April 2003 Edition
BEER
Boasting nearly 30 brewery locations, Nigeria has emerged as the largest beer producing country in Africa. The continent's 8,000 year brewing history began with ancient Egyptian commercial brewing dynasties and still includes handmade tribal beers.
EDUCATION
Canadians now hold the highest percentage of university degrees and college diplomas among the 30 countries of the Organization for Economic Co-operation and Development. 41 per cent of the working-age population hold a degree or diploma. That is followed by 37 per cent in the U.S. and 36 per cent in Ireland.
JAPAN
Canadian exporters of building products to Japan should be aware of new regulations to take effect on July 1, 2003, that impose new testing and certification requirements for volatile organic compounds (VOCs). The new regulations will cover indoor panels, as well as built-in cabinets but not interior trim such as moulding, hand-rails and door jams. Laminate and composite flooring are also regulated.
NUPTIALS
Unemployment and substantial tax rises have transformed Germany into a frugal nation. Now, cash-strapped German couples are being offered bargain "package marriages" by a discount supermarket chain. For $3,000, the deal includes the service, at a choice of locations, with 18 guests, a champagne reception and hotel accommodation for the bride and groom. A mass produced dress and honeymoon are available for a modest additional fee. 400,00 couples marry in Germany each year.
CHINA
According to the Far Eastern Economic Review, China is moving slowly but surely to extend its influence in East Asia, armed with a vibrant economy and a new stealth weapon in the shape of concessionary trade. The core strategy is to build closer ties with developing regional economies by exploiting agreements such as that between China and the Association of Southeast Asian Nations or ASEAN, to set up a free-trade area by 2010, as well as older preferential tariff pacts and even old-fashioned counter trade with countries such as Indonesia.
AGE
Over the past 50 years, the median age of the world's population has increased by a mere three years, from 23.6 in 1950 to 26.4 in 2000. (The median marks the point where half the population is older than that age and half is younger). But over the next 50 years, the median age will jump to 37, according to United Nations projections. By 2050, 17 developed countries are expected to have a median age of 50 or more.
PRICES
Reflecting continuing concerns over the direction of the U.S. economy, consumers are twice as likely to consider price as a reason for purchasing a brand-name product as they were a year ago, according to a survey by the Grocery Manufacturers of America. However, quality is still the number one reason people purchase their favourite brands (26 per cent) followed by the familiarity factor (23 per cent).
COLD
Thompson, Manitoba, a small community 780 kilometres north of Winnipeg has become one of North America's biggest centres for cold weather vehicle testing. Manufacturers of trucks, cars, and ski-doos have been flocking to Thompson drawn by the frigid temperatures that regularly fall below minus 30 C --a crucial threshold for vehicle testing. Several mild winters in recent years have driven millions of dollars' worth of vehicle-testing business from traditional locations in Minnesota and Northern Michigan.
JOJOBA
This nut oil, widely used in shampoos, beauty creams and cosmetics, powers engines just as well as diesel fuel, but with far less pollution, according to scientists. The jojoba matches diesel for torque and power over engine speeds between 1,000 and 2,000 revolutions per minute and the engine ran more quietly. Jojoba contains less carbon than fossil fuels and unlike diesel it contains no sulphur.
REMITTANCES
One segment of the economy which has been surprisingly robust over the last few years is that of remittances by Latin American "guest workers." The Inter-American Development Bank reports that remittance payments to Latin America and the Caribbean topped US$32-billion during 2002, up from US$23-billion for 2001 and a 60 per cent increase since 2000. Mexico is the leading recipient followed by Brazil and Colombia.
STRENGTH
A researcher at the University of British Columbia has developed a spray to strengthen bridges. He has synthesized a mixture of fibres and plastics that absorb stress better and last longer than traditional reinforcements. The coating doubles the load-carrying capacity of overpasses and triples their resistance to earthquakes. The technology is applied quickly with a high-pressure hose so traffic disruptions and labour costs are kept to a minimum.
E-MAIL
Every day, 10-billion spam e-mails are sent. This is expected to grow 30-billion a day by 2005. There is 25 times more spam now than at the start of 2002. In a recent experiment, it took just 540 seconds for a new e-mail account to receive its first spam. In the US, spam now accounts for 37 per cent of all e-mail. Up to 90 per cent of all junk mail is sent by 150 spammers. One Detroit spammer has 190 e-mail servers in his basement that can spew out 650,000 spams an hour.
