Economic System – Avance Economico http://avanceeconomico.com/ Mon, 21 Nov 2022 17:47:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://avanceeconomico.com/wp-content/uploads/2021/07/icon-7.png Economic System – Avance Economico http://avanceeconomico.com/ 32 32 Business leader urges UK PM Sunak to increase economic immigration https://avanceeconomico.com/business-leader-urges-uk-pm-sunak-to-increase-economic-immigration/ Mon, 21 Nov 2022 17:36:26 +0000 https://avanceeconomico.com/business-leader-urges-uk-pm-sunak-to-increase-economic-immigration/ On Monday, British Prime Minister Rishi Sunak faced pressure to increase immigration to fill labor shortages in the UK. Attending the Confederation of British Industry (CBI) annual conference in Birmingham, Sunak has been urged to agree a ‘new deal’ on immigration, allowing more skilled workers to enter the UK with fixed-term visas. The Prime Minister […]]]>

On Monday, British Prime Minister Rishi Sunak faced pressure to increase immigration to fill labor shortages in the UK.

Attending the Confederation of British Industry (CBI) annual conference in Birmingham, Sunak has been urged to agree a ‘new deal’ on immigration, allowing more skilled workers to enter the UK with fixed-term visas.

The Prime Minister said the end to free movement of labor after the UK left the European Union was partly to ‘rebuild public consent’ in the UK immigration system, s committing to fight illegal immigration to build trust in “a system that gives businesses access to the best and brightest talent around the world.

Delivering a keynote address at the conference, CBI chief executive Tony Danker urged the government to “be honest with people”, saying “we don’t have enough Brits to fill vacancies, without talk about a skills mismatch”. .”

Danker argued that the economically inactive will not be back in the workforce soon because of the long NHS backlog and that it is “unrealistic” to close the gap with automation.

According to the latest data from the Office for National Statistics (ONS), the UK’s unemployment rate in the third quarter was 3.6% while the economic inactivity rate rose to 21.6%.

The ONS said half a million more people reported long-term illness as the main reason for economic inactivity compared to 2019 and the trend started before the COVID-19 pandemic, but it has also stated that 69% of those who became inactive due to long-term illness between the first quarter of 2021 and the second quarter of 2022 were already out of the labor market for another reason during the previous three months.

Danker called for a “new pact on immigration” that allows “economic migration to areas where we’re not going to bring people and skills home any time soon.”

“In return, we are giving back those fixed-term visas,” he said, adding that the list of shortage occupations should not only be directed to the Minister for Immigration, but also to the Secretary for Education and to businesses.

Speaking after Danker, Sunak did not say whether or not he plans to increase the number of immigrants.

“Part of the reason we ended free labor movement was to restore public consent to our immigration system,” he said.

“If we’re going to have a system that gives businesses access to the best and brightest around the world, we need to do more to give Britons confidence and confidence that the system works and is fair. It means tackling illegal migration,” Sunak said, adding, “And that’s what I’m determined to do.

Sunak said the government was launching a program to identify and attract the world’s top 100 young AI talent, saying the UK “cannot allow the world’s best AI talent to be lured to America or in China”.

Pressed by the BBC on whether he will ease immigration rules, Sunak said he was “committed to reducing the number of illegal migrants”.

“And if we do, then I believe we can and it is right to ensure that the UK is a beacon for the best and the brightest in the world,” he added.

Sunak also urged companies to inform him of “pinch points” where skilled workers are needed.

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Lily Zhou is an Irish journalist specializing in British current affairs. Lily first joined the Chinese edition of The Epoch Times before focusing on the UK in 2020. Contact Lily at lily.zhou@epochtimes.com

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Xi calls for free and open trade at APEC economic leaders’ meeting https://avanceeconomico.com/xi-calls-for-free-and-open-trade-at-apec-economic-leaders-meeting/ Sat, 19 Nov 2022 06:21:00 +0000 https://avanceeconomico.com/xi-calls-for-free-and-open-trade-at-apec-economic-leaders-meeting/ BANGKOK – President Xi Jinping said on Saturday that free and open trade and investment are among the goals and principles of the Asia-Pacific Economic Cooperation (APEC) and an important pillar in realizing the Putrajaya Vision 2040. Xi made the remarks when he continued his attendance at the 29th APEC Economic Leaders’ Meeting, which focused […]]]>

BANGKOK – President Xi Jinping said on Saturday that free and open trade and investment are among the goals and principles of the Asia-Pacific Economic Cooperation (APEC) and an important pillar in realizing the Putrajaya Vision 2040.

Xi made the remarks when he continued his attendance at the 29th APEC Economic Leaders’ Meeting, which focused on discussions on sustainable trade and investment. The President stressed the importance of the following:

First, uphold true multilateralism and uphold the multilateral trading system. More needs to be done to safeguard the rules-based multilateral trading system, ensure the security and stability of global industrial and supply chains, foster an open, fair and non-discriminatory trade and investment environment, and strive to quickly reach a comprehensive, high-standard Asia-Pacific free trade area.

Second, champion inclusiveness for the benefit of all. More attention should be given to inclusive development. Efforts are needed to build a regional economic cooperation architecture with equal consultation, joint participation and shared benefits, and foster a large Asia-Pacific market that brings benefits to all, so that all economies can grow together through interconnected development and achieve gains – win cooperation through complementarity.

China proposed initiatives to revitalize rural areas, support small and medium enterprises that use special and sophisticated technologies to produce new and unique products, and advance economic inclusion through trade and investment. They aim to spread the dividends of development and innovation among more people and facilitate inclusive and sustainable development for all in the Asia-Pacific region.

Third, maintain open regional cooperation for the prosperity of Asia-Pacific. It is important to take more initiatives to open up and raise the level of regional economic cooperation in all respects. China will not waver in its commitment to high-level opening up. China will open its door even wider.

