategic initiatives provide our businesses with resources and opportunities to export their products and services worldwide, fostering growth and job creation across the state.”

Now this is good news!  Go New Yorkers – all the small businesses who struggle to go global can now get the assistance they need!

Stay Ahead of the AI Curve with Shari Levitin at 10/2 wegginar®

©2024 Women Entrepreneurs Grow Global®.  All rights reserved.

Want to stay ahead of the AI curve?  This is your chance! On Wednesday, October 2nd, Shari Levitin, founder of the Shari Levitin Group will be leading a FREE LIVE wegginar® with Women Entrepreneurs Grow Global® on the hottest topic in sales today:  "How to Bridge the AI Gap—From Artificial to Authentic."

As Shari says, "Let’s be real—AI is shaking up the sales world. But if you’re only relying on automation, you’re leaving money on the table. Without the human touch, you’ll just blend in with the noise. In this session, I’ll show you how to master AI while keeping the human connection that truly drives results."

What will you learn?

🔥 Cut through the noise and stand out in an AI-driven world

💡 Strengthen human connections while leveraging the power of tech

🎯 Uncover your buyers' deepest needs and offer solutions that resonate

💰 Make an undeniable ROI case your buyers can't refuse

📖 Craft stories that stick, long after your pitch

When?

Wednesday, October 2, 2024 at 11:00 a.m. CT (12:00 p.m. ET) – LIVE

👉 Register Now and discover how to dominate with AI and authentic connection. Don’t miss it!

Today in Global Small Business: The Backstory on Globalization

©iStock/Suphanat Khumsap

What's affecting me, my clients, my colleagues and other global small business owners:

• The world has undergone a transformation in the structure of the global economy – known as "globalization."  This commentary examines the why and how behind it all.
• The global economy's 200-year growth spurt – and what comes next.
• Quote of the week: “Globalization for a startup is exciting; you have to learn so fast about the different cultures of the world." – Adam Neumann
• Marriott International is expanding its global footprint for future growth.
• Three key aspects to get in line when expanding globally.
• Mews secures $100 million to fuel global expansion and accelerate strategic acquisitions of hotel technology

Candy Is Childhood

©2024 Laurel J. Delaney.  All rights reserved.

"Candy is childhood, the best and bright moments you wish could have lasted forever." – Dylan Lauren

Walmart Optimizes Retail Strategies With International Scale

©iStock/Nuthawut Somsuk

Since launching Walmart Luminate, a comprehensive data analytics product suite, Walmart has successfully aided in optimizing retail strategies – from product assortment to product development – leveling the playing field for suppliers of all sizes.

Today, 90% of Walmart's largest suppliers have signed up for a Walmart Luminate Charter subscription, and some of their smaller suppliers account for approximately 50% of our total subscriptions.

What began as a small but dedicated team has evolved into a thriving commercial business with international scale and even more opportunities ahead to create lasting value for their customers.

Every Day Is Gift

"Every birthday is a gift. Every day is a gift." —Aretha Franklin 

Are You a Remarkably Good Leader?

©iStock/Drazen Zigic

Are you a remarkably good leader or someone who just nitpicks and thinks that is leadership?

Leadership comes in many shapes and sizes, its qualities are subtle. While we think we know many of the leadership qualities that make great leaders, and even practice them, here are twelve simple signs that show you're a remarkably good leader.

Quest for International Expansion by Asian-Pacific Consumer Product Companies

©iStock/ake1150sb

For Asia-Pacific CPGs, international growth is more critical than ever due to maturing domestic markets. Fortunately, the growing popularity of Asian culture enhances their chances of success.

As growth in domestic markets slows, Asian companies must expand internationally to keep thriving.  They are also wrestling with numerous strategic questions, including:

1. Which markets should we enter first?
2. Which consumer segments should we target?
3. Should we act as a category disruptor, or should we “play by the rules” of the foreign market?
4. Should we drive growth organically, or inorganically through M&A?

Bain & Company offers several approaches to success drawing from extensive experience working with leading Asia-Pacific-headquartered FMCGs on international expansion.

