China Faces Deteriorating Geopolitical Environment

May 19, 2020

By He Jun

Many countries are still focusing on taking measures to counter Covid-19 as the pandemic continues to ravage the whole world. That being said, it is also quite obvious that China’s relationship with the West is suffering even more by the day, particularly its relationship with the U.S., given both countries are dealing with a situation far worse than the trade friction. Based on the events that have transpired, it looks like China’s tension with the U.S. and many European countries are taking a turn for the worse.

A part of the reason for that stems from the severe impact the pandemic has towards the U.S. and Europe. As of April 22, more than 2.51 million confirmed cases and 175,000 deaths were reported worldwide, with both countries becoming the world’s hardest-hit countries. The death toll in the U.S. alone exceeds 45,000 while Spain, Italy, France, Germany, and the United Kingdom collectively experienced a death toll exceeding 90,000. Additionally, the number of unemployed people in many states (or countries) across the U.S. and Europe has reached tens of millions. Put simply, the world’s two largest economies are experiencing the worst economic depression since World War II.

As a country that has experienced the pandemic firsthand, China knows the countries’ plight all too well. Losing the lives of more than 100,000 people and suffering immeasurable economic losses in a matter of two months can truly be a devastating blow to both the U.S. and Europe. To be fair, it’s perfectly understandable to see why China is receiving all the slurs, hate, complaining and questioning. As a matter of fact, there’s no denying that all the hate and skepticism being directed to China comes from the West and we are certain that the negativity will only continue to intensify as times goes on. What this also means is should China fail to respond to this appropriately, its geopolitical relations are guaranteed to suffer greatly in the future.

As such, there is a need for China to be mindful of the Western leaders’ geopolitical attitude at the moment.

American President Donald Trump’s attitude towards China speaks for itself, it screams hostility and is everchanging. During the briefing concerning pandemic work at the White House on April 18, Trump said, “It could have been stopped in China before it started and it wasn’t, and the whole world is suffering because of it”. He further warned, ” If it was a mistake, a mistake is a mistake. But if they were knowingly responsible, yeah, I mean, then sure there should be consequences”. As it stands, there are two reasons Trump will continue to pressure China. One, the Trump administration underestimated the pandemic during its early stages and was ill prepared in the areas of virus detection and protection resources, resulting in uncoordinated early prevention and control measures, and therefore leading to a disaster. In fact, Trump is being held accountable for all the mess that is happening as we speak. Two, 2020 is the year of the U.S. election. The pandemic has severely affected the U.S. economy and wiped out its 2008 employment accomplishments, which dampens Trump’s odds of winning. Faced with enormous pressures, it only makes sense that Trump would resort to a tactic of blatantly blaming and publicly attacking China as a part of his go-to political strategy

With that said, European leaders are too seeing a subtle shift in their geopolitical stance.

Previously in an interview with the Financial Times, French President Macron was asked if China’s handling of the Covid-19 pandemic has “exposed the weaknesses in Western democracies”, to which he responded, “There’s no comparison between an open society and China.” Macron added, “given these differences, the choices made and what China is today, which I respect, let’s not be so naive as to say it’s been much better at handling this”. He added that, “there are clearly things that have happened that we don’t know about”. Meanwhile, German Chancellor Angela Merkel has recently made similar demands towards China. According to some reports, Merkel urged China to be as transparent as possible throughout the pandemic; the more transparent China is about the source of the novel coronavirus, the more beneficial it is for the whole world.

Dominic Raab, the British politician serving as First Secretary of State as well as Secretary of State for Foreign and Commonwealth Affairs, also voiced his doubts about China and mentioned the it will have “hard questions” to answer over the virus’s origins and whether it could have been curbed earlier.

In an interview with Australian Broadcasting Corporation on April 19, Australian Foreign Minister Marise Payne expressed her concerns over China’s transparency over Covid-19 and that the country should be called in for a non-WHO led “independent international inquiry” on the origins of the pandemic. While she did not comment on China’s transparency in handling the epidemic directly, she stressed that trusting a country is based on long-term relationships and that all major countries in the world should uphold transparency. Prior to that, Peter Dutton, Australia’s Home Affairs Minister, even said that the way the world interacts with China needs to be re-evaluated to some extent.

While China has answers to the international community’s questions and certainly holds the right to refuse any calls for probe, it wouldn’t serve as a feasible solution in the long run, especially not in the face of globalization. Plagued with global issues, China cannot afford to ignore the perception the world has towards it, nor can it refuse cooperating and exchanging with other countries. During April 21st, ANBOUND noted that the Pew Research Center, an independent polling agency in the U.S.’s survey shows Americans’ negative perceptions of China continues to grow. Currently, 66% of Americans hold unfavorable views towards China, the highest recorded response since the research center begun examining the matter since 2005. By the time the Trump Administration had been established in 2017, the responses were said to have increased by nearly 20 percentage points.

To sum up the wall of text thus far, China has been facing deteriorating geopolitical relations since the start of the Covid-19 pandemic.

