MONDAY, 13 JUL 2020

 

CONNECT

Facebook Linked In Twitter
GAP_Group_2019_728x90px
GloriaJeans_266x90px
IMH LTD

Emily Yiolitis: Resumption Of Cyprus Talks Require Termination Of Turkish Provocations

Nicos Christodoulides Attends Crucial EU Foreign Affairs Council

IMH LTD

PEOPLE

Ira Kalish: Global Economy Trends to Disrupt the Business World

Ira Kalish: Global Economy Trends to Disrupt the Business World

Ira Kalish, Chief Global Economist, Deloitte Touche Tohmatsu Ltd, spoke at the 10th Limassol Economic Forum about the latest trends in the global economy.

According to Kalish, USA has started to turn inwards which is a threat to the global system. The US withdraws from the Trans-Pacific Partnership, imposes tariffs, undermines the WTO, threatens of imposing new tariffs as well as restrictions on capital flow, bans some Chinese technologies and imposes restrictions on immigration which causes an atmosphere of uncertainty.

This uncertainty, says Kalish, has a chilling effect on investment. Tariffs boost consumer prices and costs for manufacturers and supply chains are disrupted which results in a slowdown in the global economy. The longer-term challenge is to have a global rules-based system, global alliances and cooperation as well as political integration.

Besides a potential recession risk in Europe and the US, Ira Kalish points out that there are longer-term issues to be considered such as demographics. An aging population means slower economic growth, lower inflation, lower borrowing costs and difficulty in funding pensions and healthcare while possible solutions involve higher taxes, longer working lives and more immigration. He further mentioned that China’s shifting demographics cause a declining surplus which leads to a rebalance of the global economy.

Kalish added that longer-term issues also include disruptive technological change. Technology will boost productivity but will also disrupt the labour market. After manufacturing, other industries are expected to experience disruption and skills imbalance will exacerbate inequality and populist backlash. Although STEM disciplines are needed, these jobs will be disrupted and this will lead to a greater need for skills involving communication, empathy, managing people and innovation.

 

 

 

MORE ON PEOPLE

Dr. Georgios Nicolaou: Cypriot Researcher Working For ESA/NASA Solar Orbiter Space Mission

A Cypriot researcher is part of the ESA/NASA Solar Orbiter mission team, which aims to ...

DP World Limassol Announces Nawaf Abdulla As New CEO

DP World has appointed Nawaf Abdulla as DP World Limassol’s CEO, replacing Edi ...

Katerina Sakellaropoulou Becomes Greece's First Woman President

High court judge and human rights advocate Katerina Sakellaropoulou has been elected ...

FROM AROUND GOLDNEWS

   

Increase in Education Staff Under Government Employment For June 2020

According to a press release by Cystat, in June 2020, total government employment increased by 15 persons in comparison to the corresponding month of 2019 and ...
   

Cyprus Marine Club Announces New Board Of Directors

The Annual General Meeting (AGM) was opened by Secretary General, Julia Paczkowska and then followed by Capt. Koch, Cyprus Marine Club ...
   

Nicos Christodoulides Attends Crucial EU Foreign Affairs Council

Cyprus’ Minister of Foreign Affairs Nikos Christodoulides will be in Brussels today to participate in the EU Foreign Affairs Council, which for the first ...
   

Wizz Air Abu Dhabi Announces New Route To Larnaca

Wizz Air Abu Dhabi, the newest national airline of the United Arab Emirates, announced today a highly anticipated route from Abu Dhabi to Larnaca starting on ...
   

Emily Yiolitis: Resumption Of Cyprus Talks Require Termination Of Turkish Provocations

Any prospects for the resumption of UN-led talks for a settlement to the Cyprus problem would require the termination of the Turkish provocative violations of ...
   

CSR During a Pandemic

Katerina Biloruska, Chairwoman of the non-profit Parimatch Foundation, explains how it has helped in the fight against COVID-19, whilst staying true to its ...
   

John Lewis to Close Eight Stores Permanently

John Lewis has announced it is permanently closing eight of its stores, putting 1,300 workers at risk, the BBC reports. The retailer said it had to ...
   

House Prices up by 1.1% in Cyprus in Q1 2020

House prices, as measured by the House Price Index, rose by 5.0% in the euro area in the first quarter of 2020 compared with the same quarter of the previous ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Cyprus_Investors_08/07-16/09_300x250px
GloriaJeans_300x250px

IMH LTD