Category: Economy

A recent Pew Research Center survey reveals that majorities of U.S. adults under 30 consider dealing with global climate change (59%), preventing the spread of weapons of mass destruction (56%), and protecting the United States from terrorist attacks (55%) as top foreign policy priorities. These three issues stand out as the only ones that young adults see as top priorities among the 22 long-term foreign policy goals surveyed.

In contrast, fewer young adults prioritize other significant issues:

• Reducing the spread of infectious diseases (45%)
• Reducing the flow of illegal drugs into the country (39%)
• Promoting and defending human rights in other countries (36%)

While these foreign policy goals are important to young adults, they place less emphasis on climate change when considering domestic priorities. A separate survey conducted in January shows that young adults prioritize strengthening the economy, improving education, and reducing health care costs over climate change.

Continue reading… “Young Americans Prioritize Climate Change, Weapons Control, and Anti-Terrorism in Foreign Policy”

Children in the U.S. are dying at higher rates than in other wealthy, developed countries. Research published in the journal JAMA Pediatrics highlights these “excess deaths” — the number of additional deaths among children under age 19 in the U.S. compared to similar countries. The estimate is a staggering 20,000 excess deaths per year, painting a grim picture of pediatric health in the country.

Dr. Steven Woolf, the study’s co-author and a professor of family medicine and population health at Virginia Commonwealth University School of Medicine, remarked, “The chances of a child surviving to age 20 are now decreasing after decades of progress.” This study calculated the median mortality rates for children in 16 countries outside the U.S., including Australia, Canada, Japan, and 13 European countries, from 1999 to 2019. By comparing these rates to those in the U.S. and multiplying the difference by the U.S. population size each year, the researchers identified significant disparities.

Continue reading… “The Tragic Reality of Child Mortality in the U.S.: 20,000 Excess Deaths Annually”

For most people, labor law can be boring. But when someone suggests working an extra day, people start to pay attention. In Greece, new regulations effective July 1 will make this possible for certain sectors.

Starting July 1, specific industrial and manufacturing facilities, along with businesses providing 24/7 services, can transition to a six-day workweek instead of the traditional five-day week, according to Emmanouil Savoidakis, head of the labor law practice at Politis & Partners, an Athens-based law firm specializing in business law. However, the tourism and food service industries are excluded from this new arrangement.

Continue reading… “Greece Introduces Six-Day Workweek Amid Economic Recovery”

South Korea’s total fertility rate, the number of children an average woman is expected to have over her lifetime, was just 0.72 in 2023. This figure is a mere third of the 2.1 minimum required for population maintenance and signals a significant demographic crisis. In the last three months of 2023, the rate further decreased to 0.65, with projections suggesting it may drop to around 0.6 for 2024.

At this pace, Statistics Korea forecasts that the population will fall to approximately 36 million in 50 years. This is a stark contrast to the population growth from 32 million in 1970 to 50 million in 2012, now rapidly reversing as if the population boom were a fleeting dream.

Continue reading… “Addressing South Korea’s Demographic Crisis: Strategies for Reversing the Decline in Birth Rates”

South Korea has set a troubling record with the world’s lowest fertility rate, exacerbating concerns about its aging demographics and the resultant impact on healthcare, social welfare, and economic growth. According to data released by South Korea’s national statistics office, the number of expected babies per woman dropped to 0.72 in the past year, with the number of births decreasing by 7.7% to 230,000.

The aging population poses challenges for public pensions and healthcare, raising concerns about the increasing fiscal burden. The decline in the number of young people paying taxes coupled with rising demand for medical services and welfare creates a complex economic landscape.

Continue reading… “South Korea Faces Record Low Fertility Rate: Implications for Economy and Society”

In the face of rising college costs and growing concerns about affordability, a new approach is emerging among some institutions. Reports indicate that approximately two dozen colleges have implemented “no-loan” policies, signaling a departure from traditional financial aid packages that include student loans.

This shift is seen as a response to the challenging financial landscape students face, making higher education accessible to a broader range of individuals. Among the colleges recognized on The Princeton Review’s “The Best 389 Colleges” list, 23 institutions commit to meeting 100% of their undergraduates’ financial needs without relying on student loans. This trend gained momentum post-COVID, with Princeton University leading the way due to its substantial endowment.

Continue reading… “Colleges Adopt “No-Loan” Policies to Address Affordability Concerns”

A recent survey conducted in December 2023, involving 800 U.S. directors and executives responsible for filling open job positions, has shed light on some concerning trends in hiring recent college graduates. The findings indicate that nearly four in ten managers avoid hiring these graduates, citing concerns about their readiness for the professional world.

