Africa, in general, has been spared from the mortgage meltdown ravaging other nations. But it doesn't mean that they've avoided the effects of the backlash. A decline in foreign investment and trade has left the nation of Ethiopia with a currency crisis. The drought of foreign currency has made it difficult for the struggling nation to purchase the things it doesn't make at home. Coca-cola has been a staple for most Ethiopians since the first bottling plant opened in 1959, but now the nation's beverage shelves are bare. It's not that there isn't plenty of the cola and bottles to put it in, the problem is there are no tops. The nation has run out of the spongy rubber material necessary for the lining of the cap and it's brought production to a standstill. The result has been a devastating impact on employment in the nation as it is estimated that tens of thousands of jobs are related in someway to the bottling, delivery, and distribution of this iconic drink. Click on the title above to read a brief article on the effects.
Man, that sucks a lot, no Coca-Cola? what are we gonna do now? It's a sign of the apocalypse... Really, there are bigger problems in the world right now than a shortage of Coke in Ethiopia. I mean, i really feel for them because Coke tastes awesome, but really? Banks are failing left and right, economies are going down the drain, as well as people losing their life-savings. Maybe, just maybe there are some bigger problems to deal with right now.
ReplyDeleteAndres "Doctor Dre" Uribe
Wow, I guess nothing really does last forever. It's amazing how much countries depend on each others. Globalization is extremely evident in this article. It's almost frightening that countries depend on each other, when one country's economy is falling, therefore less spending, another country begins to feel the effects as well. Though much more personal at home and the downward trail of the economy more difficult here, but other places are feeling it, too. And if the stronger economic countries start to distrust investing in the less stable economies, that can mean big trouble for the less stable economies.
ReplyDeleteYes, it's just Coke and it's not a major crisis compared to the downward spiral of economies and failing banks, but when Coke HAS to temporarily shut down productions, that means no profit is being made and less or no employees are needed. Yes, it's said that the workers are on forced leave and still have full pay, but how long can that last? When the company is not making a profit and still paying their employees, how long can that 'money pile' last before it goes bankrupt (Dramatic, but not impossible and hopefully situations won't reach to that level).
Christina Chang
ethiopia has taken on many challengers. Mousallini in WWII, the two coups, the aids crisis but dang.....COKE!!!?. NO!!!!!!!!!!!!. everyone loves coke, i dont care if you live brooklyn or bombay, toronto or timbuktu( hope i spelled that right). Its the number one recognizable word in every continent followed of course by michael jordan. For me, the recession in America somehow effecting a 3rd world country like that is crazy. I hope that the upcomming meeting of heads of state.
ReplyDeleteThis story can be seen as a minor concern to Americans like us who have bigger problems to worry about, but I don't think that this article was meant to rival with a story about thousands of families becoming homeless and abandoning there children. Some key words were that the factory was shutting down TEMPORARILY and that the workers were STILL BEING PAID. I think this article was written to make someone like us think about the world around us for a chance rather than being so focused on what's happening at home. Also this could mean that the most powerful force on EARTH is the coca-cola company because it did what nothing or no one else could do in Ethiopia. But all joking aside this does not seem to be something to stress over, but more like a lightbulb clicking on to shed some light on how our economy can effect another country's economy. Who knows, this could just be the calm before the storm of a world where there is no coca-cola, personally I think this is a huge marketing campaign by the Pepsi corporation, TOTAL TAKEOVER!!!
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ReplyDeleteNick Gonzalez
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