SURVEYS
The U.S.-Canada Partnership for Growth has released the results of a survey which shows a lack of awareness among Americans about the importance of the trading relationship with Canada. Only 12 per cent knew that Canada was the largest buyer of American goods and services. Only one per cent of Americans surveyed knew that Canada is the leading source of oil and natural gas for the U.S market. The U.S. and Canada form the largest trading relationship in the world generating almost US$500-billion in two-way trade annually.
COLDS
New research shows that the common cold costs the Canadian economy roughly US$6-billion a year. The study suggests that the cold is a bigger economic burden than far more serious medical conditions such as asthma, emphysema or heart failure. In the U.S. the price tag came to almost US$40-billion, including US$17-billion in direct costs and US$22.5-billion in indirect costs. It is estimated that there are 500-million colds each year in the U.S., about 1.5 per person.
TIME
In a bizarre mass-malfunction, Venezuela's clocks are ticking too slowly due to a power shortage weakening the electric current nationwide. By the end of each day, the sluggish time pieces are behind by another 150 seconds. The meltdown has taken a total of 14 hours and 36 minutes from Venezuela's clocks over the past 13 months.
TOURISM
Bermuda, the picturesque Atlantic island famous for its pink beaches, has admitted using pictures shot in other locales in tourism advertisements. Three photographs in the advertising campaign were stock images that were shot in Hawaii, the Seychelles and Florida. Stock shots are often used in advertising campaigns to save money.
TRADE
The U.S. recorded a US$435-billion trade deficit for 2002, the largest imbalance in history. This was up 21.5 per cent over 2001. Even in agricultural products, normally a U.S. bulwark, Americans bought more imported wine, cheese and other foods than American farmers were able to sell abroad, resulting in only the second U.S. trade deficit in agricultural products on record. For the third year running, the US ran up its largest trade gap with China, a deficit of over US$103-billion.
FUR
Fur garments are back, according to The Fur Information Council of America which represents fur retailers and makers. They claim that close to 400 fashion designers now use fur in their collections. A decade ago, fewer than 50 designers worked with fur.
SHOPPING
The debate over which entrance grocery shoppers prefer is still open, but a new study by an in-store market research firm suggests that right-entry stores actually promotes longer shopping trips. An audit of 100 stores in six major areas in the U.S. revealed that shoppers have a definite preference to travel counter-clockwise around the store's perimeter. In stores with an entrance on the left side, shoppers were forced to move clockwise opposite to their natural inclination, and as a result, abandoned their trips sooner than in right entry stores.
EXCISE
The Canadian jewellery industry is upset that the federal government failed, in the last budget, to remove a hidden 10-per cent excise tax on jewellery. It is estimated that Ottawa collects $70- to $80- million a year from consumers who must pay the tax when they purchase jewellery.
CONTROL
U.S. experts in heating, ventilation and air-conditioning (HVAC) acknowledge what millions of workers have suspected all along. A lot of office thermostats are fake, meant to dupe you into thinking you've altered the office weather conditions. HVAC technicians sometimes install dummy thermostats to give workers the illusion of control. In some leased buildings, even the corporate tenants don't know the thermostats are useless.
LUNCH
As recently as 1978, lunch in France lasted on average one hour and 22 minutes. But the weekday lunch is dying. Now it is down to only 38 minutes and the French have become the second biggest sandwich eaters in Europe after the British. The 35-hour week, although slowly being relaxed by the government, has forced people to do more in the fewer hours they are at work.
INNOVATION
According to Statistics Canada, Canada's 30-year experiment with innovative and flexible work practices has not improved employee loyalty in the manufacturing sector. However, the story changes in the service sector where the study found that companies with highly skilled workers experienced less turnover when alternative work conditions were offered.
CRIME
According to Ernst & Young more than two-thirds of companies around the world admit to being victimized by corporate crime. 85-per cent were perpetrated by employees.
GARDENING
Gardening has recently been described as the "ultimate danger sport" in Britain with injuries increasing by almost half in five years. Most involved the use of ladders or power tools. According to the latest data, one in five of all domestic fatalities, and one in five of all accidents, now occur in or around the garden. Last year, 62,500 adults needed hospital treatment following a gardening mishap.
HEARTBREAKING
A Japanese woman's automatic rice cooker changed the settings on her pacemaker. Doctors doing a routine check up were baffled to find that the hi tech pumping device they had implanted in the woman, 60, had been remotely adjusted. They contacted the manufacturer, who visited her home and found that a rogue rice cooker had somehow beamed signals to the device.
Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.
Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp
Boasting nearly 30 brewery locations, Nigeria has emerged as the largest beer producing country in Africa. The continent's 8,000 year brewing history began with ancient Egyptian commercial brewing dynasties and still includes handmade tribal beers.
EDUCATION
Canadians now hold the highest percentage of university degrees and college diplomas among the 30 countries of the Organization for Economic Co-operation and Development. 41 per cent of the working-age population hold a degree or diploma. That is followed by 37 per cent in the U.S. and 36 per cent in Ireland.
JAPAN
Canadian exporters of building products to Japan should be aware of new regulations to take effect on July 1, 2003, that impose new testing and certification requirements for volatile organic compounds (VOCs). The new regulations will cover indoor panels, as well as built-in cabinets but not interior trim such as moulding, hand-rails and door jams. Laminate and composite flooring are also regulated.
NUPTIALS
Unemployment and substantial tax rises have transformed Germany into a frugal nation. Now, cash-strapped German couples are being offered bargain "package marriages" by a discount supermarket chain. For $3,000, the deal includes the service, at a choice of locations, with 18 guests, a champagne reception and hotel accommodation for the bride and groom. A mass produced dress and honeymoon are available for a modest additional fee. 400,00 couples marry in Germany each year.
CHINA
According to the Far Eastern Economic Review, China is moving slowly but surely to extend its influence in East Asia, armed with a vibrant economy and a new stealth weapon in the shape of concessionary trade. The core strategy is to build closer ties with developing regional economies by exploiting agreements such as that between China and the Association of Southeast Asian Nations or ASEAN, to set up a free-trade area by 2010, as well as older preferential tariff pacts and even old-fashioned counter trade with countries such as Indonesia.
AGE
Over the past 50 years, the median age of the world's population has increased by a mere three years, from 23.6 in 1950 to 26.4 in 2000. (The median marks the point where half the population is older than that age and half is younger). But over the next 50 years, the median age will jump to 37, according to United Nations projections. By 2050, 17 developed countries are expected to have a median age of 50 or more.
PRICES
Reflecting continuing concerns over the direction of the U.S. economy, consumers are twice as likely to consider price as a reason for purchasing a brand-name product as they were a year ago, according to a survey by the Grocery Manufacturers of America. However, quality is still the number one reason people purchase their favourite brands (26 per cent) followed by the familiarity factor (23 per cent).
COLD
Thompson, Manitoba, a small community 780 kilometres north of Winnipeg has become one of North America's biggest centres for cold weather vehicle testing. Manufacturers of trucks, cars, and ski-doos have been flocking to Thompson drawn by the frigid temperatures that regularly fall below minus 30 C --a crucial threshold for vehicle testing. Several mild winters in recent years have driven millions of dollars' worth of vehicle-testing business from traditional locations in Minnesota and Northern Michigan.
JOJOBA
This nut oil, widely used in shampoos, beauty creams and cosmetics, powers engines just as well as diesel fuel, but with far less pollution, according to scientists. The jojoba matches diesel for torque and power over engine speeds between 1,000 and 2,000 revolutions per minute and the engine ran more quietly. Jojoba contains less carbon than fossil fuels and unlike diesel it contains no sulphur.
REMITTANCES
One segment of the economy which has been surprisingly robust over the last few years is that of remittances by Latin American "guest workers." The Inter-American Development Bank reports that remittance payments to Latin America and the Caribbean topped US$32-billion during 2002, up from US$23-billion for 2001 and a 60 per cent increase since 2000. Mexico is the leading recipient followed by Brazil and Colombia.
STRENGTH
A researcher at the University of British Columbia has developed a spray to strengthen bridges. He has synthesized a mixture of fibres and plastics that absorb stress better and last longer than traditional reinforcements. The coating doubles the load-carrying capacity of overpasses and triples their resistance to earthquakes. The technology is applied quickly with a high-pressure hose so traffic disruptions and labour costs are kept to a minimum.
Every day, 10-billion spam e-mails are sent. This is expected to grow 30-billion a day by 2005. There is 25 times more spam now than at the start of 2002. In a recent experiment, it took just 540 seconds for a new e-mail account to receive its first spam. In the US, spam now accounts for 37 per cent of all e-mail. Up to 90 per cent of all junk mail is sent by 150 spammers. One Detroit spammer has 190 e-mail servers in his basement that can spew out 650,000 spams an hour.
