economy 11 Information Economy Policy Reversals Coming to a Marketplace Near You! By circleid.com Published On :: 2024-11-12T16:16:00-08:00 In the wake of the election, sweeping policy shifts in the information economy are set to accelerate. Expect fast-tracked FCC reforms, Starlink subsidies, and AI-driven oversight to redefine media, tech, and regulatory landscapes. From relaxed antitrust to intensified media control, these eleven reversals signal a move toward deregulation and Chicago School libertarianism, with lasting impacts on U.S. markets and governance. Full Article
economy Peasants and Lords in the Medieval English Economy : Essays in Honour of Bruce M. S. Campbell By search.lib.uiowa.edu Published On :: Location: Electronic Resource- Full Article
economy The box : how the shipping container made the world smaller and the world economy bigger By search.lib.uiowa.edu Published On :: Location: Engineering Library- TA1215.L47 2016 Full Article
economy The Art of Sleeping Comfortably in Economy Class By www.avjobs.com Published On :: Fri, 4 Aug 2023 02:01:53 -0400 The Art Of Sleeping Comfortably In Economy Class Nathan Chen... Full Article travel travel-tips airlines traveling flight
economy How to navigate the green economy: Here are four success stories By www.latimes.com Published On :: Mon, 9 Sep 2024 10:00:10 GMT Given the crush of bad news on our changing climate, choosing a 'green' career just might be a matter of survival. Full Article
economy With China's Economy Battered By Pandemic, Millions Return To The Land For Work By www.gpbnews.org Published On :: Mon, 08 Jun 2020 15:47:00 +0000 Since the coronavirus pandemic battered China's economy, tens of millions of urban and factory jobs have evaporated. Some workers and business owners have banded together to pressure companies or local governments for subsidies and payouts. But many of the newly unemployed have instead returned to their rural villages. China's vast countryside now serves as an unemployment sponge, soaking up floating migrant workers in temporary agricultural work on small family plots. "Say a factory used to hire 1,000 temporary workers; now, without new orders, these business owners can't afford to hire this many people," Yan Xiyun, a labor intermediary, told NPR. "The factory I usually go to in previous years could easily hire 2,000 people. Now there is scarcely anyone [on the factory floor]." Ten years ago, Yan left her own village near the small city of Zhumadian in Henan province for the first time and joined the migrant workforce. Now, she's a headhunter working on commission, placing thousands Full Article
economy It's Official: U.S. Economy Is In A Recession By www.gpbnews.org Published On :: Mon, 08 Jun 2020 17:42:49 +0000 It may seem obvious, with double-digit unemployment and plunging economic output. But if there was any remaining doubt that the U.S. is in a recession, it's now been removed by the official scorekeepers at the National Bureau of Economic Research. The bureau's Business Cycle Dating Committee — the fat lady of economic opera — said the expansion peaked in February after a record 128 months, and we've been sliding into a pandemic-driven recession since. In making the announcement , the committee pointed to the "unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy." At the same time, the committee noted the recession could be short-lived. The U.S. added 2.5 million jobs last month after losing more than 22 million in March and April. Many forecasters said they expect economic output to begin growing again in the third quarter. The standard definition of a recession is "a decline in economic activity that lasts more than a few Full Article
economy Federal Reserve Vows To Help Economy Weather The Pandemic Recession By www.gpbnews.org Published On :: Wed, 10 Jun 2020 18:29:42 +0000 Updated at 4:12 p.m. ET The Federal Reserve left interest rates near zero Wednesday and once again promised to deliver whatever monetary medicine it can to an economy that's badly ailing from the coronavirus pandemic. "The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time," the central bank said in a statement . While noting that "financial conditions have improved, in part reflecting policy measures to support the economy," the Fed's rate-setting committee reiterated its intent to leave interest rates at rock-bottom levels, "until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals." Notes released along with the committee's statement suggest no rate increases are expected at least through 2022. "We're not thinking about raising rates," Fed Chairman Jerome Powell said at a news conference. "We're not even thinking about thinking about Full Article
economy Why Reopening Isn't Enough To Save The Economy By www.gpbnews.org Published On :: Tue, 23 Jun 2020 10:30:00 +0000 Editor's note: This is an excerpt of Planet Money 's newsletter. You can sign up here . Geoff Caddick / AFP via Getty Images Brooklyn Heights sits across the East River from Lower Manhattan. It's filled with multimillion-dollar brownstones and — usually — Range Rovers, Teslas and BMWs. These days it's easy to find parking. The brownstones are mostly dark at night. The place is a ghost town. And the neighborhood's sushi restaurants, Pilates studios, bistros and wine bars are either closed or mostly empty. It's a microcosm for what has been the driver of the pandemic recession: Rich people have stopped going out, destroying millions of jobs. That's one of the key insights of a blockbuster study that was dropped late last week by a gang of economists led by Harvard University's Raj Chetty. If you don't know who Chetty is, he's sort of like the Michael Jordan of policy wonks. He's a star economist. He and his colleagues assemble and crunch massive data sets and deliver insights that Full Article
economy Powell Says the Fed Wil Find Price Stability in a New Economy By www.nytimes.com Published On :: Wed, 29 Jun 2022 18:42:23 +0000 The Federal Reserve chair, Jerome Powell, and his counterparts in Britain and the European Union spoke at a conference in Portugal. Full Article United States Economy Economic Conditions and Trends Inflation (Economics) Prices (Fares Fees and Rates) Federal Reserve System Powell Jerome H
economy Pessimism about the economy is growing, a U.S. poll shows. By www.nytimes.com Published On :: Thu, 30 Jun 2022 09:01:03 +0000 Roughly half of those surveyed say they are worse off financially than a year ago, and most disapprove of President Biden’s handling of inflation. Full Article United States Economy Inflation (Economics) Polls and Public Opinion Consumer Confidence (Economic Indicator) Momentive Inc Biden Joseph R Jr Democratic Party Federal Reserve System
economy The Political Economy of Inequality, Democracy & Oligarchy - Panel Presentation - November 13, 2020 By corporatejusticeblog.blogspot.com Published On :: Thu, 12 Nov 2020 20:21:00 +0000 The Law and Political Economy Project at Yale Law School is hosting the following panel:The Political Economy of Inequality, Democracy & Oligarchy, on Friday, November 13, 2020 at 5:00 pm eastern time.This panel discussion will focus upon the erosion of democratic institutions and the rise of oligarchy that has followed in the wake of unprecedented economic inequality. The panel will address elite efforts to entrench themselves politically as well as economically, including the consequences of such efforts in terms of human development. The panel will focus upon the specific context of election 2020 and the uncertainty it is creating. The subversion of democracy and the law governing our democracy naturally holds many costs, and each panelist will address such costs. Each panelist will also seek to articulate some mechanism for a path forward. Register herePANELISTS:Emma Coleman Jordan, Georgetown Law Centerandré douglas pond cummings, Univ. of Arkansas at Little Rock William H. Bowen School of LawAtiba Ellis, Marquette University Law SchoolSteven Ramirez, Loyola University of Chicago School of LawGerald Torres, Yale Law School Full Article
economy Trump win could be a double whammy for Hungary's economy By biztoc.com Published On :: Wed, 13 Nov 2024 07:12:58 GMT By Gergely Szakacs and Karin Strohecker BUDAPEST/LONDON (Reuters) - Donald Trump's victory may be a political boon for Hungarian leader Viktor Orban but on the economy, Trump is bad news for Hungary - adding to inflationary risks due to a weak forint and lower output due to possible tariffs on… Full Article
economy Wood furniture made from waste creates a circular economy By inhabitat.com Published On :: Thu, 13 Jul 2023 15:30:00 +0000 Wood is one of the most common materials used for manufacturing and construction. Despite it being a natural resource with potential for reuse and its biodegradable qualities, the wood used in the industry is far from circular. In fact, each year, millions of tons of this precious material are wasted. To prevent this, a group of designers from the firm Disrupt.Design Lab (D.DLAB) have been exploring the development of circular solutions for wood. By developing new techniques that combine advanced fabrication and traditional methods, the team aims to contribute to the development of zero-waste industries.[...] Full Article Chair Wood furniture design wooden furniture Seating