Today in Global Small Business: European Union (EU) Small Business Export Report (eBay)

©iStock/AlxeyPnferov

What's affecting me, my clients, my colleagues and other global small business owners:

• eBay publishes a new report on European Union (EU) small business exporting.  Direct access to report can be found here.
• How weather and other factors are impacting fruit exports from Peru.
• Quote of the week: “When I returned to the United States after three years of World War II service, my total assets consisted of one wife, one small daughter, $276 in the bank, and an idea. The idea was for an export business to supply items badly needed everywhere in Europe." – E. Joseph Cossman
• Every G20 economy's top export market.
• Amid the global green goods boom, India is yet to jump on the bandwagon.
• Innovation linked to international exports for both rural and urban firms.

Be Silently Drawn by the Strange Pull of What You Really Love

©2024 Laurel J. Delaney.  All rights reserved.

“Let yourself be silently drawn by the strange pull of what you really love. It will not lead you astray.” – Rumi

[Super moon photographed by Laurel Delaney (self-portrait) on 9/19/24 in Rogers Park, Chicago, Illinois.]

Embrace Your Foreignness to Yield Unforeseen Competitive Advantages

©iStock/klauspeters

Expanding into international markets presents numerous challenges for companies, particularly due to their “foreignness.”

Many global companies tend to overcome those challenges by minimizing their foreignness and assimilating into the local environments. However, maintaining and embracing foreignness can yield unforeseen advantages. 

Whether capitalizing on outsider status to tap into local labor markets, establishing potent associations to build credibility, or forging strategic partnerships to foster mutual international growth, your foreignness can indeed become your competitive edge. By embracing a nuanced approach that acknowledges and leverages foreignness, companies can not only navigate but thrive in unfamiliar territories.

The complete article by Lele Sang at Harvard Business Review can be found here.

Getting Global Expansion Right

©2024 Apress.  All rights reserved.

When is the right time to go global?  It's hard to determine.  

But what's easy is to expand too quickly or into the wrong markets. Nearly every company begins life in a single market, and determining when and how to expand internationally is a challenge every successful company must eventually address.

According to Forbes, the key to global success is simple in theory and complex in execution—to go global, you have to be local. 

Here are three keys to getting this right.  

Oh, one more thing.  If you haven't read this book (pictured – and a book I [Laurel Delaney] authored), do it now, because it provides international expansion strategies and tips that help individuals go from thinking about going global to creating, running and maintaining a successful global business.

Number of SMEs Worldwide

©iStock/everythingpossible

There were estimated to be approximately 358 million  small and medium-sized enterprises (SMEs) worldwide in 2023. The number of SMEs dropped slightly in 2020 during the COVID-19 pandemic, but increased since.

Other statistics on the topic:

• Biggest companies in the world by market value.
• Largest companies in the world based on revenues.
• Top companies in the world by revenue 2023.
• Number of Amazon employees 2007-2023.

Access all here.

How to Build a Successful Global Business Around Sustainable Fashion Principles (wegginar® 9/18/24)

©2024 Women Entrepreneurs Grow Global®.  All rights reserved.

Here's what you can expect to learn from the upcoming wegginar®, 9/18/24, with presenter Alina Lundin, CEO and Founder of Miharo, on "How to Build a Successful Global Business Around Sustainable Fashion Principles:"

• Understanding Sustainable Fashion Principles
• Building a Sustainable Supply Chain
• Navigating Challenges in Ethical Manufacturing
• Marketing and Selling Sustainable Products Globally
• Impact of Sustainable Practices on Brand Reputation and Growth

About Alina

Alina Lundin serves as the CEO and founder of Miharo, a sustainable premium swimwear brand established in 2022. Holding a Commercial Business Diploma, she brings a wealth of strategic business acumen to the company. Her expertise in business organization and project management, coupled with her start-up experience, has been vital to her ventures.

Nui Swim, Alina’s first adventure as an entrepreneur, was created from her ambition to encourage individuals to celebrate their unique identities, offering products that quickly found a market niche.

Now, Alina’s proven insights, passion for fashion, and dedicated leadership are instrumental to the growth and success of Miharo.

