Germany’s GDP forecast for 2013 is cut down

Due to the debt crisis in Europe economists in Germany suggest that the GDP growth rate will be 1% for 2013 instead of 1.6%.

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South African Miner Strike

South African Miner Strike

South African President, Jacob Zuma has told executives from large mining companies to freeze miners salaries for a year. Mr Zuma hopes for the mining industry to return to normal after a series of violent strikes.

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Quote of the Day

You can never cross the ocean , if you cannot risk losing sight of the shore

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Quote of the Day

“No man can become rich without enriching others.”- Andrew Carnegie

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Yahoo hires its new COO from its rival company

Henrique de Castro from Google has been appointed as Yahoo’s chief operating officer (COO). This is the second big name Yahoo has hired from its rival, Google, in the recent months. Marissa Mayer from Google was appointed Yahoo’s chief executive a few months back.

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UK inflation rate slows down

The UK inflation rate is said to have slowed down to 2.2% in September that is a record low for nearly three years. 🙂

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Unfair World Trade Cycle

I think that the world trade cycle is unfair and doesn’t give LEDC’s (less economically developed countries e.g. Kenya) to escape the clasp of poverty. This is because LEDC’s import expensive goods and technology from MEDC’s (more economically developed countries e.g USA) and export cheap goods such as bannanas to MEDC’s. This creates a TRADE DEFECIT, hence LEDC’s lose money. On the other hand MEDC’s export expensive goods and import cheap goods, therefore MEDC’s create huge profits and stay rich. The unfair trade cycle keeps rich countries rich and poor countries poor. I think to give poor countries the chance to escape the cycle of poverty they should not be taxed for exporting their goods. What do you think? Raise awareness about inequality.

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Population: China vs India

In 2011 India became the second country to have 1 billion inhabitants, second only to China. Did you know that 1 in 6 people on this planet are Indian and 1 in 5 people on this planet are Chinese. China has a population of over 1.34 billion and India has a population of over 1.24 billion people, however China’s population is gradually increasing and is predicted to decrease by 2034, whereas India adds the most people to this planet every year. The famous Chinese one child policy is said to have reduced its population by 300 million. The policy was enforced in 1979, after there had been a growth between 1950 and 1980 of approximately 440 million people. By 2034 India will most likely become the most populated country. The current fertility rate in China is 1.7, whereas in India it is 2.8. India with its growing population and growing GDP has 600 million young adults and if it harnesses these people it has the potential to become a huge economic superpower. However the problem lies, that as the population in India increases so does the gap between the rich and poor. (I also blame corruption in India for this.) With such a fast growing population India faces the threat of inflation and hyper inflation because if there is more demand than supply there will be inflation. To stop inflation India’s population needs to be stabalized. The problem in India is discipline, especially with such a corrupt system. The problem with the Chinese population trend is that even though they’ve currently managed to stabilize their population, there will come a point where thier population will dramatically drop and there won’t be enough young adults and people working to support the retired. Kind of like what is going to happen in England, but on a much larger scale. The pension age in England is going up because otherwise there won’t be enough adults working to support the economy. Who do you think is in the better position? India or China?

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Automobile industry

Car manufacturers seem to be moving forward towards electric powered battery cars for the future. They may not be very user friendly but I think its a step in the right direction. I reckon that we’ll have to make comprimises for a sustainable future. What do you think?

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