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The G20 must prioritize sustainable debt management and funding for climate change adaptation projects to prevent a decade of lost development for the developing world.
The Ministry of Labor has decided to increase the minimum wage in Taiwan from $26,400 to $27,470 for the future year. However, critics argue that this may not be enough to ensure a basic living standard nor foster economic growth.
The contention of Lin Por-fong, chairperson of the Third Wednesday Club, to tie minimum wage growth to GDP growth is criticized. It is argued that Taiwan’s economy can only expand if the minimum wage is raised at a faster pace.
Taiwan’s stagnant wages have led to economic growth stagnation, putting it at risk of having the lowest minimum wage among advanced countries.
If Malaysia wants to become one of the 30 largest economies globally, one way it can do so is to implement a seven-year plan to raise its minimum wage.
Long years of economic inequality under Thailand’s military government has fueled the people’s backfiring support for the opposition parties, making them win a landslide victory in the national election this year.
On Monday, U.S. Secretary of State Antony Blinken visited Beijing, where he met with Chinese Foreign Minister Qin Gang and then President Xi Jinping. Both sides characterized the discussions as productive, but on issues of significant economic concern to Beijing, no progress was announced.
Restoring China’s productive capacity in the coming weeks would require an unlikely revival of U.S. demand.
In 'How China Escaped the Poverty Trap,' Yuen Yuen Ang turns conventional thinking on its head, exploding myths as to how developing nations can catapult themselves out of poverty.