-
Why is China’s domestic consumption so abysmal?
One of the trademarks of China's economy is its weak domestic consumption. This problem has been exacerbated by high unemployment. After three years of COVID-related lockdowns, ordinary people don't have money to spend, and affluent Chinese spend less. The slow recovery of holiday spending further confirms this trend. So what has caused China's abysmal domestic consumption? How does it compare to the consumption in the United States?
******************
We discuss world economy, history, and politics. Our main focus is U.S.-China relations. We make short videos and tell you the hidden stories.
******************
References:
https://finance.sina.cn/zl/2023-01-11/zl-imxzuxpn2228990.d.html
https://zhuanlan.zhihu.com/p/606749973
https://www.epochtimes.com/b5/23/6/26/n14023104.htm
***********...
published: 21 Jul 2023
-
How has China's domestic consumption helped lead to overall economic recovery?
For more:
https://www.cgtn.com/video
Figures from China's five-day Labor Day holiday show a strong recovery in the tourism sector and consumer markets, helping to inject fresh growth into the revival of the nation's economy after the COVID-19 pandemic. China's Ministry of Culture and Tourism said 274 million trips were made nationwide during the holiday, a year on year increase of nearly 71%, surpassing the 2019 Labor Day holiday. What does the strong growth in tourism mean to overall economic expansion? And what are the challenges ahead for China's economy?
Guests in this episode are Rick Dunham, visiting scholar at Tsinghua University; Qu Qiang, assistant director of the International Monetary Institute at Renmin University of China; Hong Hao, chief economist of GROW Investment Group;...
published: 07 May 2023
-
China's massive domestic consumption returns
China is among the first countries to show success in containing COVID-19. The recovery in China’s economy is on track, and the country's domestic spending cannot be ignored. Year-to-date, China equities are among the best performing globally.
To learn more, read our views here: https://go.dbs.com/2GVOEwA
published: 12 Nov 2020
-
Investment and consumption | GDP: Measuring national income | Macroeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/21/v/investment-and-consumption
Difference between every day and economic notions of investment and consumption
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/income-and-expenditure-views-of-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/circular-econ-gdp-tutorial/v/more-on-final-and-intermediate-gdp-contributions?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Macroeconomi...
published: 04 Feb 2012
-
KCCI report suggests ways to boost domestic consumption
Although consumer sentiment saw a slight improvement... domestic consumption still remains sluggish following April's ferry tragedy in this country.
And, on this Wednesday... Korea Chamber of Commerce and Industry released a report full of suggestions for breathing new life into the economy.
Kim Ji-yeon reports.
The Korea Chamber of Commerce and Industry,... in a recent report,... has some suggestions for improving the climate in Korea for foreign investment.
The amount of domestic investment in Korea compared to its foreign investment has risen steadily over the past ten years.
The institution attributed this to a reduction in the number of domestic jobs and consumption.
The institution suggested deregulation as a starting point to boost both,... particularly in the field of medicine w...
published: 25 Jun 2014
-
Will temporary holiday boost domestic consumption?
임시공휴일 지정에 따른 국내관광 경제적 효과
Shifting gears.
In an attempt to boost domestic consumption, the government has designated today as a temporary holiday.
Our Ahn Sung-jin looks at the backstory of how this will lead to increased economic activity nationwide.
"As you can see, Seoul Station, a major hub for travelers in the country, is bustling with people enjoying their extra day off as the 6-day holiday heads towards the end."
The government designating October 2nd as a temporary holiday,
provided people with six days off from September 28th to October 3rd, starting from the Chuseok holiday and lasting until National Foundation Day.
The government made the decision with expectations that this so-called "golden vacation" would generate economic activity, boosting the country's tourism and...
published: 02 Oct 2023
-
KraneShares CIO believes domestic consumption is where Chinese policy is headed
Brendan Ahern, KraneShares chief investment officer, joins 'Squawk on the Street' to discuss the PCOB decision on global investors in Hong Kong, removing the delisting risk to bring China institutional investors back to U.S. listings and the significant policy pivot around China's zero-Covid policy. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC...
published: 16 Dec 2022
-
China: Aiming to Boost Domestic Consumption | In Five Minute
Join us as we delve into China's Economic Transformation strategic approach to rebalancing its exports in the 21st century. Discover the key factors driving this shift, including evolving global trade dynamics and China's own economic goals. Gain valuable insights into the sectors experiencing growth, emerging markets, and China's focus on innovation and technology. Stay informed about China's export rebalancing strategies to better understand the changing landscape of global trade. Watch now to stay ahead of the curve.
