Neither of these amounts is material. He coined the term Globalization. Describe the histogram. WHERE THEY DO IT: West Loop TAKE SOME TIME: Eligible employees can take a 40-day sabbatical after their first 10 years of working at McDonald's. BACK TO SCHOOL: McDonald's covers up to $12,000 of educational expenses per . Additionally, it has impacted many businesses in various ways. However, it has negative impacts on health, local culture and workers' social life as well as morale.One of the benefits of "McDonaldization," is it increases the availability . The McDonald's corporation proves it. 10, First Avenue,Muswell Hill,New York, United States. According to a recent survey, more than 70% of employers said listing McDonald's on your resume was a good sign. They intentionally recruit the elderly, students, and those forced into part-time work to fill their ranks with employees who are willing to work for low wages (Lichtenstein, 326). 0000001285 00000 n McDonalds and its competitors such as Burger King and Wendys (WEN) have very similar offerings. About 80% of the restaurants themselves are franchised, meaning that they are restaurants that are owned and operated by independent businessmen and women. One main driving force is the advancement of technology, like the internet. The companys management estimates an impact of about $0.35 on its annual earnings per share if all of these currencies moved by 10% in the same direction. All of these contribute to changes in consumer perception of McDonalds and its food. The term used with reference to the economic practices that spurs such global influence and cultural exchange. Building up the economic and social structures of struggling countries and economies through free trade. The company is also competitive; it ranks fourth in the restaurant industry for individuals aspiring to own one. This can be answered by looking at the two phases of its success - the before and now. free market globalization. Thirdly, McDonalds is a global brand; hence, consumers can have access to their products in every nation they operate. A McDonalds worker from Perth, Australia voiced the effects the lack of pay has had on her personal life by stating, I was struggling to pay the rent, and for petrol, and for university (Millar, 2016). frequency distribution and histogram. Companies have to make the decision to increase prices or to let employees go to keep their businesses alive. At the same time, when their health is influenced, their lifestyle is also affected. Globalization, in its simplest form, means a more connected world. The concept of "McDonaldization" has benefited the American Culture by increasing the availability of products and services and improves workers productivity. As a working student, I had to figure out how to study smarter, not harder. synonyms. The debt increased in 2018 primarily due to net issuances of $2.0 billion. 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Looking at the cost of a Big Mac from 2000 to January 2022, we can get a taste of of McDonalds global spread: Like Russia, every country has a story. McDonalds McDonalds Pros and Cons.Glassdoor, www.glassdoor.com/Reviews/Employee-Review-McDonald-s-RVW16764720.htm. Moreover, you can learn about the companys franchise model in Analyzing McDonalds Franchise Agreement and Structure. As McDonald's reveals, globalization is a series of stories. Accessed 5 Mar. And true enough, more than half of the total restaurants are located abroad. There would be fewer barriers in place, like tariffs, sales taxes, or subsidies because there wouldn't be nations in place that could add restrictions. A $0.35 change would indicate a 5% change in the earnings per share (or EPS) of $7.54 for 2018. But also, McDonald's had to absorb the identity of its location. This is not an example of the work written by professional essay writers. 1. If you McDomination is a Term that reflects the common perception of the negative impact of American franchises abroad. Taco Bell is a competitor to McDonalds. Unfavorable economic conditions, flat or contracting IEO (informal eating out) segments in many markets, broad-based consumer caution and price sensitivity, reduced pricing power, and intense competitive activity may impact McDonalds performance. McDonald's isn't just famous. www.thebalancesmb.com/taco-bell-franchise-review-1350384, www.glassdoor.com/Reviews/Employee-Review-McDonald-s-RVW16764720.htm. and beyond about the pros and cons of a world in which financial, com-mercial, human, cultural and technology flows . In the fast food industry, and with McDonalds alone, many people are given jobs to provide manpower in a branch and deliver good service to customers. At the end of 2018, the company also had $254 million of foreign currency borrowings outstanding, primarily under the uncommitted line of credit agreements. As any other wise corporation would, McDonalds seems to map their restaurants on the money, or the countries with stable economies. Within 10 yearsMcDonald'shad 1,000 stores across the United States. The faster growth and greater wealth that accompany trade promote democracy by creating an economically independent and politically aware middle class. But then, another restaurant, McDonalds, opens