The environment of financial uncertainty among the Global Supply Chain networks has been fueled by the impact of Covid-19 which saw major economies around the world imposing months of lockdown, ...slowing the pace and flow of raw materials and manufactured products resulting in an economic slowdown. It has also brought to light the vulnerabilities and susceptibilities of emerging economies, like the ASEAN nations. This has resulted in collapsing of both domestic and foreign sectors like retail, accommodation, and food services. This has prompted the regional governments to boost up regional cooperation through structural reforms for sustainable economic recovery. In this respect, three sectors of tourism, agro-processing, and garments can be improvised, while two other sectors like electronics and E-trade have greater potential for future growth. In this context, the paper using content analysis and exploratory methods focuses on the impacts of Covid-19 on the sectors of tourism, agro-processing, and garments in the ASEAN region and the possible options for improvising the sectors of Electronics and E-trade to further economic recovery in the ASEAN region.
Abstract
China has pledged to peak carbon emissions by 2030 and to become carbon neutral by 2060. Achieving the targets would need great improvement of its emissions trading scheme (ETS) that covers ...half of the country's emissions. Lessons from the European Union have shown that the ETS is not only a product of the changing circumstances, but its implementation and revisions are also continuously affected by the evolving context. Using a political economy perspective, we examine whether the changing environment is also affecting China's ETS. Our analysis centres on two recent contextual dynamics with relevance to the ETS: (1) the change in the ETS authority in 2018; and (2) the impacts of the deteriorating economic environment on the climate‐energy policy complex. We find that China's ETS and its broad climate ambitions are still constrained by the tensions between the long‐term socio‐economic benefits of low‐carbon policies and the short‐term economic interests behind the government's policy motives, which led to conflicting interests and priorities among regulatory agencies and local governments. The analysis contributes to the political economy debates on emissions trading and China's environmental governance. It also provides practical insights to the policymakers with an in‐depth inquiry into the structural barriers to China's net‐zero targets.
Această lucrare are ca scop studierea funcţionării lanţului de aprovizionare în clusterul din sectorul de îmbrăcăminte. Sunt identificaţi factorii cheie care contribuie la funcţionarea eficientă a ...reţelei lanţului de aprovizionare si practicile întreprinse pentru a rezista situaţiilor economice dificile. În plus, s-a analizat modalitatea de plată a dividendelor industriei în condiţiile de performanţă a afacerii. Această lucrare foloseşte o metodologie de cercetare exploratorie bazată pe studii de caz, care îşi propune să înţeleagă relaţia cauză-efect dintre variabilele care influenţează reţeaua lanţului de aprovizionare. S-a efectuat un studiu amplu şi s-a aplicat un raţionament logic, pentru stabilirea ipotezelor şi a modelului conceptual. Au fost luate în considerare studii de caz din diferite ţări în curs de dezvoltare şi o varietate de modele de lanţ de aprovizionare au fost studiate cu atenţie pentru a propune modelele. Aceasta a condus la dezvoltarea unui model flexibil, pentru a rezista la criza economică şi, în acelaşi timp, suficient de eficient şi robust pentru a sprijini funcţionarea diferitelor noduri din reţeaua lanţului de aprovizionare din sectorul de îmbrăcăminte. Acest studiu, după cunoştinţele autorului, nu a fost întreprins într-un cluster din sectorul de îmbrăcăminte dintr-o ţară în curs de dezvoltare. Concluziile acestui studiu vor oferi suportul necesar clusterului din sectorul îmbrăcăminte, un sector fragil şi slab performant, dar contribuitor major al produsului intern brut şi generator de locuri de muncă pentru clasa de mijloc în creştere în ţări în curs de dezvoltare.
This manuscript presents a geospatial and temporal analysis of the COVID’19 along with its mortality rate worldwide and an empirical evaluation of social distance policies on economic activities. ...Stock Market Indices, Purchasing Manager Index (PMI), and Stringency Index values are evaluated with respect to rising COVID-19 cases based on the collected data from Jan 2020 to June 2021. The findings for the stock market index reveal the highest negative correlation coefficient value, i.e., −0.2, for the Shanghai index, representing a negative relation on stock markets, whereas the value of the correlation coefficient is minimum for Indian markets, i.e., 0.3, indicating the most impact by COVID-19 spread. Further, the results concerning PMI show that the highest value of the correlation coefficient is for the China i.e., −0.52, points to the sharpest pace of contraction. This reflects the lower value of the correlation indicating that the economy is on the way of growth, which can be seen from the PMI value of the various countries. The manuscript presents a novel geospatial model by empirically evaluating the correlation coefficient of COVID-19 with stock market index, PMI, and stringency index to understand the effect of COVID-19 on the global economy.
