Latest news with #developingcountries
South China Morning Post
2 days ago
- Business
- South China Morning Post
China could become a high-income country this year, but can it stay one?
There seems to be a never-ending amount of scholarship and commentary on how China can escape the middle-income trap. It moved from low-income to lower-middle-income status in 2001, then to upper-middle-income status in 2010. However, China's next transition, to high-income status and joining the ranks of the club of developed countries, is much more difficult. While the jury is still out on exactly when it might happen, it is possible that 2025 is the year China becomes a high-income country . The data points to it passing that threshold this year, but the question remains whether it will address the structural challenges that could push it back down to middle-income status. It is important to define what economists mean by the middle-income trap . According to the China 2030 Report, jointly issued by the World Bank and China in 2013, only 13 out of 101 middle-income countries (classified by gross domestic product per capita) made the transition to high-income status between 1960 and 2008. The reason so few countries have been able to make the transition is the difficulty in achieving both the structural transformation and the technological and industrial upgrading needed. As economies and wages grow, the things these economies produce must advance as well. Countries that continue to make rather simple products while their wages continue to grow put themselves in an increasingly uncompetitive position in the global economy. This makes industrial and technological upgrading a major challenge that middle-income countries must overcome. If countries wish to continue developing and avoid the middle-income trap , the structure of the economy and the institutions that govern it must transform to meet the new reality created as economies and industries mature. When economies are poor and productive forces are yet to be fully cultivated, economic growth can solve most of their problems as developing countries still have the ability to grow rapidly.
The National
22-07-2025
- Business
- The National
A new energy era is within reach, but we need to grab it quickly
Energy has shaped humanity's path – from mastering fire, to harnessing steam, to splitting the atom. Today, we are at the dawn of a new era. The Sun is rising on a clean energy age. Last year, nearly all new power capacity came from renewables. Investment in clean energy soared to $2 trillion – $800 billion more than fossil fuels. Solar and wind are now the cheapest sources of power on Earth, and clean energy sectors are creating jobs, boosting growth and powering progress – despite fossil fuels still receiving far greater subsidies. Countries that cling to fossil fuels are not protecting their economies, they are sabotaging them – undermining competitiveness, and missing the greatest economic opportunity of the 21st century. Clean energy also delivers energy sovereignty and security. Fossil fuel markets are at the mercy of price shocks, supply disruptions and geopolitical turmoil, as we saw when Russia invaded Ukraine. But there are no price spikes for sunlight, no embargoes on wind, and almost every nation has enough renewable resources to be energy self-sufficient. Finally, clean energy spurs development. It can reach the hundreds of millions of people still living without electricity – quickly, affordably and sustainably, particularly through off-grid and small-scale solar technologies. All this makes the clean energy era unstoppable. But the transition is not yet fast or fair enough. Developing countries are being left behind. Fossil fuels still dominate energy systems, and emissions are still rising when they must plummet to avoid the worst of the climate crisis. To fix this, we need action on six fronts. First, governments must fully commit to the clean energy future. In the coming months, every country has pledged to submit new national climate plans – known as Nationally Determined Contributions – with targets for the next decade. These plans must align with limiting global temperature rise to 1.5°C, cover all emissions and sectors, and lay out a clear path to clean energy. G20 countries, responsible for about 80 per cent of global emissions, must lead. This is our moment of opportunity to supercharge the global shift. Let's seize it Second, we must build 21st-century energy systems. Without modern grids and storage, renewable power can't fulfil its potential. But for every dollar invested in renewable power, just 60 cents go to grids and storage. That ratio needs to be one-to-one. Third, governments must aim to meet the world's surging energy demand with renewables. Major tech companies must also play their part. By 2030, data centres could consume as much electricity as Japan does today. Companies should commit to power them with renewables. Fourth, we must embed justice in the energy transition. This means supporting communities still dependent on fossil fuels to prepare for the clean energy future. And it means reforming critical minerals supply chains. Today, they are riddled with rights abuses and environmental destruction, and developing countries are trapped at the bottom of value chains. This must end. Fifth, we must make trade a tool for energy transformation. Clean energy supply chains are highly concentrated and global trade is fragmenting. Countries committed to the new energy era must work to diversify supplies, cut tariffs on clean energy goods and modernise investment treaties so they support the transition. Sixth and finally, we must drive finance to developing countries. Africa received just 2 per cent of renewables investment last year, despite having 60 per cent of the world's best solar resources. We need international action – to prevent debt repayments sucking developing country budgets dry, and to enable multilateral development banks to substantially increase their lending capacity, and leverage far more private finance. We also need credit rating agencies and investors to modernise risk assessments, to account for the promise of clean energy, the cost of climate chaos, and the danger of stranded fossil fuel assets. A new energy era is within reach – an era where cheap, clean and abundant energy powers a world rich in economic opportunity, where nations have the security of energy autonomy, and the gift of electricity is a gift for all.
