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Showing posts with the label international economics

Swatch's watch satirizes Trump's 39% Swiss tariff

Swiss watch brand Swatch has released a limited-edition watch satirizing the tariff bomb imposed by the U.S. government under Donald Trump. According to Reuters and others on the 12th, Swatch launched a limited-edition product named "‘What If…Tariffs?’" on the 10th. The watch features a beige-colored strap and a blue dial. What’s unusual is that the numbers 3 and 9 on the dial are swapped. Where the number 3 should be, a 9 is placed, and where the 9 should be, a 3 is placed. This product was intentionally designed by Swatch to evoke the 39% tariff imposed by the Trump administration on Switzerland. The price is 139 Swiss francs, approximately 240,000 Korean won, and it is reported to be sold for a short period only in Switzerland. A Swatch spokesperson stated, "This product was created with intentional satire," and added that it also conveys a warning message to the Swiss government. Swatch did not disclose specific sales figures for the product. However, they state...

The Unfought Trade War

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Understanding the Impact of Tariffs on the US Economy Since the declaration of "Liberation Day" by former US President Donald Trump on April 2, there has been a growing understanding of the dynamics shaping current trade negotiations. One of the most significant aspects of this period is the implementation of tariffs, which have had tangible effects on both domestic and international markets. According to US customs data, these tariffs are not entirely borne by foreign exporters. Instead, they are partially absorbed by US importers and predominantly by American consumers, who effectively face an increase in their tax burden. This has led to a stagnation in real personal consumption growth, even as asset inflation continues to create a positive wealth effect. Overall, the evidence suggests that these tariffs have contributed to stagflationary pressures within the US economy while simultaneously exerting deflationary effects on the rest of the world. The US administration...

Public-Private Partnerships Drive Digital Economy Growth: ICCI

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Urgent Call for Digital Transformation in Pakistan's E-Commerce Sector The leadership of the Islamabad Chamber of Commerce and Industry (ICCI) has highlighted the pressing need to accelerate digital transformation as a key strategy to bolster the e-commerce sector and enhance the country's position in the global market. This call comes from prominent figures within the chamber, including President Nasir Mansoor Qureshi, Senior Vice President Abdul Rehman Siddiqui, and Vice President Nasir Mehmood Chaudhry. They pointed out that digital commerce is now a major catalyst for economic growth on a global scale. However, Pakistan's participation in the worldwide e-commerce economy remains significantly underdeveloped compared to its potential. The ICCI leaders believe that this gap can be bridged through targeted efforts and strategic interventions. To address this, they have urged the government to implement policies that support the development of digital infrastructure. Thi...

University Bridging China and West Faces Geopolitical Challenge

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The Role of International Students in Bridging Geopolitical Divides Geopolitical tensions are increasingly influencing academic freedom and scientific research, but some university leaders believe that increasing the presence of foreign students and visitors could help foster greater understanding of China. Xi Youmin, president of Xian Jiaotong-Liverpool University (XJTLU) in Suzhou, Jiangsu province, argues that easing visa restrictions for international students and visitors could be a step toward improving global perceptions of China. Xi highlighted that the world is currently facing a period of division driven by conflicts, geopolitical rivalries, and trade wars, particularly between the United States and other nations. This uncertainty has left many people feeling confused and uncertain about the future. He noted that the closure of joint venture universities in China and investigations into scientists of Chinese descent in the U.S. have been significant shocks to the global sci...