The trade dispute between the United States and China has led supply chains to move out of China and into alternative destinations such as Vietnam. The great decoupling gained substantial momentum during the Covid-19 crisis as it exposes countries to the danger of over-reliance on China, especially for the production of their medical supplies. The Trump administration is turbocharging the decoupling ...

Scholars studying the North Korean economy say that North Korea (NK) faces three difficulties by the end of 2020: sanctions against NK, Covid19, and flood damage. Sanctions against NK prohibit all economic cooperation with foreign, including trade and foreign investment. In order to prevent the spread of Covid19, North Korea has closed its borders and stopped all economic cooperation along bordering ...

While the impact of the COVID-19 pandemic is yet to subside, governments in major countries have put in place the largest-ever economic stimulus packages to overcome the pandemic. As of August, the U.S. is preparing an estimated US$2.3 trillion stimulus package that will amount to 13.2% of its GDP. EU leaders agreed to create €750 billion economic recovery funds (4.3% of GDP). China and Korea have ...

The United Nations adopted the 2030 Agenda for Sustainable Development in 2015 and presented 17 goals and 169 detailed targets to eradicate poverty and achieve sustainable development by 2030. Accordingly, as a member of the United Nations, North Korea also established a new strategic framework for cooperation with the United Nations in 2016 to implement the Sustainable Development Goals (SDGs). ...

The Chinese economy is showing signs of recovery from the shock of COVID-19 as it shifts to positive growth in the first three quarters of this year. Experts in China say that if domestic demand factors such as investment and consumption, as well as production, start to recover, the Chinese economy may approach pre-Covid-19 levels. Some even predict that if the growth continues, China will become ...

Since normalization of diplomatic relations in 1965, Korea-Japan economic relations can be summed up as a trade imbalance, that is, Korea's continuing trade deficit with Japan. While Korea-Japan trade volume expanded to about $200 million in 1965, $20 billion in 1987, $50 billion in 2000, and $100 billion in 2011, Korea's trade deficit with Japan started at about $100 million in 1965, and expanded ...

Currently, the trend of digitalization is accelerating around the world. The Russian government, like other major countries, considers the digital economy policy as a key national task. In this context the Russian government is preparing concrete implementation programs. For example, ‘the National Technology Initiative’ (NTI) was adopted in April 2016 and ‘Technet Roadmap 2035’ set up in February ...

Following the 2020 United States presidential election, economists have high hopes for the president-elect, Mr. Joseph Biden, and for the next US administration. The hopes are especially for the potential changes in the global trade architecture. Over the past four years the Trump administration dismayed and created confusion in the world economic order and multilateral trading system (MTS).

Although the novel coronavirus (COVID-19) originated in China, now it is affecting over 200 countries and territories all over the world. The COVID-19 pandemic reaffirmed that we are living in a highly integrated globalized world. Since both are global risks related to China, we can think about COVID-19 in connection with the U.S.-China trade dispute. The U.S.- China trade war, which had been ...

The informal economy refers to all kinds of economic activities conducted unofficially in the market, and thereby unseen from official authorities. There are many synonyms for the “informal economy,” such as the shadow economy, black economy, hidden economy, or grey economy, each definition being marginally different from the others depending on what it precisely deals with among the total spectrum ...