Despite the massive negativity that is going around, there is people who, nonetheless, remain objective in their views concerning the pandemic’s impact whilst acknowledging the risks of China’s separation from the U.S. and Europe. Robin Niblett, director of Chatham House, believes China may become the world’s largest economy by 2030 and maintains that the U.S. and Europe’s act of managing their differences with China post-pandemic is just as important as resolving the post-1945 Soviet Union conflicts both countries had. Back then, the Soviet Union was a military powerhouse and a strong competitor, though the same couldn’t be said for its economy. The decision to contain the Soviet Union was a practical, smart and ultimately right strategy. This time however, things are no longer the same, as there will be no victors in the new Cold War against China.

Bearing in mind of the possibility that China’s geopolitical relations will suffer significantly in the future, it should regard the matter with utmost seriousness and respond appropriately. To that, we would like to emphasize several key factors. One, China needs to increase the amount of pandemic support materials (PPE in particular) provided to the U.S. and Europe. Being the first country to be free from the Covid-19 pandemic, China should provide donations, expand its exports, and rely on other means to aid the disease prevention measures in other countries, especially to the U.S. and Europe, so as to help free them from the pandemic as soon as possible and restore their economies. Two, China needs to strengthen its communication with senior leaders from other countries. As a matter of fact, President Xi Jinping has been communicating and interacting with leaders from various countries, and similar activities are expected to take place on a more diverse and multi-faceted level in the near future. And finally, establish a more transparent and frequent flow of information exchange mechanism.

Final analysis conclusion:

As Covid-19 continues to spread to the rest of the world, China’s geopolitical relations are showing signs of deterioration. To improve the state of its geopolitical relations and alleviate some pressure off it, China needs to have more information exchanges, better management of differences, and more practical support with the international community in the future.

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About the Author

Mr. He Jun takes the roles as Partner, Director of China Macro-Economic Research Team and Senior Researcher. His research field covers China’s macro-economy, energy industry and public policy.

COVID-19: How the Economic Impact is Pushing Banks to Digitise

May 19, 2020

By Sudeepto Mukherjee

As the world tries to deal with COVID-19, we see citizens, governments and businesses impacted in ways that was hard to imagine a few months ago. Enforced social distancing, rapid increase in the use and demand for bulk hand sanitiser in Adelaide, unprecedented fiscal/monetary stimulus from governments, drastic fall in energy prices, mass adoption of digital tools, rapid transition from physical to digital interactions… there is no doubt the world will be a different place for businesses going forward.

Like other institutions, banks will have to rapidly adjust to this new “normal” while living up to the expectations of responsibly helping their customers, and businesses drive the economic rebound that is so desperately needed. While the Financial crisis has strengthened banks’ ability to withstand such shocks, this crisis will stretch the limits of their resilience.

The immediate priority has been to respond effectively to the high volume of calls from consumers and businesses and facilitate the various government schemes like UK’s Coronavirus Business Interruption Loan Scheme (CBILS). Soon banks will need to focus on effectively dealing with what’s coming next as we collectively seek to rebound from this crisis.

A strong digital culture and infrastructure can provide a solid foundation for banks to effectively react to this challenge and regain the trust of their customers going forward.

While the external context has changed, the fundamental benefits of accelerating to become a digital enterprise are arguably more relevant than ever before. The need to adapt quickly to changing client needs, to redefine their risk/pricing models that underpin profitability, the ability to lower cost to serve to increase shareholder returns, and the need for employees to collaborate effectively using digital tools – all these will only be possible if banks aggressively digitise.

Banks should look outside of their core industry to learn valuable lessons on the benefits of digitisation. Take Amazon and Uber as examples: Amazon has been an outlier in the stock market using its digital backbone to meet the growing demands of their services during this crisis. Similarly, Uber’s agility has allowed it to launch new products in delivering medicines and groceries to meet immediate customer needs. Both have showcased their ability to transform at speed, to spin-off new products and scale propositions to meet changing customer needs in real time. However, for weighty legacy banks, moving at speed has traditionally been tricky; they don’t yet have the infrastructure and ability to move and evolve in the same way which would allow them to solve the current economic requirements of their customers.

Moving from Evolve to Jump

To take advantage of digital, banks must take a more aggressive approach to transforming their businesses. The current conservative, evolutionary transformation approaches that most banks have adopted will need to give way to more determined strategies. We have seen some banks like Lloyds and Goldman Sachs already look at innovative ways of accelerating their transition to digital.

For others to do this, it would involve investing in key parts of their digital journey at scale and creating relevant partnerships with digital leaders like Microsoft and Google. Their strategies should cover key elements like:

Leveraging Cloud to not only retire Data Centres but move to a more flexible and scalable operating model that creates business value
Creating open APIs to increase the breadth of services by leveraging relevant partnerships
Rethinking their operating structures from being product led to customer/proposition led
Investing in capability (internally or via partners) that will accelerate the adoption and use of modern tech and tools
Using a data driven approach to create personalised offerings and products and drive acquisition
Thinking of IT as an asset to differentiate and not a risk to be managed

A significant proportion of banks have not been ready for a massive shift to digital. Legacy architectures/operating models, lack of adequate skills and a scarcity of capital have made it difficult to make this transformation quickly. However, banks need to overcome these challenges to pave a path towards a more digital centric organisation.

Events of the past few months have forced consumers and small businesses to do things differently. Banks have a tremendous opportunity to rethink their strategy, fine-tune their response and take bold steps to achieve operational and customer leadership.

