Development of new technologies leads to automation and localization of production, while competition in services markets, on the contrary, becomes more global. This trend will change economic growth strategies for developing countries, the authors of a study published by the National Bureau of Economic Analysis (NBER) believe. The advantage will be given to countries with cheap labor since this...

Scottish whiskey exports jumped to a record high in 2019 amid booming sales in Taiwan and India, offsetting concerns about trade tariffs and uncertainties over Brexit, Reuters reports. Sales of Scotch whiskey overseas grew by more than 4% to 4.9 billion pounds (6.36 billion dollars) in 2019. Exports of Scotch whiskey to Taiwan grew last year by 22%, and to India - by 19.7%. The United States...

Smartphone sales in China could fall by 50% in the first quarter due to the fact that many retail stores have been closed for a long period, and production has not yet fully resumed due to the rapidly spreading coronavirus, reports Reuters. Canalys researchers report that supplier-planned new product launches will be canceled or delayed. In particular, the epidemic could disrupt China’s plans to...

The volume of Chinese foreign investment is significantly overestimated; it is not excessive, even in African countries given the size of the Chinese economy, follows from the calculations of experts at the Washington Institute of International Finance. Since 2016, investments have decreased by 40%, including over the past year - by 8%, to $ 110.6 billion due to capital restrictions, high...

The dollar has updated a four-month high on the world market. The confident strengthening of the US currency is taking place against the backdrop of continuing risks regarding the expansion of the coronavirus epidemic, strong data on the US economy, as well as the failure of the impeachment procedure of President Donald Trump. On Thursday, February 6, the dollar exchange rate on the world market...

The total weight of assets of world funds investing in gold have updated their historical maximum, exceeding the mark of 2.57 thousand tons. The record is updated against the background of information on the coronavirus spread in the world, which could adversely affect the global economy. International investors are moving away from risky assets into defensive ones such as gold. The assets of...

Demand for oil in China fell by about 3 million barrels per day, or 20% of total consumption, Bloomberg reports citing sources. This happened against the backdrop of the Chinese coronavirus outbreak. China is the largest importer of oil; it consumes about 14 million barrels per day. This is enough to satisfy the needs of France, Germany, Italy, Spain, Great Britain, Japan and South Korea. The...

Lack of liquidity in 2020 will be the main problem for traders who will be facing this phenomenon every day, experts surveyed by JPMorgan Chase said. Respondents also said that they increasingly depend on artificial intelligence in their work. The main problem that traders will be facing daily in 2020 will be a lack of liquidity. This conclusion was reached by JPMorgan Chase, having interviewed...

Following the January meeting, the US Federal Reserve System left the key rate at 1.5-1.75% per annum. The regulator refrained from giving any new signals, once again indicating in its statement that the current policy is consistent with existing goals. Experts point out that in the context of stable growth of the American economy and the conclusion of the first phase of a trade agreement with...