economy Why a more inward-looking China is bad news for the world economy By www.chathamhouse.org Published On :: Sun, 16 Oct 2022 14:22:52 +0000 Why a more inward-looking China is bad news for the world economy Expert comment LToremark 16 October 2022 The increased role of geopolitics and ideology in Beijing’s economic decision-making is bad news not just for China but for the world. We should adhere to self-reliance, put the development of the country and nation on the basis of our own strength, and firmly seize the initiative in development. To build a great modern socialist country in an all-round way and achieve the second Centenary Goal, we must take the road of independent innovation. President Xi Jinping, August 2022 This quote by President Xi clearly outlines the inward tilt of Chinese economic policymaking that is now becoming increasingly obvious to the rest of the world. But it actually has deep roots. Ever since the 2008 global financial crisis, when the West’s reliability as a trading partner was thrown into question, self-reliance has become a more decisive organizing principle for Chinese officials. As a result, the export-dependent growth model on which China built its economic rise in recent decades has been fraying. Exports as a share of China’s GDP peaked at 35 per cent in 2007 but had fallen to around 20 per cent by last year, a level not seen since before China’s accession to the WTO in 2001. This shows that net exports no longer make any meaningful contribution to Chinese GDP growth. Russia’s invasion of Ukraine has provided another geopolitical impetus to China’s pursuit of self-reliance. Although China’s inward tilt may have started out as a response to purely economic phenomena – the post-crisis global recession, belt-tightening in the West, the eurozone crisis, and a general softening of global trade growth in the post-crisis years – geopolitical considerations are now dominant in shaping this shift toward self-reliance. The role of geopolitics in pushing China towards a more inward-looking development path became clear in China’s response to the aggressive tariffs and export controls introduced by the Trump administration in the US. Because of these new constraints on China’s access to international markets and technology, Beijing sought to limit its dependence on the rest of the world. The most obvious result of this was the introduction of the ‘dual circulation’ strategy in May 2020, which sets out a rebalancing of China’s economy away from a reliance on external demand as a stimulus to growth (‘international circulation’) towards increased self-dependence (‘domestic circulation’). Russia’s invasion of Ukraine has provided another geopolitical impetus to China’s pursuit of self-reliance. Since it is not far-fetched to think that China, like Russia, might one day also face coordinated sanctions, Chinese authorities must be thinking hard about how to respond to such a risk. Within China itself, a new emphasis on the role of the state is increasingly apparent – and seemingly rooted in ideology. The only credible strategy that China can adopt is to reduce its economic dependence on the West by creating, in effect, a kind of economic fortress, as its dependence on imported technology, food, and fossil fuels in particular, has created a substantial strategic vulnerability. Over the next few years, Chinese policymakers will likely attempt to build up the country’s ability to supply its own semi-conductors, food, and green energy sources. This new approach to economic policymaking isn’t just about China’s relationship with the rest of the world. Within China itself, a new emphasis on the role of the state is increasingly apparent – and seemingly rooted in ideology. The previous National Congress of the Chinese Communist Party (CCP), in October 2017, made a push for ‘stronger, better, and bigger’ state-owned enterprises (SOEs) and the past five years have indeed seen a measurable rise in the role that SOEs play in the Chinese economy. These firms now account for more fixed investment in the economy than private firms, for the first time since 2005. Full Article
economy Director's briefing: Key challenges for China’s economy in 2023 By www.chathamhouse.org Published On :: Wed, 18 Jan 2023 16:47:15 +0000 Director's briefing: Key challenges for China’s economy in 2023 6 February 2023 — 8:00AM TO 9:15AM Anonymous (not verified) 18 January 2023 Chatham House This event examines the structural challenges facing the Chinese economy in the wake of the 20th National Congress of the Chinese Communist Party. This event examines the structural challenges facing the Chinese economy after the 20th National Congress of the Chinese Communist Party in October 2022 and how President Xi Jinping is responding to short and long-term domestic pressures. The panel, including Professor Huang Yiping, discuss how quickly the Chinese economy could rebound after the Chinese government abandoned its ‘Zero COVID-19’ policy in December 2022 and to what extent the Chinese economy is pivoting toward Xi Jinping’s stated goal of ‘self-reliance’. The panel also discuss the broader implications for the global economy. Key questions to be explored: Which sectors will China prioritize in pursuit of greater economic self-reliance? If China is turning inward, how will it drive technological innovation in the coming years? Is China’s economy robust enough to withstand geopolitical turbulence and other external shocks? This event is held under the Chatham House Rule. Full Article
economy Making the circular economy work for global development: how the UN Summit of the Future can deliver By www.chathamhouse.org Published On :: Thu, 05 Sep 2024 09:02:13 +0000 Making the circular economy work for global development: how the UN Summit of the Future can deliver 23 September 2024 — 6:15PM TO 9:00PM Anonymous (not verified) 5 September 2024 Online This policy roundtable focusses on how to advance implementation of a global approach and collaboration to an inclusive circular economy for an updated post-2030 SDG framework. As the world looks beyond the Sustainable Development Goals (SDGs) towards the post-2030 era, integrating the principles of the circular economy into the future global development agenda becomes imperative. A new Chatham House research paper about the role of the circular economy for the SDGs and their possible extension into the post-2030 development agenda will be launched in September 2024 during the UN Summit of the Future and the New York Climate Week. The paper outlines the rationale for the integration of circular economy goals into for the next crucial phase of international development and how to meet net-zero 2050 targets. It provides actionable recommendations on international cooperation mechanisms for policymakers and stakeholders at the UN Summit for the Future in 2024 and beyond.The aim of the roundtable is to bring together stakeholders and leaders from intergovernmental organisations, business, governments and civil society. The focus of the roundtable meeting is: Reflections on the Summit of the Future and the role of circularity for an updated post-2030 SDG framework.Discussion on key aspects of the institutional arrangements and international coordination that are needed for a globally coordinated approach to achieve an inclusive circular economy that supports SDG implementation. Development of joint strategies on how to advance implementation of a global approach and collaboration to an inclusive circular economy as a follow-up from the Summit of the Future.The objective is to emerge from the roundtable with a clearer roadmap for translating the recommendations for international coordination into concrete actions, with a shared commitment to driving meaningful change on the international level.The event is co-hosted by Chatham House and partners from the Global Circular Economy Roadmap initiative including the African Circular Economy Network, the African Development Bank, Circular Change, Circular Innovation Lab, Circle Economy, EU CE Stakeholder Platform, Hanns Seidel Foundation, Institute of Global Environmental Strategies, Sitra, UNIDO, World Business Council on Sustainable Development, World Economic Forum and the Wyss Academy for Nature.Further background information is available on the initiative website.More speakers to be announced. Full Article
economy A Digital India Must Embrace the Circular Economy By www.chathamhouse.org Published On :: Mon, 15 Jan 2018 10:48:13 +0000 A Digital India Must Embrace the Circular Economy Expert comment sysadmin 15 January 2018 A growing amount of e-waste should draw attention to the broader sustainability of a digital society. — Workers dismantle old computers at an e-waste recycling factory near Bangalore. Photo: Getty Images. The latest Global E-Waste Monitor places India as one of the highest contributors to global e-waste, generating over 2 million metric tonnes in 2016. Posing serious health and environmental risks, growing e-waste represents the hidden cost of increasingly digital lives in an information society. With just 33 per cent of the population owning a smart phone, India already has the second largest number of smart phone users in the world, nearly 4 times that of the United States. The amount of e-waste generated will exponentially increase in the coming decade as the cost of consumer electronics decline, middle-class incomes rise, and the frequency at which devices are discarded increases. As governance instruments are increasingly digitized and industry re-repositions itself to leverage Industry 4.0 solutions, the generation of e-waste will become a byproduct of institutional choices rather than consumer consumption and behaviour alone. India is already a leader in the management and recycling of e-waste. But over 90 per cent is managed in the unorganized sector by small businesses and individual entrepreneurs, typically from low-income marginalized communities, and often women. E-waste contains various toxic substances such as mercury and lead, prolonged exposure to which can lead to major health problems. Almost 80 