Social Media Links:
Facebook: https://www.facebook.com/In5mins
Twitter: https://twitter.com/In5ivemin
TikTok: https://www.tiktok.com/@in5mins
------------------------------------------------------------------------------
0:00 How China is Re-balancing its Exports in the 2...
published: 17 May 2023
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World's Top 10 Economies : Updated December 2023
The strength of a nation's economy is frequently gauged by its Gross Domestic Product (GDP), a measure encompassing the total market value of goods and services produced within its borders during a specific year. Despite the potential influence of currency exchange rate fluctuations on these standings, GDP rankings persist as vital indicators of a country's economic robustness. The top ten largest economies globally not only contribute significantly to the overall global GDP but also exert substantial influence over international trade and economic policies.
Now, let's explore the current rankings of the world's top 10 economies.
The United States stands as the world's largest economy, commanding a GDP of $26,954 billion and a GDP growth rate of 1.6%. Holding its prominent position as th...
published: 28 Dec 2023
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Focus on China Domestic Consumption Names: Aberdeen Standard
May.10 -- Pruksa Iamthongthong, Asian equities senior investment director at Aberdeen Standard Investments, discusses the reflation trade in the U.S., inflation in China and where she’s finding opportunity. She speaks on “Bloomberg Daybreak: Asia.”
published: 11 May 2021
11:52
Why is China’s domestic consumption so abysmal?
One of the trademarks of China's economy is its weak domestic consumption. This problem has been exacerbated by high unemployment. After three years of COVID-re...
One of the trademarks of China's economy is its weak domestic consumption. This problem has been exacerbated by high unemployment. After three years of COVID-related lockdowns, ordinary people don't have money to spend, and affluent Chinese spend less. The slow recovery of holiday spending further confirms this trend. So what has caused China's abysmal domestic consumption? How does it compare to the consumption in the United States?
******************
We discuss world economy, history, and politics. Our main focus is U.S.-China relations. We make short videos and tell you the hidden stories.
******************
References:
https://finance.sina.cn/zl/2023-01-11/zl-imxzuxpn2228990.d.html
https://zhuanlan.zhihu.com/p/606749973
https://www.epochtimes.com/b5/23/6/26/n14023104.htm
******************
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******************
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Follow us on our Website: https://leisrealtalk.com/
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******************
MORE VIDEOS:
The tangled web of the CCP's wars, Part I - the Korean war
https://youtu.be/5lbKtmzK24w
How the Sino-Vietnamese war helped China kick-start China-US relations and economic reforms
https://youtu.be/4RbpxcJ2mwE
A China expert explains when economic crisis will bring down the Chinese regime
https://youtu.be/LCAevZOqSWg
What made Xi Jinping break a PLA tradition - COVID or a Chinese military strategy?
https://youtu.be/NfLwZrOm3Gc
The West's costly China misconceptions (1): When in China, do as the Chinese do
https://youtu.be/nbEUxezFmc8
The West’s costly China misconceptions (2): Don’t criticize China, Chinese people or the CCP
https://youtu.be/PnNgGo1VJw8
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********************
#leisrealtalk #economy #consumption #money #consumer
https://wn.com/Why_Is_China’S_Domestic_Consumption_So_Abysmal
One of the trademarks of China's economy is its weak domestic consumption. This problem has been exacerbated by high unemployment. After three years of COVID-related lockdowns, ordinary people don't have money to spend, and affluent Chinese spend less. The slow recovery of holiday spending further confirms this trend. So what has caused China's abysmal domestic consumption? How does it compare to the consumption in the United States?
******************
We discuss world economy, history, and politics. Our main focus is U.S.-China relations. We make short videos and tell you the hidden stories.
******************
References:
https://finance.sina.cn/zl/2023-01-11/zl-imxzuxpn2228990.d.html
https://zhuanlan.zhihu.com/p/606749973
https://www.epochtimes.com/b5/23/6/26/n14023104.htm
******************
🔔 Subscribe for updates: https://www.youtube.com/c/LeisRealTalk
******************
🔵 Make sure to share this video with your friends!
Follow us on our Website: https://leisrealtalk.com/
Follow us on Twitter: https://twitter.com/LeisRealTalk
Follow us on Facebook: https://www.facebook.com/leisrealtalk
******************
MORE VIDEOS:
The tangled web of the CCP's wars, Part I - the Korean war
https://youtu.be/5lbKtmzK24w
How the Sino-Vietnamese war helped China kick-start China-US relations and economic reforms
https://youtu.be/4RbpxcJ2mwE
A China expert explains when economic crisis will bring down the Chinese regime
https://youtu.be/LCAevZOqSWg
What made Xi Jinping break a PLA tradition - COVID or a Chinese military strategy?
