Monday, October 14, 2019
Both home country and host country in FDI
Both home country and host country in FDI The unprecedented growth of multinationals is due to the concept of globalisation which has no boundaries or limits. Usually within countrys economy there are flows of goods, capital and technology. This leads to high competition in the industry and naturally companies tend to expand their business in order to survive in the global arena. The countries use Foreign Direct Investment as a key to internationalise their business. In order to understand the full meaning of FDI, let us see the definition. FDI is defined as the acquisition abroad of physical assets, such as plant and equipment, with operational control ultimately residing with the parent company in the home country (Buckley, p.35, 1996).In the past 25 years, FDI is growing at a much faster rate than trade and both of these have grown faster than world output (Kozul-Wright and Rowthorn, 1998). There are many factors contributing to the development of FDI. Some of them are Internet, technological advancement, flexible rules a nd regulations of the country and lesser communication costs. FDI stimulates competition, capital, technological and managerial skills which has a positive effect on both host and home countrys economic growth. The importance given to FDI by other country is astounding. One such example is US which has a separate department called Bureau of Economic Analysis. The department monitors FDI inflows and outflows and introduce FDI attraction schemes for successful results. (Graham Spaulding, 2005).This essay analyses various costs and benefits to home country and host country with suitable evidences. Costs and Benefits Let us discuss the costs and benefits of FDI to both home countries and host countries. Benefits of FDI to the host country Hill (2005) suggested that there are three main benefits to the host country derived out of FDI. They are resource transfer effects, employment effects and balance of payment effects. Whenever a company invests in a foreign firm, the resources are capital, technology and managerial skills. In terms of capital, the host country will have a higher financial status than the home country. The change in technology and managerial skills will have a drastic effect on the operations carried out by the company. In the host country due to FDI, it creates many employment opportunities through which the citizens of that particular country would be benefited. The balance of payments keeps tracks of FDI inflow and outflows through two types of accounts, current account and capital account. The current account is a record of a countrys export and import of goods (Hill, 2005) and the capital account maintain purchase or sale details of assets by the country. By using FDI, the country can achieve a c urrent account surplus (where exports are greater than imports) and reduce current account deficit (where imports are greater than exports). (Hill, 2005) Costs of FDI to the host country The negative effects are termed as costs. There are also significant effects which affects the host country. When a foreign firm establishes with the superior technological skills which can produce quality items at cheaper rates, it adversely affects the domestic producers. Balance of payments are also affected by inward FDI by two sources. When there is a initial capital inflow there must be subsequent capital outflow and this will be recorded as debits on capital account. The second source is due to import of goods from other countries which will be recorded as debits in current account. The foreign firm can alter the economic stability of a country as they will be focussing only on the profit. Eventually all the inhabitants of the country will have an emotional outbreak to apparent loss of national sovereignty. (Hill, 2005) Benefits of FDI to the home country The benefit to the home country also includes the factors similar to that of host country. In terms of balance of payments, what is debit to host country is credit to home country. The outward FDI also leads to creation of new job market with great expertise and necessary skills. Reverse resource transfer effect takes place whenever resources like managerial skills are transferred back to the home country. The profit of the foreign firm goes back to the home country unlike domestic producers which contributes to their country. The home country is exposed to create new market share and it is liable to create many in the future. (Hill, 2005) Costs of FDI to the home country Due to FDI, the home country is mainly affected by capital and employment. Suppose a country A decides to invest in country B, using its capital and technology there will be an addition of financial position to the host country than home country. Even in future, if the country A wants to make any advancement, much focus will be given to the company in country B and implement changes. As a result the production in home country decreases and it sometimes result in shutting down all its operations and completely concentrate on the host country. This badly affects the home countrys economy and employment. (Hill, 2005) Summary of costs and benefits To conclude the discussion of the benefits and costs of FDI, points are tabulated in Table 1 Table 1 Benefits and costs of FDI Benefits Costs Host country Financial resources of MNEs Access to new technology Training of local managers Job creation Capital inflows BOP credits from exports BOP credits from local production of parts Competition of local producers BOP debits on repatriated earnings BOP debits on MNE imports on components Perception of loss of national identity Home country BOP credits from