Russian Central Bank Forecasts Winter of High Inflation


Picture credit : Kacper Pempel / Reuters. Source: http://www.themoscowtimes.com

 

Russia’s surging inflation rate will remain high through spring of next year, propelled by the devaluation of the ruble currency and the steep cost of Moscow’s bans on food imports from Western countries that sanctioned it over Ukraine.
The rapid tumble of the ruble, which has lost a third of its value so far this year, has accelerated inflation by raising the price of foreign imports.
The Russia ban on Western fresh products imports has triggered a rise in locally produced food prices such as pork and poultry.
Lack of competition from cheaper imported products is  benefiting domestic producers. so for Russian consumers everything is getting more expensive.
However sanctions are not the major problem when it comes to the ruble,. The two main factors that contribute to weakening  of the Russian economy are:
1-The costs of borrowing money, which increased even more than a year before the Western sanctions over Russian banks were applied in September.
2–The sharp decrease of  the oil price under $100 per barrel. The OPEC announced late on November 27 that the oil cartel would not cut production, sending the price of oil  around $70 per barrel.  The announcement also sent the Russian ruble lower to the U.S. dollar and euro. The ruble dropped to over 50 against the U.S. dollar late on November 28 and dropped to 62.03 against the euro in early trading recovering to 61.41 by the close of the day.

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Where are you really from ? An Expat Perspective On Racism


Womanblackman

I found the question in this article very interesting:   Is It Racist to Ask People Where They’re From?
As an expat, I am asked all the time where are you really from ?  and I usually have different answers for different audiences. However to many expats, they don’t feel comfortable with this question especially if they have been living in a foreign country for quite a long time and interpret the question as obviously you are not from there, you are different.
After 25 years of expatriation, I still have some mixed feelings about this question but sometimes it is good to feel different and not from “here”.  Being a French in France is actually harder for me than living abroad, I don’t know anything about popular TV shows or the secret lives of French politicians and I have often a very different view on sensitive questions as I am living on the “other side”.
When I lived in Japan in the 90s I obviously did not look Japanese and I have been asked frequently where I was from, but at that time, being French and saying I was from Paris, were magic words and I was very well treated both at work and with perfect strangers in the streets. I was kind of “exotic” there. However Caucasians were better treated than non-Japanese Asians, especially Chinese, Koreans or Filipinos.
In the US, when I lived in New York City and 8 months pregnant, strangers were giving me a “god bless you” very often, then we had the 9/11 dramatic events and my son was born 12 days later. However I got unpleasant remarks when I said I was French because at that time the French president and the government refused to send troops to Baghdad as if I had anything to do with this decision.
Altogether I had a very positive experience in NYC. I also lived in Atlanta and we were very well-integrated partly because of my son being at the Atlanta International School but generally speaking, Atlanta is a very international city. However I was shocked to see that nothing really changed since Martin Luther King Jr, I saw a lot of segregation between African-Americans and White Americans. Each community including Latin American people had their own neighborhood with very strict boundaries. I then realized that America was far from being a melting pot !
Then we spent one year in New Jersey and it was painful to have in the neighborhood listing “the French” instead of our family name.
Now we live in Russia, I don’t have any specific problems with racism, the “where are you from? ” is still there since my Russian is pretty basic but unlike the stereotypes, I find Russians very courteous with men giving their seats to women in the Metro for example. But here again even for wealthy expatriates,  it is better to be a Caucasian than having a dark skin color.

How do you feel about being asked : where are you really from ?

Related Article:  Encountering racism abroad — or why I sometimes wish I was white

7 Most Common Thinking Errors Expatriates Make


I am going to focus mainly on people moving abroad or expatriates going back home but the theory applies to anybody experiencing  emotional stress when moving to unknown environments.

During  big life changes, we experience stress, overload, or threat and often lose control of our emotions and make “thinking errors” or distortions about the reality. Our thinking process starts by interpretation and processing events that leads to our emotional and behavioural responses. Since a wrong thinking leads to a wrong behavior it is important to be aware of our thinking.

Many people heard about “culture shock” but most of the new expatriates are not aware of what that process means to them until they are really confronted to a succession of emotional ups and downs. Same with the grieving process, also called “reverse culture shock” that most expat families experience when they return to their home country.  In both cases our states of mind impact our well-being. Here a great video that explain the “repat grief “.

Professor Aaron T. Beck, first described the theory behind “thinking errors” or “cognitive distortions”  that  our brain make under stress that impair our judgement of a situation leading to poor decision-making, irrational behaviors or depression.

Here the 7 most common “thinking errors”,  or “cognitive distortions”, expatriates make when experiencing culture shock or reverse culture shock

1. Filtering-failure to consider a neutral, or balanced, point of view

Evidence that supports your bias is selected, favored, or weighted more heavily than evidence contrary to your bias. We take the negative details and magnify them while filtering out all positive aspects of a situation. For example you may conclude that everything was better before you moved abroad and you are constantly whining about your new life: the food is bad,  traffic is terrible, people are rude etc. You are so focused on the negative that it is hard for you to meet new people or learn about your new culture thinking your expat life is like being in jail.

