With its ambitious Made in China 2025 strategy, China has made clear its objective to secure global economic leadership in advanced technology industries. This places it in direct competition with the United States – which currently leads in those industries – in what is emerging as an undeclared but intensifying cold war over technologies with both commercial and military applications.
News that the United States’ fertility rate fell in 2017 to 1.75 has provoked surprise and concern. A buoyant US economy in the 1990s and early 2000s was accompanied by fertility rates of 2.00-2.05 children per woman, up from 1.8-1.9 in the 1980s.
It has been 63 years since the establishment of diplomatic relations between Nepal and China. Economic cooperation is one of the most important dimensions of Nepal-China bilateral relations. Sino-Nepal economic relation was established in ancient times as a local trade between Tibet and Kathmandu.
The late MIT economist Rudiger Dornbusch used to tell his students in the 1980s that there are four kinds of countries: rich, poor, Japan, and Argentina. No one frets anymore about Japan buying its way to world domination. But the world is worrying again about Argentina.
The political upheaval and social unrest fueling the current crisis in Italy should surprise no one. On the contrary, the only uncertainty was when exactly matters would come to a head. Now they have. Italy’s per capita GDP in 2018 is about 8 percent below its level in 2007, the year before the global financial crisis triggered the Great Recession. And the International Monetary Fund’s projections for 2023 suggest that Italy will still not have fully recovered from the cumulative output losses of the past decade.
Since the populist Five Star Movement and the right-wing League captured a combined parliamentary majority in Italy’s March 4th election, Italian politics has been at an impasse, with the two parties struggling to form a government.
I recently attended a Ph.D. seminar in labour economics at the Central European University in Budapest. In it, we considered whether the Hungarian government’s scheme to focus on long-term unemployment is working efficiently, and we raised a host of technical problems for the doctoral candidate to address.
When the Speaker of the US House of Representatives, Paul Ryan, retires at the end of his term in January, he will likely qualify for an annual government pension of more than $80,000. Ryan’s case – and that of the dozens of other members of Congress who will be retiring this year – highlights the chasm between the financial benefits available to politicians and those available to the vast majority of citizens they are supposed to serve, regardless of how well they actually perform in office.
The Himalayan range rises five millimeters a year. Geological forces from deep within the earth are slowly pushing the mountains into the Tibetan plateau. The view of the Himalayas outside my window in Nagarkot is breathtaking. I find it hard to comprehend the strength it takes to move mountains. However, if I intend to do business in Nepal, I must find similar strength.
French President Emmanuel Macron received plenty of praise in the international media for his recent speeches in Washington, DC, and Brussels. But for the French, what really matters is Macron’s management of domestic problems, of which there are many, not least rolling strikes by railway workers across the country.
In Lake Wobegon, Garrison Keillor’s fictional American town, all the children are above average. And life imitates art, not only in America – and not only for the young. In survey after survey, in rich and poor countries alike, people report feeling satisfied with their family lives, happy with the neighborhoods they live in, and optimistic about their personal futures. The same people tell pollsters that their countries and the world are going to hell in a handbasket.
The vast and growing gap between rich and poor has been laid bare in a new Oxfam report showing that the 62 richest billionaires own as much wealth as the poorer half among the world’s 7.6 billion population.
A week rarely goes by without a new dystopian prediction about technologically driven mass unemployment. As artificial intelligence (AI) and robotic technologies advance faster than even their own developers expected, studies are finding that many of the tasks and occupations that employ people can already be automated.