https://youtu.be/NfLwZrOm3Gc
The West's costly China misconceptions (1): When in China, do as the Chinese do
https://youtu.be/nbEUxezFmc8
The West’s costly China misconceptions (2): Don’t criticize China, Chinese people or the CCP
https://youtu.be/PnNgGo1VJw8
******************
OUR PLAYLISTS:
China vs USA
https://youtube.com/playlist?list=PL98Y1OoA0uGtDvlyEQ231z5PJLs7snLuO
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https://youtube.com/playlist?list=PL98Y1OoA0uGtg8RRtgyOb-mmN9HNLz501
Sports, Entertainment & Politics
https://youtube.com/playlist?list=PL98Y1OoA0uGt_zAVI54lLhhL856BmfNZB
The Chinese Economy
https://youtube.com/playlist?list=PL98Y1OoA0uGuTBnYVwm9E6ox9JfuKq7La
Chinese politics, military & Taiwan Strait
https://youtube.com/playlist?list=PL98Y1OoA0uGvu8EipiunU_uNcys0Hd6lb
CCP politics & factional wars
https://youtube.com/playlist?list=PL98Y1OoA0uGvu8EipiunU_uNcys0Hd6lb
The CCP history, communism & West's misconception
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American politics, society and people
https://youtube.com/playlist?list=PL98Y1OoA0uGucIaJJbZu5iZY6Myk1frea
International relations & Geopolitics
https://youtube.com/playlist?list=PL98Y1OoA0uGvB4t7rwpt1KG6ey-Bpx9pL
China, Chinese society & People
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https://youtube.com/playlist?list=PL98Y1OoA0uGtWv2FxpVCZzlXu6EJ47GeS
Chinese Population and labor Market
https://youtube.com/playlist?list=PL98Y1OoA0uGviHfTIliMHeR3WTTgZn5Wt
Lei's Favorites
https://youtube.com/playlist?list=PL98Y1OoA0uGtu0QnHKwoT-iXD-wWxIfal
********************
#leisrealtalk #economy #consumption #money #consumer
- published: 21 Jul 2023
- views: 38317
29:18
How has China's domestic consumption helped lead to overall economic recovery?
For more:
https://www.cgtn.com/video
Figures from China's five-day Labor Day holiday show a strong recovery in the tourism sector and consumer markets, helpin...
For more:
https://www.cgtn.com/video
Figures from China's five-day Labor Day holiday show a strong recovery in the tourism sector and consumer markets, helping to inject fresh growth into the revival of the nation's economy after the COVID-19 pandemic. China's Ministry of Culture and Tourism said 274 million trips were made nationwide during the holiday, a year on year increase of nearly 71%, surpassing the 2019 Labor Day holiday. What does the strong growth in tourism mean to overall economic expansion? And what are the challenges ahead for China's economy?
Guests in this episode are Rick Dunham, visiting scholar at Tsinghua University; Qu Qiang, assistant director of the International Monetary Institute at Renmin University of China; Hong Hao, chief economist of GROW Investment Group; and Michele Geraci, former under-secretary of state at the Ministry of Economic Development of Italy and professor of Finance at Nottingham University Ningbo.
Subscribe to us on YouTube: https://goo.gl/lP12gA
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https://wn.com/How_Has_China's_Domestic_Consumption_Helped_Lead_To_Overall_Economic_Recovery
For more:
https://www.cgtn.com/video
Figures from China's five-day Labor Day holiday show a strong recovery in the tourism sector and consumer markets, helping to inject fresh growth into the revival of the nation's economy after the COVID-19 pandemic. China's Ministry of Culture and Tourism said 274 million trips were made nationwide during the holiday, a year on year increase of nearly 71%, surpassing the 2019 Labor Day holiday. What does the strong growth in tourism mean to overall economic expansion? And what are the challenges ahead for China's economy?
Guests in this episode are Rick Dunham, visiting scholar at Tsinghua University; Qu Qiang, assistant director of the International Monetary Institute at Renmin University of China; Hong Hao, chief economist of GROW Investment Group; and Michele Geraci, former under-secretary of state at the Ministry of Economic Development of Italy and professor of Finance at Nottingham University Ningbo.
Subscribe to us on YouTube: https://goo.gl/lP12gA
Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8
Download our APP on Google Play (Android): https://play.google.com/store/apps/details?id=com.imib.cctv
- published: 07 May 2023
- views: 2400
1:37
China's massive domestic consumption returns
China is among the first countries to show success in containing COVID-19. The recovery in China’s economy is on track, and the country's domestic spending cann...
China is among the first countries to show success in containing COVID-19. The recovery in China’s economy is on track, and the country's domestic spending cannot be ignored. Year-to-date, China equities are among the best performing globally.
