Items tagged with globalization:
News & Updates:
Is Universal Basic Income(UBI) an effective strategy for combating higher living costs and helping people integrate back into the workforce? One place where this idea was tested was in Finland. Penn economics professor Ioana E. Marinescu discovered that the results from the Finland experiment were similar to “People living on Native American reservations…who received stipends from casino profits…[which] report[ed] lower levels of stress and depression.”
To prevent a wider trade dispute with China, US investors are hoping that a trade deal will be made. Associate Professor of Management at the Wharton School Minyuan Zhao argues “When cross-border transaction becomes more costly, or risky, companies may decide to engage in more local production, hence higher investments in the host countries…, but[it] may not indicate optimism towards the US-China relationship.”
Trump negotiates trade deal with South Korea ahead of nuclear talks; GDP in 4th quarter increased from 2.5% to 2.9%, with consumer spending rising at fastest pace in three years; Corporate profits expected to be the highest in seven years.
Dodd-Frank rollback stalls in House; President Trump secures trade deal with South Korea; China pledges open markets to avert US trade war.
Over the past weeks, China has pursued economic reforms which could have far-reaching repercussions on other major Asian economies and enterprises.
The policy shift is expected to reinforce Chinese firms’ attempts to move up the value chain, seriously threatening other advanced economies like Korea and its manufacturing and tech firms.
“This is a major challenge. China is imitating both Japan and Korea by moving to higher value-added products and technologies,” says Faculty Affiliate Mauro Guillen.