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IBM4710 International Operation Management
THE TERM PROJECT PRESENTATIONTHE REASONS BEHIND
DC: Cape Town, South Africa
DC: BKK, Thailand
DC: Rio de Janeiro, Brazil
DC: Warsaw, Poland
PROJECT IDEMAND FORECASTING
Factors to determine…
Trading blocs Determine trade facilitation
Industry size Determine market potential
GDP per capita Determine purchasing power
Population Determine market potential
Other factorse.g. religions
Determine impact of factors for jeans consumption
CountriesMajor Trading Blocs and
Agreements
GDP per
capita (PPP)Population
Country
Risk
Rating
Major Religion(s)
S. KoreaWTO, UNCTAD, APEC,
ASEAN (dialogue partner)$27,790.00 48,508,972 A2
Christian (26.3%),
Buddhist (23.2%)
MalaysiaWTO, UNCTAD, APEC,
ASEAN$13,551.00 25,715,819 A2 Muslim (60.4%)
Tunisia WTO, UNCTAD $8,282.82 10,486,339 A4 Muslim (98%)
Namibia WTO, UNCTAD SADC $6,610.35 2,108,665 A3 Christian (80-90%)
Note:
•South Africa is a member of WTO, UNCTAD, SADC
•Thailand is a member of WTO, UNCTAD, APEC, ASEAN
Country Attractiveness Weight 1-5 S. Korea Malaysia Namibia Tunisia
Trade integration 5 4 5 5 2
Purchasing power 5 5 3 2 2
Market size 4 5 4 2 3
Country risk 3 4 4 2 1
Distance from distribution center 3 2 5 5 1
Religion Favorability 2 5 3 5 2
Total 93 89 74 42
Business Strength Weight 1-5 S. Korea Malaysia Namibia Tunisia
Location advantage 5 3 4 4 1
Market coverage 4 3 5 2 4
Regional cooperation 3 3 5 5 3
Total 36 55 43 30
0
20
40
60
80
100
120
0 20 40 60 80
S.Korea
Malaysia
Namibia
Tunisia
S. Korea Malaysia Namibia Tunisia
Business Strengths 36 55 43 30
Market Attractiveness 93 89 74 42
Market Potential 0.312081 0.298658 0.248322 0.14094
DC: Cape Town, South Africa
DC: BKK, Thailand
DC: Rio de Janeiro, Brazil
DC: Warsaw, Poland
Countries Price of $1 goods in US Adjusted Price
USA $ 1.00 $ 70
Malaysia $ 0.58 $ 41
Namibia $ 0.63 $ 44
Global Property Guide, “Price of $1 goods in Malaysia,” from http://www.globalpropertyguide.com/Asia/Malaysia/currency-value, accessed Dec 21st, 2009.Global Property Guide, “Price of $1 goods in Namibia,” from http://www.globalpropertyguide.com/Asia/Namibia/currency-value, accessed Dec 21st, 2009.
Determining Worldwide Monthly Sales 2008-09
Year(A)
Annual Sales(A)/12
Monthly Sales
2008 $210,750,000 $17,558,750
2009 $235,580,000 $19,631,667
Difficulties
• No exact data on Malaysian jeans market
Solution
Surrogate Technique
• Thai jeans market is used
Indexmundi, “Malaysia – Population,” from http://www.indexmundi.com/malaysia/population.html, accessed Dec 19th, 2009
(B) Population Ratio Malay/Thai65.9m/27.76m = 0.42
(A*B) Malaysian Jeans Market Size$285.714miliion*0.42 =
$120million
(A) Thai Jeans Market SizeTHB 10bn = $285,714,285.71(@THB35=$1)
Source: CM Wong, http://malaysiacrunch.blogspot.com/2009/09/malaysias-e-commerce-statistics.html
Malaysia sales to worldwide sales is estimated at
10%• Malaysia contributes 10% of
world apparel market• FASHION PRODUCTS, "Fashion Apparel
Industry Overview," from http://www.fashionproducts.com/fashion-apparel-overview.html, accessed Dec 20th, 2009.
Malay Monthly Sales
2008
$17,558,750 *10%
= $1,755,8752009
$19,631,667*10%
= $1,963,166.7
$ Sales = 1,697,293+12,978.26*t
Unit Sales = (1,697,293+12,978.26*t)/$41
*Malay; price per pair = $41
Difficulties
• No exact data on Namibian jeans market
Solution
textile industry value of 1.25% of total value added activities in country ($1,767,414,000,)
= $22,092,675
Indexmundi, “Malaysia – Population,” from http://www.indexmundi.com/malaysia/population.html, accessed Dec 19th, 2009
From $22,092,675– 20% is assumed to be
“jeans,”
Jeans Market Size =
$ 4,418,535 • globalEdge, “Apparel and Textile
Industry Trade Statistics,” from http://globaledge.msu.edu/industries/Apparel-and-Textiles/tradestats/, accessed Dec 22nd, 2009.