2. Polarized Thinking -evaluating experiences on the basis of extremes

In polarized thinking, things are either “black-or-white.” It implies that something can only be one or the other, but not both. Consider the image on the left, an optical illusion, demonstrating the limitation of our visual perception system:  we can only see either the old lady or the young woman at any one time but not both. Taking sides polarizes opinions and hardens attitudes, creating conflict and separation between different cultures. So be careful if you are abroad and embarked in a political or religious debate,  people passionate at those topics typically have strong opinions about what is right or wrong and you may jeopardize good business deals by giving a polarized opinion, so be subtle.

3.Jumping to conclusions

The Ladder of Inference describes this type of  thinking process starting from our perception and interpretation of a fact to a decision or action (see right).

It is very easy to get into trouble when we don’t know the social rules and etiquette of a new culture and filter other people attitudes according to our own cultural rules. For example we might think that a certain group of people are not sincere because they don’t look straight in  the eyes when talking, while it is interpreted as rude by many Asian cultures.

For example :

  1. Fact :Julie is late at the meeting
  2. Interpretation: Julie does not care about this important meeting
  3. Assumption : Julie  is French and I know two other French people who are often late too
  4. Conclusion : French cannot be trusted

It is interesting to note that time has not the same value in different cultures, Latin cultures like the French see time as elastic, being 15 minutes late to a meeting is not considered impolite or showing lack of interest, while in North American, time is money and you are supposed to arrive just on time at meetings.

4. Overgeneralization.

In this cognitive distortion, we come to a general conclusion based on a single incident or a single piece of evidence. If something bad happens only once, we expect it to happen over and over again. For example we can have our wallet stolen and conclude that the all country is unsafe while in reality this event could have happen anywhere.

5. Blaming.

We hold other people responsible for our pain, or take the other track and blame ourselves for every problem. Nobody can “make” us feel any particular way — only we have control over our own emotions and emotional reactions. For example a frustrated accompanying spouse may feel resentful towards the working partner because she thinks she made all the efforts having left behind, friends, family and often a  rewarding career and gain nothing in return but struggles.

6. Shoulds.

We have a list of ironclad rules about how others and we should behave. People who break the rules make us angry, and we feel guilty when we violate these rules.  When a person directs should statements toward others, they often feel anger, frustration and resentment. For example “My colleagues should never speak their own language when I am meeting with them, that is really rude “

7. Always Being Right.

We are continually on trial to prove that our opinions and actions are correct. Being wrong is unthinkable and we will go to any length to demonstrate our rightness. For example, “I don’t care how badly arguing with me makes you feel, I’m going to win this argument no matter what because I’m right.” In companies where there is a tendency to take all decisions at the Headquarters (ethnocentric culture), this attitude could encourage expatriate executives to patronize their local teams instead of favoring a dialogue and generating new ideas

If you are experiencing  those kind of  struggles, it won’t help if I tell you that almost all expatriates have been in your shoes, but talking to a professional coach, may make your life easier in only few sessions. Talk to me and check how I can help you.

Related articles:

What Skills To Look For Hiring Global Executives ?


The most difficult challenge for an expat executive like a country general manager is to be able to find congruence between various opposite interests in a highly complex environment (see picture above).

The expat executive must be able to deal with local issues such  as specific regulations and laws then explain clearly the specificity of local markets and “sell” his decisions vertically and horizontally. Be able to dismantle silos in a matrix-type organization, managing up with board members, making internal alliances with peers and encouraging bottom up initiatives from multicultural cross-functional teams.

As an expat and multicultural team leader who lived and worked for 20 years in more than 10 countries for various industries and different management functions, I have seen many successful expat executives sharing same characteristics that for me are key skills to look for when considering sending people to international assignments or hiring locals at senior management level :

1- Attitude: Look for people who are leading by influence, able to federate people across cultures, able to lead trans-functional and virtual teams worldwide. Suitable personalities have high EQ and are pragmatic, open, curious, learners, risk-takers, negotiators, diplomats.

2-Cultural Intelligence: Knowledge about local customs,cultural traits,norms,social and business etiquette. Basic “survival” language skill is enough in most cases as business is often conducted in English. Don’t make the mistake to hire a local manager because he can speak English, check his leadership and technical skills.

