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worldwide employment
● Globalization has not created a worldwide effect since many countries are left behind
and have not taken advantage of globalisation.
● Gllobalisation can also cause negative effects on employment including job loss, and
offshoring
DEBATE 2 (FOR)
DEBATE on ECONOMIC GROWTH/DEGROWTH
Production/Consumption models
1. Definition + Statement 1
● Economic Growth:
○ The expansion of the output of an economy is usually expressed in terms of
the increase in national income. Nations experience different rates of
economic growth mainly because of differences in population growth,
investment, and technical progress (A Dictionary of Business and
Management (5 ed.) by Oxford University.
● Economic De-growth:
○ It has been defined as an equitable downscaling of economic production and
consumption to assure that society’s throughput — resource use and waste —
stays within safe ecosystem boundaries (Kallis 2011; Schneider et al. 2010).
● Production
○ Economic production is an activity carried out under the control and
responsibility of an institutional unit that uses inputs of labour, capital, and
goods and services to produce outputs of goods or services (OECD).
● Statement 1
○ Economic growth -> raise investment -> production - (Social and
Behavioral Sciences 219 ( 2016 )).
■ According to research by Social and Behavioral Sciences, it is
indicated that economic growth encourages firms to invest, in order
to meet future demand. Higher investment increases the scope for
future economic growth – creating a virtuous cycle of economic
growth/investment.
■ A 1% increase in saving rates increases economic growth by 0.50%.
An increase of 1% in consumption expenditures increases economic
growth by 0.41%. Link
2. Rebuttal + Statement 2
- Idea 1: Economic growth increases average income → higher consumption →
higher production. (Pettinger, 2019) Higher average incomes. Economic growth
enables consumers to consume more goods and services and enjoy better standards of
living. Economic growth during the Twentieth Century was a major factor in
reducing absolute levels of poverty and enabling a rise in life expectancy.
3. Rebuttal + Conclusion:
- Rebuttal idea:
+ Environmental Issues: Money can be spent on protecting the environment.
With higher economic growth a society can devote more resources to
promoting recycling and the use of renewable resources. The Kuznets curve
suggests that initially economic growth worsens the environment, but after
a certain point of growth, the damage to the environment will fall.
+ Improved public services. Higher economic growth leads to higher tax
revenues and this enables the government to spend more on public services,
such as health care and education e.t.c. This can enable higher living
standards, such as increased life expectancy, higher rates of literacy and a
greater understanding of civic and political issues.
+ Also, you mention that it can increase waste in consumption and many
people are in poverty, however, as Bich Tram mentioned earlier, for
those in developing economies with widespread poverty, economic
growth and higher output make a significant difference to living
standards.
- When economies grow, states can tax that revenue and gain the capacity and
resources needed to produce, provide the public goods and services that their
citizens need, like healthcare, education, social protection and basic public
services.
- Further to benefits provided by the state, inclusive growth brings wider material
gains. Growth creates wealth, some of which goes directly into the pockets of
employers and workers, improving their wellbeing. As people earn higher incomes
and spend more money, this enables people to exit poverty and gain improved living
standards.
- Conclusion:
- In general, economic growth occurs as a result of increases in the production of goods
and services. Increased consumer spending, increased international trade, and
businesses that increase their investment in capital spending can all impact the level
of production of goods and services in an economy.
Possible statements:
https://www.economicshelp.org/blog/164203/economics/degrowth/#:~:text=In%20a%20more%20'ne
gative'%20sense,rates%20of%20growth%20are%20good.
https://www.economicshelp.org/macroeconomics/economic-growth/benefits-growth/
DEBATE 3 (AGAINST)
Free Trade/Protectionism - Innovation
Firstly, Definition:
● Free trade: Agree w gr 6
● Protectionism: Protectionism is defined as government policies that restrict foreign
commerce in order to benefit home industry. Protectionist policies are typically intended to
boost domestic economic activity, but they can also be enacted to address safety or quality
problems..(Investopedia)
In an article by Merrit in 2016, because of the entrance of foreign enterprises into local markets,
nations that practice free trade tend to specialize in areas where they have advantages and rely
on other countries for other industries, which can lead to over-specialization.(Link)
○ In these cases, their innovations would most likely be related to their advantages
and their specialization in
○ => This leads to The flip side of specializing in certain sectors, which is
dependent upon those sectors. A country may excel in manufacturing widgets and
devote its industrial base to becoming the world's leading widget provider.
