Latest news with #OrganisationforEconomicCooperationandDevelopment
Korea Herald
15-06-2025
- Science
- Korea Herald
Curious minds, better grades: Study finds curiosity linked to academic success among teens
While many factors a correlated with a student's grade, curiosity — not grit or self-control — emerged as the factor with the biggest link to academic success among 15-year-old students in South Korea, according to a new analysis of the Programme for International Student Assessment (PISA) data. The Korea Education Development Institute revealed the findings in its spring 2025 issue, drawing from the 2022 PISA assessment, which surveyed approximately 5,600 Korean students. PISA, run every three years by the Organisation for Economic Cooperation and Development, evaluates how well 15-year-old students worldwide have acquired the knowledge and skills needed to participate in society. Alongside cognitive subjects like science, mathematics, reading and creative thinking, the 2022 edition also assessed social-emotional competencies such as curiosity, perseverance, emotional control and stress resistance. Korean students in the higher achievement groups scored significantly higher in curiosity than those in lower groups across all subjects. Perseverance also showed consistent correlation, with high scorers outperforming their peers in every subject. Emotional control revealed was not linked to test scores, except in science and math. Interestingly, in stress resistance, lower-achieving students often scored higher than their higher-performing peers in subjects excluding science and math. When comparing Korean students' social-emotional competencies to the OECD average, emotional control stood out as Korea's strongest suit. Korean students scored 0.18 on average in controlling their feelings, outperforming the OECD average of –0.01 by 0.19 points. Korean students also slightly exceeded the OECD average in curiosity and stress resistance, though they fell slightly behind in perseverance. "Students with high social-emotional skills are better equipped to manage stress, maintain healthy interpersonal relationships, and navigate collaborative environments," Lee Ju-yeon, the KEDI researcher, said. "These competencies are essential not only for academic achievement but also for a successful and fulfilling life." The results added the importance of integrating social-emotional learning into educational policy and classroom practices while pointing out how students' ability to self-direct learning is crucial in digital education, as emotional regulation is directly connected to confidence in learning.
Business Recorder
14-06-2025
- Business
- Business Recorder
Reviving growth in an age of uncertainty
EDITORIAL: Since the onset of the second Trump presidency, the global economy has been contending with the far-reaching consequences of the White House's impulsive and poorly calibrated trade policies, epitomised by the abrupt imposition of steep tariffs on major trading partners in a misguided effort to shrink the US trade deficit. The immediate aftermath saw stock markets falter, businesses brace for instability, and currency and bond markets reel from heightened volatility. Yet beyond the initial shock, one could argue that the deeper and more enduring damage stemmed from the erosion of policy predictability and a collapse in confidence in coherent governance. This climate of uncertainty has become a tangible drag on global economic growth, as underscored by last week's Organisation for Economic Cooperation and Development's (OECD) Economic Outlook report, which revised its projections downward — from 3.3 percent global growth in 2023 to an anticipated 2.9 percent through 2025 and 2026. These figures represent a notable downgrade from the organisation's March forecast — 3.1 percent for this year and three percent for next year — reflecting deteriorating confidence in the international economic landscape. The OECD has warned that this trajectory could darken further should protectionist tendencies intensify, risking higher inflation, fractured supply chains and financial market instability. We have already witnessed this dynamic in action. When the US first imposed its tariffs, several affected nations responded in kind, unleashing a damaging cycle of economic tit-for-tat. So what began as an aggressive unilateral strategy soon spiralled into a broader crisis of uncertainty, deterring investment, paralysing supply networks and casting a shadow over global markets that still hasn't abated. Beyond the turbulence caused by erratic trade policies, the OECD has sounded another urgent alarm regarding the growing strain on public finances worldwide. With government debt already at precarious levels, nations now face rising demands on other fronts: military expenditures, green energy investments and the mounting costs of aging populations, particularly in developed countries. Additionally, rising interest rates have sent debt servicing costs soaring, squeezing budgets already stretched thin. The strain is most acute for developing economies, many of which face looming debt refinancing needs amid tightening global financial