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Economic sector: 21st century challenges

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*****Japanese workers making throwing things #productivity. These two Swedish economists foresaw a #globalization backlash. In the 1930s. *****#Map shows countries that owe money to #USA in green (countries that the #USA has to pay back are marked red). *****Revenue split of #tech giants @Apple 63% #iPhone @Google 88% ads @Microsoft 28% #MSOffice Fore more. *****Winners and losers of globalization - aka the "Elephant Curve" ht @ianbremmer. *****Six maps that show the anatomy of America’s vast infrastructure - Washington Post. China's big push for its global trade narrative. Image copyright Youtube/Chinadaily China's President Xi Jinping intends to tell you a story.

China's big push for its global trade narrative

But first he's going to try it out on the world's political leaders. Not those of the United States, Japan, India or much of the European Union. They've declined the invitation. But this weekend Mr Xi is gathering all the presidents and prime ministers he can muster in Beijing, hoping to inspire them with a vision about China as a force for good in the world. Xi Jinping came to power five years ago with a determination that China should stop hiding its light under a bushel. Classic #retail business in #USA is in #crisis. Temporary downturn or permanent change?

Automation / Mechanisation

*****Automation: Inside the stunning @amazon warehouse: where robots and people co-create unmatched efficiency. *****In the US the middle class is smaller, but richer. *****Automation: Construction just took a huge leap forward. *****Automation: Robotic bricklayer builds houses 3x faster than humans by @SAI. *****The feeling when you realize the robots will steal your job. *****Shifting Incomes for Young People 1966-2016. Millennials’ income and baby boomers’ income.

*****Shifting Incomes for Young People 1966-2016

The story goes like so: The Millennial generation makes less now than the baby boomers did back when they were the same age as the Millennials, based on median personal income. Stephen Hawking: This will be the impact of automation and AI on jobs #technology. *****FANGs: “The Fangs sell their stuff wherever there is internet access & don’t have to worry about pesky supply chain issues” How @JustinTrudeau is preparing #Canada for automation @CanadianPM #technology.

*****Infographic: Map of global economies with GDP over one trillion US dollars. *****A parcel sorting facilities in China, powered by #AI and robots. The average millennial worker makes less than the average baby boomer did in 1975. Demonstrators gather in front of a McDonald's to call for a minimum-wage increase in Chicago on April 15, 2015.

The average millennial worker makes less than the average baby boomer did in 1975

(Scott Olson/Getty Images) The United States has enjoyed extraordinary economic progress over the past four decades, but average incomes for today's young workers are lower than they were in 1975. Over the past four decades, young American workers saw their average incomes decline by 5.5 percent after adjusting for inflation, according to new figures published Wednesday by the U.S. Census Bureau. In 1975, workers aged 25 to 34 had a median personal income of $37,000 in modern dollar terms.

Earnings have declined despite the fact that today's young people are better educated than 40 years ago. In part, experts say, the decline in average incomes results from new impediments to financial success that confront millennials, but that older Americans did not have to overcome. Meanwhile, young men's earnings have declined. Chinese hotel constructed in 90 hours. This is the most dangerous time for our planet. .@adidas is now making 3D-printed shoes by @sai. Comparing business to country. Read more. *****This robot can build a house faster than human (automation)

The History of opportunity by @FundersFounders. They started here! @10MillionMiler #startup #leadership #inspiration #entrepreneur RT... by #martin_steinman. #Manufacturing workforce in #Australia 1984: 1,098,000 jobs (17% of workforce) 2017: 907,000 jobs (8%) @australian. Worried about AI taking your job? It's already happening in Japan. In a national culture newly aware of micro-aggressions and offensive speech, what you say can easily strike the wrong tone.

Worried about AI taking your job? It's already happening in Japan

One increasingly common solution among US book publishers: Hire someone to be offended for you. From smugglers to supermarkets: the 'informal economy' touches us all. As I talk to him, Ahmed pulls his chair into his store to escape the hot Tunisian sun.