Namibian apparel market growth rate
9.37% per annum
(9.37% derived from future value equation from 5-year growth of 56.51%)
Source: CM Wong, http://malaysiacrunch.blogspot.com/2009/09/malaysias-e-commerce-statistics.html
Namibia sales to worldwide sales is estimated at
0.5%• Firm is an early mover in
Namibian market
Namibian Monthly Sales
2008
$ 17,558,750 *0.5%=
$87,793.752009
$19,631,667*.05% =
$98,158.335
$ Sales = 84864.63+648.9131*t
Unit Sales = (84864.63+648.9131*t)/$44
*Malay; price per pair = $44
Malaysia Sales
(@ $41 per Pair)
Namibia Sales
(@ $44 per Pair)
Total Sales Retail & Wholesale (75%) Online (25%) Total Sales
Jan-10 49,311 36,983 12,328 2,231
Feb-10 49,627 37,221 12,407 2,297
Mar-10 49,944 37,458 12,486 2,312
Apr-10 50,261 37,695 12,565 2,327
May-10 50,577 37,933 12,644 2,342
Jun-10 50,894 38,170 12,723 2,356
Jul-10 51,210 38,408 12,803 2,371
Aug-10 51,527 38,645 12,882 2,386
Sep-10 51,843 38,882 12,961 2,401
Oct-10 52,160 39,120 13,040 2,415
Nov-10 52,476 39,357 13,119 2,430
Dec-10 52,793 39,595 13,198 2,445
Jan-11 53,109 39,832 13,277 2,460
Feb-11 53,426 40,070 13,357 2,474
Mar-11 53,743 40,307 13,436 2,489
Apr-11 54,059 40,544 13,515 2,504
May-11 54,376 40,782 13,594 2,519
Jun-11 54,692 41,019 13,673 2,533
Jul-11 55,009 41,257 13,752 2,548
Aug-11 55,325 41,494 13,831 2,563
Sep-11 55,642 41,731 13,910 2,578
Oct-11 55,958 41,969 13,990 2,592
Nov-11 56,275 42,206 14,069 2,607
Dec-11 56,591 42,444 14,148 2,622
Malaysia Sales
(@ $41 per Pair)
Namibia Sales
(@ $44 per Pair)
Total Sales Retail & Wholesale (75%) Online (25%) Total Sales
Q1-12 170,724 128,043 42,681 7,954
Q2-12 173,573 130,180 43,393 8,087
Q3-12 176,422 132,316 44,105 8,220
Q4-12 179,271 134,453 44,818 8,352
Q1-13 182,120 136,590 45,530 8,485
Q2-13 184,968 138,726 46,242 8,618
Q3-13 187,817 140,863 46,954 8,751
Q4-13 190,666 143,000 47,667 8,883
Q1-14 193,515 145,136 48,379 9,016
Q2-14 196,364 147,273 49,091 9,149
Q3-14 199,213 149,410 49,803 9,282
Q4-14 202,062 151,546 50,515 9,414
H1-15 412,670 309,503 103,168 19,227
H2-15 424,066 318,049 106,016 19,758
H1-16 435,461 326,596 108,865 20,289
H2-16 446,857 335,143 111,714 20,819
H1-17 458,252 343,689 114,563 21,350
H2-17 469,648 352,236 117,412 21,881
H1-18 481,043 360,783 120,261 22,412
H2-18 492,439 369,329 123,110 22,943
H1-19 503,834 377,876 125,959 23,474
H2-19 515,230 386,422 128,807 24,005
PROJECT IIDISTRIBUTION CENTER LOCATIONS
DC: Cape Town, South Africa
DC: BKK, Thailand
DC: Rio de Janeiro, Brazil
DC: Warsaw, Poland
Criteria to Measures
• Each region has different
– environment,
– infrastructure and
– different data availability • Hence, the criteria for evaluation are different
• also different level of detail for each region
Criteria Sub-criteria Japan Singapore Korea China ThailandFavorable labor climate
Wage rates 3 2 3 4 4 Training requirements 4 4 4 3 5 Attitudes toward worker productivity 5 5 4 3 3 Union strength 5 5 4 4 4
Mean 4.25 4.5 3.75 3.5 4Proximity to markets
location 3 5 4 4 5Mean 3 5 4 4 5
Quality of life Good schools 5 5 5 4 5 Recreational facilities 4 4 4 5 5 Cultural events 5 4 4 5 4 Lifestyle 3 5 4 3 4
Mean 4.25 4.5 4.25 4.25 4.5Proximity to the suppliers and resources
Inputs of bulky 3 3 3 4 3 Perish or heavy raw materials 4 4 4 4 4
Mean 3.5 3.5 3.5 4 3.5Proximity to the parent company’s facilities
Plants supply 3 4 3 4 4 Other facilities for management 4 4 4 4 4 Staff support 4 4 3 5 4
Mean 3.67 4 3.3 4.33 4Utilities, taxes, and real estate costs
Utility costs 3 3 4 5 4 Local and state taxes 3 4 4 3 4 Financial incentives 4 4 4 4 4 Relocation cost 3 3 3 4 5 Land cost 3 3 3 5 3
Mean 3.2 3.4 3.6 4.2 4Other factors Room for expansion 3 1 4 4 4
Construction costs 3 3 3 4 3 Accessibility to multiple modes of transportation 5 5 4 5 5 The cost of shuffling people and materials between
plants4 3 4 4 4
Insurance costs 4 3 4 4 4 Competition from other firms for the workforce 4 4 3 3 4 Local ordinance 3 4 3 3 5 Community attitudes 2 3 3 3 3
Mean 3.5 3.25 3.5 3.75 4Total Score 25.37 28.15 25.9 28.03 29
ASI
A
ASIA:Results • Thailand, still has proven
to be the best choice.
• outstanding overall quality of life aspects,
• center of Indo-China Peninsula
• access to transport modes
• local ordinance
Factors Egypt Sudan MauritiusCape Verde
South Africa
Favorable Labor Climate
4 2 4 2 3
Proximity to market 2 3 4 2 5 Quality of life 4 2 3 2 3 Proximity to suppliers
and resources2 4 2 3 4
Proximity to the parent company’s facilities
3 3 3 1 4
Utilities, taxes, and real estate costs
4 3 2 2 3
Total Score 19 17 18 12 22
AFRICA
AFRICA: Results • South Africa, still has
proven to be the best choice
– Good seaports availability
– Adequate infrastructure for distribution
– Advance communication technology
Criteria Sub-criteria Poland Italy Czech HungaryFavorable labor climate Wage rates 3 3 4 5
Training requirements 5 3 3 3 Attitudes toward worker
productivity4 5 3 3
Union strength 2 1 3 4Mean 3.5 3 3.25 3.75
Proximity to markets Location 4 3 4 3Quality of life School life expectancy 4 5 4 4
Life expectancy 4 5 4 3Mean 4 5 4 3.5
Proximity to the suppliers and resources
Proximity to cotton sources 1 4 1 2
Proximity to the parent company’s facilities
Distance from Hong Kong 3 2 3 3 Availability of large airport 3 5 2 2Mean 3 3.5 2.5 2.5
Utilities, taxes, and real estate costs
Corporate tax 4 2 4 5 Land cost 4 2 3 5Mean 4 2 3.5 5
Other factors Accessibility to multiple modes of transportation
4 5 2 2
Economic competitiveness 2 3 4 3 Country risk 3 3 5 4 Ease of doing business 2 3 2 4 Corruption perceptions 2 2 3 3 Mean 2.6 3.2 3.2 3.2
Total Score 20.1 23.7 21.45 22.95
Euro
pe
Every countries presented above are member of European Union
EUROPE:Results
• The firm should switch from Poland to Italy
• Italy has more adequate infrastructure
– Such as
• sea ports
• convenient transportation for both materials and people.