The fifth China International Import Expo held recently is another demonstration of China’s firm determination to uphold free and open trade and open up its market to the world. China will do more to import quality goods and services and create more market, growth and cooperation opportunities for the world.

The meeting released the 2022 APEC Economic Leaders Statement and the Bangkok Bio-Circular-Green Economy Goals.

Wang Yi was present at the meeting.

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ECB’s Financial Stability Review shows risks rising as economic and financial conditions deteriorate https://avanceeconomico.com/ecbs-financial-stability-review-shows-risks-rising-as-economic-and-financial-conditions-deteriorate/ Wed, 16 Nov 2022 09:04:44 +0000 https://avanceeconomico.com/ecbs-financial-stability-review-shows-risks-rising-as-economic-and-financial-conditions-deteriorate/ November 16, 2022 Households and businesses face multiple challenges, including a weaker economic outlook, rising inflation and tighter financial conditions Reduced market liquidity increases the risk of disorderly asset price adjustments, which could test the resilience of investment funds Governments must ensure that support for vulnerable sectors is targeted and does not interfere with the […]]]>

November 16, 2022

  • Households and businesses face multiple challenges, including a weaker economic outlook, rising inflation and tighter financial conditions
  • Reduced market liquidity increases the risk of disorderly asset price adjustments, which could test the resilience of investment funds
  • Governments must ensure that support for vulnerable sectors is targeted and does not interfere with the normalization of monetary policy

Risks to financial stability in the euro area have increased amid soaring energy prices, high inflation and weak economic growth, according to the November 2022 Financial Stability Review published today by the European Central Bank (ECB). At the same time, financial conditions have tightened as central banks act to contain inflation.

“Individuals and businesses are already feeling the impact of rising inflation and slowing economic activity,” said ECB Vice President Luis de Guindos. “Our assessment is that risks to financial stability have increased, while a technical recession in the eurozone has become more likely.”

These recent developments increase the vulnerability of households, companies and governments which hold more debt. They are also aggravating tensions in financial markets and testing the resilience of investment funds. Additionally, all of these vulnerabilities could deploy simultaneously, potentially reinforcing each other.

Corporate sector challenges have increased amid rising energy and other input costs, with profits expected to decline as financing costs rise. If the outlook deteriorates further, an increase in the frequency of business failures cannot be ruled out, especially among energy-intensive businesses.

Inflation, as well as soaring gas and electricity bills, are also hitting households, diminishing their purchasing power and potentially reducing their ability to repay their loans. Low-income households that typically spend a larger share of their income on energy and food are particularly affected.

As businesses and households find it increasingly difficult to service their debts, banks could face larger credit losses in the medium term. Although the banking sector has recently seen a turnaround in profitability thanks to rising interest rates, there are emerging signs of deteriorating asset quality, which may warrant larger provisions.

Many governments have provided fiscal support to businesses and households to mitigate the impact of rising energy prices. However, high levels of public debt in the wake of the pandemic, coupled with tighter financing conditions, limit the scope for fiscal expansion measures that do not trigger debt sustainability risks. Support should therefore be temporary and targeted to those most affected.

Uncertainty about the outlook for inflation and interest rates has heightened the risk of a disorderly adjustment in asset prices in financial markets, despite recent corrections. Many investment funds remain heavily exposed to further valuation and credit losses. Those with large structural liquidity mismatches and low liquidity buffers are particularly vulnerable to market disruptions and fund outflows. The decrease in liquidity in certain financial markets could also pose problems for adjusting portfolios or raising funds. It also increases the risk of surprisingly large margin calls, which could exacerbate adverse market dynamics if funds are forced to sell assets to meet them.

Overall, the euro area banking system is well placed to face many risks, partly thanks to regulatory and prudential policy reforms over the past decade. Given the deteriorating economic and financial outlook, targeted macroprudential policies such as capital buffers can help further strengthen the resilience of the financial system.

Persistent vulnerabilities and risks in the non-banking financial sector require special attention from relevant supervisors. Urgent progress on regulatory frameworks is needed to strengthen the resilience of the sector, in particular to address liquidity mismatches and leverage.

For media inquiries, please contact Daniel WeberPhone. : +49 172 8344 539.

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Leadership is key to unlocking Nigeria’s growth potential https://avanceeconomico.com/leadership-is-key-to-unlocking-nigerias-growth-potential/ Sun, 13 Nov 2022 21:13:00 +0000 https://avanceeconomico.com/leadership-is-key-to-unlocking-nigerias-growth-potential/ Last week, this column discussed the need to rethink productivity and economic growth in Nigeria based on the presentation by eminent economist Dr. Ayo Teriba. This week we will examine the role of leadership in creating a new model of economic growth to give our country a leap forward. Nigeria’s unfavorable economic situation is bad […]]]>

Last week, this column discussed the need to rethink productivity and economic growth in Nigeria based on the presentation by eminent economist Dr. Ayo Teriba. This week we will examine the role of leadership in creating a new model of economic growth to give our country a leap forward.

Nigeria’s unfavorable economic situation is bad news; many have accepted as the norm that the country will continually operate below its economic potential. This dire economic reality is the result of decades of bad economic policies and implementation, a turbulent political history marred by military incursion into politics, corruption and the burgeoning hardship occasioned by insecurity, economic sabotage, climate change, global pandemic crises and the Russia/Ukrainian crisis. Nigeria is on its knees economically – with a high debt profile, low mono-commodity (crude oil) revenues that are not even enough to repay debts, insufficient foreign exchange reserves, an exchange rate crisis that saw the value of the Naira hammered against other global currencies, high inflation and high interest rates.

