Post recession economic recovery

South Korea recorded its worst growth in more than two decades in 2020, the central bank said Tuesday, but it is expected to be among the best-performing OECD economies in the wake of the coronavirus pandemic. The country's gross domestic product contracted 1.0 percent in 2020 from a year earlier, the Bank of Korea said, citing weak private spending and exports. It marks the worst annual growth since 1998, when the South Korean economy shrank 5.1 percent in the aftermath of the Asian financial crisis. Still, South Korea is expected to be among the countries in the OECD group of developed economies least affected by the pandemic in 2020. In the fourth quarter of 2020, the South's economy -- the world's 12th-largest -- grew 1.1 percent from the previous quarter, data showed, marking a second consecutive quarter of growth amid the pandemic. The central bank said exports expanded 5.2 percent in the fourth quarter from three months earlier, offsetting a slump in private consumption due … [Read more...] about South Korea posts worst growth in two decades

Inequality is costing lives Afro-descendants in Brazil are 40 per cent more likely to die of COVID-19 than white people while nearly 22,000 black and Hispanic people in the US would still be alive if they experienced the same COVID-19 mortality rates as their white counterparts. Infection and mortality rates are higher in poorer areas of countries such as France, India, and Spain while England's poorest regions experience mortality rates double that of the richest areas. … [Read more...] about Wealth inequaity increases after COVID-19

This year, the council plans to focus on boosting post-pandemic recovery in tandem with commerce development, promoting the Regional Comprehensive Economic Partnership (RCEP) agreement as a tool for economic recovery, and ensuring supply chains and facilitating cross-border business connectivity amid the COVID-19 pandemic. … [Read more...] about Viet Nam hands over EABC Chairmanship to RoK

 HÀ NỘI – Chairman of the Vietnam Chamber of Commerce and Industry Vũ Tiến Lộc, as Chairman of the East Asia Business Council (EABC) in 2020, recently handed over the EABC Chair to Hak-hee Jo, Executive Managing Director of the Korea International Trade Association. … [Read more...] about Việt Nam hands over EABC Chairmanship to RoK

For instance, content regulations and licensing requirements in some countries increase operational challenges for businesses, especially for growing local startups trying to operate across multiple markets. Some governments in the region have also placed restrictions on data flow, such as data localisation, which could hamper inclusive economic growth prospects, dampen foreign investment, and restrict opportunities for local businesses to grow domestically and globally. … [Read more...] about Digitalisation to power regional recuperation