Brazil Venezuela Argentina ColumbiaFavorable labor climate 5 3 4 2Proximity to markets 5 3 3 2Quality of life 2 5 4 5Proximity to suppliers and resources 5 3 4 2Proximity to parent company 3 5 2 4Utilities, taxes and real estate costs 3 3 5 4
Total Score 23 22 22 19
LATIN AMERICA
LATIN AMERICA: Results
• Brazil, the current DC for Latin America still proven to be best choice
– large market coverage
– adequate sea ports availability
http://www.globalshippingcosts.com/
For shipment from Hong Kong plant to DC in Bangkok, Thailand, the detail is as follow
• Port of Loading: Port of Hong Kong, HK
• Port of Destination: Laem Chabang, Thailand
• Freight cost: $1,725
• Transit time: 2.85 days
• Distance: 939.68 nautical miles
For Asia, Thailand is chosen as DC and Malaysia is chosen as target market.
• Port of Loading: Laem Chabang port, Thailand
• Port of Destination: Johor port, Malaysia
• Freight cost: $1,725
• Transit time: 2.19 days
• Distance: 722.18 nautical miles
* The tariff is not applied for both Thailand and Malaysia are members of ASEAN
• For shipment from Hong Kong plant to DC in Cape Town, S. Africa, the detail is as follow
• Port of Loading: Port of Hong Kong, Hong Kong (PRC)
• Port of Destination: Cape Town port, South Africa
• Freight cost: $1,987.50
• Transit time: 19.44 days
• Distance: 6,416.54 nautical miles
For Africa, South Africa is chosen as DC and Namibia is chosen as target market.
• Port of Loading: Cape Town port, S. Africa
• Port of Destination: Luderitz port, Namibia
• Freight cost: $1,725
• Transit time: 1.42 days
• Distance: 469.77 nautical miles*Both South Africa and Namibia are members of SADC, but the agreement on trade and tariff among SADC members are yet to be discussed in detail.
For there is no information on current target market inEurope, only the transportation cost for shipping goods fromHong Kong plant to Genoa port, Italy are calculated instead.
• Port of Loading: Port of Hong Kong, HK
• Port of Destination: Genoa port, Italy
• Freight cost: $1,987.50
• Transit time: 15.44 days (via Suez)
• Distance: 5,095.17 nautical miles
For there is no information on current target market in Africa, only the transportation cost for shipping goods from Hong Kong plant to Rio de Janeiro, Brazil will be calculated instead.
• Port of Loading: Port of Hong Kong, HK
• Port of Destination: Rio de Janeiro port, Brazil
• Freight cost: $1,987.50
• Transit time: 28.98 days
• Distance: 9,564.84 nautical miles
Asia: Data for Evaluation
Favorable labor climate
Japan:
• Min wage: $11,027/yr
• High productivity, better product quality produced by Japanese management methods
• Japanese are nationalisms
Singapore
• No law or regulation on minimum wage, but average salary is considered high
Asia: Data for Evaluation
Korea:• Min wage: $10,280/yr• Korea is known for rapid economic growth and relatively low wage
inequality• The Korean Union will have access to Russian Union, China Union,
Japan Union and Pacific OceanChina:• Min wage varies by regions• Wage rate in China is very low to compare with others in the worldThailand: • Min wage: $2,308/yr• The wage rate in Thailand has showed to be rather constant while
others increasing.
Asia: Data for Evaluation
Proximity to marketsJapan:• more competitors, difficult to earn market share in Japan Singapore:• Distance from Singapore to Hong Kong is 2573 kilometers Korea: • Hong Kong- Seoul, Korea (South) Distance: 2,094 km China: • The market is connected with the mainland of China. It is very
convenient to travel from China mainland to Hong Kong across the city called Shen Zhen, and the documentation has become easier.
Thailand: • The Distance is 1,720km between Thailand and Hong Kong
Asia: Data for Evaluation
Quality of lifeJapan:• The two top-ranking universities in Japan are the University of Tokyo and
Kyoto University. • There are 239,660 facilities for various sport activities in Japan. The most
common facilities are gymnasium (21.8%), multipurpose sports stadium (20.7%), outdoor swimming pool (14.1%), outdoor tennis court (9.3%), baseball and softball ground (4.5%).
Singapore: • In addition to the usual primary and secondary schools, Singapore has
junior colleges and centralized institutes. Singapore also has a number of polytechnics and universities.
• Singapore maintains tight restrictions on arts and cultural performances. • Singapore provides a safe environment, wide choice of housing, first-class
medical services and excellent education, all of which ensure a high standard of life.
Asia: Data for Evaluation
Korea: • Korea also ranks second on math and literature and first in problem solving in the
world • South Korea is a land of multiple festivities and colorful events. Some of the
famous cultural events of South Korea include: Seoul International Cartoon & Animation Festival, Geumsan Ginseng Festival, Hansan Mosi Cultural Festival, Jeonju Sori Festival of South Korea.
China: • Recent research conducted by the UN shows that China ranked 87th among 162
countries according to the Human Development Index (HDI), a composite measure of a country's development that takes into account life-expectancy, educational enrolment, adult literacy and per capita income.
• The education system is China is keeping on adapting with the newest system and the most appropriated for the locals to apply, and there is more communication with schools overseas for exchange of experiences and methods of teaching.
• Cultural background of Chinese people has also given them chance to involve with many cultural-based events.
Asia: Data for Evaluation
Thailand:
• The numerous of international schools and advanced programs have made Thailand with a better educational environment.
• Due to the influences from many foreigners who are either on their long-term holiday or expats who work in Thailand have affect Thais a rather international and upstanding concept of living.
• More recreational facilities are built up for its tourism industry, and also gives benefits to the Thai people who can use to entertain during their free time.
Asia: Data for Evaluation
Proximity to the suppliers and resourcesJapan:• There is a close collaboration with quality-oriented suppliers allows Japan to do
import and export.Singapore: • Singapore's geographical location is one of the world's crossroads. Unique
geographical conditions make it develop into a major commercial, communications, tourism center
Korea: • Proximity to the biggest market in China. China: • The ports in China has developed to deal with international trading, suppliers can
ship resources easily nowadays.Thailand: • Thailand is rather open to foreigner market, and due to the airline system, it has
been a center to connect many countries in Asia and across the Pacific Ocean.
Asia: Data for Evaluation
Proximity to the parent company’s facilitiesJapan: • Supplier evaluations are carried out in order to ascertain that the
relationship is sound and should be continued. This is based on a diagnostic approach. First, the supplier is asked to provide self-evaluation on 89 items, divided into the categories "Chemical Substances*," "Quality," "Cost," "Delivery Time," "Environmental Conservation," and "Management." If any problems are detected, staff provides proposals for corrective actions and required action items, in order to work towards a solution.