Customers at the center of the response

However, any transformation needs to be customer led. This crisis will be the ultimate test as to whether banks can do the right thing. Banks need to take the lead in re-assuring their customer base in an empathic and personalised way. They’ll have to move from shorter term metrics driving customer decision-making to a focus on customer lifetime value.

A majority of their clients, both retail and institutions, now need economic help and banks have a unique opportunity to regain their trust by not only solving their immediate issues but also helping them recover by creating innovative and personalised products to meet the unique needs. The need to serve different cohorts and segments can be make operations more complex. But digitalisation can provide relevant insights and patterns to help make the right choices and decisions.

The current crisis will force banks to digitise but the ones that take the initiative and take ambitious steps to overcome legacy challenges and create a future proof platform and operating structure will increase their chances of success in this new and uncertain future.

Visit www.publicissapient.com/financialservices

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About the Author

Sudeepto Mukherjee is the Senior VP EMEA & APAC Banking & Insurance Lead. He is a pioneering digital technologist with unrivalled experience in helping financial services firms overcome complex strategic challenges using modern tools and techniques to amplify their competitive edge. With more than two decades’ experience at the vanguard of the banking and insurance industries, his role at Publicis Sapient combines advising the world’s top financial organisations on their next steps and ensuring the company remains at the cutting edge of the Enterprise Digital Transformation realm.

5 Alternatives to Debt Consolidation Loans for Bad Credit

May 18, 2020

Debt consolidation loans are a great solution if you have multiple debts. You can roll all your balances into just one monthly payment while getting a lower interest rate, enabling you to get out of debt cheaper and quicker.

Unfortunately, if you have bad credit, such a loan might not be accessible to you. You either won’t qualify, or you will qualify but you will get a crippling interest rate, which defeats the purpose.

The good news is that you can pursue other options. Below are just 5 alternatives you can explore if you can’t get an affordable debt consolidation loan due to bad credit.

Credit card refinancing

One alternative is to use a balance transfer credit card. Such credit cards do not charge any interest for a certain number of months (usually 6, 12 or 24).

If you transfer your balance(s) to this new card, you will be free for several months to pay off your debt without accruing additional credit card interest — giving you breathing room to make actual progress toward eliminating your debt.

Note that this option is not for everyone who has bad credit, but only those whose credit is lackluster but still good enough to get solicitations for balance transfer credit cards. It is not easy to get approved for a new card if your credit is poor and opening a new card can further erode your credit score.

To make the most out of this alternative, you must be committed enough to pay off the whole balance before the zero-interest period is over. Otherwise, the card turns into another source of debt.

You must also have the self-discipline to not use your credit cards at all while paying off your debt.

Debt management plan

If you enter a credit counseling program, one of the options the counselor might suggest is a debt management plan.

With a debt management plan, you can qualify whatever your credit score is.

Here, the counselor will negotiate with the creditors on your behalf. You might get lower interest rates, reduced penalties, or waived late fees in exchange for a stable repayment plan.

This repayment plan will last from 3 to 5 years, during which you have to make a single payment to the counselor each month. The counselor will take care of distributing the payments to your creditors.

Second mortgage

If you own a house and have built up equity, you can use that equity as collateral for a home equity loan or line of credit (also called a second mortgage).

Needless to say, by going this route, you’re putting your home on the line, so be careful. If you don’t make timely payments, your home will get foreclosed.

Debt settlement

With debt settlement, your creditors might agree to lower your balance if you pay in a lump sum.

This option is available to consumers with bad credit and can help you quickly get rid of your debt while saving a lot of money.

Note, however, that your credit score will take a big hit with this alternative because credit reporting agencies treat the unpaid money as a demerit. Your credit score will drop by 75 to 100 points and the damage may last for years.

If you still want to proceed, you typically need a third-party company to handle the debt settlement.

Initially, creditors will likely be reluctant with this strategy, especially if you’re arranging it yourself. You may get intimidating collection letters and phone calls, but after some time, before they sell your debt to collection agencies for cheap, they might agree to settle with you so that they can make more money.

Bankruptcy

Filing for bankruptcy should be your last resort, only when it is clear that all other options won’t be able to get you out of debt.

There are two kinds of bankruptcy: chapter 7 (aka liquidation bankruptcy) and chapter 13 (aka reorganization bankruptcy).

Chapter 7 lets the bankruptcy trustee sell your assets to cover as much debt as possible. Some assets are exempt, however, such as your house, furniture, cars, clothes, and retirement accounts. The creditors must then accept the proceeds as payment.

If you exceed income limits for chapter 7, you need to file for chapter 13. With this kind of bankruptcy, you can create a 3-5-year repayment to partially cover your debts, but the court should agree that the repayment is sufficient to erase the debt.

With a bankruptcy filing, you can wipe away your debts, but your credit score will suffer for 7 to 10 years.

Bottom Line

Getting out of debt through a debt consolidation loan is a good move but it is not available for everyone, especially those who have bad credit.

You have other options to pull yourself out of debt, however, such as credit card refinancing, debt management plan, home equity loans or lines of credit, debt settlement, and, as a last resort, bankruptcy.