One particularly surprising statistic from the survey reveals that one in five employers reported instances of recent college graduates bringing their parents to job interviews. Additionally, 21% of employers noted candidates refusing to turn on their cameras during virtual interviews, which was perceived as a significant challenge.

Continue reading… “Challenges in Hiring Recent College Graduates: A Survey Reveals Employer Concerns”

South Korea stands at a critical juncture, grappling with a declining birthrate that holds profound implications for its economy and society. The government and society are compelled to explore policy measures that can counteract the far-reaching consequences of this demographic decline.

The fertility rate has sharply dropped from an average of six children per woman in the 1960s to a mere 0.7 children in Q2 2023—the lowest globally. This alarming figure falls well below the population replacement rate of 2.1 children per woman. In 2022, the country’s total population experienced a decline for the second consecutive year, a situation not witnessed since 1949. Demographers predict that, at this rate, the population could plummet to 38 million by 2070, down from the current 51.7 million.

Continue reading… “Navigating the Demographic Challenge: South Korea’s Quest for Sustainable Growth”

The United Arab Emirates (UAE) stands as a global beacon for startups and innovation, drawing entrepreneurs with its supportive government and thriving economy. Amidst the landscape fueled by innovation, the often-overlooked catalyst for entrepreneurial success is the network of free zones.

Boasting more than 40 multidisciplinary free zones, the UAE allows expatriates and foreign investors full ownership of companies—a key factor contributing to its recognition as the most favorable place to do business, as per the Global Entrepreneurship Index 2022 Report. Aligned with the UAE’s 2031 vision to double its GDP from AED 1.49 trillion to AED 3 trillion, the goal is to lead globally in proactive legislation for emerging economic sectors.

Continue reading… “Unleashing Innovation: The Vital Role of Free Zones in the UAE Startup Ecosystem”

A recent report from Goldman Sachs has unveiled a remarkable projection: a significant shift in the balance of global economic power over the coming decades. According to analysts, Asia, led by China and India, is poised to potentially outshine the conventional economic giants grouped within the Developed Markets (DM) category, altering the landscape of world GDP contributions.

In a visually striking representation of Goldman Sachs’ real GDP forecasts for 2050, a voronoi diagram illustrates this transformative shift. The projections suggest that Asia, excluding Developed Markets, will account for a substantial 40% of the global GDP share, narrowly edging out Developed Markets’ anticipated 36%. This stands in stark contrast to the scenario half a century ago in 2000 when Developed Markets represented a dominating 77% of global GDP.

Continue reading… “Goldman Sachs Report: Asia’s Rise and Latin America’s Challenges in Shifting Global Economic Power”

The COVID-19 pandemic prompted a massive reevaluation of living situations among millions of Americans, resulting in a significant shift in the economic landscape of the United States. A recent analysis of tax data conducted by the Economic Innovation Group (EIG), shared exclusively with Axios, sheds light on how these changes have impacted the financial dynamics of various cities and regions across the country.

The analysis highlights the challenges faced by some of America’s major cities in their efforts to rebuild their economies after the pandemic. Notably, the data showcases a surge in income in rural areas, exurban communities, and popular vacation destinations. The migration of residents from major cities wasn’t just limited to population numbers; it disproportionately affected higher-income individuals, intensifying the economic impact on local economies.

Continue reading… “Reshaping America’s Economic Landscape: Pandemic-Driven Migration Alters Income Geography”

Introduction: Driving along the 240-mile stretch of the Atlantic coast from Charleston, South Carolina, through southern Georgia to northern Florida reveals a profound economic shift occurring in the United States. Welcome to the New New South, where electric-vehicle factories, battery plants, and economic growth are reshaping the region. This transformative trend extends beyond the coastal area, encompassing the entire South from Kentucky to Texas. While the economic uplift is not evenly distributed, its implications for the entire country are significant. This article explores the factors driving this economic shift and the consequences it holds.

The Economic Powerhouse: Six fast-growing states in the South, including Florida, Texas, Georgia, the Carolinas, and Tennessee, now contribute more to the national GDP than the Northeast, a change observed for the first time since the 1990s. The Southeast attracted approximately $100 billion in new income between 2020 and 2021, while the Northeast experienced an outflow of around $60 billion, as per IRS data. The region has accounted for over two-thirds of job growth in the United States since early 2020, significantly increasing its pre-pandemic share. Furthermore, ten out of the fifteen fastest-growing large cities in America are located in the South. This economic transformation has led to a surge in corporate relocations to the region, as indicated by Census Bureau data.

Continue reading… “The New New South: Economic Transformation and Migration Trends”