Uncategorized
Articles by TheCuriousEconomist
Economic News
China’s GDP expected to rebound in 2023
Following 3 years of strict controls to stifle the spread of Covid-19, the Chinese economy is now ready to rebound, with most analysts predicting GDP growth of around 5 percent this year. The global pandemic […]
Consumer and Business Behaviour
Canadian Alcohol consumption at historic lows
Sales of wine and beer fell drastically in Canada from 2021-2022, demonstrating that the Canadian government’s crackdown on alcohol consumption seems to be doing the trick. Alcohol is a demerit good and governments around the […]
Consumer and Business Behaviour
Is the internet a merit good?
In 2021, the Biden Administration announced the roll out of the Affordable Connectivity Program – low cost and high-speed internet for those who couldn’t afford their own connection or have difficulty setting it up. The […]
Consumer and Business Behaviour
Starbucks to launch the Oleato… coffee with olive oil!
Milk and sugar in your coffee? Pretty normal… How about some olive oil? Not so much! Well that is exactly what Starbucks are offering in their latest line of beverages! The coffee giant, with over […]
Economic News
Nestle planning another price increase
Nestle, one of the world’s largest food and beverage companies, is planning to increase prices again this year as they grapple with food inflation and the surging cost of ingredients. The Swiss conglomerate, famous all […]
Aggregate Demand and Supply
Food prices at a 14-year high as the UK battles inflation
Annual food prices in the UK went up by 14.7% in October, representing the largest increase since records began in 2008. Driven largely by the knock-on effects of Russia’s war in Ukraine, food inflation is […]
Consumer and Business Behaviour
Elon Musk, AKA Chief Twit, has bought Twitter for $44 billion
Elon Musk has officially become the owner of Twitter, or Chief Twit as he likes to call himself, after completing a $44 billion buyout. The world’s richest man began his interest in Twitter earlier in […]
Aggregate Demand and Supply
Rampant food inflation at a 31 year high in Japan
Food prices in Japan are rising fast as producers struggle to cope with a depreciating Yen and the increasing costs of commodities. Data collected from supermarkets and other food retailers show food inflation is currently […]
Consumer and Business Behaviour
Tesla slashes China prices in the face of fierce domestic competition
Tesla has been forced to cut its prices in China as local competition from firms such as BYD and Xpeng intensifies. The price of their cheapest model in the China market has decreased by 5% […]
Aggregate Demand and Supply
Dark days for the UK economy…
The UK economy has been plunged into economic turmoil since the announcement of the mini-budget last week. Since the new chancellor, Kwasi Kwarteng, announced the largest tax cuts in 50 years the economy seems to […]
Aggregate Demand and Supply
The “mini” budget which is going to have maximum impact
The UK government has announced the largest tax cuts in 50 years as part of their mini budget to deal with the cost of living crisis and boost the wavering British economy. The UK economy […]
Consumer and Business Behaviour
The Billionaire who is giving away his Billions – Patagonia founder giving company away to fight climate change
Yvon Chouinard, the billionaire founder of the outdoor clothing brand Patagonia has announced his intention to give away ownership of his company to a trust and non-profit organisation. The new ownership structure will ensure that […]
Economic Growth
Singapore boasts the world’s largest fully automated port
Phase one of what will be the world’s largest fully automated port is now complete and the Singaporean government are loving it. Prime Minister Lee Hsien Loong sees the port as a jewel in Singapore’s […]
Economic News
French government to earn over 10 million euros in tax windfall after the discovery of secret swimming pools
Thousands of French households are facing an unexpected tax bill after the use of an artificial intelligence tool found over 20,000 unreported swimming pools. The tool, which was only trialed in a handful of regions, […]
Consumer and Business Behaviour
Farmyard fart tax to combat climate change – a novel solution from the New Zealand government!
The government of New Zealand, a country notorious for having more sheep than people, has proposed a creative way to fight the impending climate crisis – a tax on the flatulence produced by cattle and […]
Aggregate Demand and Supply
UK prices spiraling upwards as inflation hits 40-year high
The UK inflation rate is rising at its fastest rate in 40 years. This is predominantly a result of soaring fuel and energy prices, as well as recent pressure on food costs. Year-on-year inflation for […]
Basic Economic Concepts
Tesla has its own law of demand – profits soaring despite higher prices!