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How to Find the Best Funeral Insurance Policy

May 18, 2020

Funeral expenditure is usually high throughout most of the United States. An average cremation can cost over a thousand dollars, and traditional burials can go beyond ten thousand dollars. If you haven’t done any pre-planning, such as a funeral insurance policy, then these expenditures can create even more trauma with its long-listed bills.

Many of us do not even understand the ideas of funeral insurance and feel conflicted about getting such a plan. Funeral insurance or burial insurance is a final expense insurance policy where you purchase an insurance policy solely for funerals, as the name suggests. To know the best funeral insurance policy, you can contact the experts like febofamerica.com.

Funeral insurance does not need you to provide any medical reports in order to buy it. Anyone can buy it, and the company will pay the full amount of the policy on your death benefits to cover your funeral costs. The death benefits may range from 5000 dollars to 25000 dollars, depending on your policy.

However, not all insurance companies have the same benefits in their funeral insurance policies. Companies like Colonial Penn waits for two long years to complete all its premiums in order to receive the full coverage of your death benefits. To know more about secret loopholes of such insurance policies, read this article.

How do I find a funeral insurance policy that fits all of my needs? To solve that puzzle, let’s follow the following steps to make sure you get the best policy.

1. Final Expense Estimation

First and foremost, you need to estimate a figure that is sufficient enough to cover all final expenses. Of course, a funeral bill is the largest single cost on the list, but there are more expenses to follow, such as any remaining credit card bills, medical bills, mortgages, and more.

You can visit some of the funeral houses and insurance companies to find a rough estimation for your final expense needs. If you already know the breakdown of the funeral items you need, then it would be easier to estimate your funeral costs.

Funeral items such as caskets can cost you 2000 dollars to above 10000 dollars each. You also need to consider other funeral items like headstones (at least 1000 dollars), plot/niche (1000 to 4000 dollars), burial vault (minimum of 500 dollars), viewing times (up to 1000 dollars), and the ceremony itself (nearly 1000 dollars).

2. Know Whether You Have Enough Money to Cover Final Expenses

Once you have estimated your final expense costs, it’s time to determine whether you can cover the insurance for it or not. To figure it out, ask for assistance through financial advisors, and they may redesign your estimated costs according to your estate.

Does your death benefit tie-up in probates? How easily can survivors access your fund? Remember all funeral houses and cemeteries expect payment before the funeral procedure starts.

3. Decide on Your Need of Funeral Insurance

Funeral insurance is important if you do not have enough money to cover your funeral expenses without it. Even if you have enough money to leave for your family, your final expense call surely depletes your estate to some extent, and funeral insurance helps protect your assets for your survivors. There are more reasons to buy funeral insurance, such as:

1. Premium levels do not increase with your age.

2. Your beneficiaries will get all your premiums of the policy with some interest compounded annually.

3. No medical exams are required to buy such a policy.

4. It’s a hassle-free process without probates.

5. Ideally, it’s a whole life policy that stays active until you die.

4. Select the Type of Insurance You Want

Funeral expenses are specifically designed to pay your final expense coverages. You will find different specialized policies to cover your needs for your final expenses. Everdays is a company that makes this process simple for all of those amid senior planning. You can finalize plans and finances so that your loved ones don’t have to pick up the ball when the time comes. Insurance companies offer two basic policies in funeral insurance.

1. Simplified Issue

In the simplified issue, the insurance company will underwrite your previous medical history. Though in funeral insurance, medical examinations are never required, under this policy, they can decline you if you have some pre-existing conditions like if you smoke tobacco, if you consume alcohol frequently, and any other risk factors.

This type of policy often integrates level benefits policy. Here, your beneficiaries will get the full benefits regardless of if your death is natural or accidental. In level benefits, the total amount of the policy never increases with time, and the level death benefits can get diminished with inflation over time.

2. Guaranteed Issue

In this policy, you don’t need to answer any health questions. Because insurance companies assume more risk on you, they will charge more for this kind of policy.

This policy often involves modified benefit provisions. It’s a plan where you won’t get the full death benefit unless you complete all its premiums for a specified time frame. This time limit is also known as a restriction period, and it is mostly within 24 to 36 months.

If you die before the restriction period, then your beneficiaries will get only a limited portion of death benefits. It is only applicable for natural deaths, but in the case of an accidental death, you will get full benefits even if you haven’t completed your restriction period.

5. Market Research

To find the best suitable deal for funeral expenses, it’s time for some market research. Compare the policies and offerings from different insurance companies. Make sure you go through their terms and conditions in order to judge things clearly.

Also, not all states have the same regulations for funeral insurance. For better research, get advice from experts, friends, or families to help find you the best policy. Check online websites and add to social media communities for further information.

Another important aspect of market research is the premium distribution. Find an insurance company where you can break down your monthly premiums into the most affordable rates. If you can, consult with financial experts to help decide your premium plans.

6. Select Funeral Insurance Provider

You can purchase a funeral insurance policy from agents or directly from insurance companies. Make sure that your provider has a license from the proper authorities and take a look at their portfolio. Read some reviews on their services as will.

It is now time to sign some papers and secure your family from exorbitant final expenses. Also, let your family members or dear ones know about your final expense policy. Nominate your beneficiaries and take all the necessary documents from your provider.

