The Economist (September 20th to 26th)
China’s workforce “has undergone an extraordinary transformation,” diversifying from its base in farming and factories. The world’s largest workforce now includes some 200 million “precarious” gig workers, who provide “a warning for the world.” With technology remaking labor markets, 40% of the labor force in urban areas is now dependent “on some kind of flexible work,” yet many of these gig workers “struggle to buy property and gain access to public services and benefits.” This transformation “will shape China’s economy and society for years to come.”
Tags: 200 million, Benefits, China, Economy, Factories, Farming, Flexible work, Gig workers, Labor markets, Precarious, Property, Public services, Technology, Transformation, Urban, Warning, Workforce
The Guardian (March 18)
“The UK remains on track for a ’disastrous decade’ of stagnant incomes and high taxes, despite cuts to public services” based on recent budget analysis. The Resolution Foundation thinktank determined that, after accounting for inflation, “typical household disposable incomes were on course to be lower by the end of the forecast period in 2027-28 than they were before the pandemic.”
Tags: Analysis, Budget, Disastrous decade, Disposable incomes, Forecast, High taxes, Household, Inflation, Pandemic, Public services, Stagnant incomes, Thinktank, UK
Newsweek (December 13)
In calling an election, Prime Minister Boris Johnson “hit the jackpot. The Conservative government, which promised to ‘get Brexit done’ and lavish cash on public services, was returned triumphantly with 365 seats, its largest Westminster majority since 1987.” The result “bears many of the signs of a once-in-a-lifetime phenomena—a critical realignment redefining the basis of British politics.”
Tags: Brexit, Conservative, Election, Jackpot, Johnson, Majority, Once-in-a-lifetime, Public services, Realignment, Westminster
The Economist (September 28)
“Has Brazil blown it?” The nation had been flying high, with an economy barely impacted by the Lehman crash and the prestige of being selected to host the 2014 World Cup and 2016 Olympics. “Since then the country has come back down to earth with a bump. In 2012 the economy grew by 0.9%. Hundreds of thousands took to the streets in June in the biggest protests for a generation, complaining of high living costs, poor public services and the greed and corruption of politicians.” The Economist believes “Brazil is not doomed to flop,” especially if it makes progress in cutting “red tape, merging ministries and curbing public spending.”
Tags: Brazil, Economy, Lehman, Olympics, Politicians, Prestige, Protests, Public services, Public spending, Red tape, World Cup