earnings Creation of jobs in higher skill categories Exposure to new markets, managerial expertise and technology Protects market share in competition with other MNEs Initial investment a capital outflow BOP debits from input of low-cost goods Loss of exports for which FDI is a substitute Job losses in low skill areas Source: Hill (2005) The benefit of home country is the cost of host country and vice-versa. After researching for many years, economists have come to a conclusion that host country has more benefits than home country. This is because of three main reasons. The first one is that they own assets like technology and brand name. Second it is very easier to produce in a country where it is going to be marketed than producing in the home country and exporting as it save costs on transportation. It also rules out the problem of licensing and handling unnecessary pressures on production from the government. (World Trade Organization, 1996) The following sections are illustration of FDI costs and benefits. Renault-Nissan Alliance The Renault-Nissan alliance in 1999 is the first business-related and industrial partnership between France and Japan (www.renault.com). The alliance received a great attention as they created a very big impact on the Japanese car industry. Before the association, Nissan was about to bankrupt and incurred a dramatic loss of  ¥700 billion. When it was taken over by Renault with a new management team headed by Carlos Ghosn, a complete restructuring was done. The global work force was reduced by 10 percent, five factories were closed and Nissans shareholdings were sold. These were very high according to Japanese standards (Paprzycki, 2006). The outcomes were astonishing as they recorded consecutive profit in the following years with high operating margins and it was due to combined expertise and technology sharing (www.renault.com). The stealing of market share from its rivals Honda, Mazda and Mitsubishi was a clear indication of its accelerated development (Paprzycki, 2006). From thi s, it is very clear that transfer of managerial skills will have a huge impact in the success of the industry. Mexican Maquiladores Maquiladores refers to an American company on the Mexican side of US-Mexico border. They are owned by US, Japanese and European countries. The reason for these companies to go to Mexico is due to inexpensive labour and low tax (www.about.com). Many US companies including GE, RCA, IBM, Coca-cola and Ford were the first to initiate production in Mexico. Japanese and Korean firms also became major investors in 1982. As a result, it had a positive reflection on employment. It rose from 100,000 in 1982 to 500,000 in 1992. The NAFTA implementation further boosted up to 1.3 million and the region reported for 40 percent of total Mexican exports. The amount of goods exported to US increased from $42 billion in 1993 to $166 billion in 2000. Fords plant in Mexico became the third largest foreign owned manufacturing operation in Latin America. (Jones, 2005) US -Malaysia FDI relationship The economy of Malaysia was badly affected by several recessions like worldwide oil crisis and Asian economic crisis. Its economy again rebounded in 1999. FDI became a key factor in countrys development. Anderson (1993) suggested few factors that attract FDI in Malaysia were undervalued currency, low cost of labour and fairly low inflation rate. Though there are many foreign investors, U.S. companies ranks first in FDI in Malaysia. The companies like Boeing, General Electric, R.J. Reynolds and Bechtel were major American investors. The government provided perfect climatic conditions for American firms to operate in Malaysia. The following factors attracted U.S. firms to invest in Malaysia. The government set up an Anti corruption Agency to prevent corruption in any form. It has the same legal structure so the investors had great convenience in handling their business following the rules and regulations enacted by the government. Moreover there was not any language issue as Malaysia i s an English speaking country. The investors got attracted towards the incentives provided through tax treatment and generous equity ownership. There were also some issues faced by foreign investors. Any foreign investor who wants to start industry must get proper approval from Malaysian Investment Development Authority (MIDA). The approval depends on various conditions which will be frustrating for investors. The other problem faced by investors was that they have to get work permit for foreign workers, which was a time consuming process. The government has several restrictions on total number of foreign workers on their land as it will have a direct effect on countrys employment opportunities (Prempeh Abenna, 2003). FDI has also negative impacts on home country. In case of Malaysia, the American investors violated both Human rights and Workers right. Malaysia faced a severe violation of human rights as pay was very much less than the minimum wage. The working conditions were also not employee friendly because of which workers faced several types of health problems. The company was against in forming labour union and when protested by the government, they complained that forming unions was a violation according to U.S. Generalized System of Preferences (GSP) requirement (Prempeh Abenna, 2003). McDonalds-a worlds largest chain of quick service restaurants McDonalds was started in a suburb of Chicago in 1955. It became the largest fast food restaurant and held one third of US market in 1990. McDonalds opened its branch in Canada in 1967 and later began to open in Europe by making joint ventures. McDonalds influenced the needs of locals and all other local