per cent of e-waste workers in India suffer from respiratory ailments due to improper standards and nearly 500,000 children are engaged in e-waste collection without adequate protection and safeguards. The bulk of the dirty and dangerous work supporting India’s march towards an increasingly digital society is done by those who have the least access to technology gains. Government regulations for the management of e-waste, on the other hand, are becoming more relaxed, presumably as a result of industry pressure. To streamline e-waste management, the government notified Electronic Waste Rules in 2011, based on the concept of extended producer responsibility (EPR). EPR makes manufacturers of electronic products responsible for the end-of-life management of their products, including setting up collection centres. By shifting the burden to manufacturers, the EPR framework, in theory, creates incentives for more environmentally friendly design. But the impact of EPR rules on manufacturers has been minimal, at best. The recently released Draft Notification (2017) by the Ministry of Environment, Forest and Climate Change further relaxes the EPR rule by reducing the e-waste collection targets for industries. While the efficiency and productivity gains of Digital India are to be welcomed, growing e-waste should draw attention to the broader sustainability of a digital society. Data centres, for example, are one the largest contributors to global warming, contributing a similar amount to global greenhouse emissions as the aviation industry. This amount is expected to triple in the next decade. In many ways, the sustainability challenge is a ‘wicked problem’ – where possible solutions create a new set of additional challenges and the choice between available alternatives is largely about competing values. For example, data centres powered by renewable sources of energy such as solar provide a greener alternative, but will also create new forms of e-waste in the form of photovoltaic cells and panels. An unverified estimate suggests that India’s projected solar capacity of 100 gigawatts by 2022 will create 7.76 million tonnes of e-waste. Without adequate and preemptive consideration of how this waste should be disposed and recycled, renewable energy solutions can create new negative externalities. For Digital India to be sustainable, we need to develop anticipatory knowledge for preemptive solutions. It is an opportune moment to think of the broader architecture of a digital society, one that avoids getting locked into unsustainable models of production and consumption, as is the case with many industrialized economies. The argument that such considerations are premature for India, given high levels of poverty and unemployment, are misplaced. Enquiries into the sustainability of Digital India are no less urgent than the need for sustained job-creating economic growth. These issues should not be addressed in a sequential or linear manner, but in parallel, or else we will be only partially aware of available choices and their consequences, creating new forms of technological and economic lock-ins. The value-based choice demanded by the ‘wicked problem’ at hand is one that embraces the idea of a circular economy — one that departs from the linear economic growth model predicated on ‘take, make, dispose’ to embrace a growth model based on creating closed loops of production, consumption and re-use. A circular economy model is built on the idea of designing out waste and pollution; keeping products and materials in use; and regenerating natural systems. In many ways, India is already a leader in the circular economy. Alongside, the management of e-waste and other forms of recycling, high levels of repair and reuse are distinctly observable. A number of reports note that the informal waste management sector in India works better than systems in many industrialized economies. A circular economy vision for Digital India would include organizing informal waste management systems, including safety and social protection initiatives for workers; revising and tightening existent e-waste rules for increased accountability by manufacturers both in terms of durable design and responsible disposal; green data centres; and building future smart cities with a view towards energy and water efficiency, among others. A recent report by the Ellen McArthur Foundation and the World Economic Forum also estimates that a circular economy path to development could bring India annual benefits of $624 billion by 2050. Greenhouse gas emissions could also be 44 per cent lower in 2050, compared with current development path. Unsurprisingly, Nordic countries are leading the way in promoting the idea of a circular economy. Sweden recently announced tax breaks for repair related activities and Finland hosted the first global conference on the circular economy earlier this year. The circular economy provides an opportunity for India to capitalize and leverage an already existing culture of circular activities, and promote it as a policy agenda that will create new forms of employment while facilitating sustainable environmental management. This article was originally published in the Indian Express. Full Article
economy World economy is fracturing, not deglobalizing By www.chathamhouse.org Published On :: Wed, 08 Feb 2023 13:15:11 +0000 World economy is fracturing, not deglobalizing Expert comment LJefferson 8 February 2023 Geopolitics are creating a more uncertain economic environment as the global economy splinters into competing blocs. There is now broad agreement among economists and commentators that the world has reached peak globalization, but there is little consensus about what comes next. One view is that we are entering a period of ‘deglobalization’, in which global trade volumes decline and cross-border capital flows recede. An alternative and more likely outcome is that the global economy starts to splinter into competing blocs. This would result in an altogether more volatile macroeconomic and market environment which would pose a formidable challenge to some countries and companies operating in vulnerable sectors. But this process needn’t involve any significant shrinkage of international flows of goods, services and capital, nor a broad reversal of other gains of globalization. Whereas the period of globalization was driven by governments and companies working in unison, fracturing is being driven by governments alone. This most recent era of globalization was underpinned by a belief that economic integration would lead to China and the former Eastern Bloc countries becoming what former World Bank Chief Robert Zoellick termed ‘responsible stakeholders’ within the global system. But China has instead emerged as a strategic rival to the US. This strategic rivalry is already forcing others to pick sides as the world splinters into two blocs: one that aligns primarily with the US and another that aligns primarily with China. Increasingly, policy choices within these blocs will be shaped by geopolitical considerations. This process can be thought of as ‘global fracturing’. Whereas the period of globalization was driven by governments and companies working in unison, fracturing is being driven by governments alone. The effects of fracturing Viewed this way, ‘deglobalization’ is by no means inevitable. There are few compelling geopolitical reasons why the US or Europe should stop importing the majority of consumer goods from China. Roll the clock forward ten years and it is likely that the West will still be buying toys and furniture from China. Instead, fracturing between the blocs will take place along fault lines that are geopolitically important. In some aspects, the effects of fracturing will be profound. But in other areas, warnings of a seismic reordering of the global economy and financial system will prove wide of the mark. For example, the politically-driven nature of fracturing will have a significant impact on the operating environment for US and European firms in those sectors that are most exposed to restrictions on trade, such as technology and pharmaceuticals. And all firms and investors will be operating in a different environment in which geopolitical considerations play a greater role in decisions over the allocation of resources. In cases where production does shift location, it is likely to be to other low-cost centres that align more clearly with the US. There will be no great ‘reshoring’ of manufacturing jobs. But where production is moved to alternative locations, this is likely to only involve the manufacture of goods that are deemed to be strategically significant. This may include those with substantial technological and/or intellectual property components: think iPhones, pharmaceuticals, or high-end engineering products. What’s more, in cases where production does shift location, it is likely to be to other low-cost centres that align more clearly with the US. There will be no great ‘reshoring’ of manufacturing jobs. Within this process, trade linkages will be reordered, rather than severed. This will result in trade’s share of global GDP flatlining in the coming years, rather than shrinking outright, as is being forecast under many attempts to quantify deglobalization’s potential impact. Finances of global fracturing There will be a substantial financial component to global fracturing, but once again the implications are likely to be more nuanced than the current debate suggests. Cross-border financial links are likely to grow more slowly, and the overall stock of cross-border claims will plateau relative to global GDP. But whereas the first era of globalization in the 1870s was followed by a broad retreat in global capital flows during the interwar years, the same is unlikely to happen today. Beijing will increasingly push its partners to settle trade in renminbi but this is unlikely to seriously challenge the dollar’s position. Similarly, while financial fracturing will fuel growing speculation about the dollar’s role as the world’s reserve currency, reports of its impending demise are exaggerated. Beijing will increasingly push its partners to settle trade in renminbi but three factors suggest that this is unlikely to seriously challenge the dollar’s position. First, while trade between China and its partners is growing, it still accounts for only six per cent of global trade. Most trade still happens between US-aligned countries, and will continue to be denominated in US dollars (see chart). Second, China runs a large current account surplus, which will make it harder for the renminbi to supplant the dollar. High demand for reserve assets means that reserve countries tend to run current account deficits. — Share of global goods and services trade (%) Source: Capital Economics Finally, the dollar still has several things working in its favour. For a currency to be widely used as an international medium of exchange, it must be readily and cheaply available around the world. In turn, that depends on foreigners being willing to hold it in large volumes: in other words, it must function as a store of value. Full Article