Final Verdict

Funeral expenses are costly for most middle-income families. If you plan it well and buy funeral insurance, then you can cut off these excessive expenditures successfully. You don’t want to put your family in more trouble after your death. Face the reality and pick a policy for your family.

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The Most Effective Method to Buy Gold Bars

May 18, 2020

When taking a look at purchasing progressively huge measures of gold, gold bars are your most logical option, and gold subscription box makes easy to acquire them online.

Why Buy Gold Bars Online?

While the above rundown includes some decent purchasing advantages, purchasing gold online remains the most proficient approach to buy gold today.

While you might have the option to swing by your neighborhood gold store, you’re at their kindness as far as when the store opens and closes. Looking for gold online permits you to peruse stock at whatever point you please.

Not exclusively would you be able to get to stock from online merchants at whatever point you like, yet online dealers additionally have a progressively broad determination of items to browse.

Neighborhood vendors of gold regularly sell their items at greater expenses than online vendors to pay for overhead expenses and spread the more modest number of deals they make versus online dealers.

Deals charge is an extra factor that will build your last deal cost. Duties on gold can fluctuate from state to state, so make certain to inquire about expenses inside the territory you’re purchasing from early.

Where to Check Both Overall Gold and Gold Bar Prices?

Gold bar costs are sorted for the most part by weight. Numerous gold bars will have their weight imprinted on the bar. Online destinations will sort these sizes to make perusing straightforward.

Before you begin looking for gold bars, it’s ideal to check in with the present gold bullion price in Brisbane. By far most of the lingot d’or de 1 kg selling sites include live following outlines of current gold spot costs. All bits of gold sold have premiums related to their expense. Bigger gold bars will, in general, have littler premiums than littler bars. Premium charges spread:

Creation
Circulation
Seller markup
Gatherer esteem markup

Gold spot costs are from hypothesis in the business sectors, estimations of cash, world occasions, and different elements.

Where to Sell Gold Bars

Numerous sites make selling gold online similarly as simple as getting it. You need to discover an organization that offers higher buyback costs than simply your neighborhood gold shop.

Remember that selling back gold bars is somewhat more entangled than selling back different types of gold, for example, coins. Gold coins are increasingly moderate and in this manner have a higher market request. In case you’re experiencing difficulty discovering somebody to repurchase your gold bars, odds are the vendor you bought from can serve to point you the correct way.

Selling gold back to a nearby shop is counterproductive as you’ll without a doubt get an increasingly considerable buyback cost from a bigger organization that has the way to flexibly quality buyback costs.

Make a point to search around various purchasers to think about statements.

Some online organizations that buyback gold has a base worth that you need to meet to sell. A lot of online organizations are continually hoping to extend their stock, so don’t stress over simply offering your gold to whom you got it.

Numerous associations are willing to buyback gold that was initially from another organization. The purpose behind this is government bunches that produce gold, for example, the U.S. Mint, just disperse their items to a predetermined number of approved vendors. On the off chance that one organization sells an item, odds are another organization does and is willing to buyback that equivalent item.

The procedure for selling gold bars, for the most part, incorporates these basic advances:

Considering an organization that purchases and sells gold
Securing your deal cost
Delivery your items over for an assessment
Getting your installment

What are the Common Gold Bar Sizes?

Weight is the principal factor that impacts the cost of a gold bar. Standard weight classes of gold bars include:

10 ounces
5 ounces
1 ounce
500 grams
250 grams
50 grams
20 grams
10 grams

Individuals will in general purchase gold bars in higher weight sums contrasted with purchasing gold coins to get greater venture an incentive for their cash.

Would you be able to Buy Gold Bars from a Bank?

It’s inconsistent that a bank will offer the offer of gold bars. Gold coins are an increasingly regular type of gold that banks sell, and even the quantity of banks that sell gold coins is constrained.

Most banks that sell even gold coins won’t transparently publicize their deals for security reasons. Much of the time you’ll need to contact the manage an account with a request for additional data on gold deals.

Since you may see a bank as a legitimate seller, it’s ideal to search somewhere else for somebody qualified to sell gold bars. Look at client audits of associations, assess to what extent the organization has been doing business, and look at their Better Business Bureau rating.

Where to Buy Gold Bars Locally

For those searching for an in-person gold purchasing experience, most urban areas and numerous towns have neighborhood shops that both purchase and sell gold. In the event that you live in an increasingly rustic territory, you may need to represent travel time when arranging your buy to discover a shop.

While a few drawbacks of purchasing gold at neighborhood shops were recently referenced in this article, there are a few upsides.

The aces of purchasing gold in locally in person include:

In-person discussions with representatives or others in the shop
The capacity to analyze and hold the gold bar you’re taking a gander at buying
A diminished holding up time as in you don’t need to sit tight for delivery
Ensure the vendor you’re purchasing from is confirmed with the U.S. Mint. There are a lot of obscure gold merchants available that can cheat clients for a higher benefit. These increasingly faulty gold vendors will in general sell locally at spring up type occasions.

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What is Lean Management and Why is it Beneficial?

May 15, 2020

Lean management is used in businesses worldwide and can be applied no matter what industry you work in. It became popular as it brings a sense of order, aiming to improve projects, operations, and their results. Lean management can be implemented in any business with the right software and skills. Here we look at lean management in more detail and see how it could benefit your business.