Everything is fine until another nation produces a widget that is just as good. Worse,
technological advancement may mean that the world no longer requires widgets at
all..
Many nations, for example, would have limited incentives to develop in sectors
dominated by large foreign rivals, such as the smartphone markets dominated
by Apple, Samsung, Huawei, Oppo, and others.
Whereas such a change may have previously affected one section of the
economy, perhaps a major portion, it can now have disastrous consequences for
the whole economy.
○ Given the hazards of global downturns and an over-reliance on foreign
commerce, maintaining some self-sufficiency is considered as a prudent
economic policy. As a result, the company may avoid being in the same scenario
as Sri Lanka.
■ Example: Sri Lanka just defaulted on its national debt at the end of May
2022, as they primarily focus on service and import the majority of their
essentials from other nations.
Argument 1: In terms of comparative advantage theory, the infant industry should be
motivated by protectionism to ensure innovation within such industries.
=> In order for newborn industries and new businesses to obtain market share and a
competitive advantage over well-established firms, governments must provide short-
term support mechanisms for these baby industries until they reach a level where they
can compete with international enterprises => Protectionism
● It may also be argued that a developing country must safeguard its newborn industries in
order to diversify its economy => encourage local enterprises to innovate so that every sector
has national products that can be produced internally in that country.
=> => Firms should strive to develop boldly in various local markets, not scared to
battle with large rivals in competitive industries such as the smartphone or social media
industry, where there are many overseas giants such as Apple, Samsung,...
This is the consequence of the collaboration of governments and businesses.
E.g. North Korea or Russia being independent at the moment and not relying on other
countries
Argument 2: Free trade does not enhance innovation in small firms and developing countries
● Only firms with large sales can afford to pay for innovative activities. Therefore, when
trade liberalization occurs, firms with expanding sales (exporters) innovate more, while
others (non-exporters) have to lower their investment.
● Grossman and Helpman (1993) show that a country with a small endowment of human capital
will stay away from R&D activities that are skill intensive in response to trade liberalization.
Indeed, according to these authors, these countries (mostly developing countries) are at
the wrong side of the comparative advantage in R&D and will invest less in innovation.
● Example: China joins WTO. Manually matching three data sets (i.e., tariff data, patent filing
data, and firm-level data), we find that trade liberalization reduces firms’ overall innovation:
overall patent filings fell in industries experiencing more liberalization upon WTO
accession relative to those having less liberalization. Meanwhile, with detailed information
about the innovation type of each firm (i.e., invention, utility model, and design innovation
● According to China’s patent classification), we are able to uncover differential effects of trade
liberalization on innovation. Specifically, we find that the WTO accession significantly
reduced firms’ invention innovation and utility model innovation (with the former
experiencing the larger effect),
● For entrepreneurs, it is hard for them to compete in the market. Here protectionism will
defend new innovation to grow until the point that it can hold its own against the
competition.
Argument 3: Increasing trading and exporting with outsiders can lead to brain drain
Protectionism (Summary)
Rebuttal:
- Due to having foreign firms’s appearance in the domestic markets, countries following
free trade tends to focus on specializing in some particular industries where they have
advantages in, and rely on other countries for other industries (Over-specialization)
- Also, The incentives to innovate would be low when it comes to markets with big foreign
competitors
Rebuttal:
- increase competition due to trade liberalization → negative impact on innovation in
sectors that are distant from the world’s technological frontier.
- increased competition due to trade liberalization dampens firms’ incentives to innovate
Arguement 2:
Free trade does not enhance innovation in small firms and developing countries
- Only firms with large sales can afford to pay for innovative activities
→ when trade liberalization occurs, firms with expanding sales (exporters) innovate
more, while others (non-exporters) have to lower their investment.
- A country with a small endowment of human capital will stay away from R&D
activities that are skill intensive in response to trade liberalization.
→ these countries (mostly developing countries) are at the wrong side of the
comparative advantage in R&D and will invest less in innovation.
