{"id":2132,"date":"2024-05-16T19:41:47","date_gmt":"2024-05-16T17:41:47","guid":{"rendered":"https:\/\/www.rivistaeco.com\/?p=2132"},"modified":"2024-05-27T17:58:25","modified_gmt":"2024-05-27T15:58:25","slug":"around-the-world-2","status":"publish","type":"post","link":"https:\/\/www.rivistaeco.com\/en\/2024\/05\/16\/around-the-world-2\/","title":{"rendered":"Around the world"},"content":{"rendered":"

News from countries we feel distant from us. They deserve our attention though, to understand better which direction the world is going to.\u00a0<\/span><\/i><\/p>\n

From Turkmenistan to Kyrgyzstan: trade with EU’s\u00a0skyrocketing\u00a0<\/b><\/h3>\n

Since March 2022 – the aftermath of the Ukraine invasion from Russia – till December 2023, luxury goods and European machinery skyrocketed in Turkmenistan, Uzbekistan, Tajikistan, and Kyrgyzstan. During that time, according to the International Monetary Fund data, Italian exports’ growth in Kyrgyzstan was over 30%.\u00a0 This phenomenon concerns Europe in particular, but US exports to these countries are also increasing. Is this a “Russia-Ukraine conflict-related” trade diversion or is it a real circumvention of recent sanctions against Moscow? Some facts do foster the second hypothesis: the Kyrgyzstan National Statistical Committee has changed the format with which they communicate foreign trade data. Before sanctions were applied goods fell into specific categories – each with a ten-digit code – while now four-digit codes are applied, a much more generic classification that can cover a larger amount of imported\/exported goods.\u00a0<\/span><\/p>\n

Indian endless elections<\/b><\/h3>\n

About a billion people will be involved: Indian elections have the largest number of voters in the entire history. The procedure appears dreadfully complex since there are seven stages, between April 19th and June 1st, 2024, with the counting of votes set for June 4th. Often compared to China, on several aspects India is quite the opposite. Unemployment rate is much lower and foreign direct investments are higher; new data – The Economist writes – show private sector’s confidence is at its highest since 2010. More attractive than Beijing ones are also demographic and public debt data. GDP of the fifth largest world economic, that could count as third by 2027 – after US and China – grew by 8.4% in the last quarter of 2023. The Reserve Bank of India expects a similar growth for this year too, while the rating agency Moody’s, as well as other financial analysts, estimate a GDP growth of 6.8%.\u00a0<\/span><\/p>\n

The sharp rise in the cost of cocoa<\/b><\/h3>\n

Cocoa’s\u00a0price has triples in a year and on April 9th hit 10.000$\/ton. The strong rise is due to climate change, European anti-deforestation policies – aiming at protecting forests while buying cocoa – a virus affecting plans and, finally, speculation. One to watch is Ghana’s production, expected to decline sharply this year. In fact, the country will not have a sufficient quantity of cocoa beans in order to secure the harvest. In a sort of vicious circle the regulator, the Ghana Cocoa Board, to pay cocoa beans farmers relies on foreign financing but the money doesn’t arrive if sufficient quantities of seeds are not produced. Also, some analysts claim that the Eu “zero deforestation” policy will have an impact on big companies such as Ferrero, Nestl\u00e9, Mars as well as across the entire cocoa’s supply chain, especially on the smallest farmers, the weakest link of the chain.\u00a0<\/span><\/p>\n

“Shunto” negotiations for Japanese Workers<\/b><\/h3>\n

Japanese unions managed to negotiate the highest increase for wages\u00a0in the past thirty years:\u00a0+5.3%. But not all workers will benefit from it. The negotiations, known in Japanese as “shunto”, have pushed Japan’s central bank out of the negative rate policy. The BOJ raised the cost of borrowing for the first time in 17 years as it expects higher wages, which will fuel domestic demand and boost inflation. However, as reported by the Japan International Labour Foundation,<\/span><\/p>\n

only 16% of workers are union members. Plus, they’re located in large companies that can manage upward pressure on wages. Unfortunately inflation affects everyone and small and medium-sized companies’ workers will have to deal with a much smaller increase of their salary, or not at all.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

News from countries we feel distant from us. They deserve our attention though, to understand better which direction the world is going to.\u00a0 From Turkmenistan […]<\/p>\n","protected":false},"author":5734,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"coauthors":[24],"class_list":["post-2132","post","type-post","status-publish","format-standard","hentry","category-non-categorizzato"],"acf":[],"yoast_head":"\nAround the world - Rivista Eco<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rivistaeco.com\/en\/2024\/05\/16\/around-the-world-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Around the world - Rivista Eco\" \/>\n<meta property=\"og:description\" content=\"News from countries we feel distant from us. 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