{"id":3990,"date":"2024-09-02T11:04:00","date_gmt":"2024-09-02T09:04:00","guid":{"rendered":"https:\/\/www.rivistaeco.com\/?p=3990"},"modified":"2024-09-02T11:04:00","modified_gmt":"2024-09-02T09:04:00","slug":"around-the-world-4","status":"publish","type":"post","link":"https:\/\/www.rivistaeco.com\/en\/2024\/09\/02\/around-the-world-4\/","title":{"rendered":"Around the World"},"content":{"rendered":"

News from afar. These countries may seem distant from us, but events there are crucial to our understanding of the direction the world at large is going.\u00a0<\/span><\/i><\/p>\n

Chinese Mega Port in Peru<\/b><\/h3>\n

The Chinese are building a new mega port in Chancay, Peru, about 80 kilometers north of the capital, Lima. It will be ready by December 2024. The majority stake in the port\u2014financed through Chinese bank loans\u2014belongs to China Ocean Shipping Group, known as Cosco. In 2016, Cosco purchased the Port of Piraeus in Greece, speeding up the transport and delivery of Chinese goods to Southern Europe. Chancay will serve China, already one of the area’s main trading partners, by facilitating the influx of its electric cars into South America. Countries like Brazil will also benefit from shorter Pacific routes to sell goods ranging from blueberries to copper to China. Beyond trade flows, the “geopolitics of ports” is crucial. In 2023, China accounted for over half of global shipbuilding. According to AidData, a research lab at the University of Virginia, Beijing financed at least $30 billion in port sector projects in at least 46 countries between 2000 and 2021. Now, it controls or operates about one hundred foreign port terminals.<\/span><\/p>\n

Mexico Benefits from Friendshoring<\/b><\/h3>\n

The latest hot spot for electric vehicle production is not near the high-tech hubs of Silicon Valley or Shenzhen, but in Santa Catarina, near Monterrey, Mexico. This is where Tesla is building its first electric vehicle manufacturing plant in Mexico, a so-called “gigafactory,” expected to cost $5 billion. The factory is just the latest in a series of global commercial successes for Mexico, which have made the country surpass China and Canada, becoming the number one trading partner of the USA (source: US Census Bureau report: Bank of America, Goldman Sachs, S&P data as of December 2023). In 2023, for the first time in decades, the United States bought more goods from Mexico than from any other part of the world. The country has likely benefitted more than others from the trend of friendshoring, the deliberate political decision to encourage trade with neighbouring countries at a time when political tensions are rising worldwide.<\/span><\/p>\n

Many Elderly Poor in South Korea and Japan<\/b><\/h3>\n

South Korea has a high poverty rate among the elderly population. Seoul ranks second in this statistic, according to data reported by the Organisation for Economic Cooperation and Development (OECD), second only to Estonia. 40% of South Koreans over 65 live below the poverty line, while the OECD average is 14%. This is an additional challenge for South Korea’s pension system, already under pressure from the rapidly aging population.<\/span><\/p>\n

Homelessness Increases in New York<\/b><\/h3>\n

The number of people sleeping on the streets or in subways in New York City has reached the highest levels in nearly twenty years. This information comes from the Hope survey, conducted annually on a single night in late January, which is typically the coldest night of the year. According to the data collected, there are 4,140 homeless people in the Big Apple, which has a population of 8,336,000, up 24% from last year’s 4,042 and the highest since 2005 when the survey was first conducted. According to the advocacy group Coalition for the Homeless, the number of people living on the streets and seeking help from volunteer groups is actually even higher, totaling 9,200, an increase of 31% in the first quarter of 2024 compared to the same period in 2023. Some argue that the increase in the number of homeless people is due to the fact that the city\u2014run by Democrats\u2014has struggled to find accommodation for the approximately 70,000 migrants arriving from southern states encouraged by Republican governors.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

News from afar. These countries may seem distant from us, but events there are crucial to our understanding of the direction the world at large […]<\/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-3990","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\/09\/02\/around-the-world-4\/\" \/>\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 afar. 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