President Biden unveiled a new $2 trillion American Jobs Plan on Wednesday, March 31, focused on infrastructure, the care economy, the climate and, as the name implies, creating desperately needed, good jobs. Previous U.S.
A semiconductor is a material placed between a conductor and an insulator on which integrated circuits — composed of transistors — are installed, enabling an electronic device's operation and memory capacity. The related economic sector is worth $440 billion in annual turnover and is growing steadily (+7.7% expected in 2021).
In the words of Joe Biden, America is back. And multilateralism is the name of the game. On March 31 Biden announced his American Jobs Plan, a $2 trillion infrastructure investment plan that aims to revitalize America’s manufacturing, R&D activity, job development and more. Nestled in that plan is the Biden administration’s tax playbook for the U.S. — the Made in America Tax Plan.
US infrastructure agencies have kept the country’s trains running, water flowing, and government buildings functioning during the coronavirus crisis. Now that operations are stabilizing, they can reconsider their capital-expenditure plans. What that entails will vary dramatically depending on whether the federal government provides substantial infrastructure funding as part of an economic-stimulus package. If it does, agencies will need to determine how best to spend their share.
In March, US Congress approved President Biden’s Rescue Plan. Beyond its exceptional size (although in truth it is less massive than it appears), this rescue plan marks a radical change of perspective in US economic policy: first, because of the expected consequences on future macroeconomic policies (the so-called policy mix); second, and most importantly, because it shows Biden’s path to address the disequilibria within American society.
In Japan, both the population and the birthrate are declining while the population is aging. In the manufacturing industry that supports the Japanese economy skilled workers are also aging and in short supply. For this reason, manufacturing companies are increasing their productivity by implementing digital technology in order to make up for this shortage of skilled workers.
In 2020, South Korea (hereafter Korea) managed to contain economic damage from the COVID-19 crisis to a 1% decline in GDP; second only to China. Nevertheless, the fallout from the coronavirus outbreak has exacerbated social inequalities and vulnerabilities connected to the country’s demographic deficit. In November 2019, Korea’s population declined naturally for the first time since the beginning of statistical reporting in 1981.
Overtime, world economies have organized themselves into groupings that define the structures of global multilateralism. Groupings such as the G7 and G20 represent advanced and upper middle-income countries, while the G24 represents lower middle-income countries, except for one low-income country. There are also established memberships to technical multilateral institutions such as the International Monetary Fund (IMF) and the World Bank who are quota-based.
The Soviet era brought heavy industrialization of the agriculture sector in Central Asia (CA), aiming at the expansion of cotton (called “white gold”) cultivation but also at an increase in cereals and other staple crops.
Climate change is affecting the entire South Caucasus region, which includes vast mountain ecosystems and remote coastal areas. The human security implications of climate change are likely to become more pronounced over time.