Two years after the collapse of China’s real-estate bubble, worries that it may collapse again are starting to rise. China’s largest private property developer, Country Garden, is struggling to pay back their enormous loans. Dealing with strict government regulations has made it even more difficult for companies to deal with their growing debt.
globalEDGE Blog - Page 10
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Europe’s three largest economies by nominal GDP are Germany, the United Kingdom, and France. As the entire continent struggles through a period of economic turmoil that began in late 2022, how are its top three economies faring?
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The global economy has been significantly impacted by artificial intelligence, and Japan, with its long history of technological innovation, is well-positioned to significantly impact the AI landscape. Japan is building its own AI innovations like ChatGPT that are anticipated to change a range of sectors, from manufacturing to healthcare, significantly influence the country's economic future.
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Over the past two years, a remarkable economic phenomenon has unfolded on the global stage as two iconic pop sensations- Taylor Swift and Beyoncé- embarked on colossal tours that left an indelible mark on the world’s financial landscape.
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Portugal, renowned as the globe’s top cork exporter and the sixth-largest wine exporter, is home to a wine industry worth billions of euros, providing livelihoods for hundreds of thousands. Nevertheless, this thriving sector finds itself at a crossroads as it grapples with particularly daunting challenges: an oversupply of wine and the ever-looming specter of climate change.
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The Korean skincare industry has taken the beauty world by storm recently. As beauty enthusiasts become increasingly drawn to innovative products and multi-step routines, the focus on achieving flawless and radiant skin has made the Korean skincare industry, in particular, a global trendsetter.
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On September 12, the North African country of Libya was ravaged by extreme flooding. This disaster was spearheaded by Storm Daniel, one of the latest hurricanes to touch down this year. Two thousand people have died and 10,000 others are still unaccounted for at the hands of the natural disaster. During the storm, two dams in the country’s northeast side burst, sending an exorbitant amount of water to the city.
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As the rate that games are being developed at increases each day, the gaming industry shows no sign of slowing down any time soon. Although the pandemic prevented many gaming companies from developing new products, it helped the industry see a surge in many new gamers entering the market, leading up to present day.
Experts are seeing a rapid increase in the number of people playing games, with a staggering 3.38 billion people worldwide in 2023. As for the global market itself, experts predict $187.7 billion in revenue from the gaming industry this year, according to Newzoo. Large video game companies both abroad and in the United States, such as Activision Blizzard and Riot Games, are experiencing this growth first-hand.
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A Sriracha shortage has struck the aisles of supermarkets all across the world. Although this issue has only recently come into the spotlight, this fan-favorite hot sauce, in its green-capped bottle, has been hard to find for years. The sauce's parent company Huy Fong Foods does not have enough of one of its key ingredients, jalapeno chili peppers, to make its product, and supply chain issues may be to blame.
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Some of the most valuable shipping routes in the world are in the South China Sea, which is 1.4 million square miles in size. Developing conflicts in the South China Sea are having a significant impact on small businesses. Their location, industry, and reliance on the geographical region for business all influence how much of an effect they have. Around 80% of global trade is carried by sea, and estimates of the volume carried through the South China Sea range from 20% to 33%.