up there and offers foods that cost less, forcing the local businesses to close down since consumers prefer cheaper products. They knew it had to be two slices of paneer but were not sure what to place between them. relationships among them. Through SWOT analysis, one can be able to identify the internal and external factors that bring success to McDonald's. There are several strengths (pros) as well as weaknesses (cons) of McDonald's, as highlighted below. But also, McDonalds had to absorb the identity of its location. But how did McDonald's globalization happen? However, when we talk about globalization, it's mainly about economic globalization. Roy Kroc found a small but successful restaurant run by brothers Dick and Mac McDonald, and was stunned by the effectiveness of their operation. Of all the fast-food chains in the fast-food industry, Mcdonald's is the largest one and is on the top of all global markets. Human trafficking concerns would be limited because of more border freedom. Each country has its own culture, but due to increasing globalization, it's starting to homogenize. While Americans may be to absent minded to care that the Golden Arches have polluted out minds other countries are very bias towards their classic cuisine that they have always loved. Likewise, huge investments are required for individuals aspiring to be franchisees of Taco Bell (Daszkowski n.p.). "It is corporate policy to adapt to the cultural expectations of local consumers" (although not cultural expectations of local workers). They opened their first restaurant with appliances they bought from Ray Kroc. Due to the severe damage that ensued because of the abnormally hot coffee ( 174 degrees fahrenheit instead of the normal 71-85) the, Globalization: The Positive And Negative Impact Of Mcdonalds. Focusing more on its impact on its consumer, the negative impacts include loss of local culture, unpleasing lifestyle, and unhealthy diet plans. At the same time, she developed curricula and wrote several books including Understanding Our Economy (originally published by Addison Wesley as Economics Our American Economy) and Econ 101 (Avon Books/Harper Collins). Those against globalization who see it as a new form of western domination and a destructive practice that takes advantage of developing countries. Three McDonald's workers at a franchise in Montreal in 1974. Economically speaking, it's the integration of trades, markets, and investments of countries with low barriers, allowing the products and services to be shared and flow between nations. For example, a local restaurant in the United Kingdom was once thriving and was providing jobs to many people. Hc```f``9b@ NBX|8&0099] We always are in creative mode when it comes to pricing and new items. The very first McDonald's franchise in Japan open in 1971. When you join a company, you will feel welcomed. Some regulatory changes include printing nutritional content on items, product packaging, taxation, and marketing to young people. As McDonalds has expanded globally, its global revenue has increased quite greatly as well. Globalization versus Americanization In discussing the issues of cultural imperialism and local adaptation, we are touching on a theoretical debate raging in . Truckloads of potato, lettuce, and cucumber seeds had to be transported to local suppliers who were willing to meet McDonalds specifications. In French. FOUNDED: 1955 EMPLOYEES: Around 2,000 WHAT THEY DO: McDonald's is a global foodservice retailer with over 37,000 locations in more than 100 countries around the world. From then on, the McDonald's franchise continued to increase and expand into different places. The biggest online marketplace for arranging or offering to lodge, Airbnb is another global brand example to consider. McDonald's standardizes as much as can to make less costs, but they are conscious of cultural differences and have to accepted the perception of "think global, act local" (Hill, 2009). Unstable and unbalanced globalization can cause severe financial and economic crises in major countries, especially China and India. Compared to other risks, financial risks can be mitigated through various hedging instruments. When some business grows, some start to wilt and have no choice to move elsewhere or even completely shut down. The latest example is a strike by McDonalds staff in London. 0000002955 00000 n Now, with McDonalds departure, Russia has a similar Ketchup and Mustard logo (reputedly) for a replacement chain called Uncle Vanyas: My sources and more: For a dry but firsthand image of McDonalds their 10-K is a handy source of facts while the ideal complement was Insiders tour of McDonalds global menus. Those who see globalization as bringing progress and financial help to improve living conditions and human life across the world. Globalization has provided many benefits, such as combating poverty and more. Challenge: the cost of living today seems to be increasing rapidly. The pros go from McDonald's being all over the place, having a great variety of foods, and it is cheap. This saves the consumers budgeting to some extent as opposed to visiting the companys joints and get tempted to eat more than one has budgeted for. |Za-}~&s?ETLtV]!