economy How to revive Europe’s economy and unlock its potential By www.chathamhouse.org Published On :: Tue, 22 Oct 2024 14:27:14 +0000 How to revive Europe’s economy and unlock its potential 7 November 2024 — 6:00PM TO 7:00PM Anonymous (not verified) 22 October 2024 Chatham House and Online Enrico Letta, former prime minister of Italy, and other experts discuss how the European Union’s economy must adapt to a challenging world. Amid a fractured geopolitical environment, global trade volatility and hardening protectionist policies in many countries, the European economy must adapt fast. The single market is a key driver of European integration, but it was designed in a very different global economic context.Launched in April, Enrico Letta’s Much more than a market report set out how the European Union should adapt the arrangements of the single market to ensure it delivers prosperity and economic security for EU citizens in the 21st century. The report resonates with ongoing debates over the future of European competitiveness, industrial strategy and how to respond to an apparently deglobalizing world. In this event, Letta and other experts on the European economy and integration will discuss the prospect of meaningful reform of the single market, and what the incoming Commission can do to ensure the EU unlocks the potential of its economy for all its citizens.Key questions will include:What dynamics are shaping the Europe’s economic landscape?What opportunities are there to enhance the strength and competitiveness of the single marketHow can the EU’s leaders ensure the single market is aligned with other strategic objectives such as security and enlargement?What political hurdles may prevent progress on single market reform? And how can these be overcome?The institute occupies a position of respect and trust, and is committed to fostering inclusive dialogue at all events. Event attendees are expected to uphold this by adhering to our code of conduct. Full Article
economy Undercurrents: Episode 7 - Libya's War Economy, and Is the United Nations Still Relevant? By f1.media.brightcove.com Published On :: Fri, 04 May 2018 00:00:00 +0100 Full Article
economy Dark Commerce: Technology’s Contribution to the Illegal Economy By f1.media.brightcove.com Published On :: Tue, 11 Dec 2018 00:00:00 +0000 Full Article
economy Undercurrents: Episode 26 - China's Economy, and UK Relations with Saudi Arabia By f1.media.brightcove.com Published On :: Thu, 14 Feb 2019 00:00:00 +0000 Full Article
economy Iceland and the Wellbeing Economy By f1.media.brightcove.com Published On :: Tue, 03 Dec 2019 00:00:00 +0000 Full Article
economy Creon Butler appointed to lead Global Economy and Finance Programme By www.chathamhouse.org Published On :: Tue, 22 Oct 2019 10:22:32 +0000 Creon Butler appointed to lead Global Economy and Finance Programme News Release sysadmin 22 October 2019 Creon Butler has been appointed to lead the Global Economy and Finance programme at Chatham House, joining the institute at the beginning of December. He will also form part of the institute’s senior leadership team. Full Article
economy EU recovery fund is a chance to accelerate the circular economy By www.chathamhouse.org Published On :: Wed, 27 May 2020 11:55:52 +0000 Source EURACTIV URL https://www.euractiv.com/section/circular-economy/opinion/eu-recovery-fund-is-a-... Release date 27 May 2020 Expert Patrick Schröder In the news type Op-ed Hide date on homepage Full Article
economy Coronavirus and trade war pushing China to focus on fixing economy rather than leading world order By www.chathamhouse.org Published On :: Wed, 10 Jun 2020 08:49:06 +0000 Source The South China Morning Post URL https://www.scmp.com/comment/opinion/article/3087713/coronavirus-and-trade-war-p... Release date 08 June 2020 Expert Dr Yu Jie In the news type Op-ed Hide date on homepage Full Article
economy Mining and the Circular Economy: Implications for the Minerals and Metals Industries By www.chathamhouse.org Published On :: Tue, 31 Oct 2017 10:00:00 +0000 Mining and the Circular Economy: Implications for the Minerals and Metals Industries 6 November 2017 — 4:00PM TO 5:30PM Anonymous (not verified) 31 October 2017 Chatham House, London The concept of the circular economy has climbed up the international agenda, promoted by China, the EU, and other major metals and minerals producers and consumers. International policy processes including the G7 and G20 have reaffirmed these commitments and have increasingly issued policy guidance on resource efficiency. Many of the core elements of the circular economy are familiar – including enhanced resource efficiency, recycling and the development of ‘secondary markets’. Others require new thinking, from the development of smart designs and systems that ensure ‘circularity’, to the creation of new business models and partnerships that aim to preserve the long-term value of metals and minerals. At this roundtable, Professor Paul Ekins will discuss the implications of the transition from a linear system of production-use-disposal, to a more circular economy. Looking at current trends, to what extent is a ‘decoupling’ of metal and mineral resources and economic growth underway in OECD and developing economies? Across the value chain, which actors are leading the way in resource efficiency and circular economy approaches? And what are the potential implications for primary demand and for the mining and metals industries and major mining economies? Attendance at this event is by invitation only. Full Article
economy Economy Must Not Get Stuck Between Lockdown and Recovery By www.chathamhouse.org Published On :: Thu, 02 Jul 2020 17:29:32 +0000 2 July 2020 Creon Butler Research Director, Trade, Investment & New Governance Models: Director, Global Economy and Finance Programme LinkedIn Despite recent outbreaks in several countries which had appeared to be close to excluding the virus, focusing on suppression and elimination is the best economic as well as health strategy. 2020-07-02-Plane-Virus-Business An almost empty British Airways passenger plane flies from Milan to London. Photo by Laurel Chor/Getty Images. Lockdowns are being eased in many countries, but from different starting points in terms of prevalence of the virus, and with different near-term trade-offs between protecting life and easing constraints on economic activity.The pressure to ease is understandable. The IMF estimates $10tn has been spent so far on official support measures worldwide, and forecasts global GDP will contract by an unprecedented 4.9% in 2020.However, the WHO director general, Dr Tedros Adhanom Ghebreyesus, recently insisted that there is an ‘urgent responsibility to do everything we can with the tools we have now to suppress transmission and save lives’, even as research into vaccines and therapeutics continues.Focusing on suppressing and eliminating the virus as quickly as possible is not just the best strategy for saving life, it also makes most sense in terms of minimising the long-term economic damage from the pandemic.The alternatives remain uncertainNeither a vaccine nor improved treatment are currently sufficiently certain to be the focal point for an economic recovery strategy. Despite optimism about vaccine development, there is no certainty of a decisive outcome by a given date. And, even if a vaccine proved effective, manufacturing and distributing it to 8bn people will present an unprecedented set of logistical and economic challenges and take many months, if not years.In the meantime, although substantial progress has been made in reducing loss of life among those made seriously ill by the virus - and who have access to advanced medical facilities - it remains highly dangerous for a significant proportion of the population - around 20% in advanced economies.An alternative containment strategy based on gradually reducing the prevalence of the virus in the population by maintaining an “R” number (replication coefficient) just below one will be both economically costly and highly risky when compared with a decisive push to eliminate the virus quickly.With an R number just below one it is true the virus may eventually disappear, but only over a lengthy period, during which economically damaging social distancing measures