Date:           Wednesday, September 18, 2024

Time:          11 AM CT

Location:   Virtual – you must register to attend:  

                       https://bit.ly/3AdsyRB  

Cost:           Free of charge (thanks to wegg's sponsors as noted on the graphic).

Register:     https://bit.ly/3AdsyRB

Today in Global Small Business: Ad Campaigns That Are More Inclusive Have a Positive Impact

©iStock/Sakorn Sukkasemsakorn

What's affecting me, my clients, my colleagues and other global small business owners:

• A new academic research carried out for the advertising industry suggests that “Go woke, go broke," the snappy catchphrase devised by rightwing groups as a warning to brands, has got it all wrong.  New evidence that ad campaigns that are more inclusive have a positive impact on profits, sales and brand worth.
• Bed Bath & Beyond is pursuing global sales in key international markets, starting with a licensing agreement for stores in Mexico.
• Quote of the week: “Never write an advertisement which you wouldn’t want your own family to read. You wouldn’t tell lies to your own wife. Don’t tell them to mine. Do as you would be done by. If you tell lies about a product, you will be found out…” – David Ogilvy
• The NFL is going global and that's a good thing (to some).
• Last week the Private Label Manufacturers Association met in Amsterdam, this week the Canadian Council of Grocery Distributors meets in Vancouver and next week CIES, The Food Business Forum, convenes in Paris.  Global retailing is happening.
• The digital public infrastructure (DPI) of India is increasingly finding traction in other countries – truly global – and its reach is only going to increase.  

Paintings That You Struggle With

©2024 Laurel J, Delaney.  All rights reserved.

"You learn more from paintings that you really struggle with." – Dale Grimshaw 

The Field Guide to Going Global

©iStock/royyimzy

This latest edition of the Field Guide to Going Global from Baker McKenzie helps you examine foreign law issues for taking business models, products and technology international. Their guidance should be helpful whether you are working for a start-up company or a large multinational enterprise that is broaching new frontiers.

The guide addresses these questions:  Are you considering expanding into new jurisdictions? Are you aware which foreign laws and legal issues matter most? Have you prepared a detailed statement of facts, plans and questions for counsel?

What the World Thought of the U.S. Harris-Trump Debate 9/10/24

©iStock/Anamarija Mrkic

The first debate between Kamala Harris and Donald Trump was closely watched not only in the U.S. but around the world.

From Beijing to Budapest, here's how the debate went down, according to BBC foreign correspondents.

Is the U.S. a Good Example of Democracy?

©iStock/izanbar

The most common view – held by 72% of Americans – is that democracy in the U.S. used to be a good example, but has not been in recent years. Another 8% of Americans say U.S. democracy has never been a good example for other countries to follow.

Do you agree or disagree?  Read the analysis, which indicate that Americans are much more likely than people in other countries to say U.S. democracy used to be a good example. A median of 40% of adults across 34 other countries surveyed in 2024 take this view.

Why Language Barriers Are Still Holding Back Global Business Growth

©iStock/Tashatuvango

Going global is increasingly on a CEO’s and a CMO’s to-do list. In the UK alone, 87% of those businesses who trade internationally are planning on expanding their overseas operations this year, with a further 10% aiming to step outside the UK for the first time.

That’s a lot of cross-market communication campaigns. But, despite emerging technologies helping business bridge borders more easily than ever before, they’re still being held back by language barriers – to the tune of almost £50bn per year in the UK.

In this age of instantaneous tech, a lack of language skills is still putting global business success on mute. How can marketers avoid getting lost in translation?

Find out here.

Today in Global Small Business: Eight Essential International Business Skills

©iStock/Rawpixel

What's affecting me, my clients, my colleagues and other global small business owners:

• Eight essential international business skills.
• Master international growth with these winning strategies.
• Quote of the week:  “Success is not final; failure is not fatal: it is the courage to continue that counts.” – Winston Churchill
• US tightens export controls on quantum kit and chips for China, Iran and Russia.
• Embargoed and sanctioned countries.
• Why exporting should be a part of your business strategy.

Book of Hope

©2024 Laurel J. Delaney.  All rights reserved.