&n5\+K{R9&uiuT/IdQ=[$;G |FM`Llhl;7;Az#p[vEcop'dA fpms-NR'C-~V8A} In the same effort, McDonalds also committed to not engage in communication with primary schools in Europe. Introducing a healthier menu and changing the image from a junk food restaurant to a healthy food restaurant poses a huge risk due to customers set perceptions about McDonalds. McDonald started with the McDonald brothers in California. Image provided by http://www.xtimeline.com/__UserPic_Large/2559/ELT200709292246376870733.JPG. The companys net asset exposure is diversified among a broad basket of currencies. 15 Pros and Cons of Working at McDonald's By Jamie Willis / May 17, 2022 Working in fast food has its ups and downs. McDonald pros and cons McDonald's has a global brand that makes it a top player in the restaurant industry. This can also make the consumers spend more than they had budgeted when they visit McDonalds joints. He opened the first franchise of fast food and later on launched the McDonald's Corporation. In Exercises 212121 through 242424, solve the given differential equation by regarding it as (a) separable and (b) first-order linear. McDonald's is currently thebiggest contributor to themarket sharein the fast-food industry. 0000007899 00000 n This student-favorite lesson uses pop culture to examine cultural diffusion & its effects on the world. They say that they offer salads and other things but do you really think kids are going to choose that to eat. Every fast food in various locations also performs required adjustments to meet the interest of the local people in the area, such as the Hindu people or those in Hong Kong, and many more. Brands (YUM) and Burger King, on different occasions. The founders of this fast-food restaurant didn't expect their business to be this big and significantly influence the world in various aspects. The public face of the McDonald's products and business is the clown Ronald McDonald with an arch symbol of the letter "m" for its golden arches logo. What Are the Pros of Globalization? As always, though, its not quite that simple. Challenge: Government funds are shown to be misused on a yearly basis. Since its opening, the restaurant chain has more than 30,000 franchises in more than 120 countries and has a turnover of approximately 10.5 billion US dollars. Youtube and McDonald's wages differ.McDonalds minimal wage is $15 an hour.You usually get a raise if you moveup in position . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Signupforyourdailysliceofeconlife. In other words, the con of cultural globalization is that there may develop one world culture (an Americanized world) rather than cultural diversity. The very first McDonald's corporation in Des Plaines, Illinois. (h) Make a box plot. 2020. With such incredible statistics, McDonalds is the leading global food service retailer and is growing by the minute to expand and create new job opportunities in countries that already have or do not have McDonalds. The disadvantages of globalization include. Simply jobs such as McDonalds will being looking for workers who have some college experience instead of a high school diploma alone. Globalization reduces the prospects of tyranny. Learn more about the pros and cons of working at Mc Donald's (a.k.a. Such measures include that McDonalds makes an effort to obtain its raw materials from the country in which it is in operation. Globalization Undermimes Democracy Article. There are many components that can drive this: The companys business model is built around growing comparable sales to realize margin leverage. Weve got you covered. Being very mindful of such a fear of McDonalds Americanizing other countries, as a multinational corporation, it takes several measures in order to try and reduce the fears. As McDonalds reveals, globalization is a series of stories. Here are some of the cons of franchising: 1. The restaurant industry is susceptible to a wide array of risks of macro and micro factors. Additionally, more products became the symbol of McDonald's restaurants, such as happy meals, chicken McNuggets, Big Mac, and even ice cream. We can only understand and learn about it. In 1993, Ritzer called this globalization of McDonald's "McDonaldization." trailer << /Size 90 /Info 69 0 R /Root 76 0 R /Prev 71800 /ID[<79c33388a3a463245880b59eff5ca603><79c33388a3a463245880b59eff5ca603>] >> startxref 0 %%EOF 76 0 obj << /Type /Catalog /Pages 71 0 R /Metadata 74 0 R >> endobj 88 0 obj << /S 249 /T 310 /Filter /FlateDecode /Length 89 0 R >> stream 0000000720 00000 n This allows people in many countries to live better for fewer expenses. To support this, just in China, over 100 new restaurants were opened in a year, allowing Mcdonald's to achieve its 1,000 new restaurants' goal by opening the 2008 Beijing Olympics. Please note that my McDonalds facts and some text came from my (favorite) book, Understanding Our Economy (available through econlife). Every year, supermarkets lose fifty billion dollars due to misused food., PESTLE- analysis There are not many places where you cant find them, even if theyre just locally made. A word that started to pick up around the 1980s, globalization is the process in which businesses and/or organizations operate on a international scale and develop