will have to stay in place, dragging out the impact on both demand and supply.Wage support measures to limit ‘economic scarring’ will have to be maintained, and kickstarting the economy with a conventional fiscal stimulus will be difficult, if not impossible, especially when the ability - or willingness - of consumers to spend is still heavily constrained either by social distancing measures or a lack of confidence.There is also a major risk when the R number is close to one that the virus could suddenly take off again, leading to a complete failure of the strategy.Benefits of suppress and eliminateA successful policy focused on suppressing and eliminating the virus offers much better prospects. First, the government can then protect the vast bulk of the economy within its territory, even if it means continuing travel restrictions for some time vis-a-vis countries that are less committed to or less successful in eliminating the virus.Some sectors - particularly long-haul air transport - will be hard hit, but other critical high value or employment intensive sectors - such as domestic hospitality, leisure and the arts - will be able to make a substantial recovery. To put it bluntly, the authorities may have to hold back some sectors to save others. Such a strategy would also ensure an economy can participate sustainably in free travel zones with other countries.Second, a drive to suppress and eliminate the virus in the shortest possible timeframe, and then maintain that status, will help authorities communicate clearly to the public the overarching framework guiding the application of social distancing measures, and the nature of the ‘new normal’ economy that can be expected to emerge over the medium to long-term.Achieving such clarity will enhance the public’s trust in the government’s strategy and hence responsiveness to government instructions. It will also minimise unnecessary and costly adaptations by business and increase its ability to target new opportunities arising from the genuine long-term changes brought about by the crisis.In addition, a suppress and eliminate strategy is the only sure way to address the disproportionate impact of the virus on ethnic minorities and the poor, and to put an end to the isolation of the millions who currently have to shield themselves.We know that suppressing the virus almost completely within a given territory is possible because some countries have already done it - notably New Zealand, South Korea, and Taiwan. Some which started with a serious epidemic, such as China, Spain and Italy, have also managed to reach a point where almost complete elimination within their territory can be envisaged.Renewed outbreaks are likely to happen, particularly while the virus remains in active circulation globally. But this does not invalidate the underlying suppress and eliminate strategy.Key policies to suppress and eliminate the virus include: a rapid and decisive national lockdown to reduce the disease to levels low enough for test, trace and quarantine systems to identify and suppress local outbreaks; social distancing measures for a limited period or in a specific locality to limit spread while, as far as possible, minimising economic impact; and effective quarantine and track systems applied at borders to prevent the disease from being re-introduced by non-essential travellers and returning nationals.The precise form of these policies is evolving rapidly as we learn more about the virus. For example, if there is a need today to stop a rapidly escalating epidemic in a given territory, it won’t necessarily mean adopting exactly the same package of lock down measures across the board as were applied three months ago. Several activities had to cease then simply because the virus was spreading so fast there was no time to put in place effective mitigation measures. This does not have to be repeated.In addition, the benefits of the widespread use of face masks are now much better understood. As is the value of deploying a battery of measures, each one only partially effective on its own but, in combination, with a decisive impact. Financial support measures may need to be adjusted or extended to underpin local lockdowns and, at any given point, the authorities will need to work within an overall budget for relaxation measures and prioritise - getting pupils back in school may mean holding back easing of restrictions elsewhere.Choosing an effective strategy inevitably means making tough choices. Delaying short-term recovery measures, even by a matter of weeks in whole economies or specific localities, can make a decisive difference to delivering a long-term sustainable economic outcome. The authorities may also be forced to hold back some economic sectors, possibly even leading to permanent damage, as the price of a general recovery. But if we are not ready to make these choices, the economy may become permanently stuck in a halfway house between lockdown and recovery. Full Article
economy Market Rally Contains Hopeful Message for the Economy By www.chathamhouse.org Published On :: Fri, 21 Aug 2020 14:50:56 +0000 21 August 2020 Dame DeAnne Julius DCMG CBE Senior Adviser, Chatham House; Distinguished Fellow, Global Economy and Finance Programme There are good reasons for soaring stocks, despite a seeming disconnect from the recession. 2020-08-21-Stock-Exchange-New-York-US Fearless Girl statue outside the New York Stock Exchange. Photo by Noam Galai/Getty Images. Among the many unusual features of the pandemic-induced downturn is the disconnect between depressed real economies and buoyant financial markets. This is particularly evident in the US, where output fell 9.5% in the second quarter while the S&P 500 index rose by one-fifth.This may suggest a huge financial bubble is in the making, or at least a highly optimistic view of a COVID-19 vaccine and treatments. Another possibility is that markets have a better grasp of the economic dynamics of a post-pandemic world than most nervous consumers and governments.Certainly, markets have been helped by central bank largesse. In March, major central banks reacted forcefully to the possibility of a serious credit crunch with lending guarantees and bond purchases. Such liquidity interventions soothe troubled markets, but they also raise asset prices — potentially into bubble territory. This partly explains the markets’ strength. But it may not be the whole story.A closer look at market performance suggests they may be on to something more interesting. Compare the US’s broad-based S&P 500 equity index with the tech-focused Nasdaq 100. Since the start of the year, the Nasdaq has risen 24% while the S&P is up just 5%. In the S&P itself, it has been the dramatic rise of the so-called Faang companies — Facebook, Amazon, Apple, Netflix and Google/Alphabet — that offset lesser performances by the other 495 companies. This sharp difference reflects two forces.First, the COVID-19 crisis has had vastly different effects on different sectors. Lockdown brought a sudden increase in demand for the technology services that enable home learning (with school closures), homeworking (especially by office workers), home entertainment (instead of cinemas and theatres), home shopping (instead of physical shops), and home deliveries of almost everything else, including food. The Faang companies benefited disproportionally from this surge in demand as their production is scalable. Much of it could also be delivered by employees who themselves worked from home. The rise in their share prices reflects this.Meanwhile, other sectors suffered massively. In the UK, the overall drop in gross domestic product of 20% in the second quarter was led by a fall of 87% in the accommodation and food services sector, which was severely affected by government restrictions. About one-quarter of the UK workforce, according to official figures, was also furloughed or temporarily off work without pay during lockdown. The fall in the share prices of hotels, restaurant franchises and airlines reflects such factors. The second driver of rising markets is that they are forward-looking while economic statistics reflect the past. For example, that UK GDP shrank during the second quarter is less interesting to a financial investor than the fact that during two months (May and June) GDP expanded by 2.4% and 8.7% respectively. In other words, output troughed in April but recovery began in May and accelerated in June as lockdown restrictions were eased. It is likely that rapid adaptations by companies and consumers to the pandemic-supercharged trends are already under way. In Britain, the share of retail sales (excluding fuel) made by ecommerce rose from around 7% in 2010 to 20% at the beginning of 2020 — it has since jumped to more than 30%. One-third of those officially working from home meanwhile say that they would like to do that permanently, according to the Centre for Economics and Business Research, and many large companies have offered their staff this choice.Even in labour-intensive sectors such as healthcare and government services there has been a replacement of face-to-face delivery with digital booking and screen-based consultations.Still, while this may help some companies in certain sectors, it does not imply a smooth recovery for the whole economy. Rather, it augurs a period of disruption as new companies, new business models and new job openings emerge. If the pandemic has ignited a Schumpeterian process of creative destruction, that is likely to continue whether or not effective vaccines and treatments ever come. Governments should ease the pain of this disruption with supportive fiscal and monetary policies, but they should not try to slow it down. The hopeful market message is that one lasting consequence of COVID-19 may be the rejuvenation of productivity growth that eventually spreads far beyond tech. This article was originally published in the Financial Times. Full Article