Singapore:• Singapore is a technological and full of the human resources to
develop and expand more facilities and also easily travelled by air from Hong Kong.
Asia: Data for Evaluation
Korea: • Korea is known not only for rapid economic growth, but
also known for technological and developed facilities to meet the suppliers and buyers’ meets.
China: • Chinese government has been trying to reduce barriers
between Hong Kong and the mainland, many laws and regulations have changed to approach this goal.
Thailand: • Thailand has increasing number of well-trained employees
and facilities, so there is less difficulties the company worries about on the facilities that need to be transferred.
Asia: Data for Evaluation
Utilities, taxes, and real estate costsJapan• 84 of 122 products surveyed are more expensive in Japan, to increase Japan's
international trade surplus. Japan is providing financial incentives for consumers to help it meet its goal. As a result, companies who have more exposure to the Asian market will benefit the most.
• The relocation costs include all aspects of your move, such as the size of your shipment, date of move, prices, packing services, packing materials, ocean rates and so on. The nation's overall average land price went up by 6.8 percent from a year earlier in residential areas and 7.5 percent in commercial areas.
Singapore• Latest electricity cost (tariffs) - 16.35¢ per kWh, Latest gas cost (tariffs) - 15.23¢
per unit. • The current corporate tax rate is 18% which will be further reduced to 17% starting
from 2010. • In addition, certain tax exemptions are available on annual profits of up-to 300K
which makes Singapore as a very attractive place to do business for small-to-midsize companies
Asia: Data for Evaluation
Korea• Utilities in Korea will generally average around 70,000 won per
month. However, this will vary according to your lifestyle with gas/oil being the largest component of your utilities bill.
• Buying costs are quite high in Korea. A foreigner can purchase the property through the stock company, and then remit the revenue out of the country in the form of dividends.
• Thailand:• According to the data as of January 2009, the estimated warehouse
value is equal to THB 8,454,000 including of 11 steps.• http://www.doingbusiness.org/ExploreTopics/DealingLicenses/Deta
ils.aspx?economyid=186
Asia: Data for Evaluation
Tax or mandatory
contribution
Payments
(number)
Notes on
Payments
Time
(hours)
Statutory tax
rateTax base
Total tax rate (%
profit)Notes on TTR
Social security/housing
fund contributions1 online filing 192 44.0% gross salaries 49.6
Corporate income tax 1 online filing 96 20.0% taxable profits 5.8
Urban maintenance tax 0 paid jointly - 7.0% VAT 3.5
Education surcharge 0 paid jointly - 3.0% VAT 1.5
Stamp duty 1 online filing - 0.0% transactions 1
Real estate tax 1 - 1.2%80% building
value0.9
Levies for construction and
Maintenance of River
projects
0 paid jointly - 1.0%VAT and business
tax0.5
Business tax 1 - 5.0% capital gain 0.5
Land use tax 1 online filing -RMB6 per square
meterland area 0.4
Value added tax (VAT) 1 online filing 216 17.0% value added not included
Totals: 7 504 63.8
China
Asia: Data for Evaluation
Other factorsJapan:• Transportation in Japan is modern and infrastructure spending has been large.
Japan's workforce grew by less than 1% per year in the 1970s and 1980s. • Labor force participation differed within age and gender groupings and was similar
to that in other industrialized nations in its relative distribution among primary, secondary, and tertiary industries.
Singapore• Situated at the crossroads of international shipping and air routes, • Singapore is a center for transportation and communication in Southeast Asia. • Work force (2009, 2.94 million): Manufacturing--19.8%; services--67.3%. Several of
eleven existing incentives will be merged into a single umbrella Financial Sector Incentive (FSI) scheme, which offers simpler administrative procedures and more flexible qualifying criteria.
• The construction boom is stretching resources, as costs of building materials look set to keep climbing through 2008; Singapore prices jumped 12 percentage points to 15 per cent in 2007.
Asia: Data for Evaluation
Korea• HK and Korea have more room for expiation, currently, investment
from South Korea stands at only 0.5 percent of total foreign direct investment in Thailand, according to the Thai leader.
• For an increasing number of home and business owners in Korea, the solution is to hire a construction management firm. Companies do everything from managing the budget, overseeing design and reduce these costs by 5 to 10 percent.
• Transportation in South Korea is provided by extensive networks of railways, highways, bus routes, ferry services, and air routes that cress- cross the country.
• Major markets (2008)--China (21.7%), U.S. (11.0%), Japan (6.7%), Hong Kong (4.7%). Major suppliers (2008)--China (17.7%), Japan (14.0%), U.S. (8.8%), Saudi Arabia (7.8%), U.A.E. (4.4%).
Asia: Data for Evaluation
China
• Construction activity is rising in China.
• Despite of its seemingly bottomless supply of unskilled workers, China is suffering labor shortages in certain skilled trades.
• China reports strong construction growth in private housing, commercial real estate and public infrastructure, while activity in public housing, healthcare and education is weaker.
Asia: Data for EvaluationConstruction Cost (3) Per square meter
Industrial Building (warehousing) 6,600 190.08
Factory construction* 10,800 311.03
Electrical fit-up** 4,000 115.20
Air-conditioning*** 3,100 89.28
General office construction**** 27,300 786.22
These rents are inclusive of management fees and air-conditioningThe rent-free period ranges between one to two monthsGrade A indicates superior premises, Grade B somewhat less so.* 4,000 m2 as example, with 200 m2 office space, Western sanitary ware/fit-ups, excludes cost of land, electric fit-up and air-conditioners.** Includes cost of 1,000 kVA power transformer, Main and Sub Distribution panels, general lighting, wiring and receptacles.*** Includes office, restrooms, and utility areas; however, assumes minimum 5 meter high factory/production area.**** Grade B cement construction, 5 floors, 500 m2 per floor (2,500 m2 total), aluminum framed windows/doors, T Bar dropped ceiling for recessed lighting, Western amenities.
There are less manufacture firms of clothing industry in Thailand, and fewer competitors.
