Are Asians bad at social mobility? And how are does the return of Sri Lankans from overseas benefit the country? From local debates to global markets being affected by a deadly virus, our weekly wrap takes you around the world.
What are the pros and cons of a digital economy?
A full digital economy can drive away lots of people and perhaps increase poverty if digital transformation is done by creating limitations and wealth limits. This has greatly changed our business environment and prospering in this new economy involves more than capitalizing on knowledge assets. Read more about the economic benefits of the digital economy, here.
Is Asia bad at social mobility? Only two Asian countries made it to the top 20 of the World Economic Forum's global social mobility index. Japan came in at 15th out of 82 countries due to its educational and work opportunities, but was weighed down by its low wages. Singapore, which placed 20, scored well in education and healthcare but lagged in fair wage distribution and social protection. Denmark, Norway and Sweden topped the list, which measures the impact of a person’s socio-economic background on their success in life.
Other findings across Asia
Return of overseas Sri Lankans: why do we need them? The population of overseas Sri Lankans is nearly three million—that is, one in eight Sri Lankans live abroad.1 This community represents an outflow of human capital that could otherwise have been deployed to further economic growth and development in Sri Lanka.
This significant population of overseas Sri Lankans has the potential to create new opportunities and industries locally.
How can you build a space economy that avoids the mistakes of terrestrial capitalism? As the private sector sets its sights on doing business in orbit, space exploration is becoming space exploitation—how can humans use the environment around their planet to further their own prosperity? Read this piece from Quartz at Work to find out more.
What is the Wuhan Coronavirus doing to global markets? Wall Street stumbled Thursday amid fears that efforts to curtail a lethal virus in China could further disrupt the global economy. Overnight, China’s CSI 300 index lost more than 3 percent, while Hong Kong’s Hang Seng surrendered more than 1.5 percent, and Seoul’s KOSPI gave up 0.9 percent. Trading screens Thursday glowed red as losses spread to European markets and the United States. But wait, there’s more you need to know.
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