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international investment trends

By
Gary Scott

Numerous messages last year looked at the risk any nation, person or business faces when the natural forces behind the globalization of the economy are ignored.

Nature seems to abhor vacuums. The world and the universe as we know it seems to be a never-ending process of mixing, blending folding and unfolding. Life is change. Static we cannot be.

When anyone does anything that impedes globalization, a price is paid. 

US efforts against terrorism make it harder on businesses and tourists. This hinders globalization. Whether these efforts slow terrorism or not is unknown. What is known is that the crude approach to rotecting US borders has a negative effect on business and tourism that is extracting a price on the US economy. A recent article in the Miami Herald by Mary Ellen Klas “Capital Watch National security policy creates economic termites in Fla. Basement” supports this contention.

The article says: “As Americans increasingly lose patience with the U.S. involvement in Iraq, tolerance also is wearing thin in Florida for domestic security policies that some say inhibit international trade, tourism and global exchange among students, researchers and business leaders.

“In an unusually candid document, Florida TaxWatch last week released a report, ‘Termites in Florida's Basement: The Economic Impact of National Security Policy on Florida's Economy.’

“The business-backed research group chronicled how changes in immigration and national security policies since Sept. 11, 2001, have put a chilling effect on business development, tourism and even foreign student enrollment in Florida.

“Expect it to be the beginning of a newfound push in the new year by Miami-Dade and state business leaders to get federal officials to ease up on restrictive visa policies. They will urge Congress to better fund offices around the world to eliminate delays in visa applications, and to put pressure on the agency to streamline its operations, said Tony Villamil, chairman of Enterprise Florida's Global Commerce Committee, the international branch of the state's economic development arm.

''We're the gateway to the Americas and if we puts an impediment to the flow of people, that has an impact on everybody,' he said.

“For example, a reduction in the number of non-immigrant visas granted each year has significantly reduced the number of business people who can travel back and forth to Miami to do business,” Villamil said.

“Multinational corporations can't get visas for their executives to travel to South Florida. Trade shows can't get visas for vendors and buyers. The World Trade Center in Miami had to relocate a trade show to Panama City, Panama, so buyers could get to it.

''Business visas are critical to South Florida if we're going to be a globally competitive state,'' Villamil said. “These roadblocks are hurting us.''

“Increased visa restrictions also have hampered universities and research. There has been a 10 percent drop in the number of foreign students studying in the state's colleges and universities from 2001-04, according to the TaxWatch report. TaxWatch estimates indicated that translates into an estimated $100 million lost to the state's economy.”

Yet it is never too late to adjust to change. Problems created by poor US policy create opportunities in other countries

Those who see and accept change are those who enjoy everlasting wealth. US domestic security policy is certainly a change. Look for places (such as Panama-who got the Trade Show mentioned in the article above) that benefit from this change and you can spot trends that will help you become and remain rich!

Until next message, good investing.

Gary

international investment trends
international investment trends

 

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