"Summer was about freedom and youth and no school and possibilities and adventure and exploration. Summer was a book of hope." – Benjamin Alire Sáenz 

Is India a Legitimate Option for Global Factory Production?

©iStock/natatravel

Roughly one of every four shipping containers passing through India is loaded or unloaded at the Jawaharlal Nehru Port on the west coast of India, on the docks jutting into the Arabian Sea just south of Mumbai. The flow of containers has roughly tripled over the past two decades, reaching the equivalent of 6.4 million 20-foot boxes last year.

Yet by the standards of the world’s largest ports — many of them in China — it remains a small operation.

Find out how India is now pursuing an aggressive campaign to catch up, readying plans for new ports while expanding existing docks. 

What Is the World's Most Multilingual Website?

©iStock/Wirestock

John Yunker – web globalization geek at Byte Level Research and also a prolific author of books, plays and short stories – always does his thorough research and has the answer to the question:  What is the world's most multilingual website? 

He says, "One might assume that tech leaders like Facebook and Google lead the internet in languages."

He goes on to say, "Yet according to recent analysis, the two most linguistically fluent websites on the internet are managed by not-for-profit organizations: The Jehovah’s Witnesses and Wikipedia."

Read on to discover the world's most multilingual website.

A Strong Dollar Is Good For the American Economy

©iStock/CalypsoArt

The United States has benefited from a profound shift in global capital flow, which has boosted the dollar.  But why is a strong dollar in America's best interests?

Not only does a strong dollar mean that there is a healthy demand for American-made goods and services, but, perhaps more important, it’s also a show of confidence in the U.S. government and financial institutions.

Learn how the shift in global capital flow has boosted the dollar, which should continue as the global economy adjusts to higher inflation and higher interest rates. 

Women Entrepreneurs Have the Fastest Growing Businesses in the United States

©iStock/Jacob Wackerhausen

From small shops to bold startups, women are trailblazing into entrepreneurship and making things happen on their own terms. But the playing field isn’t quite equal yet. Behind the breakthroughs, female founders still see more doors closed than opened regarding funding and fair chances. The percentage of women who started a business in the last year was 47%, compared to 44% for men.

Businesses owned and operated by black females in the United States between 2014 and 2019 increased by 50%. About 2.7 million enterprises in the United States are owned and managed by black women.

Learn more about the top major women entrepreneur statistics.  And see how many women entrepreneurs are turning to global expansion for growth.

Today in Global Small Business: What Will Sweeping Tariffs Across China Cost the United States? Plus, U.S.A. Labor Day

©iStock/vchal

What's affecting me, my clients, my colleagues and other global small business owners:

• With Donald Trump and Kamala Harris neck-and-neck in polls ahead of the United States presidential election, many are wondering how a second Trump administration would approach China, imposing sweeping tariffs, for example.
• Top geopolitical risks of 2024.
• Quote of the week:  "We must dare to be great; and we must realize that greatness is the fruit of toil and sacrifice and high courage." – Theodore Roosevelt
• Fed signals September rate cut and other economy stories to read this week (8/23/24).
• Why is cross-cultural communication important?
• Ongoing global supply chain challenges.
• History of Labor Day – may it be reflective.

Power of Reason to Believe

©2024 Laurel J, Delaney.  All rights reserved.

"Faith consists in believing when it is beyond the power of reason to believe." – Voltaire 

Navigating the Complexities of Different Markets, Particularly When Expanding Overseas

©iStock/NicoEINino

Businesses that are growing internationally face a constant struggle: They have to establish global consistency in their marketing message, but they must also localize it for various regions. Although many businesses opt to manage their marketing and creative internally, it can be a challenging and resource-intensive task. 

Navigating the complexities of different markets, particularly when expanding overseas requires many considerations.  Here's one of them.

Crafting Compelling Content That Resonates With an International Audience

©iStock/Rawpixel

A strong global social media content strategy requires thorough research to understand local trends, cultural nuances, customs, values, behaviors, and preferences across diverse target markets. With the insights gained from research, brands can create relatable content that aligns with the cultural sensibilities and interests of each target audience. 

Read more to learn how to transform your brand with international social media marketing.

