World economy working from home gets a glimpse of the virtual future
The lockdown gripping much of the world economy has spurred a real-time stress test of the long-heralded digital future.
Apr 15, 2020
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The lockdown gripping much of the world economy has spurred a real-time stress test of the long-heralded digital future.
Apr 15, 2020
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Business
Samsung Electronics expects higher first-quarter profits, it said Tuesday, as millions of people working from home in coronavirus lockdowns turn to cloud data services, pushing up demand for its chips.
Apr 7, 2020
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A wave of company defaults is likely to sweep the United States and Europe as measures to contain the coronavirus spark a recession, S&P Global Ratings said Friday.
Mar 20, 2020
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Taiwanese tech giant and iPhone assembler Foxconn said Tuesday its Chinese factories are operating at 50 percent of seasonal capacity and are expecting to take a hit for the current quarter due to the coronavirus outbreak.
Mar 3, 2020
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The world is coming to a standstill as the new coronavirus spreads: schools have closed in Japan, rallies are banned in Switzerland and flights are canceled worldwide.
Feb 29, 2020
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Germany's prized industrial robotics and automation sector is expecting a drop in sales this year for the first time since the global financial crisis, an industry body said on Friday.
Nov 22, 2019
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The United States imposed tariffs on a record $7.5-billion worth of European Union goods on Friday, despite threats of retaliation, with Airbus, French wine and Scottish whiskies among the high-profile targets.
Oct 18, 2019
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Japan's SoftBank Group said Friday it would partner with tech firms including Apple and Microsoft in a new $108-billion investment fund to accelerate the "AI revolution".
Jul 26, 2019
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A plunge in exports and the worst growth rates for a decade have fuelled concerns about the outlook for Singapore's economy, with analysts saying the figures offer a warning that Asia is heading for a slowdown as China-US ...
Jul 21, 2019
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Fears that President Donald Trump's trade wars will harm the economy are pervasive, but for now, America keeps chugging along with steady job creation and tame inflation, the Federal Reserve reported Wednesday.
Jul 17, 2019
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The world economy can be evaluated in various ways, depending on the model used, and this valuation can then be represented in various ways (for example, in 2006 US dollars). It is inseparable from the geography and ecology of Earth, and is therefore somewhat of a misnomer, since, while definitions and representations of the "world economy" vary widely, they must at a minimum exclude any consideration of resources or value based outside of the Earth. For example, while attempts could be made to calculate the value of currently unexploited mining opportunities in unclaimed territory in Antarctica, the same opportunities on Mars would not be considered a part of the world economy – even if currently exploited in some way – and could be considered of latent value only in the same way as uncreated intellectual property, such as a previously unconceived invention.
Beyond the minimum standard of concerning value in production, use, and exchange on the planet Earth, definitions, representations, models, and valuations of the world economy vary widely.
It is common to limit questions of the world economy exclusively to human economic activity, and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research or government cooperation makes establishing figures difficult. Typical examples are illegal drugs and other black market goods, which by any standard are a part of the world economy, but for which there is by definition no legal market of any kind.
However, even in cases in which there is a clear and efficient market to establish a monetary value, economists do not typically use the current or official exchange rate to translate the monetary units of this market into a single unit for the world economy, since exchange rates typically do not closely reflect worldwide value, for example in cases where the volume or price of transactions is closely regulated by the government. Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms of real US dollars. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's 6.6 billion people have most of their economic activity reflected in these valuations.
This text uses material from Wikipedia, licensed under CC BY-SA