Lean Management Explained

Lean management is the road to lasting success within any business, focusing on the value of tasks and thus eliminating waste and maximizing profits, all with the customer in mind. The core principles of any lean management method are set into five steps, all revolving around the customer’s needs, rather than the company or the budget.

First, managers will establish and identify value from the perspective of the customer. This ensures you are delivering a product or service that will work. Next, a plan must be made to make this happen, often called a “value stream map”. The lean management process then seeks ways to continuously improve workflow and identifies any processes that do not contribute to customer satisfaction.

The fourth step is to form a system in which only tasks that need completing at the time are focused on, meaning work will be prioritized efficiently and the team will not be multitasking. The last step is to work towards continuous improvement of these principles, to create a business that runs effortlessly and efficiently.

The basics of any good lean project management system should include:

An easy-to-use platform that can be accessed by all team members, no matter their location
A workflow optimization tool, such as a Kanban board
Collaboration tools
Feedback and improvement loops
Search capabilities

For more information on the steps in lean project management and finding a software that follows these, check out this guide from Kanbanize. Here you can review each step in more detail to understand the benefits behind each and how to begin your journey into managing projects with Lean.

Improved Customer Feedback

When a business puts the customer first, they are more likely to create a product or system that works well. This will improve customer feedback and drives more customers to your business. The customer is the most important part of any business and understanding this will lead to success. If your customer feedback remains negative, taking a lean approach to management can help you to focus on what the customer really wants, rather than what you think they want. While cutting costs in areas may seem beneficial for your business, it may be that you are cutting costs in areas that have a negative impact on customers. Dissatisfied customers can reduce sales and traffic to your website.

Decreased Costs

The lean management approach looks at cutting out tasks that aren’t making a difference to the overall product. When you do this, you can maximize profits. If your product or service isn’t working as it should, putting money into the right things instead of the wrong things could see a huge turnover and more customers interested in your product. While you may need to alter costs initially, over time your budget will be used more wisely, meaning better profit margins.

Better Quality

Quality over quantity is key in lean management. Quality should never be ignored in business and trying to spend less and producing a poor-quality product or service will only come back to bite you. Poor quality doesn’t work well for businesses and lean management allows you to see where you could save money, so you can pour more into the quality. When you establish a great quality product from the start, your products will face fewer problems, meaning less time and money will be needed to go into re-fixing problems that could have been avoided to begin with.

Improved Employee Drive

Lean managers work with their team, with regular communication being the key to success. When employees feel like they are part of the system, they are more likely to want to improve the process and feel empowered to speak up with their ideas. Your team may come from a range of backgrounds, meaning they have ideas they have seen from another business that could improve your workflow and product. When employees feel valued, their drive will increase, and you can retain your best employees. Never underestimate the power of communication with employees.

Lean management is a process that can improve your business and product, making for better sales and improved customer feedback. Using lean management software allows the whole team to see what is happening throughout projects and is a streamlined process to get any business off the ground. Working with customers in mind will ensure the best quality products and services, reducing negative reviews and the losses associated with these.

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The Key Differences in How Financial Regulators Are Re-sponding to COVID-19

May 13, 2020

No amount of planning or preparation could have readied us for COVID-19. Thousands of people are losing loved ones by the week, and the foundation of our global society has been rocked to its core. Once the dust settles on this pandemic, nothing will ever be the same again.

The health and wellbeing of the human race aren’t the only things to have been impacted by the coronavirus pandemic. It has also inflicted an extensive amount of damage upon the global economy. The worldwide financial landscape is facing an unprecedented amount of uncertainty, with many people having to dip into their life savings just to get by.

In an attempt to protect markets, save businesses, and safeguard consumers, financial regulators across the globe are responding to COVID-19 by putting a number of contingency plans into place. But what exact measures are they taking? Read on to find out.

Regulation adaptations

To ensure that the strange, scary and ever-changing predicament that we currently find ourselves in doesn’t leave ever-lasting scars on the global economy, financial regulators across the world are scrambling to change their usual legislative regulations. Here are some of the adaptations that have been made across the world:

The Monetary Authority of Singapore (MAS) have introduced new legislative amendments to ensure that social distancing measures don’t cause any legal or financial uncertainty.
The Office of the Superintendent of Financial Institutions (OSFI) are adjusting the domestic stability buffer. This is enabling their banking sector to utilize their capital to navigate this unexpected negative period of austerity.

Business assistance

Being forced to shut their doors has had a major impact on businesses across the globe. It has resulted in their cash flow taking a hit, which in turn has forced them to let go of their workers. In an attempt to keep companies afloat at this very difficult time, financial regulators have gone above and beyond to offer the following comprehensive levels of business assistance:

To safeguard the financial landscape in Britain, the UK Financial Conduct Authority (FCA) have asked businesses to take ‘reasonable steps’ to meet all their COVID-19 financial regulatory obligations. They will be actively reviewing each firm’s contingency plan.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) have eased reporting regulations to protect businesses that are unable to report their transactions as a result of COVID-19. For the foreseeable future, they are allowing firms to submit a voluntary non-compliance declaration.