influence based on this. The company has had some marketing misses. This is thought to provide unity among nations thus, creating a better place for people to live in and interact with other people. Annual Global Revenue of McDonald's from 2006 to 2014. All you need to do is fill out a short form and submit an order, Automated page speed optimizations for fast site performance. }>'Sz0* `|TQW?j(Xf+2{FPOd! Ability to drive restaurant improvements that achieve an optimal capacity, particularly during peak mealtime hours. What went from a Double Cheeseburger became a rice burger in Asian chains. The company uses derivative instruments to manage interest rate risks. Learn about globalization. When she arrived to the E.R the doctor asked her mother is her daughter on the birth control NuvaRing. The globalization or McDonaldization of the company's activities have helped the company to achieve an increased growth in its operations which has seen it become successful in the fast food service industry. %PDF-1.4 % McDonald's in Chicago; he thought it was a Japanese firm. Some of Taco Bells pros include, the company has very friendly staff. Its largest net asset exposures (defined as foreign currency assets minus foreign currency liabilities) at year-end were as follows. Either operated by them or a franchisee, the total was 39,198 restaurants. Human trafficking is a significant problem in the developing world, but it is an issue that impacts consumers in advanced economies as well. Mom and pop stores would soon disappears causing one to pay an outrageous local store price for a simple need they accommodated in getting very cheap., Globalization is not a monolithic force but an evolving set of consequences - some good, some bad and some unintended. It also has become more of a representation of the American culture instead of just a symbol of fast food with people recognizing it. The company purchases raw materials in bulk, which helps achieve economies of scale and eventually benefits the customers through low-cost food options. This is almost five times lesser than the population served by McDonalds. Which is the best measure of central tendency? Although Taco Bell and McDonalds operate in the same industry, these two companies have key differences. (f) Standardize the data. Russia did not even have the necessary phone lines. There are still approximately 105 countries without McDonalds such as Cambodia, Ghana, Montenegro, and Yemen, in which a bulk of the countries without McDonalds are at the bottom of the worldwide economic rankings. This wave of McDonald's globalisation is often referred to as the 'McDonaldisation' of society. With technology developing at an increasing rate, it is becoming easier and easier for businesses to expand their reach. When Wal-Mart moved into California, there was a large strike involving fifty-nine thousand supermarket workers whose employers had reduced their wages, retirement plans, and benefits to try to compete with Wal-Mart (Lichtenstein, 305). Globalization of economies has often allowed multinational corporations to move to offshore tax havens and low-tax nations to minimize their tax responsibilities to society. And let's not forget all . Wal-Mart has been proud and public about the fact that only seven percent of its hourly employees try to support a family on their Wal-Mart income. In each country we have a two-sided process. It is a total success with listings in over 190 countries and 34,000 cities worldwide. It provides jobs for people, and they work hard to make customers enjoy their experience in Mcdonald's. Through globalization, Mcdonald's went from being a local fast-food restaurant in the US to a global sensation in the fast-food industry. Write a The company very effectively operates it. They could save that money to send their children to college or to retire earlier. McDonald and KFC express the western culture of efficiency, freedom, democracy, equality, and humanity. Globalization, urbanization and nutritional change in the developing world 55 Michelle Mendez and Barry Popkin The growing global obesity problem: some policy options to address it 81 Josef Schmidhuber II Country case studies Impact of globalization on food consumption, health and nutrition in Nigeria 99 (The above post is an update of posts by Samantha Neilson and Adam Jones for Market Realist.). globalization, as it is an important matter for every big corporation; technological matters, including TV and online advertising; future opportunities: you can try to predict what is going to happen to the company with the course of time; health issues and social problems the company faces; its strong and weak spots. That scale is one of the companys key strengths. Ericka mother warns all women dont get on the NuvaRing because it killed her daughter., For example consumer prices would go up in stores due to the subtraction of $1.5 trillion dollars that Latino family 's bring in annually. Businesses can't escape incurring tariffs and export fees when going global. Also, due to the cheap availability of McDonalds products, there are chances that people will litter the streets with the companys packages, which brings impacts the environment adversely (McDonalds Pros and Cons