Thailand
Asia: Data for Evaluation
Trade BarriersJapan• The Japanese government levies both consumption tax and customs tariffs
over the country’s import trade. Customs tariffs are classified as• General rates: Primary tariffs applicable as per the law. • Temporary rates: Additional tariffs applied for a specific period. • Preferential rates: It includes customs duty on imports from developing
countries. • WTO rates: Imports duty rates as authorized by the WTO. • Since April 2009, an additional 5% consumption tax has been imposed on
imported goods. They include imported goods such as leather products and knitwear which are exempted from this tax. Japan holds strategic position in international trade due to its remarkable industrial growth. By diluting its trade barriers, Japan can assume a more significant role in free trade market.
Asia: Data for Evaluation
Singapore• Competition: The FTA contains specific conduct guarantees to ensure that commercial enterprises
in which the Singapore government has effective influence will operate on the basis of commercial considerations and will not discriminate in their treatment of U.S. firms.
• Transparency: In keeping with the FTA's transparency obligations Singapore has circulated more draft laws and regulations for public comment, including those relating to the implementation of the FTA.
Korea• Korea’s average MFN applied tariff rate in 2008 was 12.6 percent for all products and Korea has
bound 94.5 percent of its tariff lines. • Korea has established tariff-rate quotas (TRQs) intended to provide minimum access to previously
closed markets or to maintain pre-Uruguay Round access. • In-quota tariff rates may be very low or zero, but the over-quota tariff rates are often prohibitive. • For procurement of construction services by sub-central and government enterprises covered,
Korea has a threshold of approximately $22 million, which is three times the threshold applied by the United States
• Investment barriers: – Capital market reforms have eliminated or raised ceilings on aggregate foreign equity ownership, individual
foreign ownership, and foreign investment in the government, corporate, and special bond markets. – These reforms have also liberalized foreign purchases of short-term financial instruments issued by
corporate and financial institutions.
Asia: Data for Evaluation
China
• Manufacturing become the main source of China’s GDP, as many foreign company establish their industry in China, more people have concern on the barriers to invest in China.
• The law-making and revision procedures are rather complicated, which to a great extent impedes the issuance of policies concerning the rational use of foreign investment.
Thailand
• Thailand's high tariffs remain an impediment to market access in many sectors. Its average applied most favored nation (MFN) tariff rate is 11.2 percent with some tariffs as high as 80 percent.
• The highest tariff rates apply to imports competing with locally produced goods, including agricultural products, automobiles and automotive parts, motorcycles, alcoholic beverages, fabrics, paper and paperboard products, and restaurant equipment.
• Moreover, the Royal Thai Customs website automatically defaults to a statutory tariff rate rather than the WTO MFN rate for goods from WTO members unless exporters identify the WTO rate as a preference, resulting in confusion on the part of some U.S. exporters as to what the actual duty rates should be for their goods.
Africa: Data for Evaluation
South Africa• Min wage: $2,561/yr• Life expectancy: 48.98 yrs• School life expectancy 13 yrs• Literacy: 86.4%• Cape Town is sometimes disrupted by the weather, but the port is now
equipped to deal with all manner of emergencies and ship safety is of paramount importance. The port of Cape Town has a total of 34 berths and dry dock repair facilities to accommodate vessels of 1,806 tons and 61 meters in length. The Victoria & Alfred basins of the port accommodate passenger cruise ships, while the container and multipurpose terminals deal with a wide variety of cargo. Also located at the port is a yacht club, marina and the National Sea Rescue Institute (NSRI). Cape Town port certainly remains of great importance to the economy of South Africa.
• Corporate tax: 28%• Situates adjacent to the south of Namibia
Africa: Data for EvaluationFactor Egypt Sudan
Favorable labor
climate
- Labor force: 25.8M (ranking 133)
By occupation - Agriculture: 13.1%
- Industry: 37.7%
- Services: 49.2%
- Unemployment rate: 9.7%
- Age structure: 15-64 years 63.8% (Male
26,823,127 / Female 26,169,421)
- Labor force: 11.92M (ranking 42)
By occupation - Agriculture: 80%
- Industry: 7%
- Services: 13%
- Unemployment rate: 18.7%
- Age structure: 15-64 years 56.8% (Male
11,745,683 / Female 11,603,906)
Proximity to
markets
- Distance from Egypt to Namibia is . or .
- Distance from Egypt to South Africa is .
or .
- Distance from Sudan to Namibia is . or .
- Distance from Sudan to South Africa is . or .
Quality of Life
- Literacy: 71.4% (2005est)
- School life expectancy: 15 years and over
can read and write (2005est)
- Education expenditures: 4.2% of GDP
(ranking 96)
- People living with HIV/AIDS: 9,200
(ranking 108, 2007est)
- HIV/AIDS – Deaths: Fewer than 500
(ranking 84, 2007est)
- Literacy: 61.1% (2003est)
- School life expectancy: 15 years and over can
read and write (2003est)
- Education expenditures: 6% of GDP (ranking 42,
1991est)
- People living with HIV/AIDS: 320,000 (ranking
22, 2007est)
- HIV/AIDS – Deaths: 25,000 (ranking 19,
2007est)
Africa: Data for EvaluationFactor Egypt Sudan
Proximity to
Suppliers and
Resources
Distance from Egypt to Namibia is . or . Distance from Sudan to Egypt is . or .
Proximity to the
Parent CompanyDistance from Egypt to Hong Kong is . or . Distance from Sudan to Hong Kong is . or .
Utilities, Taxes,
and Real Estate
Costs
- Price (sq. m): $856 For a 120sq. m. property,
usually an apartment.
- Rent/month: $753 For a 120sq. m. property.
- Roundtrip Cost: 11.7% The total cost of
buying and then reselling an apartment.
- Rental Yield: 7.04% For a 120sq. m.
property, usually an apartment.
- Income Tax: 10.00%
- Capital Gains Tax: 0.0%
Assumptions: The property was bought for
US$250,000 / €250,000, and sold 10 years
later, after a 100% appreciation.
- Landlord & Tenant Law: Pro-Tenant Rating is
based on a detailed study of each country’s
law and practice.
- Price (sq. m): $600-$800 For a 120sq. m.
property, usually an apartment.
- Rent/month: $300-$500 For a 120sq. m.
property.
- Roundtrip Cost: 15.5% The total cost of
buying and then reselling an apartment.
- Rental Yield: 7.84% For a 120sq. m.
property, usually an apartment.
- Income Tax: 15%
- Capital Gains Tax: 5%
Assumptions: The property was bought for
US$250,000 / €250,000, and sold 10 years
later, after a 100% appreciation.
- Landlord & Tenant Law: Pro-Tenant Rating
is based on a detailed study of each
country’s law and practice.