Public protection

To quell the devastation that the coronavirus is having on day-to-day life, financial regulators are also putting public protection contingency plans into place. These plans include:

The US Securities and Exchange Commission (SEC)’s Division of Enforcement and OCIE are cracking down on illicit schemes and instances of fraud relating to COVID-19
The European Banking Authority (EBA) has postponed ‘non-essential’ worksite inspections to prevent members of the public catching the disease.

Waivers and deferrals

A large percentage of the global public are currently unable to pick up their full wage packed. In an attempt to protect both the individuals and the companies that they serve, the world’s leading financial regulators have taken it upon themselves to offer payment waivers and deferrals. Here’s how they have responded in this instance:

The China Securities Regulatory Commission (CSRC) have increased support to roll-overs and extended the renewal of due loans.
The Australian Securities & Investment Commission (ASIC) are in the process of providing regulatory requirement relief.

COVID-19 has already caused a sizeable amount of chaos in the financial sector. To limit any further potential damage, financial regulators are now working hard to put contingency plans in place. Only time will tell if their attempt to shield the public from ongoing financial hardship proves successful. For now, we should just be thankful that they have responded in an efficient and timely manner.

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How Do Different Generations Play Video Games?

May 13, 2020

Gaming is one of the biggest hobbies around and thousands of people all over the world enjoy playing video games. The video games industry is currently experiencing a boom, and now it is easy to find great savings on cheap video games – here – as well as many other places. Moreover, it’s only expected to grow from here, but how do the different generations play games, and what and how are they playing right now?

Millennial Gamers [18 – 34]

A 2019 study by the ESA surveyed gamers from across the United States and found a discrepancy between the video games male and female Millennials enjoyed and what platform they played on. According to the ESA study, male Millennials are most likely to play action, shooter, and sports games on their dedicated home console while female Millennials prefer playing casual, racing, puzzle, and party games on their smartphone devices. The survey also found that most Millennial gamers have a creative hobby outside of gaming, usually drawing, painting, singing, or writing.

Gen X Gamers [35 – 54]

The same study by the ESA revealed that there was less of a difference between the gaming habits of male and female Gen X gamers. For example, both male and female Gen X gamers prefer playing games on their smartphone device and enjoy playing casual games such as puzzle games, shooters, sports games, and classic arcade games. However, almost half of all female Gen X gamer respondents said they preferred playing card and casino games including blackjack, and poker.

Boomers [55 – 64]

Finally, the ESA survey found that both female and male Boomer gamers prefer to play casual games on their own than with friends. Male Boomer gamers were more likely to play on PC whereas female Boomers enjoyed playing games on their smartphones more. Interestingly enough, both female and male Boomer gamers reportedly enjoy playing the same games; puzzle games and virtual board games. The survey also found that more than half of all Boomers both male and female enjoyed playing card games over all other types of games.

Generational Habits

From the ESA research, you’ll be able to see that the older the generation, the more likely they are to prefer playing games on smartphone devices, although Millennials are usually the generation linked to smartphone usage. What’s more, the survey also suggests younger generations such as the Millennials, have a tendency to play more with friends than the older generations. However, one of the most interesting pieces of information to emerge from the survey is that older generations are more likely to play and enjoy gambling over other generations due to their overwhelmingly high preference to play card and casino games such as poker and video slots.

“When it comes to online casinos, there isn’t a clear age bracket. We see people from all genders and ages play and enjoy the games although older generations tend to be better at controlling their play whereas the young folks are much more impulsive”, says Thomas Richardson, a researcher at Sister Sites. (More Info: https://www.sister-sites.co.uk/)

Video games have had a long and controversial link with gambling for many years and many believe that video games indoctrinate gambling in young gamers. However, results from the ESA survey have revealed otherwise, suggesting that younger generations have a lower interest in gambling than those who are older. Since the gaming industry is constantly changing and with a new generation of consoles and games on the horizon, it’ll be interesting to see how these statistics change as time goes on.

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5 Challenges that Seasonal Businesses Face

May 13, 2020

Entrepreneurs who own a seasonal business such as a ski resort, boating company, or seasonal product manufacturing, don’t have it exactly easy. Aside from the fact they cater to a lot of clients during the peak season, they also have to ensure their business is striving during the off-season.

Because of this, they’re constantly faced with challenges along the way. That’s why many take out inventory financing to help them overcome the obstacles.

To ensure survival, seasonal business owners must be proactive when it comes to potential problems. Here are some of the many challenges that seasonal businesses face:

1. Maintaining a Stable Cash Flow All-Year Long

According to CB insights, cash flow mistakes are the main reasons for the closure of 29% of failed businesses. Knowing that, seasonal business owners must learn how they can spread out acquired income that sustains their business all year long. For instance, if a landscaping company is most profitable during spring and summer, they must learn how to maximize the cash they have in order to cover slow months.

Cash flow problems are just one of the many challenges that almost all businesses face. However, it can easily be avoided by having a back-up plan, like business loans. A lot of alternative lending institutions offer loan programs specifically designed for seasonal operations. They can also offer flexible rates and terms, as well, which can be helpful in a growing business.

2. Staff Recruitment

Seasonal businesses, in particular, have a hard time retaining their staff. Since some will be closed on their off-season months, staff will only be working during certain seasons of the year. Because of this, there’s a high chance you won’t be able to recruit good workers like you had the year before.

