WASHINGTON: The US economy is expanding faster than any other advanced nation, and in weeks will hit a historic milestone, but the International Monetary Fund and many economists are warning of building signs of trouble.President Donald Trump's multi-front trade wars, especially with economic power China and the coming conflict with Mexico, threaten to stifle growth in those countries and have dire consequences for the global economy.For now, US data is showing little impact on the overall economy but global financial markets have been shaken by the trade conflict and the US Federal Reserve this week opened the door to cutting interest rates to salvage growth.The IMF upgraded its forecast for US growth this year to 2.6 per cent, three tenths higher than it predicted in April, while growth in 2020 is seen slowing to just under two percent.The US Commerce Department reported on Thursday that the trade deficit fell in April - good news for Trump who has made that a key focus of his … [Read more...] about US economy reigns supreme but IMF warns of growing risks
Education impact on economy
Jakarta. Indonesia, an emerging middle-income country, is already the world's 16th largest economy by gross domestic product and the 10th strongest in terms of purchasing power parity, and a member of the G-20. A number of global consultancy firms and banks have reported that the world's fourth most populous nation, which has charted impressive economic growth since overcoming the Asian financial crisis in 1997-1998, has yet to unleash its true economic potentials, given the country has a large young population, is rich in natural resources and is currently seeing a middle class boom – which has boosted the number of its affluent consumers. Bloomberg reported in January, citing a report from Standard Chartered, that Indonesia could shake up the world's gross domestic product rankings by breaking into the top five in 2030. This is a much more optimistic prediction than the one made in a report by McKinsey in 2012, which said Indonesia … [Read more...] about Can Indonesia Leverage a ‘Golden Moment’ in Its Economy?
Thailand has identified 10 hi-tech industries for development in order to boost competitiveness; these range from next generation automotive production to robotics. Deputy Prime Minister Somkid Jatusripitak said that the private and state sectors would set up taskforces to work on plugging skills shortages. The meeting was chaired by Prime Minister Prayut Chan-o-cha. The chairman of the Federation of Thai Industries, Supant Mongkolsuthree, said after the meeting that the private sector also proposed to the government that it support its plan for the establishment of a private sector fund to be used for developing innovations. The fund plans to raise Bt1 billion. It also asked the government to act as a mentor of the fund in the initial phase. The private sector also handed the white papers for the plan to the premier; it had earlier given copies of the document to all political parties. The papers contain its recommendations on how the government should manage the economy. … [Read more...] about Focus on skills upgrade sharpened
PETALING JAYA: A fund will be set up to support students from B40 group to pursue their tertiary education in Information Technology studies. National applied research and development (R&D) agency Mimos and Unitar International University (UNITAR) have entered into a Memorandum of Agreement (MoA) to collaborate in a Data Scientist Programme to nurture a new generation of data scientists. Under the partnership, Mimos and Unitar will jointly conduct a training programme to inspire and develop young talents in a bid to produce industry-ready professionals in the field of data science. Through this MoA, both parties will work closely in creating a sponsorship fund, into which proceeds raised from the Data Scientist Programme will be used to support students from B40 group to pursue their tertiary education in Information Technology studies. The MoA was exchanged by Mimos Interim President and Chief Executive Officer Emelia Matrahah and UNITAR Chief Executive Officer Puvan Balachandran, … [Read more...] about Mimos and Unitar to create fund for B40 students to pursue IT education
For innovation to succeed, it should meet people’s needs and wants. Brands can build better relationships with their consumers and audiences if they are able to do that. It can also help preserve the long-term benefits of a digital economy that works for all. This is one of the central messages that emerges from the Digital Society Index 2019, a project of Dentsu Aegis Network (DAN) developed in collaboration with Oxford Economics, which combines a primary survey of more than 43,000 people across 24 countries with economic and statistical analysis. Trust in big tech is falling. This survey first started in 2018, and even the collapse in trust in the use of digital technologies has been observed. The number-one cause of distrust is the misuse of personal data. Stronger regulation of technologies like artificial intelligence is being proposed. And social media has been blamed for both political polarization and misinformation. Thirty years from the birth of the World Wide Web and … [Read more...] about The Digital Economy gives you the power to be a better version of yourself