economy Libya’s War Economy: Predation, Profiteering and State Weakness By www.chathamhouse.org Published On :: Mon, 09 Apr 2018 11:02:14 +0000 Libya’s War Economy: Predation, Profiteering and State Weakness Research paper sysadmin 9 April 2018 As Libya’s war economy persists, prospects for the restoration of functioning central governance become more distant. Summary Libya suffers from interlinked political, security and economic crises that are weakening state institutions, damaging its economy and facilitating the continued existence of non-state armed groups. As rival authorities continue to compete for power, the resulting fragmentation and dysfunction have provided a fertile environment for the development of a pervasive war economy dependent on violence. This war economy is dynamic and constantly in flux. Relative to earlier problems, there were signs of progress on several fronts in 2017: a reduction in human smuggling, a tripling in oil revenues, and increased local action against fuel smuggling. Yet the dynamics that have supported the war economy’s rise remain. Libya’s war economy is highly damaging for the future of the state for three reasons: First, it provides an enabling environment for networks of armed groups, criminal networks, corrupt businessmen and political elites to sustain their activities through illicit sales and predatory practices. Their operations are closely linked to the dispensation of violence, and are thus a spur for further conflict. Second, the war economy perpetuates negative incentives for those who profit from the state’s dysfunction. Only effective governance, supported by a durable political settlement, can tackle the foundations of Libya’s war economy. But neither a return to functioning central governance nor the development of a security sector that is fit for purpose is in the interests of war economy profiteers, who are therefore motivated to act as powerful spoilers of reform. Third, the political contestation and resource predation practised by those engaged in the war economy are having a disastrous impact on Libya’s formal economy, undermining what remains of its institutions. As the war economy persists, therefore, the prospects for the restoration of functioning central governance become more distant. This threatens to create a vicious cycle that accelerates further state collapse. Due to the limited capacity for coercion available to any actor or entity connected with the state, a strategy of co-opting networks of war economy profiteers has almost exclusively prevailed. This has failed. Drawing on the lessons from these attempts, a more successful policy must pursue targeted measures to combat the enabling structures of Libya’s war economy where possible, and to co-opt war economy profiteers only where necessary. In this, state authorities can do more to utilize what power they have to name and shame war economy profiteers in order to weaken the local legitimacy critical to profiteers’ survival. The state must present credible alternative livelihood opportunities to those engaged in, or benefiting from, the war economy. Progress will depend in part on the creation of positive incentives to abandon such activity. Where profiteers cannot be incentivized to move towards more legitimate economic activities, greater and more effective efforts must be made to reduce the profit margins of illicit schemes. The international community can do more to support Libyan efforts in countering the war economy. Cooperation over the targeting of criminal groups’ overseas assets, support for increased transparency over the dispensation of state funds, and measures to reduce the viability of illicit activities can all help to strengthen the position of state authorities. Further reading Discover the six things you need to know about Libya’s war economy 2018-04-12-libyas-war-economy-eaton-final (PDF) Full Article
economy Rebuilding Zimbabwe's Economy: Emmerson Mnangagwa’s Immediate Priorities By www.chathamhouse.org Published On :: Wed, 13 Dec 2017 14:41:18 +0000 Rebuilding Zimbabwe's Economy: Emmerson Mnangagwa’s Immediate Priorities Expert comment sysadmin 13 December 2017 Zimbabwe cannot expect to rebuild in the same economic model that brought previous prosperity. — Emmerson Mnangagwa is sworn in as president on 24 November. Photo: Getty Images. Returning to Harare as Zimbabwe’s president-designate Emmerson Mnangagwa declared, ‘We want to grow our economy, we want peace, we want jobs, jobs, jobs.’ Robert Mugabe leaves a legacy of an independent Zimbabwe in a deep economic crisis. Much remains uncertain as to what a new government in Zimbabwe will look like, and there is sure to be continuity as well as considerable change. What is clear is that a new administration under Mnangagwa will need to turn the economy around to garner support and legitimacy from the Zimbabwean people. Zimbabwe’s economic output halved over the period 1997–2008, and it has not recovered. With more than 80 per cent of Zimbabweans in the informal economy, and with social and economic resilience undermined by previous crises and decades of mismanagement, the stakes for the new leader are very high. Reform will be difficult particularly because politically connected elites have acquired businesses through uncompetitive means. They will be reluctant to see significantly more competition. But they will also want an improved economic environment. And there is scope for the people of Zimbabwe to benefit from this. An important change will be in the prioritization of economic stability. Mugabe demonstrated that he was willing to make political decisions irrespective of the economic consequences. Mnangagwa is thought to be less ideological and more of a pragmatist. For him, delivering economic recovery will be crucial to building political support. The most pressing fiscal priority is the public wage bill. Employment costs account for over 80 per cent of government expenditure, crowding out spending on social programmes, health and education. But the fragility of the economy means that reform cannot be fast-tracked. The public wage bill accounts for over 20 per cent of GDP and is an essential driver of demand. Public sector workers are also politically influential. Another further priority is the reform of state-owned enterprises that are pressuring the fiscus. A new administration will need to rebuild confidence. Policymakers have been operating in a low-confidence environment for a long time, but for any meaningful change to take root there has to be trust between the government, businesses and the people of Zimbabwe. Businesses and citizens will want to see a plan of action for remonetizing the economy. Zimbabwe faces an acute liquidity crisis. A shortage of US dollars and a lack of confidence in government-issued bond notes are testing resilience. The financial system has recovered from a crisis of nonperforming loans – triggered by high debt amassed during the post-dollarization boom, and weak corporate governance. But the system remains highly fragile and swamped with government debt. Hard cash US dollar deposits fell from 49 per cent ($582 million) in 2009 to just six per cent ($269 million) in 2016. In 2015, industrial utilization stood at just 34.3 per cent of installed capacity, and it was estimated that just five per cent of the country’s businesses were viable. The crux of the Zimbabwean economy is the linkage between agriculture and manufacturing. Commercial agriculture contributes approximately 12 per cent of the country’s GDP, and more than 60 per cent of inputs into the manufacturing sector. Tobacco in particular is a vital earner of much needed foreign exchange. Policies to support mid-scale farmers will have multiplier effects. They drive agricultural growth and generate jobs throughout the supply chain. Zimbabwe also has world-class natural resource endowments including ferrochrome, gold, copper, iron ore, lithium, diamonds and platinum group metals. But longer investment-gestation periods and industry risk adversity will mean that payoffs from fresh investments in this sector will take longer to materialize. Domestic finance will need to be mobilized to generate recovery, and this will need to be supported by international investment. But international investors entering the country must be cognizant of Zimbabwean’s expectations and also historical perceptions – especially around the scepticism of neoliberal economics as a result of failed structural adjustment programmes in the 1990s. Zimbabweans have high social expectations for international investors. Educated, tech-savvy, internationally connected youth are at the core of the consumer class that investors will be targeting, to both sell products to but also to staff offices in country. But this cohort also has a greater expectation of international companies to adhere to the norms and standards that they abide by at home and not take advantage of weak governance or poor regulation to exploit citizens. Investors in Zimbabwe must also recognize that behind the controversial Mugabe policies of land reform and indigenization – the empowerment of local citizens through shared ownership – was a popular desire for postcolonial economic transformation. This sentiment remains. Working in partnership with local entities and communicating the economic contribution made to society will be necessary to build a long-term presence in Zimbabwe, and reap the dividend of what many hope to be a new start for the country. Fresh thinking is required from domestic policymakers and international partners. A skilled population and estimated 3-5 million-strong diaspora will bring international experience and make a considerable contribution to this process. Some of this thinking has been done. The Lima process of re-engagement with international financial institutions that was agreed at the end of 2015 has laid some of the groundwork, especially around international expectations regarding both economic and governance reform – the substance of which was analysed in a 2016 Chatham House paper. The implementation of recommendations of the well-regarded auditor-general’s report on SOE reform will also be a key prerequisite for long-term reform. Zimbabweans are not alone in processing what has happened and how to react. Investors have long been poised to capitalize on what is perceived to be one of the continent’s best long-term prospects. A lot will remain unchanged following the transition. But significantly, for the first time in decades, there is a real opportunity to effect positive change and improve the livelihoods of millions of Zimbabweans. This article was originally published at the Huffington Post. Full Article