The Nigerian economic statistics are grim and are causing undue concern among many stakeholders in the Nigerian project. Nigeria navigated the troubled waters of a financial quagmire for a few decades and survived it, albeit with significant economic bruises. The prevailing sentiment is that whatever happens, Nigeria will survive, things will go on as usual and nothing will change for the better. William Pollard, a leading figure in leadership, warned against this state of path addiction when he opined that “the arrogance of success is thinking that what you did yesterday will be enough for tomorrow.” The economic policies and actions that have kept us in our current financial quagmire must change for meaningful progress. Nigeria no longer needs the survival economy; we need the economy of growth, prosperity and a decent quality of life for Nigerians.

A fundamental problem that destabilizes our economy is the lack of liquidity. Our negative balance of payments is the source of this illiquidity because our export earnings are much lower than the expenditure on goods imported from abroad. This leads to a decrease in our foreign exchange reserves and a concomitant shortage of foreign currency to meet the import needs of foreign goods and services. This scarcity creates a parallel market that often contributes to the destruction of the value of the Naira. The unofficial devaluation of the Naira makes the cost of foreign goods expensive, all the more so given the inflation that is ravaging some of these countries after Covid-19. Local and imported inflation is the bane of our economy.

The Nigerian government needs to earn more money from oil revenues and taxes and depend less on borrowed funds to cover recurrent and capital expenditures. They have to cover budget shortfalls with massive loans from local and international institutions with high interest rates, and we are still figuring out how our children will pay for them in the future. Even at a time of rising oil prices globally, Nigeria has not benefited to the full due to low volume of oil production and oil theft which have prevented Nigeria from reaching its monthly OPEC quota. The non-oil sector contributes little to Nigeria’s income statement, as most of this trade is in primary products with little or no additional value added in the value chain, and these goods generate less revenue in the international market, which negatively affects our income. statement.

Unleashing Nigeria’s growth potential highlights the need, among other things, to improve its liquidity to stabilize the system and grow the economy. The government must stabilize exchange rates, interest rates and inflation to bring about meaningful improvements in our economy. The exchange rate regime depends on the adequacy of our foreign exchange reserves. The global economy offers two ways to increase our foreign exchange reserves. Either you earn more exports or you attract more foreign direct investment (FDI). Nigeria has always preferred the export route. However, from 2010 to date, world exports have stagnated and even declined due to low commodity prices. This has greatly affected Nigeria.

Most countries rely on a massive influx of FDI, which is the economic model chosen by Saudi Arabia, Brazil, India and others. These countries get more FDI to make up for export deficits. Foreign direct investors will only come to Nigeria with offers of equity investment in public assets and a suitable investment climate. We have offered foreign investors an opportunity in the Nigeria LNG project, which has produced substantial investment results. We also did it with the liberalization of the GSM sector, and we could see the influx of investments.

The interest rate is another crucial factor in productivity and growth. Financial institutions offer interest rates on business loans they need to run or grow their businesses. The higher the interest rates, the less likely companies are to borrow for expansion, and the lower the interest rates, the more companies are likely to borrow for operational and growth reasons. Individuals also borrow from financial institutions for personal loans, credit cards or commodity loans. The lower the interest rate, the more likely individuals are to borrow to purchase goods and services that help businesses grow, especially if local businesses produce the goods and services. Another impact of interest rates is that they are often compared to savings rates. The higher the interest rate on loans, the higher the interest rates on savings. When interest rates on savings are high, people tend to save, but when they are low, people tend to invest, especially in the stock market.

Exchange and interest rates are monetary instruments that influence the rate of inflation. Nigeria needs to stabilize its income by expanding its sources of income, financializing its assets – especially its real estate, infrastructure and portfolio assets – and maximizing value chains across the various productive sectors. It must develop its workforce to acquire the skills needed in the knowledge economy, where knowledge and innovation are the keys to greater productivity. Therefore, human capital development is crucial to unlocking Nigeria’s growth potential.

Unleashing Nigeria’s growth potential requires new economic thinking by leaders in the public and private sectors. Only good leadership that understands how to unlock Nigeria’s great opportunities in line with global realities and using tools and resources that work will pull Nigeria out of its economic quagmire. Therefore, the 2023 elections provide an opportunity for leadership change, and Nigerians must seek leaders who understand where Nigeria needs to go for growth and prosperity and who have what it takes to take them there. the Nigerians. The intention to make Nigeria great is not enough, the ability and the intellectual ability to deliver is essential. Now is the time for transformational leaders in Nigeria. Nigeria needs leaders who create vision and use highly skilled people rather than politicians to lead Nigeria’s economy. Bring smart people together and develop and implement ways to improve revenue, optimize assets, and effectively manage our liabilities.

It is the responsibility of leadership to provide opportunities and the responsibility of individuals to help maximize opportunities. The government, for its part, must completely overhaul the economic system and structures to promote liquidity. Just as cash flow is the lifeblood of a business, government fiscal and external liquidity is essential to stabilizing the economy. All avenues to improve government revenues must be explored and used to make government constantly liquid and viable.

In addition to managing its monetary policies, the government must tighten its fiscal policies to raise per capita income and increase employment while reducing unemployment. They must create a business-friendly environment where innovation and creativity thrive and productivity is encouraged. Productivity happens within businesses, and any tough, volatile, or difficult business environment is hard on businesses and hinders their growth. The better the business climate, the more profitable the company, and the more profitable a company is, the more it attracts FDI with concomitant expansions and increases in both the companies’ balance sheets and their income statements.

The government should understand the direct correlation between economic disempowerment and the country’s socio-political problems. This is especially the case with young people who, when unproductive for a period of time, tend to indulge in anti-social behavior, low and high level crime, terrorism, banditry and secessionism. The government must develop a plan to absorb most of our young people through training in new skills and upgrading them to adapt to the new economic reality that rewards innovation and creativity more than mundane production. They should use fiscal and monetary policies to stabilize consumer and equity prices, thereby strengthening national resilience.