fast food outlets in Germany and Netherlands faced a very tough competition. The local restaurants had to change their style to McDonalds in order to meet customer demands. After that, every step ahead was a success to the company. They had joint ventured with Japanese and very soon became countrys largest restaurant chain. (Jones, 2005) McDonalds operation in Russia, China and India was a clear indication of International expansion. They had 30,000 outlets in 120 countries and employed 250,000 people outside the United States. They established in all major cities and helped students to manage their living by providing part time jobs. Their international operations reported one half of McDonaldss revenues. As time changes, customer needs also changes. Now customers prefer to have a nutritious meal, so McDonalds used their marketing nuances to satisfy their customers. For example, in France items like salads, fresh fruits and Evian mineral water are included in the menu. (Jones, 2005) Conclusion In this essay, we have seen several factors that affect both home country and host country. Every company in the market sees to maximise the benefits and minimise the costs. The goal of achieving maximum profit influences every other decision while investing in a country. So far, we have seen the costs and benefits of home countries and host countries and real time examples are also cited. The primary factors that affect both home country and host country are employment, competition, economic development, technology and management. A success of an industry can be determined by how well these factors are managed by the country practising all rules and regulations adopted by the country in which operations are carried out. The governments also play an active role in framing rules and regulations to derive maximum benefit out of both FDI inflow and outflow. The negotiations are done on every agreement. Only if it is beneficial the operations are performed otherwise they are rejected at the initial phase itself. FDI is also used for improving the infrastructure of economically backward countries. The funding is done by world level organisations like World Health Organisation, World Bank and International Monetary Fund. The infrastructure is provided even in terms of upgrading medical facilities. For example, in Africa money and medicines are provided to eradicate diseases and in India several awareness programmes are being conducted about HIV prevention. The money invested in the country can also be used for constructing roads to remote areas which will help in transportation of medicines and in situations like floods and other natural disasters. It can also be effectively used for training unskilled labour by conducting educational programmes that would benefit them to get into any industry (www.economywatch.com). The extent to which a country can be benefited out of FDI is solely decided by the government and foreign firms. Many foreign firms involve actively in promoting social and enviro nmental factors. The government can give tax exemptions and other incentives for the companies that benefit their country.
Sunday, October 13, 2019
Why Do We Believe In Angels :: essays research papers
In various retail stores today, you will find many angel knickknacks. Angles are truly believed in by today's society. The retail ranges from books to clothing to toys. Most recently, over 200 books about angels are in book stores, and several million copies have been sold worldwide (Dumas 59). Why do people buy this merchandise if it can not be proven that angels are real? Believing in angels is like believing in God. If you don't believe in God, just look around at the things around you and conclude how everything was created (Angel Wings).      Do angels really exist? Everyone wants to know about everything around us. If the person on the street is holding a sign saying 'will work for food'; was really an angel in disguise. Or the women that arrived just in time to save a runaway car full of three small children. Was she really an angel? In the bible in Hebrews 13:2 it says 'Be not forgetful to entertain strangers for thereby some have entertained angels unawares.'; There are over 300 references in the bible about angels. For example, in the new testament angels announced the birth of Christ, in Luke 2:8 angels told shepards where to find the infant Jesus, also in Luke an angel went to a tomb of Christ to announce his resurrection (Auburn University 1).      Billy Graham wrote a very good perspective of angels in his book Angels: God's Secret Agents. He stated:      Lucas 2      ' I am convinced that these heavenly beings exist and that they provide           unseen aid in our behalf. I do not believe in angles because someone has           told me about a dramatic visitation from an angel, impressive as such           testimonies may be. I do not believe in angles because UFO's are                astonishingly angels-like in some of their reported appearances. I do not           believe in angels because some ESP experts are making the realm of the           spirit world seem even more plausible. I do not believe in angels because           of the sudden worldwide emphasis on the reality of Satan and demons. I           do not believe in angles because I have never seen one- because I haven't.           I believe in angels because the Bible says there are angels; and I believe the           Bible to be the true Word of God (Hilbb 2) .';      In an essay by Linda Ray, she stated her belief about angels. She wrote that she believes in angels because God's word, the Holy Bible, tells her they are real, giving many accounts of the activity in the lives of people on earth.