Africa: Data for EvaluationFactor Mauritius Cape Verde
Favorable labor climate
- Labor force: 584000- Unemployment rate: 7.2% - Age structure: 15-64 years 70.4% (Male 449176/ Female 455057)
- Labor force: 196100- Unemployment rate: 21% - Age structure: 15-64 years 58.5% (Male 123376 / Female 127653)
Proximity to markets
- Distance from Mauritius to South Africa is 4132 km. or 2568 miles.- Distance from Mauritius to Namibia is 4186 km. or 601 miles.
- Distance from Cape Verde to South Africa is 6999 km. or 4349 miles. - Distance from Cape Verde to Namibia is 6066 km. or 3769 miles.
Quality of Life
-Literacy: 84.4% - School life expectancy: 14 years- Education expenditures: 3.9% of GDP - People living with HIV/AIDS: 13000 - HIV/AIDS – Deaths: Fewer than 100
- Literacy: 76.6%
- School life expectancy: 12 years
- Education expenditures: 6.3% of GDP - People living with HIV/AIDS: 775 - HIV/AIDS – Deaths: 225
Proximity to Suppliers and Resources
Distance from Mauritius to Egypt is 6221 km. or 3866 miles.
Distance from Cape Verde to Egypt is 5820 km. or 3620 miles.
Proximity to the Parent Company
Distance to Hong Kong is 7742 km. or 4810 miles. Distance to Hong Kong is 13836 km. or 8597 miles.
Utilities, Taxes, and Real Estate Costs
- Price (sq. m): $85000 For a 100sq. m. property, usually an apartment.- Rent/month: $300 For a 100sq. m. property.- Roundtrip Cost: 20.6% The total cost of buying and then reselling an apartment. - Rental Yield: 6.17% - Income Tax: 12.00%- Capital Gains Tax: 0.0% Assumptions: The property was bought for US$250,000 / €250,000, and sold 10 years later, after a 100% appreciation.- Landlord & Tenant Law: Pro-Tenant Rating is based on a detailed study of each country’s law and practice.
- Price (sq. m): $1300For a 100sq. m. property, usually an apartment.- Rent/month: n/a- Roundtrip Cost: 18% The total cost of buying and then reselling an apartment.- Rental Yield: 8.6% - Income Tax: 14%- Capital Gains Tax: 3% Assumptions: The property was bought for US$250,000 / €250,000, and sold 10 years later, after a 100% appreciation.- Landlord & Tenant Law: Pro-Tenant Rating is based on a detailed study of each country’s law and practice.
Africa: Data for Evaluation
Egypt Sudan Mauritius Cape Verde
Ocean
Freight
Port of Alexandria, Egypt to Port of Walvis Bay, Namibia
Freight: $2,069.10
Transit Time: 10.22 Days
Distance: 3,371.87 nautical miles
Port of Sudan, Egyptto Port of Walvis Bay, Namibia
Freight: $1,769.91
-Transit Time: 8.74 Days
Distance: 2,884.29 nautical miles
Port of Louis, Mauritius to Port of Walvis Bay, Namibia
Freight: $1,473.24
Transit Time: 7.28 Days
Distance: 2,400.84 nautical miles
Port of Porto Grande, Cape Verde Islands to Port of Walvis Bay, Namibia
Freight: $2,046.36
Transit Time: 10.11 Days
Distance: 3,334.82 nautical miles
Europe: Data for EvaluationCriteria Sub-criteria Poland Italy Czech HungaryLabor Climate Min wage $8,309/yr set by industry $6,792/yr $6,081/yrProximity to Market
The proximity to market is determined according to the country’s location that qualified as a central point for the whole continent logistics
Quality of Life School life expectancy
15yrs 16yrs 15yrs 15yrs
Life expectancy 75.63yrs 80.2yrs 76.81yrs 73.44Proximity to the suppliers and resources
Nearest sources of cottons
Greece Spain, Greece, Turkey, Egypt
Greece Greece, Turkey
Proximity to the parent company’s facilities
Distance from HK 8273.47km 9278.24km 8782.12km 8564.74kmLarge airport availability
4 airports 9 airports 2 airports 2 airports
Utilities, taxes, and real estate costs
Corporate Tax 19% 27.5% 20% 16%Land price/m2 €3,348 €5,541 €4,015 €1,683
Other factors Landlocked No No Yes YesEconomic competitiveness
4.28 4.36 4.58 4.35
Country risk rating
A3 A3 A2 A4
Ease of doing business
76th 65th 75th 41st
Corruption perception index
4.6 4.8 5.2 5.1
Europe: Data for Evaluation
Cotton Producers (http://upload.wikimedia.org/wikipedia/commons/4/4f/2005cottonseed.PNG)
Europe: Data for Evaluation
Poland• The availability of cheap land and a large, relatively skilled labor force are among Polish strengths.• Source: http://globaledge.msu.edu/countries/poland/economy• In 1992 two nationwide labor unions existed. • The Solidarity labor union (Solidarnosc) was internationally known for the decade of strikes and
efforts to achieve reform that finally thrust it into a central political role in 1989. • The National Coalition of Labor Unions, originally established by the communist government after
the suppression of Solidarity in the early 1980s, became independent of state control in 1990 and began to compete with Solidarity for members.
• Source: http://www.photius.com/countries/poland/economy/poland_economy_labor_force.html
Italy• Chronic problems of inadequate infrastructure, corruption, and organized crime act as disincentives
to investment and job creation in the south.• Unions claim to represent 40% of the work force.• Four major confederations: CGIL, CISL, UIL, UGL = 35% of the work force. • The confederations have had an important consultative role on national social and economic issues.• Source: http://globaledge.msu.edu/countries/italy/economy/
Europe: Data for Evaluation
Czech• There are altogether 51 trade unions in Czech Republic
– http://www.radio.cz/en/article/73207
• Union - Right to strike: The new system stipulates a 50 per cent quorum and a two thirds majority vote requirement to call a strike, and trade unions are no longer required to provide employers with a list of names.
• Source: http://survey07.ituc-csi.org/getcountry.php?IDCountry=CZE&IDLang=ENHungary• Businesses have complained, however, that increased taxes, particularly on labor,
have decreased Hungary's economic competitiveness compared to other countries in the region.
• Source: http://globaledge.msu.edu/countries/hungary/economy• Labor disputes are usually resolved by conciliation boards; appeal may be made to
courts. Since 1991, most unions have been hesitant to strike, preferring instead to act as a buffer between workers and the negative side effects of economic reform. Collective bargaining is permitted but is not widespread.