economy Zimbabwe's Economy During the Coronavirus Pandemic and Beyond By www.chathamhouse.org Published On :: Wed, 26 Aug 2020 08:25:01 +0000 Zimbabwe's Economy During the Coronavirus Pandemic and Beyond 8 September 2020 — 10:00AM TO 11:30AM Anonymous (not verified) 26 August 2020 COVID-19 has had a devastating effect on Zimbabwe’s already floundering economy. Important foreign currency earning industries have virtually stopped, and across the country livelihoods are at risk and an increasing number of people are reliant on government grants. Businesses are having to become more flexible but are constrained by a weak policy environment and lack of confidence in the economy. Since 2017, the government has been pursuing an economic reform agenda and Transitional Stabilization Programme (TSP), which was scheduled for completion by the end of 2020. The deepening challenges highlight the need to accelerate economic reform and build confidence in order to achieve sustainable and inclusive growth. At this webinar, speakers discuss the measures that government, businesses, and individuals are adopting in response to the COVID-19 economic challenge, and the policies required for recovery. Read a meeting summary This webinar is held in partnership with the Konrad Adenauer Stiftung. Full Article
economy Inclusion, agency and influence: The role of women in Zimbabwe’s economy By www.chathamhouse.org Published On :: Fri, 02 Jul 2021 17:25:52 +0000 Inclusion, agency and influence: The role of women in Zimbabwe’s economy 8 July 2021 — 3:00PM TO 4:30PM Anonymous (not verified) 2 July 2021 Online Speakers discuss the changing role of women in Zimbabwe’s economic structures and the priorities for promoting greater economic inclusion, agency and influence of women. Zimbabwe’s National Development Strategy of 2021-2025 highlights the importance of gender sensitivity in policymaking and of women’s economic participation in attaining the government’s Vision 2030. However, women have been among the worst affected groups by the devastating effects that COVID-19 has had on Zimbabwe’s already floundering economy, which has exacerbated the challenges they face in economic life, such as access to credit, financial services and social security. Leveraging existing structures such as women’s groups, micro-finance facilities, education and training, and national gender mechanisms, as well as supporting wider financial and digital inclusion in Zimbabwe, is central for the country’s sustained economic recovery. This event also focuses on the differing impacts of COVID-19 on women’s economic activities across various sectors, as well as along rural-urban and formal-informal economy lines. Read a meeting summary This webinar is part of a series of events in partnership with the Konrad Adenauer Stiftung on Zimbabwe’s economic recovery and reform. This event will also be broadcast live on the Africa Programme Facebook page. Full Article
economy Is China's economy on the rebound? By www.chathamhouse.org Published On :: Tue, 28 Feb 2023 09:22:13 +0000 Is China's economy on the rebound? 5 April 2023 — 6:00PM TO 7:00PM Anonymous (not verified) 28 February 2023 Chatham House and Online Exploring the domestic and international signals from the first annual session of the 14th National People’s Congress. 2022 proved to be a difficult year for China. War, COVID-19 and economic turbulence presented a cocktail of significant challenges for the ruling CCP in China. Having dispensed of the infamous zero-COVID-19 policy, China is apparently back open for business. On the international front, continued tensions with the West, war in Europe and climate change are just some of the obstacles standing in the way of Chinese economic recovery. Domestically, China must find ways to reinvigorate demand and move on from a low of 3 per cent GDP growth in 2022. With a frustrated population, people are also keen to be freed from the shackles of a stream of lockdowns and quarantining. The in-tray for the 14th National People’s Congress, as it begins its first session, is substantial. The implications, at home and abroad, from its recent summit in Beijing reverberate around the world. The experts on the panel discuss: What has been the true extent of COVID-related damage to China’s economy and wider society? What economic scars are visible post-recovery? Will there be longer-term implications for China’s economic and diplomatic footprint globally post-COVID? As with all member events, questions from the audience drive the conversation. Full Article
economy Turkey Needs Radical New Direction to Save the Economy By www.chathamhouse.org Published On :: Mon, 23 Nov 2020 15:45:06 +0000 Turkey Needs Radical New Direction to Save the Economy Expert comment NCapeling 23 November 2020 Turkey should emulate the reformist approach it adopted after the 2001 crisis to prevent an economic and financial breakdown - but this looks highly unlikely. Although Ankara has witnessed what appears to be an abrupt change of its top economic team with two fresh appointments to key positions – Naci Ağbal as governor of the central bank and Lütfi Elvan as finance and treasury minister – a cardinal rule of thumb in Turkish politics is that the more drama one sees, the less policy change there will actually be. Financial markets reacted positively to the moves in the expectation they will signal a change of Turkey’s overall economic approach, but the reality is Turkish president Recep Tayyip Erdoğan is simply putting loyalists into key bureaucratic positions to help ensure the primary role of these functions becomes ‘selling’ his policies more effectively, rather than altering them. The hope from the markets – which saw the beleaguered Turkish lira appreciate against the US dollar at the news – is that Turkey adopts substantial interest rate increases as well as measures to repress liquidity expansion in order to temper its controversial so-called ‘Triple C’ approach of using cheap credit to stimulate growth with an unsustainable consumption and construction boom. But instead, Erdoğan’s declaration after the appointments were made indicates the new restrictions in which they will now operate, saying ‘we are in a historic struggle against those who want to force Turkey into modern capitulations through the shackles of interest rates, foreign exchange rates and inflation’. Learn from past successes To resolve its current underlying economic problems, Turkey should actually be looking to its recent past and aiming to emulate the approach pursued by former prime minister Bülent Ecevit during the 2001 financial crisis when he recruited Kemal Derviş, a senior World Bank official with extensive experience and international contacts in economic, financial, and monetary affairs. As economy minister with a broad mandate to spearhead a durable economic recovery plan, Dervis established independent market regulatory agencies covering banking, telecommunications, energy, and other key sectors, and strengthened the competition authority. He also either liquidated or merged insolvent banks, granted central bank autonomy to guarantee price stability, and ensured recruitment was based on competence, expertise, and meritocracy. Crucially, his productivity-enhancing restructuring blueprint was designed in Turkey rather than being imposed by the International Monetary Fund (IMF) or another external agency. Ecevit also turbocharged reforms motivated in part by a desire to join the EU with constitutional, political and legal modernization which widened personal freedom, significantly curtailed capital punishment, liberalized the cultural environment for Kurds, and fortified the rule of law. And one of his coalition partners in that work, the right-wing pro-Turkish National Action Party (MHP), is now allied with the current ruling Justice and Development Party (AKP). His foreign minister Ismail Cem also enhanced Turkey’s relations with both Europe and the US, initiated the so-called ‘earthquake diplomacy’ with his Greek counterpart George Papandreou after twin tragedies struck both nations in 1999, and largely avoided entanglement in Middle Eastern conflicts. The net result of all these actions was that Turkey emerged from the crisis with greater resilience, a more robust regulatory framework, upgraded political and economic institutions, rapidly decreasing inflation, a credible central bank, a stronger financial system, closer relations with the EU and US, and heightened domestic and foreign investor confidence. But now that similar woes are engulfing Turkey anew, is Erdogan and the AKP/MHP alliance able – and willing – to repeat the Ecevit recipe? Present signs indicate they are highly unlikely to as they are too committed to entrenching the Triple C model. Although this model will likely further consolidate their power, it will also empty the civil service of qualified professionals, restrict civil liberties and freedoms, and create more ideological politics, affecting Turkey’s foreign policy. Such a stubborn refusal to shift direction is increasing the inevitability of a deep economic and financial breakdown and so, unless Turkey undertakes a serious policy departure instead of continuing to resort to the quick fix approach, there is real likelihood it will simply accelerate towards disaster. Full Article
