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Escalation Of Protectionism Measures Could Trigger An Economic Downturn

It makes sense for the Human Resources Department to use payroll software so that staff will have more time to devote to more pressing responsibilities than computing the pay of employees. The HR department has many important tasks that include providing employees with the right training so that they can more productive and motivated in the workplace.

On the other hand, the world is threatened today by news of trade wars. The global economy is picking up but the escalation of protectionism measures could lead to another downturn. According to Bank for International Settlements (BIS), there are signs that the “racketing up of rhetoric” is severely affecting investment. There are fears that a full-blown trade war may happen as Donald Trump steps up hostility with some of America’s key trading partners.

Tariffs were imposed on steel and aluminium imported from other countries but the trading partners, China and Europe immediately responded with retaliatory measures. The US president has threatened China with tariffs on $200 billion worth of imported goods. Europe was also threatened with tariffs on imported European cars after Brussels imposed taxes on American products like Levi’s jeans, bourbon whiskey and Harley Davidson motorcycles.

The escalation of protectionism measures could trigger an economic downturn and the impact could be very significant. There are signs of increasing uncertainties that are associated with the first protectionist steps.

In the annual report on challenges to the global economy, BIS states that the ultra-low interest rates that were implemented by central banks to respond to the financial crisis has improved global economy but loose monetary policies could be a threat to stability. 10 years after the global crisis, central banks were satisfied with the state of global economy but they cannot continue to be the only game in town. Normalization of monetary policies is very important in rebuilding policy space.

Regardless of the size of a company and the number of persons they employ, maintaining an efficient system through payroll software is always an important consideration. Employees expect to be paid for the work they performed and if the company fails, it results into unhappy employees and legal complications.

Digital Era’s Currency Lies On Trust

There has been news regarding consumer privacy being exposed online which means people are concerned regarding their personal information but they are not sure on what it entails as users. The headlines will soon be forgotten and it is expected that users who left various social media platforms will go right back to using it. They cannot deny the fact that social media has played a very important role in today’s communication therefore issues regarding data and privacy will surely resurface. This is not surprising with the expansion of the digital economy. There is an improvement with currency exchange Vancouver which signals the economy is doing better therefore digital transactions will continue to increase.

People are using digital tools to transfer currency from one place to another despite their worries about companies having access to their personal info. While privacy is important to many, there are those that recognize the benefits of using online tools and platforms. This is something we take risks with. Data is in fact, a huge part of the intangible assets by companies and it currently covers 84 per cent of the total market value of the companies included in the S&P 500 list.

According to a research conducted by Cognizant, 66 per cent of people said that they view personal data as a commodity with high value which they are willing to provide with companies as long as they receive something valuable in return. Within the next few years, privacy will tackle big changes that it is perceived that unethical practices will be considered acceptable in the future. It all boils down to the knowledge the consumers have in terms of how companies are utilizing the data they are gathering. In return, they would be willing to have risk just so they can experience value such as personalized services and experiences. This trade-off is seen to be possible in the future.

As of now, one can never tell how data privacy works especially with the number of people that are using the internet to shop as well as to date online. We also perform bank transactions online and no longer rely on traditional shops to accomplish things such as currency exchange Vancouver because online transactions are considered to be safer and more convenient.