{"id":865,"date":"2024-04-17T13:45:32","date_gmt":"2024-04-17T11:45:32","guid":{"rendered":"https:\/\/www.rivistaeco.com\/?p=865"},"modified":"2024-05-27T19:47:49","modified_gmt":"2024-05-27T17:47:49","slug":"around-the-world","status":"publish","type":"post","link":"https:\/\/www.rivistaeco.com\/en\/2024\/04\/17\/around-the-world\/","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

Skyrocketing inflation in Turkey<\/b><\/h3>\n

Turkish inflation\u00a0is around 70% due to the country’s monetary policies. The independence of the central bank has been compromised recently and it will take time to reestablish its credibility. As the OECD states, the post-pandemic growth – sustained last year by the individuals’ private consumption\u00a0and the reconstruction after the serious earthquake occurred in February 2023 – has been strong but the country remains vulnerable. The elevated debt in foreign currency of the companies, especially banks, needs to be rolled over. The big challenge is to manage the effects of the increase in energy prices for low-income families, while safeguarding public finances’ sustainability. The recent victory of the opposition party in local elections is also a consequence of the government’s economic choices.\u00a0<\/span><\/p>\n

Currency crisis in Nigeria<\/b><\/h3>\n

Record levels of public debt, high unemployment, electricity shortage, a steep fall in oil production. Nigeria, historically the largest oil producer in Africa, is livign one of the worst economic crises in recent years. The Trans Niger pipeline and export terminal Forcados have been closed by their groups for maintenance, triggering a sharp drop in crude oil production. The Nigerian currency has collapsed by about 70% of its value since the debut of the new government at the end of March 2023. Such a collapse means higher costs for the many imported goods. In March inflation approached 30%, a level not seen since 1996. Consequently,\u00a0 large protests across the country have been reported.\u00a0<\/span><\/p>\n

Power of Siberia 2 pipeline in slow-mo<\/b>\u00a0<\/span><\/h3>\n

Power of Siberia 2 is a giant pipeline that potentially has an export capacity to China of 50 billion cubic meters per year, compared to the export capacity if 38-40 billion cm per year of Power of Siberia 2 in 2024. When fully operational, the new pipeline would allow Moscow to come closer to the promise that Putin made to Beijing: to ensure a total flow of over 100 billion cubic meters per year. The pipeline has been under construction for years but it seems now there are major delays, due to the Chinese counterpart. Beijing doesn’t want to spend too much money on an infrastructure that will only be fully operative in 2030 for at least three reasons: the uncertainty about future consumption, the <\/span>future of technological evolution and climate change, that could drive elsewhere economic and political priorities.\u00a0<\/span><\/p>\n

South Korean doctors vs their government<\/b><\/h3>\n

Healthcare\u00a0in South Korea is based on a public-private system, where the patient participates consistently to the expense and there is a limited coverage guaranteed by the government. So, “out of pocket” spending rules out the possibility for low-income nationals to have quality healthcare services guaranteed and it contributes to an increasingly fragmented healthcare expenditure. The doctor-patient ratio, says the OECD, is one of the lowest among developed countries: 2.6 doctors per thousand people. Switzerland, to give a comparison, is the most virtuous country where in Italy the ratio is 4.1. Another problem is South Korea is aging: process is faster than any OECD country. These are the reasons why the government is planning to increase the number of students admitted to medical schools. But younger doctors, who take on exhausting shifts for low salaries, strongly disagree and have\u00a0been going on strike. Working so much, in fact they should be happy to have new recruits’ help. Still, maybe they are afraid that the arrival of new doctors could reduce their bargaining power in asking for higher wages.\u00a0<\/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 Skyrocketing inflation […]<\/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-865","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\/04\/17\/around-the-world\/\" \/>\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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