• Source: http://www.nationsencyclopedia.com/Europe/Hungary-LABOR.html
Latin America: Data for EvaluationArgentina Columbia
Favorable labor climate
-Labor force: 16.8 M (37)
-Labor force by occupation:
Industry: 23%
-Unemployment rate: 9.6% (112)
-Age structure: 15-64 years 63.5%
(male 12,961,725/female
13,029,265)
-Labor force: 20.03 M (30)
-Labor force by occupation:
Industry: 18.8%
-Unemployment rate: 12% (133)
-Age structure: 15-64 years 65.4% (male
14,571,536/female 15,297,179)
Proximity to markets
Distance from Buenos Aires to Rio de
Janeiro is 1952 kilometers
Distance from Bogota to Rio de Janeiro is
4530 kilometers
Quality of life -Literacy: 97.2%
-School life expectancy (primary to
tertiary education): 15 years
- HIV/AIDS - people living with
HIV/AIDS: 120,000 (2007 est.) (42)
-HIV/AIDS - deaths: 7,000 (2007 est.)
(39)
-Literacy: 90.4%
- School life expectancy (primary to tertiary
education): 12 years
- HIV/AIDS - people living with HIV/AIDS:
170,000 (2007 est.) (34)
- HIV/AIDS - deaths: 9,800 (2007 est.) (33)
Latin America: Data for EvaluationArgentina Columbia
Proximity to suppliers and resources
Distance from Buenos Aires to Rio de
Janeiro is 1952 kilometers.
Distance from Bogota to Rio de Janeiro is
4530 kilometers.
Proximity to other parent companies
Distance from Buenos Aires to Hong
Kong is 18,492 kilometers
Distance from Bogota to Hong Kong is
16,897 kilometers.
Utilities, taxes and real estate costs
Price (sq.m): $1,994 For a 120 sq. m.
property, usually an apartment.
Rent/month: $1,504 For a 120 sq. m.
property.
Income Tax: 21.00% Assumptions:
Owners are a non-resident couple
drawing US$ / €1,500 per month in
rent, with no other local income.
Price (sq.m): $1,688 For a 120 sq. m.
property, usually an apartment.
Rent/month: $1,504 For a 120 sq. m.
property.
Income Tax: 28.56% Assumptions: Owners
are a non-resident couple drawing US$ /
€1,500 per month in rent, with no other
local income.
Latin America: Data for EvaluationBrazil Venezuela
Favorable
labor climate
-Labor force: 95.21M (6)
By occupation -Industry: 14%
-Unemployment rate: 7.4% (71)
-Age structure: 15-64 years 66.8%
(Male 65,804,108 Female
67,047,725)
-Labor force: 12.67M (41)
-Labor force by occupation:
Industry: 23%
-Unemployment rate: 10.9%
-Age structure: 15-64 years 64.3% (male
8,480,872/female 8,754,620)
Proximity to
markets
0 km (The center of apparel and
textile market of South America is in
Brazil)
Distance from Caracas to Rio de Janeiro:
4510 kilometers
Quality of life -Literacy: 88.6%
- School life expectancy (primary to
tertiary education):14 years
- HIV/AIDS - people living with
HIV/AIDS: 730,000 (2007 est.) (16)
- HIV/AIDS - deaths: 15,000 (2007
est.) (25)
-Literacy: 93%
- School life expectancy (primary to tertiary
education):12 years
- HIV/AIDS - people living with HIV/AIDS:
110,000 (2007 est.) (45)
- HIV/AIDS - deaths: 4,100 (2007 est.) (49)
Latin America: Data for EvaluationBrazil Venezuela
Proximity to
suppliers and
resources
Biggest cotton producer in the
region is Brazil
Distance from Caracas to Rio de
Janeiro is 4510 kilometers
Proximity to
other parent
companies
Distance from Rio de Janeiro
to Hong Kong: 17,708
kilometers
Distance from Caracas to Hong Kong:
16,376 kilometers
Utilities, taxes
and real estate
costs
Price (sq.m): $): $2,277 For a
120 sq. m. property, usually
an apartment
Rent/month: $1,842 For a
120 sq. m. property.
Income Tax: 15.00%
Price (sq.m): n.a
Rent/month: n.a
Income Tax: 22.16% Assumptions:
Owners are a non-resident couple
drawing US$ / €1,500 per month in
rent, with no other local income.
Latin America: Data for Evaluation
Foreign-Trade Zones/Free Ports
• Argentina has two types of tax-exempt trading areas: Foreign Trade Zones (FTZs), which are found throughout the country; and the more comprehensive Special Customs Area (SCA), which covers all of Tierra del Fuego Province and whose benefits apply only to already established firms.
• Brazil and Argentina are Mercosur's economic giants. Bolivia, Chile, Colombia, Ecuador and Peru are associate members; they can join free-trade agreements but remain outside the bloc's customs union. Moves to include Chile as a full member were suspended after Santiago signed a free-trade deal with the US in 2002.
Latin America: Data for Evaluation
Foreign-Trade Zones/Free Ports
• Mercosur tariff policies regulate imports and exports and the bloc can arbitrate in trade disputes among its members.
• In the longer term, Mercosur aims to create a continent-wide free-trade area, and the creation of a Mercosur development bank has been mooted.
• Full members: Argentina, Brazil, Paraguay, Uruguay
• Full member pending ratification: Venezuela
• Associate members: Bolivia, Chile, Colombia, Ecuador, Peru
• Headquarters (secretariat): Montevideo, Uruguay
• Official languages: Spanish, Portuguese
• Combined GDP: US$ 1.1 trillion
Latin America: Data for Evaluation
Foreign-Trade Zones/Free Ports• The Brazilian and Argentinean governments have decided
for a truce in their discrepancies in order to harmonize the trade relationships that eventually, could jeopardize the Mercosur trade block.
• During that time they will not adopt unilateral measures that may hinder each other and speed up negotiations to solve disputes around automotive, textiles, shoes, paper, steel, poultry, and dairy products. With the devaluation of the Real currency early 1999, the competitive advantages of the automotive industry in Brazil improved compared to Argentina, while the automotive trade…
Latin America: Data for Evaluation
Foreign-Trade Zones/Free Ports• The Free Trade Area of the Americas (FTAA) is an attempt to
expand the failed North American Free Trade Agreement (NAFTA) to every country in Central America, South America and the Caribbean, except Cuba. Negotiations began right after the completion of NAFTA in 1994 and were supposed to have been completed by January 1, 2005.