To learn more, read our views here: https://go.dbs.com/2GVOEwA
https://wn.com/China's_Massive_Domestic_Consumption_Returns
China is among the first countries to show success in containing COVID-19. The recovery in China’s economy is on track, and the country's domestic spending cannot be ignored. Year-to-date, China equities are among the best performing globally.
To learn more, read our views here: https://go.dbs.com/2GVOEwA
- published: 12 Nov 2020
- views: 1425
7:32
Investment and consumption | GDP: Measuring national income | Macroeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroecono...
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/21/v/investment-and-consumption
Difference between every day and economic notions of investment and consumption
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/income-and-expenditure-views-of-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/circular-econ-gdp-tutorial/v/more-on-final-and-intermediate-gdp-contributions?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg
Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
https://wn.com/Investment_And_Consumption_|_Gdp_Measuring_National_Income_|_Macroeconomics_|_Khan_Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/21/v/investment-and-consumption
Difference between every day and economic notions of investment and consumption
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/GDP-components-tutorial/v/income-and-expenditure-views-of-gdp?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/circular-econ-gdp-tutorial/v/more-on-final-and-intermediate-gdp-contributions?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics
Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg
Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
- published: 04 Feb 2012
- views: 427435
2:03
KCCI report suggests ways to boost domestic consumption
Although consumer sentiment saw a slight improvement... domestic consumption still remains sluggish following April's ferry tragedy in this country.
And, on th...
Although consumer sentiment saw a slight improvement... domestic consumption still remains sluggish following April's ferry tragedy in this country.
And, on this Wednesday... Korea Chamber of Commerce and Industry released a report full of suggestions for breathing new life into the economy.
Kim Ji-yeon reports.
The Korea Chamber of Commerce and Industry,... in a recent report,... has some suggestions for improving the climate in Korea for foreign investment.
The amount of domestic investment in Korea compared to its foreign investment has risen steadily over the past ten years.
The institution attributed this to a reduction in the number of domestic jobs and consumption.
The institution suggested deregulation as a starting point to boost both,... particularly in the field of medicine where Korea possesses one of the highest levels of technologies in the world.
To lure in more foreign tourists,... the K-C-C-I says the establishment of for-profit medical corporations should be allowed... like in the United States, Singapore and Thailand.
The number of medical tourists visiting Korea per year is around one-tenth the amount that go to Thailand.
The K-C-C-I report also suggested delaying the adoption of stricter regulations concerning the labor environment... which include extending the retirement age, expanding maternal leave and reducing working hours,... so that businesses can more easily adapt to changes.
Providing incentives for outsourced manufacturers so they can return and invest in Korea were also suggested... along with a revival strategy that mirrors others in the U.S., Germany and Japan.
In order to boost the country's service sector, the institution says Korea should try to attract at least 10 million tourists from China annually... by simplifying the visa process, expanding high-quality accommodations and fostering service professionals in the tourism sector.
Kim Ji-yeon, Arirang News.
https://wn.com/Kcci_Report_Suggests_Ways_To_Boost_Domestic_Consumption
Although consumer sentiment saw a slight improvement... domestic consumption still remains sluggish following April's ferry tragedy in this country.
And, on this Wednesday... Korea Chamber of Commerce and Industry released a report full of suggestions for breathing new life into the economy.
Kim Ji-yeon reports.
The Korea Chamber of Commerce and Industry,... in a recent report,... has some suggestions for improving the climate in Korea for foreign investment.
The amount of domestic investment in Korea compared to its foreign investment has risen steadily over the past ten years.
The institution attributed this to a reduction in the number of domestic jobs and consumption.
The institution suggested deregulation as a starting point to boost both,... particularly in the field of medicine where Korea possesses one of the highest levels of technologies in the world.
To lure in more foreign tourists,... the K-C-C-I says the establishment of for-profit medical corporations should be allowed... like in the United States, Singapore and Thailand.
The number of medical tourists visiting Korea per year is around one-tenth the amount that go to Thailand.
The K-C-C-I report also suggested delaying the adoption of stricter regulations concerning the labor environment... which include extending the retirement age, expanding maternal leave and reducing working hours,... so that businesses can more easily adapt to changes.
Providing incentives for outsourced manufacturers so they can return and invest in Korea were also suggested... along with a revival strategy that mirrors others in the U.S., Germany and Japan.
In order to boost the country's service sector, the institution says Korea should try to attract at least 10 million tourists from China annually... by simplifying the visa process, expanding high-quality accommodations and fostering service professionals in the tourism sector.
Kim Ji-yeon, Arirang News.
- published: 25 Jun 2014
- views: 59
2:24
Will temporary holiday boost domestic consumption?
