Chapter 1-Reforming through the tough times

http://www.economist.com/businessfinance/displaystory.cfm?story_id=14413372

Summary

The article talks about a World Bank report. This World Bank’s latest progress report is optimistic about the economy. It tracks changes to the regulations that affect business, and suggests that governments have handled the storm well. Since June 2008, 131 countries introduced 287 pro-business reforms—20% more than in the previous 12 months. The reform helps reducing in the cost of doing business, which leads to higher rates of growth and entrepreneurship. At the end of the article, it reminds us how far there is still to go in getting business regulations right.

Connection


Chapter one tales about overview of corporate financial reporting. Reports like this one helps stimulating economy. They will give investors confidence towards the market. Investors can use these reports to understand what the market will be or change into so they can make responsible decisions . The economy finally starts to recover from the crisis. We should have the right attitude about the economy. And the reports are useful for shareholders in corporations as well. Shareholders can guide big corporations onto the right truck. In capitalism countries, big corporations are significantly important to the enconomy.

Reflection

It is important for us to know how to read and gather information from these reports. Those reports are the results of analysis and research by many professionals, and reading them right can make great efforts. If we want to develop more in this area, our ability of analyzing reports could decide our future accomplishments. Economy environment is also important for us to understand. As now the economy is recovering, we need to "see through" it to practise our vision as an accountant or a manager in the future.