Small and medium-sized enterprises along the routes of the “One Belt, One Road” initiative – often referred to as the New Silk Road – can boost the GDP of their countries by 4% to 7% as a result of increased market access, a new World Economic Forum study finds. Lack of access to global markets is currently their main impediment to growth.
The World Economic Forum today issued a report proposing a shift in economic policy priorities to respond more effectively to the insecurity and inequality accompanying technological change and globalization. The Inclusive Growth and Development Report 2017 concludes that most countries are missing important opportunities to raise economic growth and reduce inequality at the same time because the growth model and measurement tools that have guided policymakers for decades require significant readjustment.
Herodotus tells us that it was Croesus, King of Lydia, the land from which, according to Livy, the Etruscans came, who invented the minting of coins - hence currency - by impressing his seal on the electrum, a natural alloy of silver and gold. According to ancient history, it was a temporary stopgap.
Whether one agrees with Donald Trump’s economic policies or not, the state of economy he will inherit needs to be clarified. A recent article by the Washington Post’s Catherine Rampell stated as one of her main theses that Trump will inherit a strong and vibrant economy. While other aspects of the article make interesting points, the premise upon which the article’s foundation lies upon is mistaken. The economy that is being handed to President-elect Trump is not in the most favorable conditions as claimed by the article, it is actually the contrary.
The Federal Republic of Germany assumed last December the 2017 presidency of the G-20, after China held the 2016 presidency since December 2015. Proposed in the aftermath of the financial crisis of Asia and Latin America, the G-20 started in 1999 as a long-term global-governance informal forum rather than an organisation.
Canada is the US’ 1st trading partner (US Department of Commerce, 2015). In fact, US export and import values to/from Canada was $242 and $331 billion, respectively, in 2014 and $337.3 and $325.4 billion, respectively, in 2015 (OEC, 2016; Office of the United States Representative, 2016). Features of the US-Canada special trade relationship, such as invoicing in US dollar their trade flows, their similar real income and the fact that US borders Canada by land, seem to be boosting factors for their bilateral trade flows over the decades.