임시공휴일 지정에 따른 국내관광 경제적 효과
Shifting gears.
In an attempt to boost domestic consumption, the government has designated today as a temporary holiday.
Our Ahn Su...
임시공휴일 지정에 따른 국내관광 경제적 효과
Shifting gears.
In an attempt to boost domestic consumption, the government has designated today as a temporary holiday.
Our Ahn Sung-jin looks at the backstory of how this will lead to increased economic activity nationwide.
"As you can see, Seoul Station, a major hub for travelers in the country, is bustling with people enjoying their extra day off as the 6-day holiday heads towards the end."
The government designating October 2nd as a temporary holiday,
provided people with six days off from September 28th to October 3rd, starting from the Chuseok holiday and lasting until National Foundation Day.
The government made the decision with expectations that this so-called "golden vacation" would generate economic activity, boosting the country's tourism and domestic consumption through rising demand and increased market revenue.
"I extended my plan to stay at my parents’ house so I could travel a bit more and eat out with them."
"Without the temporary holiday, going on a trip with my family would have been difficult. The cost of train tickets and for accommodation will increase, but at least I have time off to travel."
According to a travel agency, reservations for domestic travel jumped more than 13-fold compared to bookings for the Chuseok holiday last year.
This was specifically boosted when the government announced the designation of the temporary holiday, with reservations increasing by 64% within a week of the announcement.
"Economic growth is possible not only through production but also when consumption occurs in tandem so it seems that the government believes that this temporary public holiday will promote greater consumption than on other days since it is in the middle of the holiday, leading more people to spend."
However, international flights have also peaked by nearly 900 percent compared to last year, exceeding the reservation rate of the pre-COVID holiday in 2019 by 90 percent.
Professor Jeong added that it is important to promote domestic tourism to stimulate internal consumption.
"I think we should try to create more diverse tourism content such as local events within Korea for holidays like Chuseok so we can show that it’s worth, and as-exciting, to travel domestically."
The government is hoping that the designation of this temporary holiday will boost domestic tourism and increase economic revenue.
Ahn Sung-jin, Arirang News.
#temporary_holiday #domestic_consumption #economy #economic_activity #domestic_travel #Economic_growth #SouthKorea #tourism #임시공휴일 #경제 #국내관광 #Arirang_News #아리랑뉴스
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2023-10-02, 12:00 (KST)
https://wn.com/Will_Temporary_Holiday_Boost_Domestic_Consumption
임시공휴일 지정에 따른 국내관광 경제적 효과
Shifting gears.
In an attempt to boost domestic consumption, the government has designated today as a temporary holiday.
Our Ahn Sung-jin looks at the backstory of how this will lead to increased economic activity nationwide.
"As you can see, Seoul Station, a major hub for travelers in the country, is bustling with people enjoying their extra day off as the 6-day holiday heads towards the end."
The government designating October 2nd as a temporary holiday,
provided people with six days off from September 28th to October 3rd, starting from the Chuseok holiday and lasting until National Foundation Day.
The government made the decision with expectations that this so-called "golden vacation" would generate economic activity, boosting the country's tourism and domestic consumption through rising demand and increased market revenue.
"I extended my plan to stay at my parents’ house so I could travel a bit more and eat out with them."
"Without the temporary holiday, going on a trip with my family would have been difficult. The cost of train tickets and for accommodation will increase, but at least I have time off to travel."
According to a travel agency, reservations for domestic travel jumped more than 13-fold compared to bookings for the Chuseok holiday last year.
This was specifically boosted when the government announced the designation of the temporary holiday, with reservations increasing by 64% within a week of the announcement.
"Economic growth is possible not only through production but also when consumption occurs in tandem so it seems that the government believes that this temporary public holiday will promote greater consumption than on other days since it is in the middle of the holiday, leading more people to spend."
However, international flights have also peaked by nearly 900 percent compared to last year, exceeding the reservation rate of the pre-COVID holiday in 2019 by 90 percent.
Professor Jeong added that it is important to promote domestic tourism to stimulate internal consumption.
"I think we should try to create more diverse tourism content such as local events within Korea for holidays like Chuseok so we can show that it’s worth, and as-exciting, to travel domestically."
The government is hoping that the designation of this temporary holiday will boost domestic tourism and increase economic revenue.
Ahn Sung-jin, Arirang News.
