Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>According to Hurun's 2024 rich list, China lost 432 billionaires since the high of 1,185 in 2021.</li><li>It's a reflection of China's struggling economy and a government crackdown on the superrich.</li></ul>The number of China's billionaires has dropped by a third since 2021, according to an annual rich list.There were fewer dollar billionaires as difficulties for China's economy and government crackdowns took their toll, <a target="_blank" href="https://www.hurun.net/en-us/rank/hsrankdetails?pagetype=rich">the Hurun Research Institute said.</a>Hurun, a private research group that has tracked Chinese billionaires since 1999, said the total peaked in 2021 with 1,185 billionaires, a figure which fell to 753, a decline of 432, or 36% of the total.It comes as some of China's superrich choose to lie low or leave the country, finding covert ways to take their money with them.<h2 id="4b530a5d-4714-4288-bffd-c77cf18006cc">An old guard departs</h2>Older tycoons — often real estate — are giving way to a new cohort propelled by tech, energy, and e-commerce.Topping the Hurun list this year was <a target="_blank" href="https://www.businessinsider.com/tiktok-billionaire-zhang-yiming-net-worth-lifestyle-2019-11">Zhang Yiming</a>, the founder of TikTok owner Bytedance, with a fortune of $49.3 billion.ByteDance's global revenue grew 30% last year to $110 billion, with users in the US of its TikTok app closing in on 200 million. ByteDance operates a separate app, Douyin, for Chinese users.Yiming replaced <a target="_blank" href="https://www.businessinsider.com/asias-richest-man-zhong-shanshan-lifestyle-wealth-2021-1">Zhong Shanshan</a>, who fell to second place with a fortune of $47.9 billion. His worth declined 24%, the biggest drop of the year at $15.5 billion."The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy," said Rupert Hoogewerf, Hurun's Chairman and Chief Researcher."The likes of Robin Zeng of lithium battery maker CATL wasn't even on the list 10 years ago, neither was Li Zhenguo of solar panel maker Longi.""Most new faces this year came from Taiwan, which has enjoyed a relatively strong stock market, underpinned by its semiconductor industry," he said.Hoogewerf told Business Insider that the list only included people who were "born and bred, or started out and live in Greater China" up to a minimum age of 18, regardless of their current citizenship. <h2 id="bf71b05f-7223-409f-80f8-b31d7d85d3d0">A reflection of China's economy</h2>China's economy has been grappling with a prolonged housing crisis, high unemployment, high local government debt, and weak consumer demand. Those headwinds hit its superrich, too.Earlier this month, <a target="_blank" href="https://www.businessinsider.com/china-economy-3q-gdp-growth-stock-market-stimulus-2024-10">China released third-quarter growth data</a> that was its slowest in six quarters. The government is promising stimulus measures to boost economic growth and has plans to approve more than $1.4 trillion in extra debt in the next few years, according to <a target="_blank" class="" href="https://www.reuters.com/world/china/reaction-reuters-report-chinas-stimulus-plans-2024-10-29/">Reuters.</a>"With property prices falling and the economy generally tightening, it's not a big surprise the numbers of super-wealthy are falling in China," Kerry Brown, Professor of Chinese Politics at King's College London told BI."And people now don't want to draw attention to themselves while the government is laying stress on equity and greater balance."<h2 id="312e409a-c716-40ff-abfc-180d4446813d">An exodus of the superwealthy</h2>Chinese billionaires are also feeling <a target="_blank" href="https://www.businessinsider.com/china-regulate-excessive-wealth-common-prosperity-2021-8">Xi Jinping's push for a "common prosperity</a>," which was widely viewed as a call for billionaires to share their wealth.That led, among other things, to regulatory crackdowns on tech platform companies and campaigns against China's rich entrepreneurs.Some of China's superrich have also experienced political backlash for making statements perceived as against Xi, including <a target="_blank" href="https://www.businessinsider.com/jack-ma-teacher-alibaba-tech-titan-high-tech-farmer-agriculture-2023-12">Jack Ma, the founder of Alibaba and Ant Group and once the invincible poster boy of Chinese tech.