The best way to go about this is to offer your returning workers incentives. If you can afford it, raise their pay if they decide to work with you again. With new employees, make them feel like they’re part of your company and offer them bonuses as well. Make them feel wanted and respected, and they will come back to work year after year for you, which will save your time and energy finding and hiring new people.

3. Controlling Expenses

It’s also common for business owners to be tempted with spending more when cash is abundant. However, they must remember that the cash they receive must be able to sustain their business during the off-season months. So, best you maintain tight control over the expenses that go in and out of the company.

To avoid being confronted with this problem, entrepreneurs should set a budget for their business that they can stick to. They must compute their yearly operating costs and allocate some cash for savings. If there’s still some cash left, they can then make use of it to buy equipment or other things needed in their business.

4. Bringing Profits During the Slow Season

Remaining profitable during off-months is perhaps the greatest challenge that every seasonal business face. Sometimes, the drop in their monthly revenue can be so drastic that they will experience issues with their cash flow if they don’t hold back on their spending. Entrepreneurs need to remember that the survival of their business depends mainly on their cash flow. So, they mustn’t deplete their reserves before the peak-season comes again.

Many seasonal business owners address this challenge by strengthening their marketing strategies during the off-season. Others may employ strategies like discounting products, generating excitement among their audience, or offering deals. You can also offer incentives to your staff during the off-season so they will be more motivated to work harder to sell your products.

5. Inventory Management

Having excess or inadequate inventory can be dangerous for your seasonal business. If you’re selling perishable goods, then it’s definitely not advisable to let them sit untouched for lengthy periods of time. However, the task of managing your inventory can be tough. If you don’t have a proper system in place, you could lose complete control of your stocks and your investment will all go to waste. There are services available for bulk inventory buyers that may help your business get rid of excess inventory.

If you’re having a hard time with inventory management, you can always apply some techniques. For example, the Min-Max system is the by far the easiest inventory management technique. You should also ensure that the stocks that come in first should be disposed of first. Since your cash is tied up in your inventory, you have to also be sure you sell them first so you can get the money you invested on it back.

Do You Need Inventory Financing for Your Small Business?

If you’re experiencing financial problems during the slow season or cash flow issues because of poor inventory management, consider applying for inventory financing today.

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How to Choose Top Online Casinos in Sweden

May 12, 2020

The online casino market in Sweden is unique. You know why? New casinos flood the market every week. In fact, the old ones are often overwhelmed with competition hence they back down after a few weeks of operating.

So how will you choose the top online casinos in such an industry?

It is very simple if you follow this guide properly. The first step is to find out if players within your location are accepted.

1. Location

Firstly, you must ensure that the online casino accepts Swedish players to register on their site. Not all online casinos accept players from other countries. If your location is not allowed on their website, look for another that accepts your region.

2. Casino review

Casino reviews are very important. However, the challenge is that some reviews are fabricated to lure customers to the website. Not to mention, some top review casino sites also fabricate lies to promote some casinos.

Nonetheless, good thorough research will reveal the truth. One example of reliable casino reviews is Swedish casino guide Casino Pro (Casinopro.se).

At Casino Pro you can find correct answers like:

Does the casino payout 100% of the player’s winnings?
Are their casino games rigged?
How long does it take to payout winnings?
What is their wagering requirement?

Note: Nevertheless, if you don’t find bad reviews about an online casino doesn’t mean that they are good. Most times it may be because they are new to the industry and no proper review has been carried out about their operations.

3. Operating licenses

Inasmuch as other points are important, this is most likely what you should look out for always. Find out the licensing authority that gave the casino permission to operate. They are numerous advantages of registering on a licensed online casino with a reputable gambling regulator. For instance, if your winnings are delayed, you can notify the gambling authority.

Therefore, always go for online casinos that are licensed by the Swedish gambling Commission, Malta Gaming Authority, and the UK Gambling Commission to mention a few.

4. Find out their revenue

This is one of the reasons most players don’t get paid after winning a jackpot. Most casinos offer huge prizes but their revenue is very small. So if a player wins a huge amount, it may either pay the winning in small instalments or may not pay at all.

5. Software developers

Software developers are responsible for developing, designing, and launching the games played on an online casino. If you play on a casino that doesn’t have reputable software developers, there is a huge possibility that you may lose your money. For instance, the software developers may program results to be at the favour of the casino.

However, if you play on a casino with reputable software developers like Microgaming, NetEnt, Play n’ GO and so on, their no way the games will be rigged.

6. Customer support

The only avenue to interact with the online casino is via their customer support personnel. If their response to queries takes a long time, then don’t register with the site. Most efficient online casinos have a 24/7 customer agent ready to respond to any query. Always, you chat live with their agents too.

Meanwhile, some also provide email addresses or toll-free phone numbers. Whatever be the case, ensure that their customer support is active and responsive.

7. Website layout

If it is easy to navigate their website without too much hassle, then you can also consider registering with the site. If it is difficult to navigate through the website, then maybe you should consider another option.

8. Deposit and withdrawal option

This may be the last be certainly not the least. Like they often say, the best is left for the last. If they don’t have banking methods that are used in Sweden, stay away! Also, find out their withdrawal timeframe. if it is more than & days, may you need to consider another option.

Good Luck!

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