conditions. Meanwhile, inflated equity valuations in major markets have left financial systems vulnerable to sudden shocks. Together, these fiscal headwinds threaten to further dampen an already faltering global recovery, transforming what might have been temporary challenges into entrenched structural weaknesses. In its report, the OECD has provided a policy roadmap for restoring economic stability, which emphasises four critical interventions. Firstly, it has advocated for a return to cooperative trade relations, with a concerted effort to reduce tariffs and ease tensions. Avoiding further trade fragmentation is paramount as this would provide the surest foundation for recovery. Secondly, central banks should remain vigilant against inflation while preparing to ease policy rates once conditions permit, provided trade tensions don't escalate and inflation expectations remain stable. Thirdly, on the fiscal front, governments must ensure that public debt remains on a sustainable path. They must demonstrate the political courage to implement credible medium-term plans, streamlining inefficient expenditures, improving tax systems and targeting support where it matters most. Without such reforms, many nations risk being unprepared when the next crisis strikes. Finally, the OECD has called for boosting investment levels as that will be instrumental to reviving economies and improving public finances. Chronic underinvestment has proved to be a structural drag on growth, so coordinated efforts to remove barriers to both private capital formation and public infrastructure development have become essential. Ultimately, what's needed is collaborative global action on trade, disciplined fiscal stewardship and a return to pragmatic, data-driven policymaking. Ideological rigidity and protectionist impulses will only exacerbate current challenges and delay meaningful recovery. Copyright Business Recorder, 2025
Mint
11-06-2025
- Business
- Mint
Trump's crackdown on migrants: Will the American dream turn sour for Indians?
It is not a good time to be a migrant in the US. Crackdowns on migrants, including on those with legal rights to stay, have increased dramatically in recent months since Donald Trump took over as US president. Los Angeles is currently seeing a wave of violence after migrants resisted arrest by immigration authorities. This resistance is, in turn, fuelling further violent crackdowns on civilian populations in the city. Any long-term changes in US policies on migrants will have implications for Indians who have moved there—including green card holders having permanent resident status and those who have gone to the US for study, work, or to be with family. Indian-origin population in the US was estimated at about 3.4 million in 2023, according to the Organisation for Economic Cooperation and Development (OECD). The Indian diaspora is the second-largest foreign population in the US, after the Mexican diaspora. Over the previous three decades, Indians have increased their share in each of the visa types issued by the US to non-immigrants for four main purposes: tourism, studies, work, and to visit dependents. In 2022-23, Indians accounted for 86% of the US's H-4 visas (intended for dependents of foreign workers), 78% of H1-B visas (work visas), and 29% of student visas. In addition, and perhaps more importantly, Indians accounted for about 14% of US green cards issued in 2022, up sharply from about 8% a decade earlier. Post-covid surge The broader context is that overall migration to the US, including by those on non-permanent visas (like student visas, but excluding tourists), has risen sharply in the post-covid period. While estimates by different arms of the US government vary sharply, the rise is unmistakable. The Congressional Budget Office, whose estimate of 3.3 million net migration to the US in 2024 is among the highest, predicts that net migration will fall to 2.6 million in 2025 and 1.6 million in 2026. The post-covid surge was partly a recovery from the sharp slump caused by the pandemic, when strong international travel restrictions were in place. It is also a result of economic weakness in source countries in the post-covid period and a strong demand for workers in the US itself. According to a study by the Hamilton Project in the US, the surge in immigration added 0.1 percentage points to the US GDP in each of the years from 2022 to 2024. Indians abroad Post-covid, inward migration soared not just in the US but in high-income countries collectively. As per the OECD, its 38 member countries saw 'unprecedented levels" of around 6 million new migrants in 2022, excluding those from war-hit Ukraine. In 2023, per OECD's estimate, about 150 million people living in its member countries were foreign-born, whith about a third of them living in the US. About 6.5 million Indians live in OECD countries, over half of them in the US. Indians now make up about 10% of the foreign-born population in countries such as Canada, Australia, and the UK. Some of these countries are imposing restrictions on migration, although several of them have ageing populations and depend on migrants to fill gaps in their labour force. Remittance economy