From El Pais... "For New Zealand, having only five million inhabitants and being thousands of nautical miles away from the global supply chain are by no means insurmountable obstacles. The country has demonstrated that economic development can be achieved with a strategy based on cultivating competitive advantages and forging trade agreements with the rest of the world." Read more here.
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Her hit book Doughnut Economics laid out a path to a greener, more equal society. But can she turn her ideas into meaningful change?by Hettie O'Brien
Read here in The Guardian. "Recreational vaping will be banned in Australia, as part of a major crackdown amid what experts say is an "epidemic". Minimum quality standards will also be introduced, and the sale of vapes restricted to pharmacies. Nicotine vapes already require a prescription in Australia, but the industry is poorly regulated and a black market is thriving." Read more here.
From tutor2u.net:
"Every now and again you get an article that perfectly encapsulates a little bit of economic theory. This is one. Please read: Bargain hunters visiting supermarkets four times a week (BBC News) The BBC article highlights research by Kantar that indicates that in the current high inflation environment, shoppers are making an increased number of trips to shops in search of deals. It's exactly what economic theory predicts that they will do, illustrating the concept of shoe leather costs; that is, at times of high inflation people will spend more time searching for bargains, going from shop to shop, wearing out their shoes." Read more here From the Financial Times:
"Brazil and Argentina will this week announce that they are starting preparatory work on a common currency, in a move which could eventually create the world’s second-largest currency bloc. South America’s two biggest economies will discuss the plan at a summit in Buenos Aires this week and will invite other Latin American nations to join. The initial focus will be on how a new currency, which Brazil suggests calling the “sur” (south), could boost regional trade and reduce reliance on the US dollar, officials told the Financial Times." Read more here.... if that link doesn't work then try here. New Zealand will phase in a near-total tobacco ban from next year.
Legislation passed by parliament on Tuesday means that anyone born after 2008 will never be able to buy cigarettes or tobacco products. Read more on BBC here. "The World Trade Organization (WTO) has found that tariffs on steel and aluminium imports that were imposed by the US under former President Donald Trump violate global trade rules.Mr Trump had claimed national security concerns when he announced the new border taxes in 2018, sparking a wave of trade fights around the world.
The WTO rebuffed that argument, saying the duties did not come "at a time of war or other emergency". The US said it stood by the tariffs. The US "strongly rejects" the ruling and has no intention of removing the measures, assistant US trade representative Adam Hodge said." Read more here at the BBC. A new three part podcast from the BBC asks "Are we entering a new era of national economic self-reliance?"... a great listen for you as we explore the argument of free trade versus protectionism. Listen to the first episode here.
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Maree SpraggonTeacher of IB Economics at the American School of Budapest Archives
February 2024
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