• The Latin American Free Trade Association (LAFTA) was created in the 1960 Treaty of Montevideo by Argentina, Brazil, Chile, Mexico, Paraguay, Peru, and Uruguay. The signatories hoped to create a common market in Latin America and offered tariff rebates among member nations
Project 01
• Global Property Guide, “Price of $1 goods in Malaysia,” from http://www.globalpropertyguide.com/Asia/Malaysia/currency-value, accessed Dec 21st, 2009.
• Global Property Guide, “Price of $1 goods in Namibia,” from http://www.globalpropertyguide.com/Asia/Namibia/currency-value, accessed Dec 21st, 2009.
• Gotomanager.com, “ยนสโลคล-อนเตอรทมก ำลงยดหวหำดทกเซกเมนต,” from http://www.gotomanager.com/news/details.aspx?id=47522, accessed Dec 22nd, 2009.
• Indexmundi, “Malaysia – Population,” from http://www.indexmundi.com/malaysia/population.html, accessed Dec 19th, 2009.
• FASHION PRODUCTS, "Fashion Apparel Industry Overview," from http://www.fashionproducts.com/fashion-apparel-overview.html, accessed Dec 20th, 2009.
• NationMaster, “Namibian Industry Statistics,” from http://www.nationmaster.com/country/wa-namibia/ind-industry, accessed Dec 22nd, 2009.
• globalEdge, “Apparel and Textile Industry Trade Statistics,” from http://globaledge.msu.edu/industries/Apparel-and-Textiles/tradestats/, accessed Dec 22nd, 2009.
• Internet World Stats, “African Internet Usage,” from http://www.internetworldstats.com/africa.htm, accessed Dec 22nd, 2009.R
EFER
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Project 02
• References for Asia Data
• http://en.wikipedia.org/wiki/Labor_market_of_Japan
• http://www.researchandmarkets.com/reports/35604
• http://articles.latimes.com/1989-11-12/opinion/op-1956_1_japanese-consumer
• http://www.nytimes.com/1989/10/03/business/prices-of-land-higher-in-japan.html?pagewanted=1
• http://www.tdk.co.jp/csr_e/csr02200.htm
• http://www.isn-inc.com/countryinfo/japan.aspx
• http://www.business.gov.sg/EN/BusinessTopic/HiringNTraining/Recruitment/hiring_recruit_market.htm
• http://www.state.gov/r/pa/ei/bgn/2798.htm
• http://www.moveandstay.com/singapore/guide_lifestyle.asp
• http://www.singaporeexpats.com/guides-for-expats/relocation-to-singapore.htm
• http://www.ustr.gov/sites/default/files/uploads/reports/2007/NTE/asset_upload_file129_10979.pdf
• http://www.ustr.gov/sites/default/files/uploads/reports/2009/NTE/asset_upload_file332_15485.pdf
• http://en.wikipedia.org/wiki/Economy_of_South_Korea
• http://www.korea-is-one.org/spip.php?article876
• http://www.globalpropertyguide.com/Asia/South-Korea/Buying-Guide
• http://www.koreatimes.co.kr/www/news/special/2009/11/275_45991.html
• http://www.moyak.com/papers/south-korea-insurance-market.pdf
• http://www.1stopkorea.com/index.htm?jobs-taxrates.htm~mainframe
• http://www.state.gov/r/pa/ei/bgn/2800.htm
• http://globaledge.msu.edu/countries/china/economy/
• http://www.doingbusiness.org/ExploreEconomies/?economyid=42#EmployingWorkers
• http://www1.china.org.cn/english/2001/Jul/15962.htm
• http://www.boi.go.th/english/how/typical_costs_of_starting_and_operating_a_business.asp
• http://www.doingbusiness.org/ExploreEconomies/?economyid=42#DealingLicensesREF
EREN
CES
Project 02
References for Africa Data
• https://www.cia.gov/library/publications/the-world-factbook/geos/sf.html
• http://www.southafrica.com/ports/cape-town/
• http://fita.org/countries/safrica.html
• http://www.propertyzonedirect.com/reasons_to_invest.php
• http://www.globalpropertyguide.com/Africa/Cape-Verde/rental-income-tax
• https://www.cia.gov/library/publications/the-world-factbook/
• http://www.searates.com
• http://www.globalshippingcosts.com
References for Europe Data
• Minimum wage: http://en.wikipedia.org/wiki/List_of_minimum_wages_by_country
• Attitude towards productivity derived from Hofstede’s dimension description: http://www.geert-hofstede.com/hofstede_dimensions.php
• School life expectancy and life expectancy: https://www.cia.gov/library/publications/the-world-factbook/geos/pl.html, ez.html, it.html, hu.html
• Distances between countries are calculated from http://www.mapcrow.info/
• Large airport availability: https://www.cia.gov/library/publications/the-world-factbook/geos/pl.html, ez.html, it.html, hu.html
• Corporate tax rates: http://fita.org/countries/poland.html, italy.html, czech.html, hungary.html
• Land price per square-meter: http://www.globalpropertyguide.com/Europe/Italy/square-meter-prices
• Country competitiveness rating: http://www.globalpropertyguide.com/Europe/Italy/competitiveness
• Country risk rating, ease of doing business, and corruption perceptions index: http://globaledge.msu.edu/countries/poland/rankings/
• http://globaledge.msu.edu/countries/italy/rankings/
• http://globaledge.msu.edu/countries/czech-rep/rankings/
• http://globaledge.msu.edu/countries/hungary/rankings/REF
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CES
Project 02
References for Latin America Data
• http://www.just-style.com/store/product.aspx?id=79357
• http://findarticles.com/p/articles/mi_m3763/is_n8_v91/ai_11890234
• http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
• http://www.timeanddate.com/worldclock/distance.html
• https://www.cia.gov/library/publications/the-world-factbook/geos/ar.html
• http://www.globalpropertyguide.com/Latin-America/argentina
• https://www.cia.gov/library/publications/the-world-factbook/geos/br.html
• http://www.globalpropertyguide.com/Latin-America/Brazil
• https://www.cia.gov/library/publications/the-world-factbook/geos/co.html
• http://www.globalpropertyguide.com/Latin-America/colombia
• https://www.cia.gov/library/publications/the-world-factbook/geos/ve.html
• http://www.globalpropertyguide.com/Latin-America/Venezuela
REF
EREN
CES