Over the past 25 years, higher growth in developing countries has contributed to a dramatic fall in global poverty, although poverty rates in rural areas remain higher than in urban areas. ...Unfortunately, projected growth rates have fallen in recent years; this article examines the impact of this slowdown on the poor, particularly the rural poor. It first uses a global model to assess the impacts of lower productivity on key price and income variables. It then uses microsimulation models for almost 300,000 households to assess the impacts on their real incomes. Although poverty rates overall are projected to fall substantially, the poorest countries see the greatest slowdown in poverty reduction, with over 5% of their population projected to remain below the poverty line. In addition, poverty rates will remain alarmingly high in many countries. Overall, 38 million fewer people will leave extreme poverty compared to earlier projections. Farm households are at particular risk in middle‐income countries, with over 1.5% more of the farming population remaining trapped in poverty than previously estimated. By 2030, average extreme poverty in rural areas is projected at about 7.5%, rather than 7.1% under the earlier growth projections. Clearly, a strong focus on policies for poverty reduction will be vital for eliminating poverty by 2030.
Given its size and integration with the global economy, Chinese economic downturn could have momentous spillovers to the rest of the world and result in a decline in oil prices. This article ...investigates whether the Chinese economic slowdown and the oil prices affect the G7 stock market. We use a Quantile-on-Quantile regression approach to capture the correlation structure between the G7 stock returns and oil price returns under different G7 market conditions with considering nuances of oil price movements and Chinese slowdown. Data are employed over the period of January 1999 ~ December 2015. Our results show that the responses of G7 stock returns to China and oil shocks are likely to be asymmetric, nonlinear and country-specific. The stock market returns of Germany, Italy and Canada appear the most vulnerable to these shocks. Our results suggest that international investors consider the states of stock market returns and oil price alongside with the interaction effect between China's economic slowdown and oil market.
Unlike most scholars, who believe that "new normal" means a decline on China's economic growth rate, we argue that the interpretation of the "new normal" has more comprehensive meanings. China had ...experienced a reduction of about 2% in its annual growth rate in the seven-year period before 2007 compared to the same period after 2007, which signalled a slight slowdown but not a severe recession. In the long run, the economic fluctuation is still in the normal range accounting for the scale effect of China as a major economy. Furthermore, expanding Internet penetration becomes a new catalyst for growth. But on the other hand, economic distortions are concealed during the high growth period which have surfaced to constrain growth, among which the distortion of the relative factor prices could be used to explain the slowdown of the economic growth. The problem of dual track of the factor prices stemming from the institutional settings should be paid more attention on. The changing of the relative factor prices is the core variable to optimize resources allocation when a country develops from a lower level to a higher level. The way to reduce these distortions including resources misallocation is the reform of the supply-side in the "new normal".
The aim of the research is to determine through the historical perspective the reasons of China’s economic slowdown in 2000-2016 and using historical data to fi nd out whether it is possible to ...return to the high rates of economic growth or at least to sustain the current GDP growth rates in between 6-7%. The hypothesis is that China is unable to return to the doubledigit economic growth rates or even to sustain the current GDP growth rates in the long or shortterm. The hypothesis will be proved through mixed methodology with the implementation of descriptive and historical research designs, which involve collection, verifi cation, and synthesis of evidence from the period since 2000-s and up to the present moment.
A study of the post-2011 economic slowdown in India that challenges liberal and Keynesian interpretations by drawing on Nitzan and Bichler's argument of 2009 that modern-day capitalist activity is ...shaped primarily by differential rather than absolute accumulation and the accumulation of power so as to squeeze and lock out competitors, monopolize resources, sabotage production and acquire unused capacity. In an exploration of the deep-rooted entanglements of power, crisis and accumulation, firm-level data from India are examined to show that a growth slowdown, economic crisis and destruction of the livelihoods of millions of people have provided an opportunity for top corporate houses to entrench their power and wealth. Crisis, in other words, has been good for business.
The Indian carpet industry has great potential in the economic development of the nation. This agri-based, unorganized sector employs millions of skilled and unskilled labors and acts as a source for ...their livelihood. The present study provides an overview of the impact of Covid-19 on the Indian carpet industry, discusses the export performance and vulnerabilities of the workers employed, identify certain export market strategies for the overall prosperity of the carpet industry. The Indian carpet industry has to pay a heavy price in the lockdown and the condition of the carpet industry is still deplorable. The sluggish demand for carpet across developed nations, closure of the production centers followed by phased lockdowns in the country and the migration of skilled labors/weavers added to its woes. The carpet industry is experiencing a tough time and it is evident with an abrupt decline in the export volumes and values of trade. To develop a strategic policy and provide job security to the workers employed in precarious jobs is the need of the hour.
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