SURVEYS
The U.S.-Canada Partnership for Growth has released the results of a survey which shows a lack of awareness among Americans about the importance of the trading relationship with Canada. Only 12 per cent knew that Canada was the largest buyer of American goods and services. Only one per cent of Americans surveyed knew that Canada is the leading source of oil and natural gas for the U.S market. The U.S. and Canada form the largest trading relationship in the world generating almost US$500-billion in two-way trade annually.
COLDS
New research shows that the common cold costs the Canadian economy roughly US$6-billion a year. The study suggests that the cold is a bigger economic burden than far more serious medical conditions such as asthma, emphysema or heart failure. In the U.S. the price tag came to almost US$40-billion, including US$17-billion in direct costs and US$22.5-billion in indirect costs. It is estimated that there are 500-million colds each year in the U.S., about 1.5 per person.
TIME
In a bizarre mass-malfunction, Venezuela's clocks are ticking too slowly due to a power shortage weakening the electric current nationwide. By the end of each day, the sluggish time pieces are behind by another 150 seconds. The meltdown has taken a total of 14 hours and 36 minutes from Venezuela's clocks over the past 13 months.
TOURISM
Bermuda, the picturesque Atlantic island famous for its pink beaches, has admitted using pictures shot in other locales in tourism advertisements. Three photographs in the advertising campaign were stock images that were shot in Hawaii, the Seychelles and Florida. Stock shots are often used in advertising campaigns to save money.
TRADE
The U.S. recorded a US$435-billion trade deficit for 2002, the largest imbalance in history. This was up 21.5 per cent over 2001. Even in agricultural products, normally a U.S. bulwark, Americans bought more imported wine, cheese and other foods than American farmers were able to sell abroad, resulting in only the second U.S. trade deficit in agricultural products on record. For the third year running, the US ran up its largest trade gap with China, a deficit of over US$103-billion.
FUR
Fur garments are back, according to The Fur Information Council of America which represents fur retailers and makers. They claim that close to 400 fashion designers now use fur in their collections. A decade ago, fewer than 50 designers worked with fur.
SHOPPING
The debate over which entrance grocery shoppers prefer is still open, but a new study by an in-store market research firm suggests that right-entry stores actually promotes longer shopping trips. An audit of 100 stores in six major areas in the U.S. revealed that shoppers have a definite preference to travel counter-clockwise around the store's perimeter. In stores with an entrance on the left side, shoppers were forced to move clockwise opposite to their natural inclination, and as a result, abandoned their trips sooner than in right entry stores.
EXCISE
The Canadian jewellery industry is upset that the federal government failed, in the last budget, to remove a hidden 10-per cent excise tax on jewellery. It is estimated that Ottawa collects $70- to $80- million a year from consumers who must pay the tax when they purchase jewellery.
CONTROL
U.S. experts in heating, ventilation and air-conditioning (HVAC) acknowledge what millions of workers have suspected all along. A lot of office thermostats are fake, meant to dupe you into thinking you've altered the office weather conditions. HVAC technicians sometimes install dummy thermostats to give workers the illusion of control. In some leased buildings, even the corporate tenants don't know the thermostats are useless.
LUNCH
As recently as 1978, lunch in France lasted on average one hour and 22 minutes. But the weekday lunch is dying. Now it is down to only 38 minutes and the French have become the second biggest sandwich eaters in Europe after the British. The 35-hour week, although slowly being relaxed by the government, has forced people to do more in the fewer hours they are at work.
INNOVATION
According to Statistics Canada, Canada's 30-year experiment with innovative and flexible work practices has not improved employee loyalty in the manufacturing sector. However, the story changes in the service sector where the study found that companies with highly skilled workers experienced less turnover when alternative work conditions were offered.
CRIME
According to Ernst & Young more than two-thirds of companies around the world admit to being victimized by corporate crime. 85-per cent were perpetrated by employees.
GARDENING
Gardening has recently been described as the "ultimate danger sport" in Britain with injuries increasing by almost half in five years. Most involved the use of ladders or power tools. According to the latest data, one in five of all domestic fatalities, and one in five of all accidents, now occur in or around the garden. Last year, 62,500 adults needed hospital treatment following a gardening mishap.
HEARTBREAKING
A Japanese woman's automatic rice cooker changed the settings on her pacemaker. Doctors doing a routine check up were baffled to find that the hi tech pumping device they had implanted in the woman, 60, had been remotely adjusted. They contacted the manufacturer, who visited her home and found that a rogue rice cooker had somehow beamed signals to the device.
Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.
Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp
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