Transcript World Economy Dr. Nisit Panthamit

World Economy
Dr. Nisit Panthamit
[email protected]
Line Up:
• Line was created in Japan in 2011 by a unit of South Korean Internet
firm, NAVER
• Line has also branched out into businesses that have long been
dominated by the likes of Google, Apple, eBay Inc. and Facebook—
including games, e-commerce, digital marketing and Internet calling.
• What makes Line stand out is how much it has expanded outside of
Japan. Japan now accounts for only 20% of Line’s users, and 80% is
from overseas. Line now has 18 million users in Thailand, 17 million
in Taiwan and 15 million in Spain, according to the company, even
though Japan is still its largest market with 47 million users
BRICS
• The economic clout and influence of BRICS nations is staggering.
Collectively, the five BRICS nations account for 42% of world
population, 20% of output, and nearly all of current growth in the
global economy.’
• “The Chinese economy is not only the second largest in the world but
also larger than the economies of the other four members
combined.”
• They are pressing for a new balance of power.”
Which Western companies are taking a hit in Russia?
‘Time bomb’: Aging population may explode
global economy by 2050
• The number of people over 60 years old has doubled in the past 30
years and is expected to grow at the same pace by 2050. Increasing
pension payments at a time of massive layoffs could result in an
unsupportable burden for the world’s economies.
• By the middle of the century more than 3 million people will be older
than one hundred years, says the business daily RBC, quoting a
United Nations report. Today the number of 100-year-olds is about
300,000.
• Improved quality of health care, intensive developments in medicine,
expanding access to education and economic well-being make a
longer lifetime possible. But while mankind may rejoice in the
opportunity of long-life, the aging population brings new challenges.
Declining Population Could Reduce Global Economic Growth By 40%
Examples of regional trade agreements
• Among the best known are
• - The European Union,
• - The European Free Trade Association (EFTA),
• - The North American Free Trade Agreement (NAFTA),
• - The Southern Common Market (MERCOSUR),
• - The Association of Southeast Asian Nations (ASEAN) Free Trade Area
(AFTA), and
• - The Common Market of Eastern and Southern Africa (COMESA).
Educating the World
Chinese Airlines Face Potential Currency
Turbulence
http://unctad.org/en/PublicationsLibrar
y/webdiaeia2015d2_en.pdf
China Just Overtook The US As The World's
Largest Economy
According to the IMF. By the end of 2014, China will make up 16.48% of
the world's purchasing-power adjusted GDP (or $17.632 trillion), and
the US will make up just 16.28% (or $17.416 trillion):
Educating the World
•
•
•
•
•
•
•
•
•
•
Pior to the initiation of economic reforms and trade liberalization 35 years ago, China
maintained policies that kept the economy very poor, stagnant, centrally controlled, vastly
inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and
investment and implementing free market reforms in 1979, China has been among the world’s
fastest-growing economies, with real annual gr
Goss domestic product (GDP) growth averaging
nearly 10% through 2013. In recent years, China has emerged as a major global economic and
trade power. It is currently the world’s largest merchandise trading economy, second-largest
destination of foreign direct investment (FDI), largest manufacturer, largest holder of foreign
exchange reserves, and is projected to become the world’s largest economy in 2014.
China’s Economic Growth and Reforms:
• Since 1979, China’saverage annual real GDP has grown by nearly 10%
(see Figure 1). This has meant that, on average, China has been able
to double the size of its economy in real terms every eight years.
China to Contribute $40 Billion to Silk Road Fund
Chinese Students Major in Luxury Cars