Saturday, October 12, 2019
The Role Played by the International Force for East Timor in the East T
The Role Played by the International Force for East Timor (INTERFET) in the East Timorese Efforts to Achieve Independence Introduction East Timor (also called Timor-Leste in Portuguese) is a country in Southeast Asia. It was a Portuguese colony from the 16th century up until Portugal’s decolonisation in 1975. In 1976 Timor-Leste was invaded by Indonesia who sought to expand its territory. This lead to the development of long guerrilla warfare between the East Timorese who wanted their independence and the Indonesian troops who suppressed the East Timorese efforts to independence. This struggle for independence lasted from 1976 until 1999. This led to the deaths of a third of the East Timorese population due to conflict related causes. Following the fall of Indonesian President Suharto, the UN endorsed an agreement between Indonesia and Timor-Leste. Indonesia agreed to, albeit reluctantly, hold a referendum in Timor-Leste for independence or integration into Indonesia. This referendum was held in August 1999 and it was supervised by the UN. The votes in favour of independence were in the majority. However, th e referendum was followed by a violent reaction by the pro-integrationist East Timorese population, which were supported by Indonesian elements. The international community was very much appalled by the violence following the referendum and there was a change in the international climate in terms of humanitarian intervention following NATO’s intervention in Kosovo, the UN’s failure to act in Rwanda, and also the inaction of the international community in Bosnia. The change of international climate led to decisive action for Timor-Leste. Under the aegis of Australia, Indonesia reluctantly consented to the international pe... ...tribution to Asia-Pacific security architecture, Pacific Review: St Antony's College, Oxford, 2003. 2. Taylor, John G. East Timor: the price of freedom ( Zed Books) 1999 3. Vincent, R. J. Non-intervention and International Order. Princeton: Princeton University Press, 1974. Online sources 1. Department of Foreign Affairs and Trade country/economy fact sheet on East Timor, Canberra, (Website). www.dfat.gov.au. 2. Kofi Annan, ‘Two concepts of sovereignty’, The Economist, 18 Sept. 1999, pp81-2 at p. 82. 3. "Operation Astute, Timor-Leste," Department of Defence, Canberra, (Website) www.defence.gov.au. 4. Security Council Authorizes Multinational forces In East Timor http://www.un.org/News/Press/docs/1999/19990915.sc6727.doc.html. 5. United Nations Security Council Resolution 1272 S-RES-1272(1999) in 1999 (retrieved 2008-04-12)
Friday, October 11, 2019
Main Conflict in the Terrible Transformation
The main conflict about the The Terrible Transformation was the way they started a new social and economic system by practicing slave trade. They would determine your freedom based on your skin color. European traders would go to west africa and bring slaves over to the united states so that slave owners could purchase them to work on their crop fields. This was very unfair because they sold colored people to benefit themselves economically. That is why the free blacks rebelled against society and returned the brutality their masters had shown them. The European traders would kidnapp the African slaves and have them walk almost 1000 miles to the European Coastal forts. Only half of the people survived the ones who were too weak or sick were either killed or left to die. They traveled for almost 4 months across the Atlantic ocean. The Africans were treated like animals while they were being transported to the Americas. After they were enslaved and The Declaration Of Independence took the place the enslaved Africans made petitions to end slavery but nothing ever happened. When they were free they rebelled because they were denied citizenship. The Africans were clearly affected more than anyone involved in this. Sadly they were taken from their homeland, and used as objects to benefit the wealthy people economically; which of course was the rich white americans. Therefore after they complete the labor they were assigned and are set free the least thing the government officials could’ve done was grant them citizenship. Europeans would do this because having someone work for free , would help them gain more land. The more slaves they brought in and sold the more land they obtained . It was a very unfair thing to do . Footnotes: Source: â€Å"The Terrible Transformation†Documentary The reason the slaves acted they way they did was because they lied to them. They had a real good reason to rebel the way they did. If you promise someone something you should keep your word. The Africans looked forward to obtaining their citizenship , after working so hard to obtain their freedom. I don’t blame the salves for doing this, it’s only common sense. The reason they didn’t grant the free blacks citizenship was because this probably wouldn’t benefit them. If the blacks obtained their citizenship they would have greater opportunities to do things and obtain land. See, if this were to happen the whites would loose land. This was quite unfair, i am not surprised the blacks rebelled the way they did. The reason the blacks rebelled the way they did was because they were angry at the fact they got lied to. They felt that God had given them the power to rebel against the white masters that were once brutal to them. There was more blacks than whites, if you combine slaves along with freed slaves they outnumbered the whites. The blacks did this to gain respect, because technically whites wouldn’t respect them because they thought blacks had no power. This was to show they weren’t so weak and that no one had the right to take advantage of them just because they weren’t white. This is why the blacks rebelled the way they did.
