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Each student will write total 3 News Write Ups News Write Up is a short (about 500 words) description of a current event (no more than 3 months old) related to any issues of global business issues It. Each student will write total 3 News Write Ups. News Write Up is a short (about 500 words) description of a current event (no more than 3 months old) related to any issues of global business issues. It should contain the following:1) Very brief description of the event or the news (about 150 words)2) Its connection to a specific topic of International Business (about 150 words)3) How can we (students) benefit andor learn from it (about 200 words)4) Provide the source of the article andor its Internet link_________________________________________________________1. https:vlr.vnchientranhngaukrainevachuoicungung7999.htmlThe given link stated that the conflict in Ukraine had stressed global supply networks even further, forcing efforts to reduce interruptions and boost resilience. Russias activities in Ukraine are not only causing a humanitarian catastrophe but also having farreaching economic consequences. Ukraines economy suffers as supply networks deliver food, clothes, equipment, and materials to agriculture and industries. Simultaneously, Western sanctions have a significant influence on the Russian economy. 2,550 major US corporations have tierone suppliers from Russia or Ukraine. They are no longer able to deal with such providers. In reality, sourcing1 from this area affects more US firms than European ones. Even though Russia and Ukraine will account for just around 4% of the world GDP in 2021, the interconnection of global supply systems has allowed this war to spill over a wide range of industrial supply chains. Numerous small businesses are closing their doors right now. Because of the high energy cost, they cannot continue to operate. This adds to the significant supply interruptions caused by the pre and postCovid impacts. Furthermore, not many people comprehend that 16% of the total crew is Russian or Ukrainian. This implies that maritime freight providers, who have already suffered dramatically from the epidemic, will now face a 16% decrease in available labour.2. Shipping companies have avoided the Black Sea since the crisis erupted because Russian military involvement has hampered commercial ships. As a result, exporters have been forced to adjust their routes, causing congestion at other European ports. Russian military activities in the Black Sea and repeated assaults on Ukrainian ports, and mining in the seas around the ports make commercial transportation unfeasible. Although alternate routes capacity is predicted to expand steadily, such export is likely more difficult and expensive than the maritime route. The RussiaUkraine conflict is disrupting already weak global supply lines in the aftermath of the Covid19 epidemic (Chasey, 2022). Many input raw materials and fuels, such as platinum compounds, aluminium, sunflower oil, crude oil, and steel, are not being delivered on schedule, placing industries in Europe, Russia, and Ukraine in danger of closure.
Each student will write total News Write Ups News Write Up is a short (about 500 words) description of a current event (no more than months old) related to any issues of global business issues It should contain the following: 1) Very brief description of the event or the news (about 150 words) 2) Its connection to a specific topic of International Business (about 150 words) 3) How can we (students) benefit and/or learn from it (about 200 words) 4) Provide the source of the article and/or its Internet link _ https://vlr.vn/chien-tranh-nga-ukraine-va-chuoi-cung-ung-7999.html The given link stated that the conflict in Ukraine had stressed global supply networks even further, forcing efforts to reduce interruptions and boost resilience Russia's activities in Ukraine are not only causing a humanitarian catastrophe but also having far-reaching economic consequences Ukraine's economy suffers as supply networks deliver food, clothes, equipment, and materials to agriculture and industries Simultaneously, Western sanctions have a significant influence on the Russian economy 2,550 major US corporations have tier-one suppliers from Russia or Ukraine They are no longer able to deal with such providers In reality, sourcing1 from this area affects more US firms than European ones Even though Russia and Ukraine will account for just around 4% of the world GDP in 2021, the interconnection of global supply systems has allowed this war to spill over a wide range of industrial supply chains Numerous small businesses are closing their doors right now Because of the high energy cost, they cannot continue to operate This adds to the significant supply interruptions caused by the pre- and post-Covid impacts Furthermore, not many people comprehend that 16% of the total crew is Russian or Ukrainian This implies that maritime freight providers, who have already suffered dramatically from the epidemic, will now face a 16% decrease in available labour Shipping companies have avoided the Black Sea since the crisis erupted because Russian military involvement has hampered commercial ships As a result, exporters have been forced to adjust their routes, causing congestion at other European ports Russian military activities in the Black Sea and repeated assaults on Ukrainian ports, and mining in the seas around the ports make commercial transportation unfeasible Although alternate routes' capacity is predicted to expand steadily, such export is likely more difficult and expensive than the maritime route The Russia-Ukraine conflict is disrupting already weak global supply lines in the aftermath of the Covid19 epidemic (Chasey, 2022) Many input raw materials and fuels, such as platinum compounds, aluminium, sunflower oil, crude oil, and steel, are not being delivered on schedule, placing industries in Europe, Russia, and Ukraine in danger of closure Furthermore, rising tensions drive energy prices to increase, increasing transportation expenses The effect of Russia-Ukraine tensions on specific sectors may vary and depend on the length of the war However, the intrinsically weak supply networks will most likely have a significant impact After the devastating consequences of the Covid-19 epidemic Not only that, but the conflict between Russia and Ukraine causes food prices to rise frequently owing to supply interruptions Ukraine and Russia contribute 30% of global wheat exports, 19% of global maize exports, and 80% of global sunflower oil exports (Chambers, 2018) Due to interruptions in global supply systems, global food prices have soared, raising the danger of civil unrest in poorer nations The Ukrainian conflict emphasizes modern supply networks' complex, global, and interdependent character Disruptions in only one part of the globe may hugely influence global industry, as shown by the automobile and semiconductor chip supply chains (Dawson, 2020) There is no simple solution that can handle these disturbances Building a regional supply chain involves a financial investment, time, and human skill (Kane, 2017) The links in the supply chain are difficult to untangle, as is Europe's dependence on Russian gas or the US supply chain for items with tight ties to China Perhaps this rivalry will strengthen supply chain links across nations with comparable value systems in the long run High oil prices directly influence families, wealth, and consumer expenditure in the European Union Food supply constraints are affecting emerging markets 30% of wheat comes from Ukraine and Russia, dramatically influencing European living As a result of this phenomenon, national governments and industries should implement policies that strengthen the resilience of critical supply chains These strategies include stress-testing supply chains and investing in infrastructure and ecosystems that enable the creation and manufacturing of critical materials and components Furthermore, producers must use risk-reduction strategies These methods include selecting numerous suppliers for essential components, expanding safety stock, and placing critical suppliers in a more controlling position Russia and Ukraine are essential global commodities producers (Anna) Supply interruptions from these two nations might disrupt global supply networks and push global commodity prices The Russia-Ukraine confrontation might produce significant instability, lowering the chances for global economic recovery, which the epidemic has seriously harmed The article link https://vlr.vn/chien-tranh-nga-ukraine-va-chuoi-cung-ung-7999.html References Chasey, J (2022, March 17) How the war in Ukraine is further disrupting global supply chains Harvard Business Review Retrieved October 29, 2022, from https://hbr.org/ 2022/03/how-the-war-in-ukraine-is-further-disrupting-global-supply-chains Chambers, G (2018) Ukraine and the Russian Federation: Share of global exports for maize and wheat https://doi.org/10.1787/agr_outlook-2018-graph19-en Dawson, D (2020) Virus will have huge socioeconomic impact in China Emerald Expert Briefings https://doi.org/10.1108/oxan-db250772 Kane, G (2017) Building a sustainable supply chain Building a Sustainable Supply Chain, 37–48 https://doi.org/10.4324/9781351275088-3