There is no doubt about the huge potential for unlocking its growth potential that Nigeria possesses. For a long time, Nigeria has been a country of potential – potentials that are never realized. Only transformational leadership will transform and restructure the system. We need this leadership in 2023 more than at any other time. It is unwise to do the same thing expecting a different result over and over. We need leadership with the knowledge, ability, intelligence and experience to carry out the greatest economic re-engineering the country has ever seen. All other stakeholders must contribute immensely by improving value chains within productive sectors, consuming responsibly and creating superior value that will attract material, financial and human resources from around the world to Nigeria.

We look forward to a new Nigeria!

Opinions expressed by contributors are strictly personal and do not belong to TheCable.

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CT: How the Five-Year Rail Plan Will Impact Connecticut’s Economy https://avanceeconomico.com/ct-how-the-five-year-rail-plan-will-impact-connecticuts-economy/ Thu, 10 Nov 2022 07:47:50 +0000 https://avanceeconomico.com/ct-how-the-five-year-rail-plan-will-impact-connecticuts-economy/ Nov. 8—In addition to enhanced safety measures and sustainability efforts, the state Department of Transportation predicts its five-year rail plan will increase economic growth and jobs along Connecticut’s rail corridors. While the composition of the state railway plan for 2022-2026 is in the final stages, work to achieve some of the more modest goals is […]]]>

Nov. 8—In addition to enhanced safety measures and sustainability efforts, the state Department of Transportation predicts its five-year rail plan will increase economic growth and jobs along Connecticut’s rail corridors.

While the composition of the state railway plan for 2022-2026 is in the final stages, work to achieve some of the more modest goals is already underway, said senior transport ministry adviser Carlo Leone.

The state railroad plan ensures Connecticut is compliant with the federal Passenger Railroad Investment and Improvement Act of 2008, according to a DOT statement. Work on the new plan began in 2021 and several public hearings have taken place over the past year.

The main objectives set out in the plan are divided into five categories: improving safety, maintaining good railway systems, increasing mobility, benefiting national and local economies and improving sustainability.

Although the required federal plan only spans the next four years, the DOT has set broad 20-year goals with the hope that Connecticut’s rail system, “is safe, connects communities, generates economic growth sustainable, helps build energy independence and provides links to travel corridors and markets within and outside the region.

State officials have previously touted the ambitions outlined in the plan, including cutting travel time to New York by 25 minutes and the ability to connect Connecticut passengers to New York’s Penn Station.

Highlighting missed opportunities for economic growth, the DOT also committed in the plan to leverage the rail system “to support economic competitiveness.”

A 2021 Statewide Rail Improvements Economic Impact Study conducted by the Capitol Region Council of Governments and the Pioneer Valley Planning Commission found that there has been a divestment in rail connectivity over the past few years. Last 30 years, according to plan.

Divestment began in the 1980s and resulted in the loss of “20,000 to 40,000 Metro Hartford-Springfield information technology, finance and professional services jobs due to lack of regional and intercity rail connectivity in the area,” the plan reads.

“The report further noted that in similar regions in the northeast where rail was well supported, the availability of these jobs had fueled regional economic growth, and that employees in these areas were particularly attracted by the availability of transport. railway,” the plan reads. “Finally, the study further found that investing in regional rail between Massachusetts and Connecticut could lead to a 10:1 return on investment over a 30-year period.”

Freight, an often overlooked aspect of the state rail system, will also see improvements over the next five years, according to the plan.

Additionally, the DOT plans to invest in infrastructure improvements that will allow freight trains to increase service.

“CTDOT plans to work with its freight and municipal partners to invest in rail and adjacent improvements, including infrastructure improvements that support current and future freight best practices and provide improved and more efficient freight service; improvements in intermodal operations; and transit-oriented improvements in development that will encourage sustainable land use,” the plan reads.

Connecticut’s rail freight industry is operated by the private sector as a for-profit, public benefit service. Connecticut has five freight rail routes used by nine freight operators over 577 miles, according to the plan.

According to the DOT and the Association of American Railroads, more than 43 million people and 2.9 million tons of freight are moved by rail in and through Connecticut each year.

Freight lines will also be a factor as Connecticut aims to increase state sustainability, since freight trains are three to four times more fuel efficient than trucks, according to the DOT. Passenger trains are also more fuel efficient than trucks.

Due to energy efficiency, transporting goods by rail reduces GHG emissions by 75% compared to trucking, according to the plan. Part of the state’s plan is to continue to encourage the shift from vehicles to rail travel.

On average, passenger rail can achieve fuel savings of 51.6 passenger-miles per gallon. That compares to vehicles that average 36 passenger miles per gallon, according to the DOT.

The state is also seeking to electrify all Connecticut commuter rail lines as part of its environmental initiatives.

Expanding access means electrifying rail cars, making all stops accessible to people with disabilities, shortening travel time between Connecticut and New York, and adding a way to get to Bradley International Airport without needing a vehicle.

To implement the plan’s initiatives, nearly $13 billion will be invested in the state’s rail system over the next five years.

Of the $12.7 billion, $8.7 billion is for the New Haven line; $12.5 million for the Danbury line; $120 million for Waterbury and $921 million for Hartford, and “many more millions along the corridor”, Leone said.

Abigail Brone can be contacted at abigail.brone@hearstmédiact.com.

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(c)2022 Time (Norwalk, Conn.)

Visit The Hour (Norwalk, Connecticut) at www.thehour.com

Distributed by Tribune Content Agency, LLC.