As part of his clampdown on foreign migrants, Trump has proposed a 3.5% tax on foreign remittances by non-citizens in the US. This comes at a time when the US, and rich Western countries in general, have become more critical to India's remittance economy. In 2023-24, India received remittances of $118.7 billion. Less than a decade ago, West Asian countries such as the UAE were the principal source. Now, it's the US, with its share rising from 22.9% in 2016-17 to 27.7% in 2023-24, as per the Reserve Bank of India. It's debatable what effect any tax on such remittances may have. A large proportion of remitters could use non-official channels to avoid the tax. According to RBI, 78% of Indian migrants to the US are employed in high-income sectors such as management, business, and science. In contrast, workers in the Gulf have tended to be manual labourers employed in construction or real estate. These may be uncertain times for all. is a database and search engine for public data
Eyewitness News
06-06-2025
- Business
- Eyewitness News
Trump says 'extremely hard' to do deal with Xi as steel tariffs double
WASHINGTON - US President Donald Trump said Wednesday it was "extremely hard" to reach a deal with Chinese counterpart Xi Jinping, as he ramped up his global trade war by doubling tariffs on steel and aluminium imports. The comments and higher levies came as OECD ministers gathered to discuss the outlook for the world economy in light of the US hardball approach to trade that has rattled world markets. Trump's sweeping tariffs on allies and adversaries have strained ties with trading partners and sparked a flurry of negotiations to avoid the duties. The White House has suggested the president will speak to Xi this week, raising hopes they can soothe tensions and speed up a trade deal between the world's two biggest economies. However, in the early hours of Wednesday, Trump appeared to dampen hopes for a quick deal. "I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!" he posted on his Truth Social platform. China was the main target of Trump's 2 April tariff blitz, hit with levies of 145% on its goods and triggering tit-for-tat tariffs of 125% on US goods. Both sides agreed to temporarily de-escalate in May, after the US president delayed most sweeping measures on other countries until 9 July. His latest remarks came hours after his tolls on aluminium and steel were doubled from 25% to 50%, raising temperatures with various partners. The Paris-based Organisation for Economic Cooperation and Development (OECD), a 38-nation grouping of mostly developed countries, cut its global growth forecast on the back of Trump's levies, as ministers of the group held a meeting on Tuesday and Wednesday. Trade, consumption and investment have been affected by the tariffs, OECD chief economist Alvaro Pereira earlier told AFP and warned that the US economy will suffer the most. APPEALS PROCESS While some of Trump's most sweeping levies face legal challenges, they have been allowed to remain in place for now as an appeals process takes place. US Trade Representative Jamieson Greer and EU trade commissioner Maros Sefcovic are set to hold talks on the sidelines of the gathering, with the bloc seeking to stave off higher levies ahead of the July 9 deadline. With the latest US tolls on steel and aluminium kicking in, the European Union said it "strongly regrets" the decision to double the levies, cautioning that it "undermines ongoing efforts to reach a negotiated solution" with the United States and warning it was ready to retaliate. French trade minister Laurent Saint-Martin added: "We have to keep our cool and always show that the introduction of these tariffs is in no one's interest." Canada, the largest supplier of the metals to the United States, has called Trump's tariffs "illegal and unjustified". After talks between UK Trade Secretary Jonathan Reynolds and Greer on Tuesday, London said imports from the UK would remain at 25% for now. Both sides needed to work out duties and quotas in line with the terms of a recently signed trade pact. "We're pleased that as a result of our agreement with the US, UK steel will not be subject to these additional tariffs," a British government spokesperson said. The Group of Seven advanced economies - Britain, Canada, France, Germany, Italy, Japan and the United States - is due to hold separate talks on trade Wednesday. "We need to come up with negotiated solutions as quickly as possible, because time is running out," German economy minister Katherina Reiche said Tuesday, on the sidelines of the OECD. Mexico will request an exemption from the higher tariff, Economy Minister Marcelo Ebrard said, arguing that it was unfair because the United States exports more steel to its southern neighbour than it imports. "It makes no sense to put a tariff on a product in which you have a surplus," Ebrard said. Mexico is highly vulnerable to Trump's trade wars because 80% of its exports go to the United States, its main partner. White House press secretary Karoline Leavitt confirmed Tuesday that the Trump administration sent letters to governments pushing for offers by Wednesday as the 9 July deadline approached.