- For entrepreneurs, it is hard for them to compete in the market. Here protectionism
will defend new innovation to grow until the point that it can hold its own
against the competition.
- Increasing trading and exporting with outsiders can lead to brain drain. This can from 2
sources:
+ exporting citizen for higher education.
+ collaborating with foreign firms.
→ Lose the sources of innovation to foreigners’ hand
CONCLUSION:
Free trade is supported by the concept of innovation’s sources and comparative and competitive
advantage theory. Moreover, free trade does seem to help small firms and developing countries by
generating the flow of information, new knowledge, and expertise, especially during and post the
pandemic. However, Protectionism argues the opposite for the context of infant industry, small firms
and developing nations. Therefore, Free trade and Protectionism do have their own pros and cons, the
two of them should meet in the middle to take out the most advantages, rather than debating and
choosing the only one best.
DEBATE 4 (AGAINST)
In the new normal: Business as usual vs. New Business models and systems
1. Introduction + Definition + Statement 1: Covid đã ảnh hưởng gất nhìu lên old business
method zà covid vẫn đang tiếp tục diễn ra —> không làm theo cách cũ được - Bistram
Context: The UN’s Framework for the Immediate Socio-Economic Response to the COVID
19 Crisis warns that “The COVID-19 pandemic is far more than a health crisis: it is affecting
societies and econ-omies at their core. While the impact of the pandemic will vary from
country to country, it will most likely increase poverty and inequalities at a global scale,
making achievement of SDGs even more urgent.
Assessing the impacts of the COVID-19 crisis on societies, economies and vulnerable groups
is fundamental to inform and tailor the responses of governments and partners to recover from
the crisis and ensure that no one is left behind in this effort.
Definition:
Economic growth is an increase in the production of economic goods and services, compared
from one period of time to another. It can be measured in nominal or real (adjusted for
inflation) terms. Traditionally, aggregate economic growth is measured in terms of gross
national product (GNP) or gross domestic product (GDP). (Investopedia, 2021)
The new normal: The language of a 'new normal' is being deployed almost as a way to quell
any uncertainty ushered in by the coronavirus. It contends that things will never be the same
as they were before — so welcome to a new world order. By using this language, we
reimagine where we were previously relative to where we are now, appropriating our present
as the standard. (World Economic Forum)
BAU work is any ongoing set of tasks that absolutely needs to be done on a regular basis to
keep things running. Hence, BAU has no foreseeable end date. Employees doing BAU work
are usually the first to see which processes are no longer working and would require some
changes.
New paradigms are rooted in the idea of paradigm shifts, in which technology or new
findings completely change the way people think about or interact with a subject.
Statement 1: Covid has caused many negative impacts on the way of doing business,
thus, BAU no longer satisfies the new normal context.
In the latest McKinsey Global Survey on economic conditions, respondents cite the top 3
effect of covid-19 on economic growth are: inflation, geopolitical instability and supply chain
disruption, and they are expecting to worsen till June 2022. Yet these 3 factors are crucial for
any business, thus, it is proved that only firms that change and adapt the new normal with new
business systems can continue to develop. Such as remote working or apply more technology
to analyse and manage risks.
WHO also emphasis that the fight against covid-19 is a long or an endless fight. There aren't
any evidence proved that covid will be fully cured and prevented permanently. Therefore,
going back to the old normal is extremely dangerous.
Moreover, according to Forbes, coming to the new normal era, customers and employees expects
more. Therefore, BAU is no longer meet the market demand yet the new business model also brings
new benefits. The details are explained in the next statement.
2. Rebuttal + Statement 2:
Rebuttal:
● Returning to “business as usual” will not deliver a sustained long-term economic
recovery. (source)
● Unemployment rate still remains the same if new things such as hybrid working
mode, and digitalization don’t exist.
○ 1-1 interaction are restricted during the covid pandemic so everything must
be moved to online mode. If businesses and countries don’t adapt then they
could be eliminated
● More skillsets are required due to the online working environment and governments
of many countries do support their firms on saving costs via policy & programs -> It
doesn’t mean if it’s costly then we shouldn’t do it
Statement 2:
After the Covid pandemic, customers and employees expect more. New business models
and systems focus on digitalization, hybrid working model utilizing technological factors
can lead to an increase in labor inputs -> push the economic recovery (Source) (Forbes)
● Customer and employees expect for humanity.