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The (high) rise of creativity https://avanceeconomico.com/the-high-rise-of-creativity/ Fri, 04 Nov 2022 13:25:46 +0000 https://avanceeconomico.com/the-high-rise-of-creativity/ Throughout our economic history, new types of resources, new technologies and new ways of organizing the market have necessitated reconsidering the functioning of intellectual property rights. History is littered with examples, from the Medici decrees which granted temporary monopolies to the creators of machines and devices, to disputes such as at the Parisian café “Les […]]]>

Throughout our economic history, new types of resources, new technologies and new ways of organizing the market have necessitated reconsidering the functioning of intellectual property rights. History is littered with examples, from the Medici decrees which granted temporary monopolies to the creators of machines and devices, to disputes such as at the Parisian café “Les Ambassadeurs”, where in 1847 a composer and a poet fought with musicians who had performed their work without their consent. Thus, society has continually had to update its laws to protect its artists, innovators and creators.

Today, we are at a new stage of economic development, where intangible digital assets used to create value are impacting the cost of real goods across the economy. As in 1847, we are once again compelled to think seriously about how to organize and build the relationships between creators, rightsholders and society, for the common good but not to the detriment of the creative elite. The reason for this is the archetypes, proven in practice over several generations. Globally, the rules of the game have changed faster than intellectual property institutions have been able to keep up. We are now in a “knowledge economy” where the key assets are neither raw materials nor production capacities, but rather the knowledge, talents and creative capacities of people who do not have the legal, organizational and technologies needed to protect their rights.

However, this new knowledge economy is no longer an isolated thing; he appears in many theories including Richard Florida’s ‘creative class’, Nick Srnicek’s ‘platform capitalism’, Daniel Bell’s ‘post-industrial society’ and John Hawkins’ ‘creative ecology’ all recognize it as a totally new economic system. Each of the aforementioned authors rightly points out that as society develops, production shifts more and more from the material sphere to the immaterial sphere, and creativity gradually becomes a key resource.

At the same time, essential differences between the concepts of “art” and “creativity” begin to be formulated. Art is essentially about creating beauty while creativity involves the creation of products and tools for survival or, in other words, development. The two main aspects that have an influence on the high demand for creativity are the formation of an innovative economy and the development of what is called a “knowledge society”. It is the one in which the market requires a person to be able to find original solutions to succeed. Almost everyone is experiencing serious and profound lifestyle changes today compared to just 10 years ago.

The changes taking place in the world around us translate into real changes in the psychological and physical state of people and require more adaptability and flexibility. Creativity has therefore become the only strategy that will allow a person to cope in the modern world and remain themselves, at the same time.

Measuring talent and creativity

Unfortunately, neither art, nor talent, nor creativity can be measured with precision. However, it is possible to measure their economic manifestations by examining the degree of development of individual industries and national economies. In the new culture of the digital world and the knowledge society whose foundation is the speed and volume of communications, the institution of intellectual property rights has not been renewed

The current management of intellectual rights is mainly predetermined by the formation of industrialization and the formation of the resulting mediation. Nowadays, most perceive intellectual property as analogous to real material property, and the management and protection of rights is mostly implemented by lawyers, patent offices and civil servants. For artists, creators, creative entrepreneurs and investors, the value and effectiveness of institutions is not at all obvious.

The very root of the relationship between key players in the global IP market and the cross-border consumer system has changed dramatically. Companies like Uber or iTunes are shaping new skills, work standards and business practices and, unfortunately, anything that doesn’t have time to evolve will be kicked out.

So many digitally immersed industries feel a lack of control over what happens to their content. A good example is music. Previously, the circulation of a music disc required and offered certain levels of control, including royalties and sales volumes; in today’s digital marketplace, content often becomes freely available to millions of people around the world. The artist’s work then begins to live its own life without the involvement or control of the author or copyright holder.

Blockchain and intellectual property

However, a new market is forming that provides real results of intellectual activity in various digital industries. Customs and business norms are reconfigured to restore the effectiveness of intellectual property, while ensuring transparency and controllability of the use of the asset in order to exercise, protect and guarantee their rights in the creation, the use and distribution of creative products.

Blockchain technology has shown impressive efficiency in circulating intellectual property and building a systemic infrastructure solution for what could be a transparent and trusted intellectual property marketplace. Its advantage is the traceability of the movement of rights and online actions of each market player, including the actions of legal persons under public law, which are traceable, accessible, visible and open to all.

Blockchain ledgers open up new opportunities for the development of legal/technological solutions, such as exchanges that enable direct transactions between genuine copyright owners and end consumers. Blockchain technology provides escrow services for proof of authorship and with the ability to control unauthorized borrowing, copying or distribution of electronic items. Properly designed and implemented digital services serve to prevent accidental and/or intentional infringement of rights, from music and literature to design, fashion and software, and for the types of businesses where intellectual property should be valued and protected.

Properly configured and applied digital services also reduce costs, making it easier for authors and copyright holders to monetize products and ensure the quick and convenient transfer and transition of creative products with related industries. , while maintaining appropriate levels of legal protection and ensuring fairness that is a substantial incentive for creators.

Thus, the gains for everyone involved in the process are obvious: the state reduces the cost of maintaining and making available the civil servants involved in the provision of services in the field of intellectual property; legal norms that are difficult to collect and quantify are replaced by automatic procedures which, if necessary, are undertaken with the participation of public law figures and, finally, a legal and transparent sector of the economy is formed, with a tax base growing.

From the mechanisms and instruments mentioned above, all actors in the artistic and creative industries derive enormous benefits, foremost among which are secure mechanisms to guarantee their rights which do not require special legal knowledge, and a means of rapid growth of audience of potential buyers. For countries that do not have excess resources to build and implement a strong intellectual property protection system, this may be the only opportunity to move to a new economic order and not get stuck in the degrading orbit. of the economy of the last century. Digital technologies are rapidly becoming the “cement” of new social contracts and a new model of governance of relations between creators, entrepreneurs and state actors.