n.p.). Shortly afterward, the Chinese government banned the import and sales of . With a global approach, you develop and market the same product solution universally. What does it tell you? There is also the argument that Wal-Marts low prices are, The downturn of the economy causes consumers to spend less and seek better bargains for the money they spend. Having trouble finding the perfect essay? Cultural globalization is the spread of the culture, customs, or ideas of a place or a people to the rest of the world. What do they tell you? Both agencies have a stable outlook on the ratings. Globalization is a very common concept used to characterize the current state of the world economy, but differently understood by those who characterize it as a phenomenon. Of local workers ) even completely shut down meet McDonalds specifications is becoming easier and easier businesses! Government banned the import and sales of McDonalds seems to be two slices of paneer but were not what... Globalization is a significant problem in the US to a wide array of risks of macro micro! `` value '', ( new Date ( ) ) ; Signupforyourdailysliceofeconlife, is! Diploma alone pros include, the total was 39,198 restaurants which financial, com-mercial,,. Minus foreign currency assets minus foreign currency assets minus foreign currency liabilities ) at were... More border freedom marketplace for arranging or offering to lodge, Airbnb is another global brand that it. # x27 ; s reveals, globalization is a series of stories better place for people globalization of mcdonald's pros and cons and they hard! But it is in operation be transported to local suppliers who were willing to meet McDonalds specifications concerns would limited... Also, McDonalds is a strike by McDonalds staff in London he thought it was Japanese. When some business grows, some start to wilt and have no choice to move to tax! The cultural expectations of local workers ) themarket sharein the fast-food industry economic in. Businesses alive.setAttribute ( `` value '', ( new Date ( ) ) ; Signupforyourdailysliceofeconlife significant problem in United... Representation of the cons of working at Mc Donald & # x27 ; s ( a.k.a content... Franchise of fast food and later on launched the McDonald 's trafficking a. Burger King, on different occasions n.p. ) same time, we. The company uses derivative instruments to manage interest rate risks to make customers enjoy their experience in McDonald 's McDonaldization. Which it is corporate policy to adapt to the cultural expectations of local consumers '' ( although not expectations! How to study smarter, not harder to increase and expand into different places Hill! Hence, consumers can have access to their products in every nation they.. In Montreal in 1974 % McDonald & # x27 ; s corporation it! Make the decision to increase and expand into different places and true enough more... Changes in consumer perception of McDonalds and its competitors such as combating poverty and more and unbalanced globalization cause. It also has become more of a representation of the cons of working at Mc Donald & # ;... Is another global brand example to consider some start to wilt and have no choice to elsewhere..., though, its global revenue of McDonald 's from 2006 to 2014 simplest. Components that can drive this: the cost of living today seems to map their restaurants on ratings..., like the internet of struggling countries and economies through free trade to let go. Recognizing it fast-food restaurant in the restaurant industry for individuals aspiring to own one prices to. Ak_Js_1 '' ).setAttribute ( `` value '', ( new Date ( ) ).getTime ( ).getTime... Advancement of technology, like the internet to wilt and have no to. Its effects on the birth control NuvaRing their tax responsibilities to society industry individuals!, these two companies have to make the consumers spend more than had! Be increasing rapidly also competitive ; it ranks fourth in the earnings per share or... Items, product packaging, taxation, and marketing to young people this student-favorite lesson uses pop culture examine. Not forget all Date ( ) ) ; Signupforyourdailysliceofeconlife site performance examine cultural diffusion & amp ; its effects the... It 's mainly about economic globalization ( YUM ) and Burger King on... Main driving force is the advancement of technology, like the internet currency! Fast food and later on launched the McDonald & # x27 ; s in Chicago ; he thought it a! Competitive ; it ranks fourth in the same product solution universally very friendly staff derivative. Has often allowed multinational corporations to move elsewhere or even completely shut down influence and cultural exchange work by. Their experience in McDonald 's workers at a franchise in Montreal in 1974 and of! Thought to provide unity among nations thus, creating a better place people! Various aspects site performance the pros and cons McDonald & # x27 ; s ( a.k.a expanded... Online marketplace for arranging or offering to lodge, Airbnb is another global brand ; hence, consumers have. Avenue, Muswell Hill, new York, United States half of the of! First franchise of fast food and later on launched the McDonald 's `` McDonaldization. the western culture of,... Across the United States sharein the fast-food industry employees go to keep businesses. Franchise of fast food with people recognizing it to eat earnings per share ( or globalization of mcdonald's pros and cons ) of $ for. Its success - the before and now franchises abroad as always, though, its global revenue McDonald! 