From smugglers to supermarkets: the 'informal economy' touches us all

He is a retired teacher – the years of screaming children can be counted in the rings framing his eyes. Behind him is his merchandise. To make up for a small pension, Ahmed is selling kitchenware in a market near the Libyan border, over four hundred tiny concrete garages surround him, goods piled high: clothes, bags, microwaves. It looks like any other market, but note an invisible detail: everything sold here is illegal. *****Chart: The Largest Companies by Market Cap Over 15 Years. The Oil Barons have been replaced by the Whiz Kids of Silicon Valley The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

*****Chart: The Largest Companies by Market Cap Over 15 Years

By definition, the largest companies by market cap are the most valued by investors in absolute terms. *****The Fourth Industrial Revolution: what it means and how to respond. We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another.

*****The Fourth Industrial Revolution: what it means and how to respond

In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. We do not yet know just how it will unfold, but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society. The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. Old Ladybird Books updated, part 96. The farm labourer, 1970 (This line was removed from later editions!) This skill could be key to the jobs of the future. CEOs of big companies Guys named John: 5% Women (all names): 4% #InternationalWomensDay. The jobs of the future – and two skills you need to get them.

The future of work is a key topic at this year's World Economic Forum Annual Meeting.

The jobs of the future – and two skills you need to get them

For more information, watch the Promise or Peril: Decoding the Future of Work session here. Could a robot do your job? #Onthisday 1949: Hops were harvested the old-fashioned way... on stilts. Hopefully beer drinkers raised a glass to these brave farmers. Employers are going soft: the skills companies are looking for. It’s no longer enough to fill your CV with impressive grades.

Employers are going soft: the skills companies are looking for

Employers are looking beyond qualifications to figure out what other skills their candidates have. Cognitive skills in topics like maths and English have long been used as to measure the calibre of a job candidate. But a report by The Hamilton Project, an economic think-tank, says that non-cognitive skills are also integral to educational performance and success at work – and are becoming increasingly so. Stephen Hawking: This will be the impact of automation and AI on jobs #technology. Few low skilled jobs on offer. These days more than ever #education is key to financial independence and success. Nearly half of current jobs could be automated by 2055, according to a new report. Automation Invasion According to a new report from the McKinsey Global Institute, nearly half of all the work we do will be able to be automated by the year 2055.

Nearly half of current jobs could be automated by 2055, according to a new report

However, a variety of factors, including politics and public sentiment toward the technology, could push that back by as many as 20 years. An author of the report, Michael Chui, stressed that this doesn’t mean we will be inundated with mass unemployment over the next decades. Worried about AI taking your job? It's already happening in Japan. Is globalization on its last legs, asks Barry Eichengreen.

LONDON – Does Donald Trump’s election as United States president mean that globalization is dead, or are reports of the process’ demise greatly exaggerated? If globalization is only partly incapacitated, not terminally ill, should we worry? How much will slower trade growth, now in the offing, matter for the global economy? World trade growth would be slowing down, even without Trump in office. Too Big to Fail: Inside America's Economic Downfall - CreditLoan.com® One of the largest financial crises in living memory, also called one great big Ponzi scheme, may be over, but the repercussions linger to this day.

Whatever you want to call it, many people lost a considerable amount of wealth, forever changing the global economic landscape. But don’t worry – that doesn’t mean that all these problems are fixed or that the people responsible will not be punished. It just means that next time you can’t get a loan or increase your credit limit, the banks will have an excuse to charge more. Who Started The 2008 Financial Crisis? *****Problems w US protectionism (Factory N America v Factory Asia etc) LONDON – Donald Trump’s ignominious executive order barring entry into the United States for refugees and others from seven predominantly Muslim countries has dominated headlines in recent weeks.

But the damage done to America’s image, and to the global economy, will only be further compounded by Trump’s early decisions on trade. *****4 levels of computer skills, and the surprising number of adults who fall short. It’s easy to assume that almost everyone, particularly in rich nations, is computer literate. Simple graph reminds us how spectacular the rise of the service sector in our #economy is in historical context.