Reuters (March 30)
In India, artificial intelligence has already facilitated significant job cuts. Major downsizing by Oracle and Amazon appears to be “just the beginning of the headcount reductions.” The ensuing jobs crisis in the “vast outsourcing industry spells trouble for the country’s $4 trillion consumption-led economy.” The long-term impact “of AI on the global workforce may ultimately create more jobs. First, though, it may turn India’s already weak consumption and much-vaunted demographic dividend into a nightmare.”
Tags: $4 trillion, AI, Amazon, Consumption-led economy, Crisis, Demographic dividend, Global workforce, Headcount reductions, India, Jobs, Oracle, Outsourcing, Trouble
New York Times (March 11)
“A new round of tariffs on aluminum and steel went into effect overnight. This time, no U.S. trading partner was spared.” The EU will respond with “$28 billion in retaliatory levies next month on American products, including bourbon, jeans and agricultural products.” While EU officials “hope they can still strike a deal…. President Trump seems determined to stick with his protectionist policies.” Immediate market reaction was muted, though “the sell-off has wiped roughly $4 trillion off the benchmark index in less than a month — as concerns grow that the levies will push up prices and slow growth.”
Tags: $4 trillion, Agricultural products, Aluminum, Bourbon, EU, Growth, Jeans, Market reaction, Prices, Protectionist policies, Retaliatory levies, Sell-off, Steel, Tariffs, Trading partner, Trump, U.S.
