World EconomyDr. Nisit Panthamitnisitp@gmail.com

Line Up:

• Line was created in Japan in 2011 by a unit of South Korean Internet firm, NAVER• Line has also branched out into businesses that have long been

dominated by the likes of Google, Apple, eBay Inc. and Facebook—including games, e-commerce, digital marketing and Internet calling.

• What makes Line stand out is how much it has expanded outside of Japan. Japan now accounts for only 20% of Line’s users, and 80% is from overseas. Line now has 18 million users in Thailand, 17 million in Taiwan and 15 million in Spain, according to the company, even though Japan is still its largest market with 47 million users

BRICS

• The economic clout and influence of BRICS nations is staggering. Collectively, the five BRICS nations account for 42% of world population, 20% of output, and nearly all of current growth in the global economy.’• “

The Chinese economy is not only the second largest in the world but also larger than the economies of the other four members combined.”• They are pressing for a new balance of power.”

Which Western companies are taking a hit in Russia?

‘Time bomb’: Aging population may explode global economy by 2050

• The number of people over 60 years old has doubled in the past 30 years and is expected to grow at the same pace by 2050. Increasing pension payments at a time of massive layoffs could result in an unsupportable burden for the world’s economies.

• By the middle of the century more than 3 million people will be older than one hundred years, says the business daily RBC, quoting a United Nations report. Today the number of 100-year-olds is about 300,000.

• Improved quality of health care, intensive developments in medicine, expanding access to education and economic well-being make a longer lifetime possible. But while mankind may rejoice in the opportunity of long-life, the aging population brings new challenges.

Declining Population Could Reduce Global Economic Growth By 40%

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Examples of regional trade agreements

• Among the best known are • - The European Union, • - The European Free Trade Association (EFTA), • - The North American Free Trade Agreement (NAFTA), • - The Southern Common Market (MERCOSUR), • - The Association of Southeast Asian Nations (ASEAN) Free Trade Area

(AFTA), and • - The Common Market of Eastern and Southern Africa (COMESA).

Educating the World

Chinese Airlines Face Potential Currency Turbulence

http://unctad.org/en/PublicationsLibrary/webdiaeia2015d2_en.pdf

China Just Overtook The US As The World's Largest Economy

According to the IMF. By the end of 2014, China will make up 16.48% of the world's purchasing-power adjusted GDP (or $17.632 trillion), and the US will make up just 16.28% (or $17.416 trillion):

Educating the World

• Pior to the initiation of economic reforms and trade liberalization 35 years ago, China • maintained policies that kept the economy very poor, stagnant, centrally controlled, vastly • inefficient, and relatively isolated from the global economy. Since opening up to foreign trade

and • investment and implementing free market reforms in 1979, China has been among the world’s • fastest-growing economies, with real annual gr• Goss domestic product (GDP) growth averaging • nearly 10% through 2013. In recent years, China has emerged as a major global economic and • trade power. It is currently the world’s largest merchandise trading economy, second-largest • destination of foreign direct investment (FDI), largest manufacturer, largest holder of foreign • exchange reserves, and is projected to become the world’s largest economy in 2014.

China’s Economic Growth and Reforms:• Since 1979, China’saverage annual real GDP has grown by nearly 10%

(see Figure 1). This has meant that, on average, China has been able to double the size of its economy in real terms every eight years.

China to Contribute $40 Billion to Silk Road Fund

Chinese Students Major in Luxury Cars