Image by Gerd Altmann from Pixabay

Further reading

The challenges of Data, IA, Cloud, Blockchain, IoT and Cybersecurity convergence

Blockchain: a strong link to rebuild confidence in tomorrow’s agriculture?

Interview with Laurent Alexandre


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India will become a global economic power through collective efforts: Piyush Goyal https://avanceeconomico.com/india-will-become-a-global-economic-power-through-collective-efforts-piyush-goyal/ Sat, 29 Oct 2022 00:24:00 +0000 https://avanceeconomico.com/india-will-become-a-global-economic-power-through-collective-efforts-piyush-goyal/ Trade and Industry Minister Piyush Goyal said on Friday that India will become a global economic power through collective efforts. The Minister who was the chief guest at the inauguration of the Indian Institute of Foreign Trade (IIFT), Kakinada Campus, Andhra Pradesh, said that expert human resource management is required for the Indian trade gets […]]]>

Trade and Industry Minister Piyush Goyal said on Friday that India will become a global economic power through collective efforts. The Minister who was the chief guest at the inauguration of the Indian Institute of Foreign Trade (IIFT), Kakinada Campus, Andhra Pradesh, said that expert human resource management is required for the Indian trade gets more international recognition in the future.

“These human resources will be made available through the IIFTs. The establishment of this new campus marks the beginning of a new chapter,” he said. “With political stability, high competitiveness, collective efforts and a developing economic system, India will become a global economic force to be reckoned with,” he added.

He said that currently the Indian economy is worth $3.5 trillion. “A developing country can be brought up to the level of a developed country with integrated economic growth and collective efforts. With continuous efforts, India’s economy will grow tenfold in the next 25 years, by 2047, when we will mark the 100th anniversary of independence. development can be achieved by making available expert human resources to the maximum,” he said. He mentioned that the actions and the special allocation of budgets by the central government under the Atmanirbhar Bharat make the economic system of the country stronger and enriched.He also said that Andhra Pradesh is developing a lot in areas like agriculture and fisheries and Andhra Pradesh state also has various special economic zones (ANI)

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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Grow-NY Summit to inspire conversation and innovation https://avanceeconomico.com/grow-ny-summit-to-inspire-conversation-and-innovation/ Wed, 26 Oct 2022 14:07:37 +0000 https://avanceeconomico.com/grow-ny-summit-to-inspire-conversation-and-innovation/ The fourth annual Grow-NY Summit will bring together food and agriculture startups and industry players at Syracuse Oncenter on November 15-16, highlighting the spaces where farms and food, innovation and sustainability overlap . Cornell’s 2030 Project will serve as the inspiration for the two-day symposium, which will include panels and fireside discussions about its mission […]]]>

The fourth annual Grow-NY Summit will bring together food and agriculture startups and industry players at Syracuse Oncenter on November 15-16, highlighting the spaces where farms and food, innovation and sustainability overlap .

Cornell’s 2030 Project will serve as the inspiration for the two-day symposium, which will include panels and fireside discussions about its mission to seek practical, real-world climate solutions in the agribusiness sector.

“This year’s Grow-NY competition is a powerful example of The 2030 Project’s ambitions to mobilize the Cornell community, in partnership with entrepreneurs across New York State and around the world, to take action on climate change and grow the food and farms of the future,” said Ben Furnas, Executive Director of the 2030 Project.

The Grow-NY Food and Agriculture business competition serves as a platform not only for innovation, but also to spark conversations that encourage progress in food and agriculture while tackling the biggest issues facing faced by agri-food systems.

The summit, which can be attended in person or virtually, will include a pitch competition featuring 20 startups from around the world. On Nov. 17 at 9:30 a.m., a virtual awards presentation will announce the four $250,000 and two $500,000 winners, as well as one grand prize recipient of $1 million.

The event will be an opportunity for experts from various sectors to exchange new ideas and challenge existing ones. They will also be able to network at the Ecosystem Expo, where startups, incubators, economic development agencies, small business partners and other organizations that support the innovation ecosystem in New York State come together. to share their services.

The opening session of the symposium, “The 2030 Project: Driving to Net Zero in Food and Agriculture,” at 9 a.m. on November 15, will feature Lynden A. Archer, Joseph Silbert Dean of Engineering, and Catharine Young , executive director of the New York State Center of Excellence for Food and Agriculture at Cornell Agritech. Archer and Young will talk about engineering food security, preparing for a warming world and reducing greenhouse gas emissions from agriculture, a goal of the Climate Leadership and Community Protection Act of New York.

Other sessions led by Cornellian will include:

  • Finding Common Ground: Traditions and Alternatives in Protein Production (9:20-10:15 a.m., November 15): This roundtable, moderated by Sam Alcaine, MS ’07, associate professor of food science at the College of Agriculture and Life Sciences and founder and CEO of Grow -Norwhey NY runner-up Brewing will discuss whether dairy, meat and plant-based protein producers can contribute to a positive-sum system.
  • Agri-food alchemy: fight against food waste and create circularity (2-3 p.m., Nov. 15): This conversation, moderated by Lori Leonard, professor and first chair in the Department of Global Development (CAL)will discuss new technologies that allow farmers and food producers to turn food waste into profitable products such as animal feed and fuel while complying with New York’s organic waste ban on landfilling.
  • Farm of the Future Staffing: Technologies, Capabilities and Skills (9-9:55 a.m., Nov. 16): This panel, moderated by Richard Stup, Agricultural Workforce Development Program Manager at CALS and Senior Outreach Associate at the Charles H. Dyson School of Applied Economics and Management, will analyze opportunities and barriers to the adoption of robotics and other forms of automation by farms and food producers.
  • Moonshots: rethinking 21st century agri-food systems (9:55 a.m. to 10:15 a.m., Nov. 16): A fireside chat featuring Benjamin Z. Houlton, Dean Ronald P. Lynch of CALS, and Young will discuss how big ideas and innovative thinking across disciplines are the answer to nurturing people and planet as interconnected systems.
  • Accelerating New York’s Bioeconomy: Innovative Production of Food, Fiber and Raw Materials (4-5 p.m., Nov. 16): Led by Jillian Goldfarb, Associate Professor and Director of Undergraduate Studies at CALS, this roundtable will examine the role that innovation in the biomaterials sector can play in creating economic opportunities for agriculture and food production.
  • Innovations in scaling up: sustainable food production in New York and the Northeast (5-5:30 p.m., November 16): In the closing session of the symposium, Jenn Smith, Director of the Grow-NY Program, and Richard Ball, Commissioner of the State Department of Agriculture and Markets New York, will share their plans to develop vibrant local and regional food systems networks among small, medium, and large farms and food production facilities in New York State, as well as those in the Northeast.

“Each year, the Grow-NY Summit strives to drive progress in our agriculture and food systems, showcasing startups and industry players who are taking integral action to improve the way we feed our planet” , Smith said. “With Cornell’s role and the nature of the summit, we are in a unique position to spark debate and foster conversation for the benefit of New York’s agribusiness community, and all members of this community are invited to join the dialogue. .”

All-access registration for the Grow-NY Summit is $50, $25 for students, and virtual registration is free. For more information and to register, visit grow-ny.com.

Lauren Simpson is the Marketing and Communications Coordinator for the Center for Regional Economic Advancement.

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Real Estate Stakeholders Discuss Sector Challenges at the 2022 Egyptian Economic Conference https://avanceeconomico.com/real-estate-stakeholders-discuss-sector-challenges-at-the-2022-egyptian-economic-conference/ Sun, 23 Oct 2022 21:30:51 +0000 https://avanceeconomico.com/real-estate-stakeholders-discuss-sector-challenges-at-the-2022-egyptian-economic-conference/ The Egyptian Economic Conference kicked off on Sunday to discuss the conditions and future of the Egyptian economy with wide participation from high-level economists, thinkers and specialist experts. During the conference, a session was dedicated to real estate export to address the state’s efforts to maximize ways to leverage real estate wealth and establish an […]]]>

The Egyptian Economic Conference kicked off on Sunday to discuss the conditions and future of the Egyptian economy with wide participation from high-level economists, thinkers and specialist experts.

During the conference, a session was dedicated to real estate export to address the state’s efforts to maximize ways to leverage real estate wealth and establish an integrated roadmap to develop the efficiency of the real estate sector. and improve its competitiveness.

In addition, the session will discuss the export of real estate and encourage relevant parties in an integrated system to develop the export of Egyptian property, and achieve an integrated and specific roadmap to develop and improve efficiency. of this sector.

Abeer Essam, a member of the Real Estate Development Chamber of the Federation of Egyptian Industries, said the Chamber had presented several ideas to the Cabinet to help deal with economic challenges and overcome some current crises, in addition to expanding the mortgage financing for property clients and developers, and encourage the export of Egyptian property.

In addition, the Chamber argued a proposal to grant residency to foreign property buyers in Egypt to encourage them to buy and support the export of goods. The Chamber’s suggestions also included periods of time necessary for real estate developers to complete the development of their failing projects due to the COVID-19 crisis and the consequences of the Russian-Ukrainian war, high prices for construction materials, in addition to traders’ greed and its negative consequences. impact on real estate development, according to Essam.

She revealed that the Chamber will organize a real estate exhibition on the sidelines of the Egyptian Economic Conference on October 29, explaining that this exhibition serves as a message to the world that Egypt is stable and secure, calling on the world to invest in it, and the opportunities investment will be presented in this exhibition. In addition to inviting Egyptian and Arab investors and real estate investors to invest in African countries, as promising countries full of investment opportunities.

Daker Abdellah, a member of the Real Estate Investment Division of the Federation of Egyptian Chambers of Commerce and a member of the Construction Committee of the Egyptian Businessmen’s Association, said that Egypt pays great attention and great support for the real estate sector.

Abdellah stressed the need to focus on developing a vision on how to export Egyptian property through the expansion of real estate exposures in target markets in coordination between the private sector and the government. In addition, define a unified contract for the sale of real estate units to foreigners and establish a platform gathering all real estate projects in Egypt, their specifications, prices and payment methods. This electronic platform is under the aegis of the Ministry of Housing, Public Services and Urban Communities, and it is marketed separately externally.

He suggested the need to expand mortgage financing initiatives by increasing the credit limit to EGP 5 million to extend the benefits of these initiatives, especially among middle income people, to create greater popularity in the sale of real estate.

Abdellah stressed the importance of establishing a real estate market regulatory body so that the general policies and frameworks of the real estate market are set, provided that it follows the Prime Minister.

Likewise, Mahmoud El-Adl, President of MBG Developments, stressed the need to establish an international system for the export of Egyptian real estate, in which the State participates with the private sector and is represented by the Ministries of Housing, Trade and Industry, Migration and Tourism, in order to have a strong and effective role.

El-Adl added that the private sector is not the only one to manage this system and that the government must play an effective role in the export of real estate, because it will be the only mechanism capable of attracting important Foreign investments.

He explained that the export of real estate is one of the most important global exchanges and that the volume of real estate exceeds 2 billion dollars per year, while the percentage of Egypt in this trade does not exceed 2.5%, added that Egypt has a variety of real estate products between administrative, commercial, medical, residential and serviced apartments, which meet the needs of Arab and foreign citizens and investors.