3-Mentoring and Coaching Skills Usually an expat is sent from the HQs to share some technical knowledge or implement global processes such as performance evaluation. In each case make sure the person is  able to “glocalize”  or adapt locally  the company’s global vision, mission, values and principles, One very good example of “glocalization” of corporate culture is Starbucks

The challenge for global companies is to be able to have the right process to assess people globally both for internal succession planning, talent management or hiring new managers. Three components should be considered:

  1. Technical skills: operations, finance, markets, regulations, innovation, HR etc.
  2.  Leadership style: Top-down, bottom-up, influence, networking, lobbying, foster creativity
  3. Cultural intelligence: Group or individualistic cultures, knowledge of cultural dimensions, able to create a third culture team

Eight Things You Should Do On LinkedIn As Soon As You Get Laid Off


After I posted a story last week with the headline, “What To Do As Soon As You Get Laid Off,” I hosted a chat on Forbes’ LinkedIn page and fielded questions and comments from readers. One comment came in from UK-based Jack McLaren-Stewart, who works in sales for a company […]

Source: www.forbes.com

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22 Things Happy People Do Differently – Successify!


There are two types of people in the world: those who choose to be happy, and those who choose to be unhappy.

 

Contrary to popular belief, happiness doesn’t come from fame, fortune, other people, or material possessions. Rather, it comes from within. 

Source: successify.net

22 things that should become habits.

 

Coach tip: Start writing in a journal your daily activity based on this list

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What Does Interculturality Mean ?


 

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A number of studies on the development of intercultural skills and competences have shown that first-hand experience of ‘otherness’ and even sojourns in a foreign country are not sufficient conditions to foster interculturality.

Both study abroad and intercultural education literature state that, in addition to experience, intercultural learning needs reflection and analysis, and that immersion in a different culture does not in itself reduce stereotypical perceptions of otherness.

Interculturality does not mean comparing two or more countries, nor learning to adapt to a specific ‘national culture’.

Rather, the concept implies, for example:

  • Understanding how different types of identities (eg gender, age, racial, ethnic, national, geographical, historical, linguistic) impact on communication with others
  • Interpreting what people say about their culture as evidence of what they wish others to see about themselves, rather than as the ‘truth’ about a particular culture
  • Exploring the role of power in dominant discourses (media, political, institutional) and reflect on how these discourses affect the way we perceive people from other backgrounds.

Read Full article : Mobility is not a value in itself: intercultural education resources for mobile students – European Association for International Education

Related articles: 

 

 

The Chemistry of Positive Social Interactions In Leadership


 

 

 

 

 

Oxytocin has been described as the molecule of social connection associated with positive traits like trust, cooperation, and empathy.

Judith and Richard Glaser published an article in HBR on the results of a study that analyzed the hormonal response of positive and negative behaviors in managers. Source: blogs.hbr.org

Oxytocin is the hormone that we produce when we feel good during a conversation like positive feedback. Cortisol is the hormone of stress produced when we have fear of being criticized or rejected.

Cortisol stays much longer in the blood than oxytocin that is why we remember more negative comments than positive ones.

So the article suggests to be mindful of the behaviors that open us up, and those that close us down, in our relationships:

Behaviors that send positive messages:

  • Concern for others
  • Curiosity
  • Paint picture of mutual success
  • Open to difficult conversation

Behaviors that send negative messages:

  • Don’t trust others
  • Focus on convincing others
  • Pretend to be listening

Separately  I found other interesting studies showing that oxytocin levels increased in dog owners and their dogs after physical contact: Psychosocial and Psychophysiological Effects of Human-Animal Interactions: The Possible Role of Oxytocin

There is also evidences that oxytocin doesn’t make people more moral or immoral. It shifts people’s focus from themselves to their group or tribe . As a consequence, people may also exhibit more racism and intercultural or inter group clashes when those behaviors favor the group interests (Carsten de Dreu: Does the ‘love hormone’ foster racism? ).

“When you give preferential treatment to your in-group as ethnocentrism, you implicitly indirectly discriminate against people who do not belong to your in-group. And they feel that, they feel resentment, they may protest, so indirectly, it could be that oxytocin contributes to inter-group tensions” Carsten de Dreu

What oxytocin does is that once you see people as [belonging to your] in-group, you come to like them even more. Oxytocin doesn’t make you a racist; it makes you like and commit to your in-group.

Expat Life: Culture Shock May Be Inevitable But Pain Is Optional


cultureshock

At one point or another new expats will get a “lecture” about “Culture Shock” as it is explained in this video:

Not every expats experience that sequence of emotional reactions and saying this is “normal” is not removing the pain or discomfort. Often people who do not experience this “one size fits all” approach may feel “abnormal” or less competent than typical expats and sometimes think they are a failure not able to cope with their struggles while living abroad.

It is important to acknowledge first the feelings without judgement and then look at individual best coping strategies. You can’t change things you have no control about but you can change the way you think and from a new perspective make necessary changes to get the most of your expatriation.

Sometimes friends are not enough and it is important to allow yourself to find professional help.

If you need someone to deeply listen to you and help you solve issues you have as an expatriate, Please Send Me Your Message  for a complimentary coaching session

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