IOL News
06-06-2025
- Business
- IOL News
How aligning transport and housing policies can boost South Africa's job market
Experts say cities like Durban can leverage work opportunities by tackling urban planning, cutting red tape and aligning housing and transport policies. Image: eThekwini Municipality To unlock job creation, South Africa needs reform to ease barriers to business, align its transport and housing policies, as well as tackle urban planning. This includes prioritising housing near public transport, promoting rental housing near city centres and reforming restrictive building regulations. This is according to the latest Organisation for Economic Cooperation and Development (OECD) report which says that South Africa has extraordinary growth potential, however, low public investment and high costs of doing business have been holding back growth. Major structural reforms are needed to boost productivity and advance the country towards meeting its goals of durably reducing poverty and unemployment, the report said. The latest OECD Economic Survey of South Africa projects that real GDP will grow by 1.3% this year and 1.4% in 2026. It said unemployment would remain elevated, at close to 32% in 2026. Inflation is projected to decline to 3.2% this year before increasing to 4.2% next year as economic activity gains momentum. Structural reform 'Prudent macroeconomic policies and structural reforms are central to durably boost productivity and employment,' Luiz de Mello, the OECD Director of Country Studies said, presenting the survey in Pretoria alongside Ashor Sarupen, South Africa's Deputy Minister of Finance. 'Public spending should be controlled through strengthened fiscal rules and refocused, notably to allow for higher public investment while protecting social spending,' he said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading For many South Africans, the housing scenario can be described as a 40 sqm house, some 40 km from the place of work and households spending 40% of their income on transport, according to Associate Professor Francois Viruly, of the Department of Construction Economics and Management at the University of Cape Town (UCT). Affordable housing He said recently that while historic factors such as the apartheid city planning continue to influence spatial inequalities, there is much more that could be done to redress the situation. For this to change, the professor said the country needed to densify areas of Cape Town that are well located and have the appropriate infrastructure capacity. It also means shifting from "green field '' to ''brownfield'' developments and changing the use of existing buildings, which have become obsolete, he added. Unless the economy manages to recoup the loss of 245,000 jobs that occurred in the first quarter of this year, it would be tantamount to self-inflicted economic sabotage if the Monetary Policy Committee (MPC) does not continue with its rate-cutting cycle, which is progressing at a snail's pace, said Dr Roelof Botha, an economist and advisor to the Optimum Financial Services Group. The current climate of uncertainty is being felt universally, with geopolitical tensions contributing to economic volatility, not just here in South Africa, but across the globe, said Adrian Goslett, Regional Director and CEO of Remax Southern Africa. 'While challenges exist, we have always seen that the South African property market shows remarkable resilience when approached with the right strategy,' Goslett said. Global tensions The real estate company said in today's unpredictable economic landscape, property investment remains one of the most reliable methods for building and preserving wealth. It added that whether it's VAT hike reversals, interest rate changes, or global political tensions, savvy investors know how to navigate volatility to their advantage. The secret lies in adopting the right strategies tailored to suit uncertain times, it said. Local buyers in South Africa are facing material shortages, steep price increases, and longer lead times for essentials such as steel, aluminium, solar panels and electrical components, due to the mooted US tariffs, said Nolubabalo Tsolo, the Executive Director of the Association of South African Quantity Surveyors (ASAQS) earlier this week. She explained that contractors were struggling to manage the rising costs and this leads to risks to premiums to tenders. According to the professionals' body, this meant that projects - from roads and bridges to schools and affordable housing - risked exceeding their budgets. In addition, currency fluctuations are making dollar-priced imports even more expensive. All this puts strain on both public and private projects, with affordability and delivery timelines being reassessed, she said.