Daily Mail
21-07-2025
- Daily Mail
EXCLUSIVE Flight attendant exposes the huge issue airlines refuse to fix because it might 'offend' passengers - but it's making life hell for cabin crew
A former flight attendant has claimed airlines refuse to educate passengers about the proper etiquette of using plane toilets out of fear it will offend some of them. Marcus Daniels left his role in the aviation industry in 2019 after spending more than five years working as a flight attendant in Australia and the Middle East. While there were plenty of positives and negatives to the job, Mr Daniels highlighted one major issue with international flights: a lack of education about toilets. He has dozens of horror stories about the messes passengers would leave behind, mostly due to them having never used a Western-style toilet before. 'As cabin crew, you notice it happens on specific flights to specific destinations. We'll chat and find other crew picked up on the trend too,' Mr Daniels said. 'On those flights, passengers will defecate on the floor and you just do your best to smile and not say anything. 'You get used to it after a while and can start mentally preparing yourself for those flights.' In particular, Mr Daniels noted the affected routes were mainly those stopping in developing countries. 'It's not really a problem in first-world countries because we know how to use western toilets,' he said. 'Most of the confused passengers don't speak English as their first language so we can't really explain how to use the toilet. 'The issue is education. If they knew how to use the toilets, they would. 'It would be great if there were visual guides showing how to use the toilet properly, rather than just guides for flushing.' The issue may come as a shock to those who think of flight attending as a glamorous job, but Mr Daniels claimed the clean-ups were a regular occurrence. 'On these routes, we're having to constantly check the toilets to make sure they're clean and the toilet rolls aren't stuffed down the bins,' he said. 'On one flight I had a passenger who kept peeing on the floor. I tried to show her how to use the toilet, and she would nod and agree, then do it again. 'It got to the point where it was unsanitary for me as well so I had to lock off the toilet for the rest of the flight.' Despite the problem being well-known among international cabin crew, it has been largely ignored by airlines. 'Airlines are very particular about how they communicate with customers because they don't want to offend anyone,' Mr Daniels said. 'All of us are trying to be accepting of all cultures. However, there needs to be some kind of video or visual guide about using and keeping the toilets clean. 'It would be a dream come true. I have friends who are still working these routes and, nine years later, it's still an issue.'
Bloomberg
20-07-2025
- Health
- Bloomberg
A Looming Dairy Drought Will Stunt the World's Growth
It's every baby's first food, and we can't get enough of it. The world produces close to a billion metric tons of milk each year — more than all the wheat or rice we grow. That lead is set to widen over the coming decade, with dairy consumption expected to grow faster than any other agricultural commodity. On a rapidly warming planet, this poses a host of problems. Consider demand. There's more than half a billion people under the age of four in developing countries, and about a third of them suffer from stunting — short stature that's associated with health, educational and economic problems in later life. Most could benefit from the policy first proposed by Scottish nutritionist John Boyd Orr in the 1920s: provision of dairy products to give them a more nutritionally rich diet.