He noted that the real estate market is constantly growing and there is an increasing demand for real estate due to population growth rates that reach 2.5% per year, in addition to almost one million marriages each year. . New administrative capital projects are considered the best-selling in the real estate sector. There is a demand and a desire to buy and obtain housing, and it is expected that these desires will continue to grow, especially with the government moving to the New Capital in 2022.

In early October, Prime Minister Mostafa Madbouly met with property developers to discuss ways to advance and develop the property sector, during which developers stressed the importance of working to change the philosophy of mortgage financing for Egyptians, and to provide more facilities for obtaining housing through mortgage financing. They demanded that unity be a guarantor, and they offered a number of ideas in this regard and mechanisms for their implementation.

They further offered a number of ideas and visions regarding mortgage financing and mechanisms to activate it, so as to help provide and make as many housing units available for sale as possible. They also presented a number of ideas that would help revitalize and increase the sale of housing to expatriate or foreign Egyptians, demanding that a body affiliated with the cabinet be tasked with dealing with property export and means of market it. They also demanded that real estate developers be allowed to sell to foreigners in US dollars.



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We see Britain as a world-class economy. We better think about Taiwan | Larry Elliot https://avanceeconomico.com/we-see-britain-as-a-world-class-economy-we-better-think-about-taiwan-larry-elliot/ Thu, 20 Oct 2022 09:31:00 +0000 https://avanceeconomico.com/we-see-britain-as-a-world-class-economy-we-better-think-about-taiwan-larry-elliot/ Iinflation is at its highest in 40 years. Food bills are skyrocketing. Retirees are so afraid of rising energy costs that they put off turning on their central heating. There are “tempting” cuts in public spending and tax increases to come. But too bad. Everything will be fine now that the adults are back in […]]]>

Iinflation is at its highest in 40 years. Food bills are skyrocketing. Retirees are so afraid of rising energy costs that they put off turning on their central heating. There are “tempting” cuts in public spending and tax increases to come. But too bad. Everything will be fine now that the adults are back in charge.

Jeremy Hunt was at his emollient best on his Commons debut this week. The government has learned the hard way that you get rid of orthodoxy at your peril. The Abacus economy – ridiculed by Liz Truss during her leadership bid – is essential if the UK is to capitalize on its fundamental strengths.

For now, admitted the new Chancellor, it was impossible to avoid decisions of breathtaking difficulty, but in the long term the future looked bright. Hunt then launched into a familiar riff, listing everything Britain had going for it, provided it swallowed its final dose of austerity medicine: three of the world’s top 10 universities; a global financial sector; “incredible strength” in creative industries, science, engineering, manufacturing and innovation.

To which there are several things to say. The first is that the record for doing things the orthodox way has been quite abysmal in the 15 years since the global financial crisis. Real wages barely rose, investment was weak, public finances were never straightened out, and Britain’s trade deficit hit new records. Truss was wrong about a lot of things, but his basic criticism was right: the UK economic model doesn’t work.

And while Hunt is right to point out the things Britain does well, he really only looks at the asset side of the balance sheet. The flow side makes the reading much darker. Britain depends on foreign investors to finance its huge budget and trade deficit; the NHS is in a permanent state of crisis; a lack of critical energy infrastructure means the lights may well go out this winter; trust in the police to investigate crimes such as burglaries is at an all-time low; the transportation system is dilapidated.

The economy relies on speculative money circulating in the City of London to finance the trade deficit and keep the housing market booming. It works for a wealthy elite, living in London and the South East of England, but not for the general population. Inequalities are high and there has been a rapid expansion of the informal labor market, where work is sporadic and poorly paid. All of these characteristics are those of a struggling developing or emerging market economy, rather than a first-tier nation.

Moreover, it is difficult to see how the new era of austerity will improve matters. There will be less money to upgrade infrastructure and more cuts to already cash-strapped police forces, courts and prisons. Treasury-imposed wage restrictions in the public sector will accelerate the loss of personnel to the private sector, while the highest tax levies in more than 70 years will discourage private investment. It will be harder for people to move around the country, but easier for them to fall into poverty. There are good reasons for the state to protect its citizens from an external inflationary shock, but this support will only last six months. Raising taxes and cutting spending during a recession will deepen and prolong the recession.

Truss’ botched experiment represents a setback for any new thinking, and it’s a depressing prospect. The perpetuation of the abacus economy may keep financial markets quiet for a while, but what rule by technocrats like Hunt really delivers is controlled decline. The only sustainable way to have healthy public finances is to improve the performance of the economy.

It is not, as some fondly imagine, simply reversing Brexit. Since the 2016 referendum, the UK’s growth has been nothing out of the ordinary, but it has been faster than that of Italy and Germany, and barely less than that of France.

One way forward would be to rethink the UK as an emerging market economy, aiming to emulate the success of a country like Taiwan, which makes 65% of the world’s semiconductors and 90% of its chips. advances.

There are several steps in this process. The first step is to admit that the UK is not a global economy, and has been for some time. The second step is to reflect: a sustained commitment to improving education and skills. The third step is to develop developing sectors that will provide the goods and services needed to boost exports, reduce the trade deficit and make the economy less dependent on the financial sector.

Assuming they survive Hunt’s axe, Truss Investment Zones – areas that will benefit from tax incentives and planning deregulation – are a possible route for construction. This is the model that led to the development of Canary Wharf, home to much of the financial sector, on reclaimed land in London’s Docklands.

An alternative would involve a national development plan designed to nurture the industries and services of the future. East Asian Tiger economies have used the full range of measures at their disposal, including taxation, public procurement, public ownership, state aid, infant industry support and capital controls .

Governments here were wary of activist economic strategies, largely because they thought the UK’s problems were minor and transitory. It is becoming increasingly clear that no.

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