A Profile of U.S. Importing and Exporting Companies (2020-2021)

©iStock/1933bkk

The U.S. Census Bureau, Department of Commerce, releases the report, A Profile of U.S. Importing and Exporting Companies, 2020-2021 (latest available report). This report provides information on identified U.S. companies and their known export or import value. Identified companies are enterprise-level companies that were successfully linked from import or export transaction records to the 2021 Business Register.

Underwater Relaxation Music (Video)

Today in Global Small Business: What Are Tariffs and Why Are They Rising?

©iStock/Darwel

What's affecting me, my clients, my colleagues and other global small business owners:

• What are tariffs and why are they rising?
• What every multinational company should know about…implementing an international compliance program (Part II).
• Quote of the week:  "Many economists and industry experts agree that the United States faces unfair competition and artificially low prices that have damaged the domestic steel industry. But they don't agree that a tariff is the right approach for addressing the problem." – Annie Lowrey
• BIS sets higher KYC standards for companies and universities over Russia diversion concerns.
• Why the increase focus on ESG?
• 3 ways to make DEI training stick, according to a global DEI exec.

Greatest Game in the World

©2024 Laurel J, Delaney.  All rights reserved.

"Baseball is the greatest game in the world, no doubt about it." – Harry Caray

SMEs Face Unique Cross-Border Compliance Hurdles

©iStock/Maximusnd

Unlike their larger counterparts, SMEs often lack dedicated tax departments or adequate resources to devote to compliance efforts. Many rely on a single financial professional or a small team to handle all aspects of their finances, including increasingly complex international tax obligations. 

The bottom line is that cross-border compliance complexity impacts SME's decision to enter new markets due to customs duty and import calculations, HS and tariff code classification, trade restrictions and shipping complexities, to name just a few of the challenges.

Learn more about how SMEs face unique cross-border compliance hurdles.

Grab Your Place at the 9th Annual Global Small Business Forum Held in Chicago 10/18/24

©2024 Laurel J. Delaney.  All rights reserved.

Get ready for the biggest and best 9th Annual Global Small Business Forum, "Global Success Within Reach – The Bigger Picture," held in Chicago on Friday, October 18th from 8:00-11:30 AM CT.  Hear from a cast of experienced speakers who know the ins and outs to global expansion.

Forum is sponsored by Associated Bank and hosted by Foley & Lardner.  

To learn more and to register, visit:  https://globalsmallbusinessforum.com/.  I [Laurel Delaney] hope to see you there!

Hello Export Impact

©iStock/CROCOTHERY

Hello "Export Impact,” a new platform where experts dive into the impactful work of the U.S. Department of Agriculture (USDA) Foreign Agricultural Service. This platform aims to keep you informed and engaged while you navigate the world of agricultural exports.

Check it out!  

Chicago: The Greatest City in the World Welcomes the DNC 2024

©iStock/Kelly Liu

Chicago is proud to welcome the 2024 Democratic National Convention to one of the greatest cities in the world. 

Named the Best Big City in the U.S. by Condé Nast Traveler readers for a record-breaking seven consecutive years, Chicago is home to award-winning restaurants, iconic attractions, stunning outdoor spaces, a rich cultural scene, vibrant neighborhoods, and a welcoming and inclusive spirit. I [Laurel Delaney] know, because I am a native of Chicago.

Learn more about the 2024 DNC in Chicago, including the latest updates, resources for delegates and media, tips for planning your visit, and more.

Today in Global Small Business: Can Saudi Arabia Buy the World?

©iStock/gorodenkoff

What's affecting me, my clients, my colleagues and other global small business owners:

• In the months before Mohammed bin Salman celebrated his 30th birthday nearly a decade ago, the yet-to-be anointed Crown Prince of Saudi Arabia was gifted a vital key to unlocking the kingdom's future: full purview of its Public Investment Fund.  Is he on a mission to buy the world?
• International SEO best practices in 2024.
• Quote of the week:  "We are a G20 country. One of the biggest world economies. We're in the middle of three continents. Changing Saudi Arabia for the better means helping the region and changing the world. So this is what we are trying to do here. And we hope we get support from everyone." – Mohammad bin Salman
• International students hone their language entrepreneurial skills.
• U.S. SBA administrator announces agreement with India to promote American small businesses globally.
• Check out the Pharr Global Business Hub, which officially opened its doors in a grand event attended by prominent local, state, and federal figures in TX.