○ Within the framework of the pandemic, we’ve seen how being nimble is
vital. Zoom is the obvious example of a company that had to and did a 180-
degree shift when consumers found themselves working from home.
○ A Forrester study found the following shifts:
■ We've seen how important it is to be quick in the face of a pandemic.
Zoom is an apparent example of a firm that had to make a 180-degree
turn when consumers began working from home.
■ "Automation is proving to be vital for firms to address post-pandemic
economic issues, but it necessitates an employee-sensitive strategy,"
according to the research.
■ Most businesses regard lifetime learning, monitoring employee
apprehension, and choosing how to handle post-pandemic distributed
resources to be uncharted ground.
● Pushing digitalization economy: Across developed economies, digitization
improves productivity and has a measurable effect on growth
● Digitization and hybrid working accelerates economic growth and facilitates job
creation: The widespread use of digital technologies and services by consumers,
enterprises, organizations, and governments has emerged in recent years as a key
economic engine that promotes economic development and job creation (Chinoracky
& Corejova, 2019) (Source). There is a link between economic growth and the digital
economy (Park & Choi, 2019)
● Digitalization and hybrid working model enhance productivity: Flexible work
options, such as hybrid working, remote working, or digital nomadism, are becoming
more common, as are job structure and performance requirements. Our research
shows that technical flexibility is a major enabler of flexible employment.(Source).
○ Save time and money on traveling to the physical office
○ => Have more time to work and work more efficiently
○ Both employers and knowledge economy workers stand to save money with
hybrid work. (source)
○ All of the businesses that help facilitate this new model—such as technology
companies and office designers—have an opportunity to increase their
revenue. (source)
● Evidence: Global merchandise commerce has already reached pre-pandemic levels,
thanks to high demand for electrical and electronic equipment, personal protective
equipment, and other manufactured items. Manufacturing-based economies
performed better throughout both the crisis and the recovery era.(source)
● One technique to measure the impact of the epidemic and its recovery is to compare
traded volumes to what would be expected over a similar period in 'normal'
circumstances, accounting for both the trade collapse in the early stages of the
pandemic and the rebound after late 2020. There was a shortage in trade flows
compared to what may be predicted based on the pattern to June 2020. After
June, trade flows improved and were above-trend by November 2020. => rapid
economic recovery after implementing a new company strategy, even if recovery
is not uniform across all sectors
Conclusion
Since the workers have not yet needed to adapt Covid has caused many negative impact on the
to the new system after the pandemic period, way doing business, thus, BAU no longer
satisfies the new normal context. coming to the
Business as usual will create a stable and safe
new normal era, customers and employees
source of income instead renovate to the new
paradigms, which can be very risky expects more -> BAU can’t meet the demand.
The labor market is affected by the pandemic => Returning to “business as usual” will not deliver
causing many negative effects for the workforce a sustained long-term economic recovery ->
such as an increase in the unemployment rate. New business model and systems focus on
According to the normal business model, the digitalization, utilizing technological factors can
labor force participation rate will gradually
lead to the increase in labor inputs -> push the
recover and increase because workers have not
yet needed to adapt to the new system after the economic recovery
pandemic period=> improve the economy.
I. Sustainability definition:
● Sustainability is the ability to exist and develop without depleting natural resources for the
future.
○ The United Nations defined sustainable development in the Brundtland Report as
development that meets the needs of the present without compromising the ability of
future generations to meet their own needs. It assumes that resources are finite, and so
should be used conservatively and carefully to ensure that there is enough for future
generations, without decreasing the present quality of life. A sustainable society must
be socially responsible, focussing on environmental protection and dynamic
equilibrium in human and natural systems.
● The 3 Pillars of Sustainability (TWI, 2022):
○ The concept of sustainability is composed of three pillars: environmental, social and
economic—also known informally as profits, planet, and people. These are in
particular relevant to corporate sustainability, and efforts made by companies.
■ Environmental protection is the most frequently discussed element. It is
concerned with the reduction of carbon footprints, water usage, non-
decomposable packaging, and wasteful processes as part of a supply chain.
These processes can often be cost-effective, and financially useful as well as
important for environmental sustainability.
