UCF Global Perspectives

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Tag Archives: Global Economy

Venezuelan Government Wins Easier Debt Terms with Russia, China

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The Russian and Venezuelan governments signed an agreement on Wednesday confirming a ten-year payment plan for Venezuela’s 3.15 billion dollar debt to Russia (WP). Venezuelan payments to the Russian government will remain nominal during the first six years, allowing for economic stabilization and development, reported the Russian Finance Ministry. A day later, Geng Shuang, the […]

Chinese, Sri Lankan Ministers in Free Trade Talks

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On Tuesday, Sri Lankan Foreign Minister Tilak Marapana announced in a Beijing reception that a free trade agreement with the Chinese government is nearing completion (Reuters 1). The reception, at which Marapana praised Chinese support of the Sri Lankan economy, marked the 60th anniversary of diplomatic ties between China and Sri Lanka. This trade agreement […]

Future of US-South Korea Trade Deal Uncertain

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American President Donald Trump’s economic advisers are divided over the United States-Korea Free Trade Agreement (KORUS) in light of the growing North Korean nuclear threat. Two senior administration officials reported on Saturday that Trump may withdraw the US from the five-year-old trade agreement with South Korea (NYT). Advocates of withdrawal called KORUS unfair, while other […]

Microsoft Cuts Thousands of Jobs

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Microsoft, one of the largest companies in the world, announced on Thursday that they planned to lay off 3000-4000 employees across the globe (NYT). The job cuts will come primarily from Microsoft’s Sales and Marketing departments, amidst a mass restructuring of the business’s operations. The cuts will come from locations that are mostly outside of […]

Venezuelan Government Seizes General Motors Auto Plant

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The Venezuelan government seized a General Motors factory and other company assets on Wednesday, causing significant damage to the company and its workers (AP). According to a company statement, General Motors will take “all legal actions” to defend its rights against the “illegal judicial seizure of its assets” (Reuters). The seizure came amongst violent protests […]