economy Building the Quantum Economy — Chicago Style By www.hpcwire.com Published On :: Tue, 24 Sep 2024 19:17:58 +0000 Will there be regional winner in the global quantum economy sweepstakes? With visions of Silicon Valley’s iconic success in electronics and Boston/Cambridge’s repeat of that model in pharma/biotech, there are […] The post Building the Quantum Economy — Chicago Style appeared first on HPCwire. Full Article Features
economy This WW2 RAF Bomber Dealt a Deathblow to the German Economy By www.smithsonianmag.com Published On :: Thu, 31 Oct 2024 00:00:00 -0000 In WW2, the British made destroying German dams a key strategic target in order to kneecap the German industrial effort. To accomplish this, they needed a special plane to deliver the payload: the Lancaster Bomber. Full Article
economy News24 Business | Low taxes, high tariffs: What a Trump victory means for the US economy By www.news24.com Published On :: Wednesday Nov 06 2024 19:00:18 Donald Trump's victory in the 2024 US presidential election is likely to usher in a raft of economic changes at home and abroad, touching everything from foreign trade to the independence of the US central bank. Full Article
economy Dropouts and the Economy By blogs.edweek.org Published On :: Tue, 30 Nov 2010 00:00:00 +0000 Lots of ink for this new America's Promise report finding increased high school graduation rates from 2002 to 2008, as well as a decrease in the number of high schools with very high drop-out rates. Good news, ok, but still no cause for celebration: As my colleague Andy Rotherham notes, our nation's Full Article Dropouts
economy News24 Business | Is China’s new stimulus enough to revive its economy? By www.news24.com Published On :: Saturday Oct 19 2024 17:00:10 China is trying to revive its economy from a COVID-era slump, but is it doing too little, too late? Full Article
economy Gov. Carney, DE Department of Agriculture Underscore Vital Role of DE’s Agriculture Economy on National Agriculture Day By news.delaware.gov Published On :: Tue, 22 Mar 2022 23:34:25 +0000 WILMINGTON, Del. – Today, 30 food and agriculture groups released the sixth annual Feeding the Economy report, a historic farm-to-fork economic analysis revealing how these sectors influence the local and broader United States economies. Two years into the COVID-19 pandemic, this year’s study highlights how the industries remained resilient to provide Americans with jobs, economic opportunity, and safe […] Full Article Agriculture Department of Agriculture Governor John Carney Office of the Governor agriculture governor
economy Russia most diversified commodity economy for the fourth year By master-7rqtwti-2nwxk3tn3ebiq.eu-2.platformsh.site Published On :: Thu, 15 Aug 2019 12:00:45 +0100 Russia remains fDi’s most diversified commodity economy, while second ranked Brazil has displaced Ukraine into third place. Cathy Mullan reports. Full Article
economy View from the Americas: the evolving political economy of FDI By master-7rqtwti-2nwxk3tn3ebiq.eu-2.platformsh.site Published On :: Thu, 12 Dec 2019 12:00:59 +0000 We are currently in a state of heightened business and economic disruption and sociopolitical activism, which only looks set to intensify. Full Article
economy Visitor economy to benefit from temporary changes to the Work Bonus By www.austrade.gov.au Published On :: Thu, 20 Apr 2023 00:19:00 GMT Temporary changes to the Work Bonus offer an opportunity for the visitor economy to employ mature-aged workers and overcome labour shortfalls. Full Article Latest from Austrade
economy Data centre operator NEXTDC announces major investment in Malaysian digital economy By www.austrade.gov.au Published On :: Thu, 08 Jun 2023 23:51:00 GMT Australian data centre operator NEXTDC Limited is building its first overseas facility in Malaysia. Full Article Latest from Austrade
economy Protectionist Trade Policy Dampens US Economy and Risks Conflict with Asia By www.eastwestcenter.org Published On :: Thu, 20 Dec 2018 00:24:07 +0000 Protectionist Trade Policy Dampens US Economy and Risks Conflict with Asia Protectionist Trade Policy Dampens US Economy and Risks Conflict with Asia Anonymous (not verified) Wed, 12/19/2018 - 14:24 Jan 8, 2019 Jan 8, 2019 Economics Economics Politics & International Relations Politics & International Relations East Asia East Asia United States United States East-West Wire Tagline News, Commentary, and Analysis Home EWC Feeds East-West Wire The East-West Wire is a news, commentary, and analysis service provided by the East-West Center in Honolulu. Any part or all of the Wire content may be used by media with attribution to the East-West Center or the person quoted. To receive East-West Center Wire media releases via email, subscribe here. For links to all East-West Center media programs, fellowships and services, see www.eastwestcenter.org/journalists. Explore search All Programs All Regions All Topics Release Date Filters Reset filters East-West Wire Tagline News, Commentary, and Analysis Home EWC Feeds East-West Wire The East-West Wire is a news, commentary, and analysis service provided by the East-West Center in Honolulu. Any part or all of the Wire content may be used by media with attribution to the East-West Center or the person quoted. To receive East-West Center Wire media releases via email, subscribe here. For links to all East-West Center media programs, fellowships and services, see www.eastwestcenter.org/journalists. Explore search All Programs All Regions All Topics Release Date Filters Reset filters Full Article
economy Global Warming in Round Numbers— Toward a Zero-Carbon Economy By www.eastwestcenter.org Published On :: Thu, 07 Mar 2019 22:19:56 +0000 Global Warming in Round Numbers— Toward a Zero-Carbon Economy Global Warming in Round Numbers— Toward a Zero-Carbon Economy Anonymous (not verified) Thu, 03/07/2019 - 12:19 Mar 11, 2019 Mar 11, 2019 Environment & Climate Environment & Climate East-West Wire Tagline News, Commentary, and Analysis Home EWC Feeds East-West Wire The East-West Wire is a news, commentary, and analysis service provided by the East-West Center in Honolulu. Any part or all of the Wire content may be used by media with attribution to the East-West Center or the person quoted. To receive East-West Center Wire media releases via email, subscribe here. For links to all East-West Center media programs, fellowships and services, see www.eastwestcenter.org/journalists. Explore search All Programs All Regions All Topics Release Date Filters Reset filters East-West Wire Tagline News, Commentary, and Analysis Home EWC Feeds East-West Wire The East-West Wire is a news, commentary, and analysis service provided by the East-West Center in Honolulu. Any part or all of the Wire content may be used by media with attribution to the East-West Center or the person quoted. To receive East-West Center Wire media releases via email, subscribe here. For links to all East-West Center media programs, fellowships and services, see www.eastwestcenter.org/journalists. Explore search All Programs All Regions All Topics Release Date Filters Reset filters Full Article
economy Better Work Opportunities for Older Adults Would Benefit the South Korean Economy By www.eastwestcenter.org Published On :: Tue, 26 May 2020 20:08:09 +0000 Better Work Opportunities for Older Adults Would Benefit the South Korean Economy Better Work Opportunities for Older Adults Would Benefit the South Korean Economy Anonymous (not verified) Tue, 05/26/2020 - 10:08 May 26, 2020 May 26, 2020 Economics Economics Population Population South Korea South Korea East-West Wire Tagline News, Commentary, and Analysis Home EWC Feeds East-West Wire The East-West Wire is a news, commentary, and analysis service provided by the East-West Center in Honolulu. Any part or all of the Wire content may be used by media with attribution to the East-West Center or the person quoted. To receive East-West Center Wire media releases via email, subscribe here. For links to all East-West Center media programs, fellowships and services, see www.eastwestcenter.org/journalists. Explore search All Programs All Regions All Topics Release Date Filters Reset filters East-West Wire Tagline News, Commentary, and Analysis Home EWC Feeds East-West Wire The East-West Wire is a news, commentary, and analysis service provided by the East-West Center in Honolulu. Any part or all of the Wire content may be used by media with attribution to the East-West Center or the person quoted. To receive East-West Center Wire media releases via email, subscribe here. For links to all East-West Center media programs, fellowships and services, see www.eastwestcenter.org/journalists. Explore search All Programs All Regions All Topics Release Date Filters Reset filters Full Article
economy Corporates crush townships economy By www.iol.co.za Published On :: Mon, 11 Nov 2024 03:04:14 GMT Full Article