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Weekly Wrap - 10th Jan

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From the lack of education entrepreneurs to educated women not partaking in the workforce, read this week’s wrap to find out more on how education affects economic growth.

Business as usual isn’t the future of e-commerce. Ecommerce is an ever-expanding world and there are many contradictory articles online regarding the future of Ecommerce. Whilst many discuss the proliferation of Ecommerce, there are a few articles predicting its death, in 2018 Harvard Business Review for example said” no industry is failing faster than retail”. The rise of global consumers with escalating purchasing power, the upsurge of social media users, and the strides in technological advances, we wanted to look beyond the sound bites and the clickbait and dig deep into deciphering just how vibrant (or not) the future of Ecommerce really is.

 

Sri Lanka needs more education entrepreneurs.

What is the real connection between education, innovation and economic development? If you take a simple human capital view of economic development, it’s fairly straightforward: if you invest in people’s education, then incomes will develop. But that presupposes that people are going to get jobs and that there’s something that’s actually driving the development. What can Sri Lanka do to meet this need?

 

Many Sri Lankan women are educated and live longer, yet do not work outside their homes. Data shows that unemployment rates are nearly double for women, and significantly higher than the national average, which hovers around 4.2%- 4.9%. These numbers have remained consistent for many years, showing the embedded structural anomaly in Sri Lanka’s economy.   

 

The geography of gender: where women work, economies grow. The fundamental necessity to provide an income has combined with slightly more favourable socio-economic conditions – such as reasonable gender parity in education levels and the status of women – resulting in these less developed economies outperforming their developed peers. At 38.2%, Uganda has the highest percentage of female business ownership worldwide.

 

Some countries are turning against single-use plastics. Indonesia's capital Jakarta will prohibit plastic bags from June in malls and markets. Bangladesh's courts have come down firmly against plastic bags, directing its government to strictly enforce a 2002 ban that has been largely ignored. Thai shoppers have turned to laundry hampers and buckets to cart their wares as a plastic bag ban took effect this year, while its plastics manufacturers and processors are appealing to the government for assistance.

The Ceylon Chamber of Commerce

Aisha Nazim

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