The World Economy And The Reaction To Tariffs

 

The United States of America has imposed tariffs on multiple countries. This impacted the stock market causing a degree of alarm. The trade war with China never ended. The Biden administration did not make an attempt to reverse Trump's economic policies from 2017. Mexico, Canada, and the European Union countries are going to see an increase in tariffs on their products coming into the United States. The response from France, the United Kingdom, and Germany was to impose tariffs of their own in retaliation. What the Trump administration is trying to do is exploit economically counties of Europe, Africa, Asia, and South America. The funds that come from tariffs those believe will enable the government to increase revenue without federal income tax. The problem is that the United States does not have the manufacturing base. To an extent the country has been deindustrialized from globalization. Inflation is not under control and higher prices on goods causes more challenges for the public. Developing nations are going to be disproportionately effected. Consumers might begin to panic buy various items. The corporate elite are not going to face any hardship. Tariffs can indirectly benefit the wealthiest business owners. Foreign products are going to disadvantaged to favor American goods. Consumers around the world are going to pay more for food, clothing, cars, and other services. The new wave of tariffs causes concerns about a coming economic crisis.    

The Status of Power and Electricity Access In Africa

 

The African continent has a problem with access to power and electricity. Nigeria has suffered from power outages. North Africa based on collected data has more access to power compared to Sub-Saharan Africa. The countries that lack the most electricity are The African Central Republic, the Democratic Republic of the Congo, Chad,  and South Sudan. These three countries have a history of civil wars and armed groups fighting the government. The M23 rebels and Seleka rebels have fought in the DRC and the Central African Republic. South Africa has the highest access to electricity in its region. The need for better infrastructure and better power grids should be part of every African country's objective. Power and electricity are needed for modern nations. Electricity can be an indicator of development. Considering Africa's vast mineral and fossil fuel resources the economic possibilities are endless. Data  related to progress on electrification According to the IAEA , the number of people without electricity access expanded. The two major factor related to reversal  was the COVID-19 pandemic and the energy crisis related to events in Europe. The 2019 map shows the status before those two events. The African continent has more access to electricity compared to past. The challenge is keeping the process mobilized. The African Union must develop programs to bring electricity to all of the continent. The World Bank has created a plan known as mission 300. The goal is to get electrification to 300 million in sub-Sharan Africa. Although  the African Development Bank has collaborated with the World Bank on the program, fears of further long term debt arise. Mission 300 wants to have most of the region with electricity by 2030. The time frame is too short for such an ambitious project. The African Union should be leading efforts to provide electricity. Doing so would encourage immense  cooperation between all regions of Africa.  

The First Hoverbike Shown To The Public

 

The world's first hoverbike has been invented. The technology was the product of Aerwins. The capabilities are somewhat limited. The total speed the hoverbike can reach is 62 miles per hour. This can only remain in flight for 40 minutes. The hoverbike will not be replacing the motorcycle at the moment . Then the price makes it out of range for most of the public. The hoverbike by Aerwins costs up to $ 777,000. The name of this hoverbike is called Xturismo. The goal is to make a smaller model and an electric version. The schedule for release is set for 2025. Japan has simultaneously been building hoverbikes. Aerwins plans to produce 200 more Xturismo hoverbikes. While their application can go beyond just mere transportation, there are some concerns. Law enforcement could easily abuse this technology. The hoverbike could be designed for military use. That should not be the intent of the technology. Using them for a racing sport or search and rescue operations would be preferable. A hoverbike might be a better option than a car. The challenge would be related to regulating traffic. Certain companies want to invest in an air taxi service. Airlines have interest in the development of an air taxi service. The hoverbike is in an earl development stage. It takes time to develop technology and perfect engineering. 

The Microchip Shortage

 

There is a growing microchip shortage, which is impacting other economic sectors. The shortage is not effecting one nation, but the entire global economy. The auto industry in particular has seen production reduced due to the shortage. The majority of microchip production has shifted to consumer electronics. Seeing as the COVID-19 pandemic has reduced travel this is another blow to the automobile production. If lockdowns continue and the pandemic is not ended, consumer electronic consumption will rapidly increase in demand. Phones, televisions, and video game consoles are reliant semiconductor manufacturers. If the shortage becomes so dire production of electronics worldwide may suffer. Although this may seem like negative news, it could be a new opportunity for emerging companies to help with demand. If new corporations related to semiconductor production rise then it will help with employment and reducing the effects low numbers of microchips. Toyota, Ford, and Volkswagen have reported that their production has been effected by the shortage. A functioning auto industry must be maintained for the sake of economy recovery. The only solution is to encourage the growth of more semiconductor manufacturing companies, government subsidies to protect the auto industry, and monitoring consumer trends.