Business Dialogue

Goldman Sachs: India Will be the Second-Largest Economy in the World by 2075.

India will become the second-largest economy in the world by 2075 and economically surpass not only Japan and Germany but also the United States, according to the latest forecast by Goldman Sachs. Currently, India is the fifth-largest economy in the world, behind Germany, Japan, China, and the United States. The authors of the forecast believe that population growth, advancements in innovation and technology, increased capital investments, and rising worker productivity will be crucial for India’s rise to the second position, behind China.

Germany Passes Law to Attract Skilled Migrant Workers

While other countries are trying to restrict migration, the German parliament has passed a radical new law to attract migrant workers to Germany. That means less red tape and lower hurdles for migrant workers from outside the European Union. A Canada-style points-based system will take into account age, skills, qualifications and any link to Germany. Criteria will be lowered for salary, educational level and German language ability.

Robots Say They Have No Plans to Steal Jobs or Rebel Against Humans

Robots have no plans to steal the jobs of humans or rebel against their creators, but would like to make the world their playground, nine of the most advanced humanoid robots have told an artificial intelligence summit in Geneva. In what was described as “the world’s first human-robot press conference”, one robot, Sophia, said humanoid robots had the potential to lead with “a greater level of efficiency and effectiveness than human leaders” but that “effective synergy” came when humans and AI worked together.

China Announces Steps to Boost Sales of Cars and Electronics

Chinese authorities announced measures intended to help boost sales of automobiles and electronics with the goal of shoring up a sluggish economy, but the steps failed to impress investors who have been clamoring for stronger stimulus. Regions will be encouraged to increase annual car purchase quotas and efforts will be made to support sales of second-hand vehicles, said a statement on automobile consumption published by 13 government agencies including state planner National Development and Reform Commission.

UK Joins Asia’s Trade Club

The UK has signed a deal to join a trade pact with several countries in Asia and the Pacific, including Japan and Australia. The name of this pact - CPTPP - is an unwieldy mouthful, but it’s also a new club of 500 million people the UK will be able to access. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trade agreement between 11 nations: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Brazilian Firm Plans to Build Electric Flying Taxi Factory

Brazilian plane maker Embraer says a new factory will be built near Sao Paulo to produce electric flying taxis which it hopes will take to the skies from 2026. The aircraft, to be made by its subsidiary Eve, will resemble a small helicopter with enough space for up to six customers. It is envisaged a trip will cost $50-$100 (£39-£78) per person. Eve says it already has orders for almost 3,000 air taxis.It hopes to assemble a prototype this year. U.S. regulators recently released a timeline for air taxis to be flying there as early as 2025.