#temporary_holiday #domestic_consumption #economy #economic_activity #domestic_travel #Economic_growth #SouthKorea #tourism #임시공휴일 #경제 #국내관광 #Arirang_News #아리랑뉴스
📣 Facebook : https://www.facebook.com/arirangtvnews
📣 Twitter : https://twitter.com/arirangtvnews
📣 Homepage : https://arirang.com/
2023-10-02, 12:00 (KST)
- published: 02 Oct 2023
- views: 675
3:49
KraneShares CIO believes domestic consumption is where Chinese policy is headed
Brendan Ahern, KraneShares chief investment officer, joins 'Squawk on the Street' to discuss the PCOB decision on global investors in Hong Kong, removing the de...
Brendan Ahern, KraneShares chief investment officer, joins 'Squawk on the Street' to discuss the PCOB decision on global investors in Hong Kong, removing the delisting risk to bring China institutional investors back to U.S. listings and the significant policy pivot around China's zero-Covid policy. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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https://wn.com/Kraneshares_Cio_Believes_Domestic_Consumption_Is_Where_Chinese_Policy_Is_Headed
Brendan Ahern, KraneShares chief investment officer, joins 'Squawk on the Street' to discuss the PCOB decision on global investors in Hong Kong, removing the delisting risk to bring China institutional investors back to U.S. listings and the significant policy pivot around China's zero-Covid policy. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
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#CNBCTV
- published: 16 Dec 2022
- views: 1486
5:12
China: Aiming to Boost Domestic Consumption | In Five Minute
Join us as we delve into China's Economic Transformation strategic approach to rebalancing its exports in the 21st century. Discover the key factors driving thi...
Join us as we delve into China's Economic Transformation strategic approach to rebalancing its exports in the 21st century. Discover the key factors driving this shift, including evolving global trade dynamics and China's own economic goals. Gain valuable insights into the sectors experiencing growth, emerging markets, and China's focus on innovation and technology. Stay informed about China's export rebalancing strategies to better understand the changing landscape of global trade. Watch now to stay ahead of the curve.
Social Media Links:
Facebook: https://www.facebook.com/In5mins
Twitter: https://twitter.com/In5ivemin
TikTok: https://www.tiktok.com/@in5mins
------------------------------------------------------------------------------
0:00 How China is Re-balancing its Exports in the 21st Century
0:37 China Growth by Rebalancing Domestic Consumption and High Value Services
1:01 China's Rapid Economic Rise
1:42 China's Top Export Markets
2:41 For Sustainable Growth, Chinese Economy Needs a Rebalance
3:06 A Move Towards Increasing Domestic Consumption
3:26 China's Dominance on the World Export Stage
3:46 China's Rebalancing Efforts
4:37 China's Economic Rise, A Remarkable Story
------------------------------------------------------------------------------
#ChinaExports #ExportRebalancing #GlobalTrade #EconomicShift #21stCenturyExports #TradeDynamics #EmergingMarkets #InnovationInExports #TechnologyDrivenExports #GlobalTradeTrends
Disclaimer:
The views and opinions expressed in this video are solely those of the author(s) and do not necessarily reflect the official policy or position of In Five Minutes. Any content provided in this video is for general informational and educational purposes only and should not be considered as professional advice. Viewers are advised to do their own research and consult with a professional before making any decisions based on this information. In Five Minutes will not be held liable for any loss or damage caused by reliance on any information provided in this video.
https://wn.com/China_Aiming_To_Boost_Domestic_Consumption_|_In_Five_Minute
Join us as we delve into China's Economic Transformation strategic approach to rebalancing its exports in the 21st century. Discover the key factors driving this shift, including evolving global trade dynamics and China's own economic goals. Gain valuable insights into the sectors experiencing growth, emerging markets, and China's focus on innovation and technology. Stay informed about China's export rebalancing strategies to better understand the changing landscape of global trade. Watch now to stay ahead of the curve.
Social Media Links:
Facebook: https://www.facebook.com/In5mins
Twitter: https://twitter.com/In5ivemin
TikTok: https://www.tiktok.com/@in5mins
------------------------------------------------------------------------------
0:00 How China is Re-balancing its Exports in the 21st Century
0:37 China Growth by Rebalancing Domestic Consumption and High Value Services
1:01 China's Rapid Economic Rise
1:42 China's Top Export Markets
2:41 For Sustainable Growth, Chinese Economy Needs a Rebalance
3:06 A Move Towards Increasing Domestic Consumption
3:26 China's Dominance on the World Export Stage
3:46 China's Rebalancing Efforts
4:37 China's Economic Rise, A Remarkable Story
------------------------------------------------------------------------------
#ChinaExports #ExportRebalancing #GlobalTrade #EconomicShift #21stCenturyExports #TradeDynamics #EmergingMarkets #InnovationInExports #TechnologyDrivenExports #GlobalTradeTrends
Disclaimer:
The views and opinions expressed in this video are solely those of the author(s) and do not necessarily reflect the official policy or position of In Five Minutes. Any content provided in this video is for general informational and educational purposes only and should not be considered as professional advice. Viewers are advised to do their own research and consult with a professional before making any decisions based on this information. In Five Minutes will not be held liable for any loss or damage caused by reliance on any information provided in this video.
