globalEDGE Blog Podcast

India is currently undergoing extreme inflation. To curb the effects of inflation, which are raising the prices of many food staples for Indian people, the Indian government is placing a ban on the exportation of broken rice, as well as imposing a hefty 20% export duty on any overseas shipments of white and brown rice, which constitute roughly around 60% of India’s total global sales. Along with inflation, poor weather is also contributing to the imposition of this ban.

As the world continues to resurrect itself amidst the pandemic, another tragedy has struck. Hurricane Ian, a category four storm, has ravaged the state of Florida more than anyone expected. A few major cities in the area were warned of the destruction that the storm was expected to bring, including Miami, Fort Myers, Tampa, Atlanta, Jacksonville, and many more. Hurricane Ian caused extensive damage and flooding to the housing and infrastructure as it transformed from a tropical storm to a hurricane. On top of this, the entire eastern end of Cuba was hit, causing 1 million people to lose power. With Hurricane Ian leaving its mark up the eastern coast to South Carolina, the wind damage alone is ranking this as the fifth-strongest storm to hit the United States, tied alongside many others. The size and magnitude of the storm were intense compared to past storms, leaving Florida and bordering states expecting major effects on supply chain functions along the coast.

Fashion has been an age-old expression of culture, style, and art. For two weeks, cities hold fashion shows where they display an array of styles to spread awareness about new arrivals in trends. The primary fashion weeks worldwide are Paris Fashion Week, New York Fashion Week, London Fashion Week, and Milan Fashion Week. Most of these have wrapped up this past week, and Paris Fashion week has just started. To the public it is flashy lights, supermodels, and an influx of new trends, but what does it look like behind the scenes? How does this affect the economy and the environment? Is it worth it?

On top of the societal changes, economic conditions, and pandemic challenges that the world has faced throughout the past few years, countries are being confronted with yet another uphill battle. This time, it is drought, and Europe in particular is becoming an increasingly worrisome victim of this dry spell.

Thanks to U.S. railway unions, the United States has avoided another massive supply chain disruption, but other countries might not be so lucky.

Inflation indicates how the costs of a particular set of goods or services have increased over time, most frequently in terms of a year regardless of the environment. The United States is very familiar with the concept of inflation, as seen by the Federal Reserve addressing what is known to be "the sharpest price surge in 40 years." This inflation is broad with no single condition to blame, as the global recession is forcing higher rates and an increasing debt market.

An energy crisis brewing in Europe could end many businesses and lead to a global supply chain disaster for an already struggling system. Two large industries affected by this will be the metals sector and the agricultural sector. With these significant sectors at risk, European governments are attempting to face this problem every day to see how they may be able to stop this issue as fast as possible.

The Clarion-Clipperton Zone (CCZ) is the most captivating place on earth for deep-sea mining contractors and the electric automotive industry alike. The CCZ is a giant international seabed stretching over 4.5 million kilometers from Hawaii to Mexico. The reason that the CCZ is seen in such high regard is that it is packed with tons of precious metals needed in the battery and electric production field. The only other option to get these resources is through terrestrial mining which is both labor and environmentally inefficient. Many companies are noticing how fruitful this venture is and are investing in it before extraction has been approved by international authorities.

The European Union has recently decided to expand its regulation into U.S. companies that interact with European countries. The most recent example is the blockage of the merging between American company Illumina Inc. and European company Grail Inc. Grail’s technology aims to help detect cancer early through blood testing, which Illumina was looking to accelerate as a leading competitor in genetic variation and function technologies. The blocking of this $7.1 billion acquisition demonstrates the emphasis the EU is putting on extending its power.

As the Ukraine and Russia conflict continues, the surrounding nations are feeling the full effect of the consequences. In retaliation for the European Union's support for Ukraine, Russia is reducing the natural gas supply to most EU countries. As of today, gas is trading at 10 times what it was at this time last year, and as a result, a sense of urgency is arising from many prime ministers that are demanding to address these problems right away.