Winter Is On My Head

©2024 Laurel J. Delaney.  All rights reserved.

"Winter is on my head, but eternal spring is in my heart." – Victor Hugo.

Here's Why Japan Could Be a Market For You

©iStock/SeanPavonePhoto

Japan offers a solid population of middle-class consumers with high disposable incomes and a keen interest in new technologies, which makes it ideal for international businesses that offer premium goods, services or innovative digital solutions.

As the he fourth-largest economy in the world after the United States, China and Germany, Japan offers companies eyeing expansion an exciting opportunity to grow their business in a truly unique market.

Interested?  To get started, here are a few things to know before you start moving your business to Japan.

How to Break Into Global Business

©iStock/Francesco Scatena

There are three initial phases to launch into international business. The article below breaks out the steps of each phase, including a rough timeline of how long you can expect each phase to take.  From research and planning, to making initial trips to your target countries, expect to spend six months to several years preparing for this exciting new facet of your company.

Ask yourself:  Why sell your product or service to international markets?  Take an honest appraisal of your business and yourself.  Are you ready?

Global Temperatures

©iStock/plyaset

The year 2023 was the warmest year since global records began in 1850 at 1.18°C (2.12°F) above the 20th century average of 13.9°C (57.0°F). This value is 0.15°C (0.27°F) more than the previous record set in 2016.

The 10 warmest years in the 174-year record have all occurred during the last decade (2014–2023). 

Track the U.S.national annual report for information on the 2023 climate conditions across the U.S. 

RIP the Almighty Susan Wojcicki

©2024 Laurel J. Delaney.  All rights reserved.

An early Googler and former YouTube CEO Susan Wojcicki dies from lung cancer on August 9, 2024 at the age of 56.  She had sent a note to employees and the world about stepping down as YouTube CEO on February 16, 2023.

Read the note sent by Google and Alphabet CEO Sundar Pichai to employees mourning the passing of Susan.

She was a force and will be missed in our world.  Condolences to her family during such a sad time.  

(Butterflies symbolize freedom, lightness, and joy, reminding us to let go of burdens and embrace a sense of liberation. They can also serve as messengers of spiritual evolution and connection with the divine, representing the soul's journey towards enlightenment and higher consciousness.)

Today in Global Small Business: What Attacks On Shipping Mean For the Global Maritime Order

©iStock/Suphanat Khumsap

What's affecting me, my clients, my colleagues and other global small business owners:

• What attacks on shipping mean for the global maritime order (full report).
• The New York Shipping Exchange has modified its operating strategy, responding to a significant shift in how customers contract for container shipments.
• Quote of the week:  "As we look at a future where we’re going to have to double our freight capacity, how do you create a freight system that’s integrated across the country when you have 50 different freight systems that are built one state at a time?” – Anthony Foxx
• GXO Logistics sees upward trend in global freight market.
• How disruption is dismantling global shipping.
• Why the world doesn't need another shipping lane.

Normal is Good Enough

©2024 Laurel J. Delaney.  All rights reserved.

"Our normal is good enough." – Team USA

The Yen Carry Trade

©iStock/plusphoto

There's panic on Wall Street and around the world recently, and it's not bad economic news or a terrible earnings report that's at fault. Instead, it's a highly leveraged yen "carry trade" that has led to billions of dollars in selling and liquidations starting in the crypto market on Sunday night.

Here's how the yen carry trade works.

1. Borrow yen at a low interest rate.
2. Convert yen to another currency, often U.S. dollars.
3. Buy assets that yield an interest rate higher than the Yen rate in (1). Ex. U.S. treasuries. 

According to the Motley Fool, if yields and exchange rates don't change, this is a brilliant trade because it is a simple arbitrage that prints money month after month.

They go on to say:  But something has changed. The interest rate on Yen debt is rising; the prior range was 0% to 0.1%, and the Bank of Japan announced a rate increase to 0.25% on Friday, bucking a decade-plus trend of essential zero rates.