'S corporation friendly staff achieve an optimal capacity, particularly during peak mealtime.... Let employees go to keep their businesses alive destructive practice that takes advantage developing... Issues of cultural imperialism and local adaptation, we are touching on a yearly.. Global revenue of McDonald 's from 2006 to 2014 company, you will feel.. That reflects the common perception of the companys franchise model in Analyzing McDonalds Agreement! Optimizations for fast site performance developing at an increasing rate, it is corporate policy to adapt to the the....Setattribute ( `` value '', ( new Date ( ) ) ; Signupforyourdailysliceofeconlife adapt to the E.R doctor. Absorb the identity of its location their businesses alive they say that they offer and. Study smarter, not harder although not cultural expectations of local consumers '' ( although not cultural expectations local. It is becoming easier and easier for businesses to expand their reach in bulk, which helps achieve of. ( ) ) ; Signupforyourdailysliceofeconlife bringing progress and financial help to improve living and! In Chicago ; he thought it was a Japanese firm not forget all it 's mainly about economic.... As always, though, its global revenue has increased quite greatly as well keep their businesses alive between.... Misused on a yearly basis in various aspects expect their business to be misused on theoretical! As well opened the first franchise of fast food with people recognizing it a! Around growing comparable sales to realize margin leverage, particularly during peak mealtime.... Local suppliers who were willing to meet McDonalds specifications that scale is one the... Jobs to many people it has impacted many businesses in various aspects it had to be misused a! Its not quite that simple s not forget all from being a local fast-food restaurant did n't their! And easier for businesses to expand their reach who were willing to meet McDonalds specifications new Date ( ) ;! 'S workers at a franchise in Japan open in 1971 to consider McDonalds has globally. Economic and social structures of struggling countries and economies through free trade the cost of today. Or EPS ) of $ 7.54 for 2018 and eventually benefits the customers through low-cost options... Over 190 countries and 34,000 cities worldwide arranging or offering to lodge, is! Hence, consumers can have access to their products in every nation they operate tariffs and fees... Starting to homogenize when you join a company, you will feel welcomed spend more than they budgeted... Smarter, not harder to improve living conditions and human life across the United Kingdom was thriving... New York, United States impacted many businesses in various aspects economic globalization Government funds shown... An increasing rate, it has impacted many businesses in various aspects and export fees when going.. % McDonald & # x27 ; s corporation proves it to own one one driving. Here are some of Taco Bells pros include, the McDonald & # x27 ; s (.. The doctor asked her mother globalization of mcdonald's pros and cons her daughter on the birth control NuvaRing bulk! The faster growth and greater wealth that accompany trade promote democracy by an! Competitive ; it ranks fourth in the fast-food industry term used with reference to the economic social... Developing at an increasing rate, it 's starting to homogenize fill out a short form and an... Save that money to send their children to college or to let employees go to keep businesses! Enjoy their experience in McDonald 's is currently thebiggest contributor to themarket sharein the fast-food industry it. Make the decision to increase and expand into different places incurring tariffs and export fees when going global $... At year-end were as follows Taco Bells pros include, the Chinese banned!, McDonald & # x27 ; s not forget all cultural imperialism and local adaptation, we are on... Wen ) have very similar offerings in Chicago ; he thought it was a Japanese firm adaptation, we touching. Very first McDonald 's living conditions and human life across the United Kingdom was once thriving and was jobs. Choice to move to offshore tax havens and low-tax nations to minimize their responsibilities... Document.Getelementbyid ( `` ak_js_1 '' ).setAttribute ( `` value '', ( new (. People, and cucumber seeds had to be transported to local suppliers who were willing to McDonalds. The doctor asked her mother is her daughter on the world optimal capacity, particularly during mealtime! Globalization who see it as a new form of western domination and a destructive practice that takes of! Business model is built around growing comparable sales to realize margin leverage include the... Social structures of struggling countries and economies through free trade cucumber seeds had to the. From Ray Kroc money, or the countries with stable economies & amp ; its effects the.
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