Price goes up, quantity demanded goes down – it is the law of demand and economics 101. Not in the case of Tesla apparently! The electric car manufacturer has recently announced soaring profits of $3.3 […]
Consumer and Business Behaviour
How effective will the UK plastic tax actually be?
On April 1st, the new UK plastic tax will come into effect. The levy on firms will charge £200 per tonne of plastic packaging containing less than 30% recycled plastic. The UK government, who announced […]
Consumer and Business Behaviour
Filipino drivers to receive fuel subsidies as oil prices rise
Filipino drivers to receive fuel subsidies as oil prices rise […]
Economic News
Jobs galore in the post-Covid recovery but who wants them?
The US economy is predicted to have created another 440,000 jobs in February, following the 467,000 which were added in January. These jobs, mainly in leisure and hospitality, show a strong economic rebound as businesses […]
Economic News
Central Bank of Sri-Lanka raises the interest rate to curb inflation
As inflation spikes throughout the Sri-Lankan economy, the central bank has responded by increasing the interest rate from 5.5% to 6.5%. This tightening of monetary policy follows three consecutive months of double-digit inflation, with the […]
Aggregate Demand and Supply
Monetary easing to free up $188 billion for Chinese banks
The People’s Bank of China, China’s central bank, announced this week that they would reduce the current reserve requirement ratio (RRR) to just over 8.4%. A reduction in RRR will allow banks to hold less […]
Consumer and Business Behaviour
Uber prices in London set to increase after high court ruling
Following a high court ruling about Uber’s relationship with their customers, the price of each ride may be about to increase by 20%. The business was previously operated in a way whereby customers entered into […]
Basic Economic Concepts
World’s major economies to release oil reserves to lower soaring oil prices
In an attempt to lower the price of oil the US is leading an international effort of other major economies to release oil reserves. The price of crude oil reached a 7-year high of $81.93 […]
Aggregate Demand and Supply
Pakistan registers a Q3 current account deficit of $3.4 billion
The economy of Pakistan has released figures showing there was a current account deficit of $3.4 billion in Q3. This is up by just under $1 billion from their Q2 figure. Although such a large […]
Basic Economic Concepts
Gas price surge leaving businesses bankrupt and consumers uncertain
The gas price surge across Europe has led to the collapse of two small UK gas providers. Avro Energy and Green, who between them serve just under a million customers, have gone bust due to […]
Basic Economic Concepts
Saudi Aramco profits increase by almost 300%
Saudi Aramco, a state-owned energy company in Saudi Arabia and the world’s most valuable company, has seen year-on-year profits almost quadruple in the second quarter of 2021. The firm, which is also the world’s largest […]
Basic Economic Concepts
There could be extreme water scarcity in Egypt this decade
Despite being home to the river Nile, Egypt could face extreme water scarcity in the next decade according to a report by MIT. The report concluded that Egypt will need to import more water than […]
Balance of Payments
El Salvador adopts Bitcoin as a legal tender
El Salvador has become the first country in the world to officially adopt a cryptocurrency as a form of legal tender. A law was passed in the Central American nation on the 9th June allowing […]
Basic Economic Concepts
Groundbreaking new drug for Alzheimer’s is going to come at a cost!
A new drug to treat Alzheimer’s has just been approved in the US but there is one big catch… it is really expensive! Priced at $56,000 for a year of treatment, the producer Biogen are […]
Curious?
State of Ohio to award 5 people $1 million for taking the Covid-19 vaccine
The US state of Ohio has recently announced an innovative scheme to encourage more people to take the Covid-19 vaccine. From May 26th, all Ohioans over the age of 18 who have received the first […]
Balance of Payments
China US trade tensions relaxing under Biden Administration
THINK LIKE AN ECONOMIST! Click here for the source article
Economic News
Ketchup can’t catchup with demand!
