Economics Archives

International Trade Geography: Why Trade Routes Matter

Why do Latin American countries struggle to grow and connect with each other? Why do superpowers want close relations with Malaysia, Singapore, and Indonesia? According to Tim Marshall in Prisoners of Geography, the answer to these questions lies in geography, specifically the geography related to trade routes. He explains how trade routes shape development and why nations compete to secure these routes. Read more to learn the basics of international trade geography with some examples to illustrate the ideas.

The Geography of Energy: How Nations Compete for Fuel

What was behind Imperial Japan’s ambitions? Why are some European nations reluctant to oppose Russia? Journalist Tim Marshall explains how geography shapes how nations interact with one another in his book Prisoners of Geography. He shows how, based on its geography, a nation might need to focus on securing energy resources. Read on to learn about the fascinating geography of energy.

Geography and Climate Change: New Trade Routes & New Fears

How does global warming impact geopolitics? Why are new trade routes both a blessing and a curse? Climate change impacts geography. In turn, geography impacts politics and economics. Tim Marshall discusses this fascinating and important link in his book Prisoners of Geography. Keep reading to understand the connection between geography and climate change.

Will Grocery Inflation End? (+ What’s Causing It)

If inflation is going down, why are food prices still rising? Will the prices ever go down? What’s causing grocery inflation? Americans continue to feel the pain of rising grocery store prices, but food manufacturers appear unlikely to lower them—even as inflation cools and raw materials costs fall. Experts say that food prices will continue to rise through the end of 2023. Below we’ll take a look at the causes of grocery inflation, and predictions for the future.

Geography and Economic Development: How Strong Is the Link?

How much does a nation’s geography impact its economic development? What difference does access to trade routes make? Tim Marshall argues that, much like the starting hand in a card game, the geography of a region determines its economic development. If it’s dealt a naturally winning hand—filled with natural resources and defensible natural boundaries—it’s likely that it will develop into a stable, successful state. Continue reading to understand the link between geography and economic development.

Examples of Geopolitics: Geography Shapes the World Stage

Why does China seek out Africa’s resources? Why have India and Pakistan wanted control of Kashmir? Why has Korea been colonized and invaded so often? Geography shapes the way that nations interact with each other. Tim Marshall explains that, on the international stage, nations use trade, diplomacy, and military force as they vie for access to geographical bounties—troves of resources, trade routes, and defensive features. Read on to find several examples of geopolitics from Prisoners of Geography.

Prisoners of Geography by Tim Marshall: Overview & Takeaways

Why are the economies of Northern Europe stronger than those of Southern Europe? How does global warming impact trade routes? How is Tibet geopolitically important? Prisoners of Geography by Tim Marshall is about how geography shapes the development and politics of nations. Marshall’s aim is to help readers gain a deeper understanding of global politics and conflicts by detailing their geographical underpinnings. Continue reading for an overview of this eye-opening book.

The 5 Factors Affecting the Market’s Competitiveness

What are the factors affecting the market? How does understanding these factors give you a competitive advantage? Five factors influence a market’s competitiveness and profit potential, according to Competitive Strategy by Michael Porter. Although the book was released in 1980, it’s still relevant today. Here are the factors that you need to pay attention to when you enter the market.

The Influence of Suppliers on Marketing & Business Strategies

What’s the role of suppliers in marketing? How much influence do suppliers have over pricing? In Competitive Strategy, Michael Porter explains that suppliers with substantial influence can dictate pricing, product quality, and availability. For example, in the diamond industry, a few large diamond mining companies exert significant influence over jewelry manufacturers and vendors by dictating prices, setting quality standards, and restricting sales. Let’s look at the number of conditions that enhance supplier influence over a market.

The Importance of Consumers & How They Shape the Market

Why is the importance of consumers for a business strategy? What influence do consumers have over a market? According to Competitive Strategy by Michael Porter, influential buyers can impact what businesses offer, their pricing strategies, as well as overall market demand for products and services. For example, in the smartphone market, buyers exert significant influence due to their ability to readily switch brands. Here are the multiple conditions that increase buyer influence over a market.