Thanks to K-pop, IT and medical research, South Korea has now been deemed the fifth most innovative economy in the world.
An innovator rises: South Korea was ranked in the top five of the Global Innovation Index (GII) 2021, according to a report published on Monday by the World Intellectual Property Organisation (WIPO), a specialized agency of the United Nations.
Economists believe that China’s growth could lead it to surpass the United States as the world’s most powerful economy by 2020, according to a new research report released by Standard Chartered Bank.
The report suggested that the U.S. will not only lose its crown as the world’s biggest economy but that it will be unlikely to regain it anytime soon, according to Business Insider.
Shanghai is currently hosting China’s massive trade fair aimed to show the country’s support for a global open market.
The first China International Import Expo kicked off on Monday, attracting over 400,000 local buyers and more than 3,600 businesses from 172 countries based on official numbers.
The World Economic Forum (WEF) has released a new ranking on the world’s most competitive and innovative economies which places Singapore on the second spot just behind the United States.
Based on the report released on Wednesday, Germany places third while Switzerland, which sat on top of WEF global competitiveness rankings for almost a decade, drops to fourth place.
Asian Americans have the highest income inequality among all ethnic groups in the United States, a new report from the Pew Research Center said.
The observation comes as Asians remain the most financially successful of all groups, earning a median annual income of $51,288 to Whites ($47,958), Blacks ($31,082) and Hispanics ($30,400) in 2016.
K-pop boy group BTS could impact South Korea’s economy by nearly $1 billion, a government official said.
The seven-member group, whose overseas popularity surged in recent months, may actually be the nation’s biggest stars yet.
China’s efforts in recruiting educated Taiwanese citizens have placed Taiwan at a grave risk of suffering from a massive brain drain, experts warned.
Based on official government data 2015, over 720,000 of Taiwan’s 10 million strong workforce sought better job opportunities abroad, revealing that 72.5% of them have at least an undergraduate degree or higher.
North Korea has routinely been described as a poor country which heavily relies on Chinese aid and economic cooperation.
Recent reports have surfaced, however, that the hermit kingdom may actually be sitting on a massive fortune in the form of untapped mineral resources.
Although Donald Trump anticipates a “very difficult” meeting with Xi Jinping at Mar-a-Lago this week, 44% of Americans have gained positive views of China, according to a recent survey.
That figure is up from 37% in 2016, but China’s unfavorability has dropped from 55% to 47% over the past year, according to Shanghaiist, citing a Pew Research Center survey that was released on Tuesday.
A growing middle class is slated to become a third of China’s population by 2030, according to a report released on Wednesday.
This class of consumers is poised to spend as much as the level currently seen in the European Union, South Korea and that of the United States back in 2000.
On Thursday, June 23, the people of Britain voted for their country to leave the European Union (EU), otherwise known as “Brexit.” More than 30 million people voted, and those in favor won by a narrow margin of 52% to 48%, signalling the beginning of what may be the disintegration of one of the world’s largest economic alliances.
Formed after World War II, the EU was created as a pact of economic unity between Germany and France. Ultimately more European countries joined in the later decades, including the United Kingdom, for a total of 28 members.
China is hoping sales of rice cookers and smart toilet seats will pick up its economy.
The Chinese government plans to focus on driving the economy with domestic consumption rather than trade and investment. According to South China Morning Post, cabinet documents reveal that officials are pushing to develop better products including electric rice cookers, kitchen appliances, air purifiers, smartphones, toys and luxury toilet seats.