Imagine ordering a delicious cheeseburger and fries to your door, only to find out it didn’t come with ketchup. What are you going to dip those fries in?! Disaster… This scenario could become increasingly more […]
Balance of Payments
Australia likely to go to the WTO if China extends wine tariffs
Following the introduction in China of temporary tariffs on Australian wine imports last year, the Australian wine industry is now expecting an imminent announcement of both an increase and expansion of the tariffs. Already […]
Economic News
China’s new goal of growing productivity at a higher rate than GDP depends on rural education
After the recent ‘two sessions’ in Beijing, a series of high-level meetings which determine the economic and social policy for the next five years, the Chinese government announced that there will not be a specific […]
Balance of Payments
Pound on a high as over 20% of the UK gets vaccinated
With over 15 million people having now received their first of two Covid-19 jabs, there appears to be a rising sense of optimism in the UK economy. This has resulted in the pound hitting its […]
Consumer and Business Behaviour
China takes the number one spot for the most ‘new’ foreign direct investment in 2020
According to the latest UN figures, the Chinese economy attracted $163 billion in foreign direct investment last year. This 4% year-on-year increase is in contrast to the US economy’s 46% decline from $251 billion in […]
Consumer and Business Behaviour
Fortnite-maker Epic Games is seeking to expose the monopoly power of Apple and Google
Fortnite, one of the most popular mobile games worldwide in the last few years, has been locked in an intense battle with Google and Apple since August 2020. The creators of the popular open world […]
Aggregate Demand and Supply
China records 2.3% GDP growth in 2020
2020 is a year to forget, but we won’t… and despite the economic woes from all over the world, the Chinese economy still managed to finish the year slightly bigger than it was 365 days […]
Aggregate Demand and Supply
US Congress passes $900 billion Covid-19 relief bill – so where’s all that cash going?
After months of intense negotiations, the American government looks finally set to inject billions of dollars into the US economy. The so-called “Covid-19 relief bill” should do exactly what it says on the tin: providing […]
Aggregate Demand and Supply
Japan to lend $414 million to Myanmar for huge infrastructure project and corporate financing
A deal has been agreed between the governments of Japan and Myanmar to sign off on ¥42.78 billion (US$414 million) worth of low-interest loans. Over half of the money will be directed towards a huge […]
Economic News
China makes pledge to be ‘carbon neutral’ by 2060
In what some commentators are calling a bold and audacious pledge, President Xi announced to the UN that China will be carbon neutral by the year 2060. That gives the world’s second largest economy, and […]
Consumer and Business Behaviour
Tata Consumer Products in talks to acquire India’s largest vending business
Tata consumer products, a subsidiary of the Tata Group, one of India’s largest and most successful conglomerates, is in talks with Coffee Day to acquire the firms vending machine business. The move would bring another […]
Curious?
Rishi to the rescue: UK chancellor announces the new job support scheme
The UK chancellor, Rishi Sunak, has just announced the government’s latest scheme to save people’s jobs from the ongoing Coronavirus crisis. With the job retention scheme set to end at the end of October, both employers and […]
Consumer and Business Behaviour
An online shopping boom is fueling ships across the Pacific
In the last few months, American consumers have been going mad for online shopping, with the result being a buoyant shipping industry across the transpacific. In these coronavirus times, consumer demand for household goods has […]
Aggregate Demand and Supply
Young people are the worst affected as unemployment creeps up in the UK
The unemployment rate in the UK has risen to its highest level in two years, with an official figure of 4.1% released by the office for national statistics. Given the devastating impact of Covid-19 on […]
Consumer and Business Behaviour
Striking staff could mean a shortage of Jammie Dodgers!
Biscuit fans beware, if either Jamie Dodgers or Wagon Wheels are amongst your favourites, the followings news may be distressing. Production of Jammie Dodgers and Wagon Wheels could be stopped this month as factory workers […]
Consumer and Business Behaviour
Is taxing robots the best way to protect human jobs?
According to research from Oxford Economics in 2019, up to 20 million manufacturing jobs could be replaced by robots by 2030. If we then add in those jobs from other sectors which could be easily automated, […]
Consumer and Business Behaviour
Paying for plastic bags has dramatically reduced usage in the UK
Since the UK government introduced a 5p charge for single-use plastic bags in 2015, millions of shoppers are now choosing not to use them. In data compiled by the UK government, it was found that […]