Yahoo
18-07-2025
- Business
- Yahoo
UK Loosens Trade Restrictions for Developing Apparel-Producing Nations
The government of the United Kingdom has launched new trade measures to benefit developing countries and forge stronger, beneficial trade relationships that it believes will amount to a 'boost for British consumers.' The package of new trade measures, which is part of an existing Developing Countries Trading Scheme (DCTS), aims to simplify the process of importing goods from other countries, which leaders say will help lower prices on necessities like clothing, food and electronics and support job growth in struggling economic markets. More from Sourcing Journal Trump Touts Trade Truce With Indonesia, Indicates India Might Not Be Far Behind Port of LA Sets June Record on 'Tariff Whipsaw'-But Signs Point to Fast Fade EU Leaders 'Prepare for War' Against Trump's Tariffs Updates to the platform include simplified rules of origin, which the government said in a statement would enable thousands of products from up to 65 countries like Nigeria, Sri Lanka, and the Philippines to enter the UK duty free, even when they contain materials and components sourced from across Asia and Africa. The update also ensures that important apparel-sourcing powerhouses like Bangladesh and Cambodia can still export clothing to the British market unencumbered by onerous duties. The announcement said that the changes will open up new commercial opportunities for British businesses to develop more resilient supply chains while investing in emerging sourcing locales. On Monday, ministers spoke with UK business leaders and global ambassadors at a joint Department for Business and Trade (DBT) and Foreign, Commonwealth and Development Office (FCDO) reception. 'The world is changing. Countries in the Global South want a different relationship with the UK as a trading partner and investor, not as a donor,' Minister for International Development Jenny Chapman said at the event. 'These new rules will make it easier for developing countries to trade more closely with the UK. This is good for their economies and for UK consumers and businesses.' Meanwhile, Douglas Alexander, the country's minister for trade policy, explained that 'No country has ever lifted itself out of poverty without trading with its neighbors.' 'Over recent decades trade has been an essential ingredient in lifting hundreds of millions of people out of poverty around the globe,' he added, saying that the scheme will allow some of the world's poorest countries important access to the UK consumer free from both quotas and tariffs. Since it launched in June 2023, the DCTS has created 16 billion pounds ($21.4 billion) in tariff savings. In addition to these changes, the UK government has committed to extending more targeted support to exporters in developing nations to help spur access and aid them in achieving standards compliance. It will also lift barriers related to the trade of services (including digital, legal and financial services) by bolstering trade agreements. Popular UK retailers like Marks & Spencer and Primark are expected to benefit from these changes. M&S director of sourcing Monique Leeuwenburgh expressed support for the evolution in trade policy and rules of origin for garments, saying, 'The ongoing collaboration between the government and retail industry has provided clarity and certainty for businesses in good time.' 'This change will enable us to maintain our long-standing and trusted relationships with our key partners in Bangladesh, to deliver the same great quality clothing and home products at great value for our customers,' she added. Eoin Tonge, interim CEO at Primark, also underscored support for the initiative. 'We welcome the changes to the DCTS rules of origin for garments which remove the potential cliff edge when a country graduates from Least Developed Country status,' he said. 'This will help us to maintain our existing supply chain strategy in our key sourcing markets in Asia, such as Bangladesh and Cambodia.' The UK Fashion and Textiles Association (UKFT) said the changes stand to benefit both the domestic fashion industry and impacted countries. Adam Mansell, the trade group's CEO, said the new rules 'demonstrate a genuine commitment from the government to modernize trade policy to support global economic growth.' Industry leaders from apparel sourcing countries also 'warmly welcome' the UK's shifting trade policies, according to Yohan Lawrence, secretary general of the Joint Apparel Association Forum (JAAF) in Sri Lanka. 'The new rules allowing greater regional sourcing for garments while retaining duty-free access to the UK are a game-changer,' he said. 'With the UK as our second-largest apparel market, this will boost exports, support livelihoods, and help us compete more fairly with global competitors.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