- published: 17 May 2023
- views: 65
3:31
World's Top 10 Economies : Updated December 2023
The strength of a nation's economy is frequently gauged by its Gross Domestic Product (GDP), a measure encompassing the total market value of goods and services...
The strength of a nation's economy is frequently gauged by its Gross Domestic Product (GDP), a measure encompassing the total market value of goods and services produced within its borders during a specific year. Despite the potential influence of currency exchange rate fluctuations on these standings, GDP rankings persist as vital indicators of a country's economic robustness. The top ten largest economies globally not only contribute significantly to the overall global GDP but also exert substantial influence over international trade and economic policies.
Now, let's explore the current rankings of the world's top 10 economies.
The United States stands as the world's largest economy, commanding a GDP of $26,954 billion and a GDP growth rate of 1.6%. Holding its prominent position as the foremost global economic powerhouse and wealthiest nation, the U.S. has maintained this leadership from 1960 to 2023. Its economic vitality is underpinned by notable diversity across key sectors, encompassing services, manufacturing, finance, and technology. With a substantial consumer market, a culture that fosters innovation and entrepreneurship, robust infrastructure, and favorable business conditions, the U.S. has consistently topped the list since the 20th century. However, projections indicate that China is poised to surpass the U.S. as the world's largest economy in the coming years.
China holds the position of the world's second-largest economy, commanding a GDP of $17,786 billion and displaying a robust GDP growth rate of 5.2%. Experiencing a remarkable ascent from the fourth rank in 1960 to the second rank in 2023, China's economic progress is underscored by a reliance on manufacturing, exports, and investment. The nation takes pride in its expansive workforce, strong governmental support, infrastructural advancements, and a rapidly expanding consumer market.
Germany secures the third position in the global economic landscape with a GDP of $4,430 billion and a slight GDP growth rate of -0.1%. Renowned for its emphasis on exports, the German economy is distinguished for precision in the engineering, automotive, chemical, and pharmaceutical sectors. Germany benefits from a proficient labor force, robust research and development initiatives, and a pronounced commitment to fostering innovation.
Japan secures the fourth position in the global economic hierarchy with a GDP of $4,231 billion and a GDP growth rate of 1.3%. Renowned for its progressive technology, manufacturing prowess, and service industry, Japan excels in prominent sectors such as automotive, electronics, machinery, and finance. The nation is distinguished by its unwavering work ethic, commitment to pioneering technological advancements, and the export of high-quality goods.
India claims the 5th position as the world's 5th largest economy, boasting a GDP of $3,730 billion and a remarkable GDP growth rate of 5.9%, the highest among the top 10 economies. India's economic landscape is characterized by diversity and rapid growth, driven by key sectors including information technology, services, agriculture, and manufacturing. Leveraging its expansive domestic market, a youthful and technologically adept labor force, and a growing middle class, India continues to be a significant player in the global economic arena.
The United Kingdom's average annual GDP growth from 1999 to 2008 was 2.8%. However, uncertainties stemming from Brexit have impacted private consumption and fixed investments, potentially slowing down growth. Nevertheless, the UK maintains a significant position among the world's top economies, boasting a GDP of $3,052 billion.
France, holding the seventh spot, boasts an estimated GDP of $3,052 billion. Over 70% of the nation's GDP is derived from the service sector, positioning France as a global leader in industries such as automotive, railway, and aerospace.
Italy, ranking as the eighth-largest economy globally with a GDP of $2,190 billion, is recognized for its influential business economic sector, competitive agricultural sector, and a highly developed market. Italy's diverse economic strengths contribute to its standing among the top global economies.
Brazil secures the 9th position as the world's 9th largest economy, presenting a GDP of $2,132 billion. The Brazilian economy exhibits diversity across sectors, including agriculture, mining, manufacturing, and services. It stands out as a prominent global hub for agricultural production and exportation. The growth of Brazil's economy is influenced by various factors, including commodity prices, domestic consumption, and advancements in infrastructure.
Canada holds the 10th position as the world's 10th largest economy, commanding a GDP of $2,122 billion. The Canadian economy heavily relies on abundant natural resources, including oil, gas, minerals, and timber.
https://wn.com/World's_Top_10_Economies_Updated_December_2023
The strength of a nation's economy is frequently gauged by its Gross Domestic Product (GDP), a measure encompassing the total market value of goods and services produced within its borders during a specific year. Despite the potential influence of currency exchange rate fluctuations on these standings, GDP rankings persist as vital indicators of a country's economic robustness. The top ten largest economies globally not only contribute significantly to the overall global GDP but also exert substantial influence over international trade and economic policies.