■ Social development is about treating employees fairly and ensuring
responsible, ethical, and sustainable treatment of employees, stakeholders,
and the community in which a business operates. This may be achieved
through more responsive benefits, like better maternity and paternity benefits,
flexible scheduling, and learning and development opportunities. For
example, business should operate using sustainable labour, which involves
fairly-paid, adult employees who can operate in a safe environment.
■ Economic development is probably the simplest form of sustainability. To
be economically sustainable, a business must be profitable and produce
enough revenues to be continued into the future. The challenge with this form
of sustainability is achieving an equilibrium. Rather than making money at
any cost, companies should attempt to generate profit in accordance with
other elements of sustainability.
○ Focussing on social and environmental sustainability in addition to economic
performance is an approach frequently referred to as the Triple Bottom Line
II. Sustainability Framework and SDGs
● Sustainability framework
The most well-known frameworks are: (Sustainability Knowledge Group, 2018)
● SDGs 17 goals and Immunisation (Gavi The Vaccine Alliance, 2019) and The
Sustainable Development Goals (United Nations, 2021):
NO
POVERTY HEALTHY CHILDREN & FAMILIES = INCREASED PROSPERITY
ZERO
HUNGER IMMUNISATION + NUTRITION = HEALTHIER FAMILIES
GOOD HEALTH
AND WELL-BEING IMMUNISATION = HEALTHY LIVES & WELL-BEING
The impact of climate change cuts across health and well-being, livelihood,
and security of people, particularly for the poorest and most vulnerable
communities, such as people on the move. Immunisation is critical to
building people’s and systems’ resilience to and reducing the risk of
outbreaks due to climate-sensitive diseases, such as yellow fever, cholera and
Ebola, particularly in urban, fragile and post-disaster settings.
○ The particular levels and trends by region and income group for each SDG can be
found in the table below
In line with economic growth, Vietnam has achieved impressive progress toward the Sustainable
Development Goals (SDGs). The country ranks in the top quarter of SDG performance across
emerging market economies for the majority of indicators.
In the context of Viet Nam, the Sustainable Development Goals (SDGs) were nationalized in the
National Action Plan to implement the 2030 Agenda for SDGs (SDG NAP) in May 2017.
As a result, the literacy rate of children aged 15 or over was 95 percent in 2016, 92 percent of
3 to 5-year old children are going to kindergarten, 99 percent of primary school aged children
are enrolled in school, and 99.7 percent of children were completing primary education in the
2016-2017 school year (VNR 2018).
● Vietnam's actions:
Vietnam launched its Voluntary National Review (VNR) in July 2018 and has formulated a
national system of statistical indicators for monitoring and evaluating sustainable
development.
The Government of Viet Nam has created an enabling legal environment and encouraged
foreign and domestic private sectors to invest and do business in line with sustainable
development principles. Accordingly, the Viet Nam Business Council for Sustainable
Development is an initiative aimed at enhancing connections within the business community
to enable them to share and spread good practices, as well as to play an important role in
realizing the SDGs.
To successfully achieve all 17 SDGs, Viet Nam requires technical and human resources,
financial support, as well as strengthened cooperation and exchange of knowledge with the
international community. At the same time, Viet Nam is eager to share its own experiences
and innovative approaches with other countries.
Gavi The Vaccine Alliance. (2019). IMMUNISATION AND THE SUSTAINABLE DEVELOPMENT
GOAL. Gavi.
https://www.gavi.org/sites/default/files/document/2019/Immunisation%20and%20the%20SD
Gs%20%281%29.pdf
Sachs, J. D., Kroll, C., & Lafortune, G. (2021). SUSTAINABLE DEVELOPMENT REPORT2021.
https://s3.amazonaws.com/sustainabledevelopment.report/2021/2021-sustainable-
development-report.pdf
Sustainability Knowledge Group. (2018). What is the purpose of sustainability frameworks and how
frameworks-and-how-do-they-bring-value-to-organizations/
Sustainable Development Report. (2021). Sustainable Development Report 2022. Retrieved August 2,
TWI. (2022). What is Sustainability and why is it so Important? TWI Global. Retrieved August 2,
United Nations. (2021). THE 17 GOALS | Sustainable Development. Sustainable Development Goals.