OECD

• The growing marine tourism industry has significantly contributed to the growth of the electric outboard motors market in recent years.
• These factors contribute to the upward trajectory of the marine tourism industry, consequently driving the electric outboard motors market.
• The 5 kW–50 kW Electric Outboard Motors Market to Lead, While Above 50 kW Segment Poised for Rapid Growth
  The global 5 kW–50 kW electric outboard motors market to reach $96.83 million by 2029.
• Electric outboard motors ranging from 5 kW to 50 kW offer versatility across marine applications, catering to diverse boat sizes and types.

• Forecasting by the UN suggests China’s population will dip to 1.313 billion by 2050 and then down to about 800 million by 2100.
• This is a significant change and will have ramifications well beyond its borders.
• First is the ageing population with the percentage of those aged 60 and older currently above 20% of the total population.
• Changes in the healthcare system to cope with population changes could leave the many people feeling less well off or unhappy with services being reduced.

Labour force reductions

• Productivity gains (GDP per employed person) may also be affected by a reduced workforce, and one which is getting older.
• Some studies find evidence that labour productivity (output per working hour) varies with age.
• It tends to increase as a person enters the labour market, then plateaus between 30 and 40, and eventually declines as an individual’s work life comes to an end.
• Population shifts can lead to a “doom loop”, where one economic situation creates a negative impact and then another and another.
• Economic growth is driven by the effective combination of labour and capital (money) to generate services or products.

And prices go up outside China

• In Brazil and South Africa, for instance, both significant trading partners with China, these population shifts may lead to a lower demand for their exports.
• As productivity declines in China, its trading partners may be compelled to import products from other economies which in turn can increase the prices of their products.
• In short, as a recent OECD report puts it, a sharp economic slowdown in China would drag down global growth, the effects of which could be devastating.

Jose Caballero does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

• But she was also talking about the country’s international reputation for being clean, green, safe and honest.
• But recent rankings measuring the country’s international influence, transparency and corruption have started to tell a different story.
• Between 2021 and 2023, New Zealand dropped ten places – from 16 to 26 – on the Global Soft Power Index.

Brand New Zealand

• According to the 2023 Anholt-Ipsos Nation Brand Index, New Zealand is the 14th most valuable country brand in the world, valued at close to half a trillion New Zealand dollars in 2022 by brand valuation and strategy company Brand Finance.
• Brand New Zealand is a precious commodity in its own right, which has taken many decades to build.
• Since 2014, New Zealand has dropped six points in its CPI score, three times more than Denmark or Finland.

Perceptions matter

• A higher CPI score implies a lower level of perceived corruption.
• Read more:
  Return of the ‘consultocracy’ – how cutting public service jobs to save costs usually backfires

  But its two-point CPI slide from 87 to 85 is driven by perceptions among business leaders, as captured by the most recent World Economic Forum’s executive opinion survey taken in August 2023.

• CEO of Transparency International New Zealand, Julie Haggie, attributes the 2023 drop in business leaders’ confidence to three specific factors:

several high-profile cases of COVID-19 subsidy fraud and tax evasion by businesses
the government’s insufficient response to a rise in scamming, as well as a lack of transparency around government spending on outside consultation contracts and infrastructure projects
and a heightened focus on appropriate spending of public funds during a cost-of-living crisis when most New Zealanders are doing it tough.

Trust in government

• But it must still be mindful of the fragility of general trust in public institutions and the government.
• Damaging that trust can have unintended consequences for our international reputation.
• Cutting public spending by between 6.5% and 7.5%, as government agencies have been told to do, may be viewed positively by business leaders.
• But it can also erode public trust in government.

Turning the trend around

• While it placed 14th in the latest Transparency International ranking (with a CPI score of 75), Australia has gained two points under the Albanese Labor government.
• State capture by vested interest groups is a form of public corruption and would likely significantly affect New Zealand’s declining CPI score.

Matevz (Matt) Raskovic does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

• The feta cheese market size is expected to see strong growth in the next few years.
• An uptick in sheep and goat milk production is anticipated to drive the growth of the feta cheese market in the future.
• Hence, the surging inclination towards quick-service restaurants is a driving force behind the growth of the feta cheese market.
• Asia-Pacific is expected to be the fastest-growing region in the feta cheese market during the forecast period.