Now, let's explore the current rankings of the world's top 10 economies.
The United States stands as the world's largest economy, commanding a GDP of $26,954 billion and a GDP growth rate of 1.6%. Holding its prominent position as the foremost global economic powerhouse and wealthiest nation, the U.S. has maintained this leadership from 1960 to 2023. Its economic vitality is underpinned by notable diversity across key sectors, encompassing services, manufacturing, finance, and technology. With a substantial consumer market, a culture that fosters innovation and entrepreneurship, robust infrastructure, and favorable business conditions, the U.S. has consistently topped the list since the 20th century. However, projections indicate that China is poised to surpass the U.S. as the world's largest economy in the coming years.
China holds the position of the world's second-largest economy, commanding a GDP of $17,786 billion and displaying a robust GDP growth rate of 5.2%. Experiencing a remarkable ascent from the fourth rank in 1960 to the second rank in 2023, China's economic progress is underscored by a reliance on manufacturing, exports, and investment. The nation takes pride in its expansive workforce, strong governmental support, infrastructural advancements, and a rapidly expanding consumer market.
Germany secures the third position in the global economic landscape with a GDP of $4,430 billion and a slight GDP growth rate of -0.1%. Renowned for its emphasis on exports, the German economy is distinguished for precision in the engineering, automotive, chemical, and pharmaceutical sectors. Germany benefits from a proficient labor force, robust research and development initiatives, and a pronounced commitment to fostering innovation.
Japan secures the fourth position in the global economic hierarchy with a GDP of $4,231 billion and a GDP growth rate of 1.3%. Renowned for its progressive technology, manufacturing prowess, and service industry, Japan excels in prominent sectors such as automotive, electronics, machinery, and finance. The nation is distinguished by its unwavering work ethic, commitment to pioneering technological advancements, and the export of high-quality goods.
India claims the 5th position as the world's 5th largest economy, boasting a GDP of $3,730 billion and a remarkable GDP growth rate of 5.9%, the highest among the top 10 economies. India's economic landscape is characterized by diversity and rapid growth, driven by key sectors including information technology, services, agriculture, and manufacturing. Leveraging its expansive domestic market, a youthful and technologically adept labor force, and a growing middle class, India continues to be a significant player in the global economic arena.
The United Kingdom's average annual GDP growth from 1999 to 2008 was 2.8%. However, uncertainties stemming from Brexit have impacted private consumption and fixed investments, potentially slowing down growth. Nevertheless, the UK maintains a significant position among the world's top economies, boasting a GDP of $3,052 billion.
France, holding the seventh spot, boasts an estimated GDP of $3,052 billion. Over 70% of the nation's GDP is derived from the service sector, positioning France as a global leader in industries such as automotive, railway, and aerospace.
Italy, ranking as the eighth-largest economy globally with a GDP of $2,190 billion, is recognized for its influential business economic sector, competitive agricultural sector, and a highly developed market. Italy's diverse economic strengths contribute to its standing among the top global economies.
Brazil secures the 9th position as the world's 9th largest economy, presenting a GDP of $2,132 billion. The Brazilian economy exhibits diversity across sectors, including agriculture, mining, manufacturing, and services. It stands out as a prominent global hub for agricultural production and exportation. The growth of Brazil's economy is influenced by various factors, including commodity prices, domestic consumption, and advancements in infrastructure.
Canada holds the 10th position as the world's 10th largest economy, commanding a GDP of $2,122 billion. The Canadian economy heavily relies on abundant natural resources, including oil, gas, minerals, and timber.
- published: 28 Dec 2023
- views: 213
5:14
Focus on China Domestic Consumption Names: Aberdeen Standard
May.10 -- Pruksa Iamthongthong, Asian equities senior investment director at Aberdeen Standard Investments, discusses the reflation trade in the U.S., inflation...
May.10 -- Pruksa Iamthongthong, Asian equities senior investment director at Aberdeen Standard Investments, discusses the reflation trade in the U.S., inflation in China and where she’s finding opportunity. She speaks on “Bloomberg Daybreak: Asia.”
https://wn.com/Focus_On_China_Domestic_Consumption_Names_Aberdeen_Standard
May.10 -- Pruksa Iamthongthong, Asian equities senior investment director at Aberdeen Standard Investments, discusses the reflation trade in the U.S., inflation in China and where she’s finding opportunity. She speaks on “Bloomberg Daybreak: Asia.”
- published: 11 May 2021
- views: 1374