Thursday, October 10, 2019
Acid and Base Report Qualitative Data
Acids and Bases Labs Report Aim: To study the characteristics of acids and bases. Experiment 1 Magnesium Ribbon with Sulphuric Acid Observations | |Material/substance |Rate of reaction |Bubbles |Initial colour |Final colour |Other Observations | |H2SO4 |N/A |N/A |Colourless |N/A |Acid | |Mg |N/A |N/A |Silver Metallic |N/A |Metal | |Mg SO4 |High rate |Yes- High rate |Colourless |Colourless |Heat is produced. | | | | | | | | | | | | | |Acidic smell | |Hydrogen gas was produced. | | |Test: Burning Splint | |Result: Popping sound | |Overall Chemical Reaction | |Word Equation: Magnesium + Sulphuric Acid ( Magnesium Sulphate + Hydrogen | |Chemical Equation: Mg + H2SO4 ( Mg SO4 + H2 | 2. Calcium Carbonate with Hydrochloric Acid Observations | |Material/substance |Rate of reaction |Bubbles |Initial colour |Final colour |Other Observations | |HCL |N/A |N/A |Clear |N/A |Acid | |Lime Water |N/A |N/A |Clear |N/A |N/A | |Ca CO3 |N/A |N/A |White |N/A |Salt | |Ca CO3 + HCL |High rate/ Fast | Y es.High rate/ |Milky, Cloudy |White, Cloudy, |Heat is produced. | | | |Fast | |precipitate formed | | |Observation of Final solution: Final solution was cloudy with precipitation. | |Overall Chemical Equations | |Word: Calcium Carbonate + Hydrochloric Acid ( Calcium Chloride + Carbon Dioxide + Water | |Chemical Equation: Ca2CO3 + 2HCL ( 2CaCl + CO2 + H2O | 3. Almost equal amounts of sodium hydroxide and nitric acid (same concentration) Observations | |Material/substance |Rate of reaction |Bubbles |Initial colour |Final colour |Other Observations | |HNO3 |N/A |N/A | |N/A |N/A | |NaOH |N/A |N/A | |N/A |N/A | |HNO3 + Indicator |N/A |N/A |Strong Pink/ |rose pink/ clear |Test with PH paper; | | | | | |PH 1, maroon | |NaOH + Indicator |N/A |N/A | | |Test with PH paper; | | | | | | |PH 14, Dark purple | |HNO3 + NaOH |High rate/ Fast | N/A | | |Heat is produced. | |Observation of Final solution: Final solution was cloudy with precipitation. | |Overall Chemical Equations | |Word: Calcium Carbonate + Hydrochloric Acid ( Calcium Chloride + Carbon Dioxide + Water | |Chemical Equation: Ca2CO3 + 2HCL ( 2CaCl + CO2 + H2O | 4. Copper (II) Oxide with hydrochloric acid Observations | |Material/substance |Rate of reaction |Bubbles |Initial colour |Final colour |Other Observations | |CuO |N/A |N/A |Black |N/A |Black powder | |HCL |N/A |N/A |colourless |N/A |Acid | |CuO + HCL |Fast |N/A |Black cloud, opaque|Turns aqua green, |Heat is produced. | | | | |clear, translucent | | | | | | | | | | | | | |Black CuO settles at| | | | | | |the bottom of | | | | | | |apparatus. | | |Overall Chemical Reaction | |Word Equation: Copper (II) Oxide + Hydrochloric Acid | |Chemical Equation: CuO + 2HCL ( CuCl2 + H2O | 5. Ammonium chloride solution with sodium hydroxide Observations | |Material/substance |Rate of reaction |Bubbles |Initial colour |Final colour |Other Observations | |NH4Cl |N/A |N/A |Colourless |N/A |Powder | |NaOH |N/A |N/A |Silver Metallic |N/A |Metal | |NH4Cl + NaOH | | | | |Test with PH paper, | | | | | | |purple ( greater than| | | | | | |7, alkaline | | | | | | |(basic) | | | | | | | | | | | | | |Acidic smell, pungent| |Overall Chemical Reaction | |Word Equation: Ammonium Chloride ( Ammonium Hydroxide + Sodium Chloride | |Chemical Equation: NH4Cl + NaOH ( NH4OH + NaCL |
Wednesday, October 9, 2019
Ancient Homosexuality Essay Example for Free
Ancient Homosexuality Essay The modern self is primarily built up of one’s history, body, religion, politics and entertainment – a Freudian composition of what identity is. And all of these things, the very factors that make the modern self the way it is, roots from the ancients. Cicero once thought that without the knowledge of the past, once shall remain a child, hence, Simon Goldhill’s Love, Sex and Tragedy: How the Ancient World Shapes Our Lives. With Cicero’s principle in mind, Goldhill wishes his readers to have a full understanding of who they are and how they came to be the way they are. Among the very controversial societal issues that Goldhill discussed pertained to homosexuality. Sexuality, in the time of the Greco-Romans, meant a love-affair with the phallus. They paraded it in the theatres, processions, public road, and even public memorials. The phallus was part of the classical man’s body, sexuality and sensuality – which, by the way, not only applies to men, but for females as well. The Greco-Romans had a profound relationship with sexual organs and acts, which, the modern man – apparently influenced by the rules of Christianity, might find obscene. A part of Simon Goldhill’s discussions on sexuality is the root of homosexuality. The Greeks had a particular fondness over a scenario where a bearded male desires a beardless lad. In today’s terms, this is the so-called pedophilia, as practiced through the inter-crural activity. This involves the placing of one’s penis between the partner’s thighs, may it be front or rear, followed by thrusting to attain sexual pleasure. Greeks from the seventh century, reinforced pederasty among men from the upper-class society, especially in their twenties, to acquire a young boy approximately aged 12 to love and nurture until he grows to marry at age 30, and later take a boy of his own. Practicing pederasty reinforced late marriage for these males, in the hopes of reducing the possibility of overpopulation, as well as to improve the education – initiation and instruction, of the ancient Greek youth. On Greek vases, one can find a picture of the bearded man – erastes, and the beardless youth – eromenos, as the erastes touches the eromenos’s genitals. The erastes takes the intiative as the eromenos remains passive. But, the ancient Greeks prohibited the relationship between a bearded man with yet another bearded man, and it was shameful that a bearded man becomes the passive one – or pathikos. The pedagogical pederasty is an illustration of a father-son relationship, where the erastes acts as a substitute father to help the young lad on his way to manhood, maturity, and to orient him to become a productive part of the society. The erastes demonstrates this affection by little presents ranging from a bottle of oil to money. The relationship was beneficial in both parties – the erastes provides education, protection, love and a role model for the eromenos – who offers beauty and admiration in turn. In modern theory, this is called sexual reciprocity. Gay does not necessarily mean one is less man or woman than a heterosexual. The ancient Greeks have never defined it in that way. Pedagogical pederasty and the sexual reciprocity that follows it are acts that only show the so-called love – in whichever form you wish to see it, may it be erotic or platonic. However, if we do know the origins of homosexuality, how does it actually affect us as individuals? We do obtain the full understanding of our identities in terms of our sexuality, and the understanding of others’ sexuality. This book simply implies the basic lesson of respect. Ancient Homosexuality. (2017, Mar 09).
Tuesday, October 8, 2019
The Billabongs Development Case Study Example | Topics and Well Written Essays - 2250 words
The Billabongs Development - Case Study Example The name of the company- Billabong, means 'a place of stagnant creek water'. Billabong’s logo has 2 parallel and motionless waves. According to the Merchants, this was meant to depict the uniqueness of the Aboriginal culture and its interpretation of an oasis. The main factor that distinguished Billabong’s boards from those produced by other local companies were the triple-stitching method which made Billabong’s surfing boards short and thus more durable.When Billabong first began to market its products to the Australian market in 1975, its products were well received. This allowed for the company to be able to create more products and thus increase sales. By 1981, the Merchants had been able to move to a larger headquarters and reached $1 million in total annual sales. To gain more publicity for their company, they funded competitions such as the World Final Surfing. Billabong would soon branch into other nations such as South Africa, New Zealand, Japan, and the United States. As the brand grew in popularity, the Merchants made the decision to begin creating other sports apparel. They began to experiment with manufacturing and marketing artifacts such as snowboards. In all the expansion efforts, Gordon Merchant was at the forefront of designing and marketing new brands.The surfing industry would witness great development all through the 1990s as professional surfing profited from a newfound respectability. By the end of the 1990s, the Billabong Corporation had been restructured to take advantage of the growing international opportunities in the sector of board-related sports.
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