</a>He <a target="_blank" href="https://www.businessinsider.com/jack-ma-not-missing-alibaba-china-2021-1">disappeared from public view</a> in 2020 after facing <a target="_blank" href="https://www.businessinsider.com/what-happened-ant-group-ipo-jack-ma-alipay-2020-11">action from Chinese regulators</a> that resulted in an antitrust investigation, a suspended IPO, and the loss of $12 billion in personal fortune within a few months."Other superrich individuals may have taken such high-profile cases as good reason to preempt possible trouble by moving out of China," Brown wrote in an article for <a target="_blank" href="https://theconversation.com/why-its-becoming-harder-to-get-super-rich-in-china-239774">The Conversation</a>.While this may not be reflected in the Hurun rich list, China is on track to see a record exodus of 15,200 high-net-worth individuals in 2024, according to a report by investment migration firm <a target="_blank" class="" href="https://www.henleyglobal.com/newsroom/press-releases/henley-private-wealth-migration-report-2024">Henley &amp; Partners.</a>High-net-worth individuals were classed as those with liquid investable wealth of $1 million or more.<h2 id="1c4d9b70-83c2-414a-ac76-1fb8ea05653b">Getting money out of China</h2>Individuals can wire no more than $50,000 a year overseas, which can be problematic for wealthy citizens who want to leave.According to a <a target="_blank" rel="noopener nofollow" href="https://www.bloomberg.com/news/articles/2023-10-08/how-china-s-rich-are-using-underground-networks-to-move-their-money-abroad?srnd=premium">Bloomberg</a> report last year, some ultra-rich Chinese citizens have been finding unusual, sometimes illegal, ways to move money in response.The report said that funds can move through an <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/china-economy-wealthy-investors-markets-rich-cash-banks-secret-transfer-2023-10">informal, underground banking system known as "hawala."</a> Those caught are typically fined 30% or more of the total amount that they had attempted to move."These agencies have sprouted to meet soaring demand," Joel Gallo, an adjunct professor of finance at New York University Shanghai, told Bloomberg. "They act as quasi-banking firms, yet operate without the scrutiny of one and adroitly engage in regulatory arbitrage by standing in a gray zone.Others are using virtual private networks to export their wealth in the form of crypto, which has been banned in China since 2021.<a target="_blank" class="" href="https://www.reuters.com/technology/bruised-by-stock-market-chinese-rush-into-banned-bitcoin-2024-01-25/">Reuters</a> reported that one finance executive used bank cards from small commercial banks to buy cryptocurrencies through gray-market dealers. He then capped each transaction at $6,978 to avoid alerting regulators.Brown, the expert at King's College London, said the loss of wealth in China shouldn't be overstated."It is still OK to be rich in China, if a bit less so than in the past. But it's probably more advisable to be low profile and very loyal in public to the Communist party — and to get rich working in high-tech sectors that the government favors."

China lost 36% of its billionaires to years of economic troubles and crackdowns

<ul class="summary-list"><li>US-based academics Daron Acemoglu, Simon Johnson, and James A. Robinson won the Nobel Prize in economics.</li><li>Their work has helped demonstrate how institutions affect wealth inequality, the prize committee said.</li></ul>Three economists based at US universities have been awarded the 2024 Sveriges Riksbank Prize in Economic Sciences for their work on how institutions affect wealth inequality.<a target="_blank" class="" href="https://www.businessinsider.com/ai-chatgpt-replace-jobs-unemployment-salaries-technology-economist-daron-acemoglu-2023-9">Daron Acemoglu</a>, Simon Johnson, and James A. Robinson will share the $1.1 million prize money, the <a target="_blank" class="" href="https://www.nobelprize.org/prizes/economic-sciences/2024/summary/">prize committee</a> said.The prize, known in its entirety as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is widely considered the most prestigious prize in the field."Reducing the vast differences in income between countries is one of our time's greatest challenges," said Jakob Svensson, chair of the Committee for the Prize in Economic Sciences. "The laureates have demonstrated the importance of societal institutions for achieving this."The three economists have developed theoretical tools that can explain why differences in institutions persist and how institutions can change, the committee said in <a target="_blank" class="" href="https://www.nobelprize.org/prizes/economic-sciences/2024/popular-information/">a press release</a>.Acemoglu and Johnson are professors at the Massachusetts Institute of Technology, while Robinson is director of the University of Chicago's Pearson Institute for the Study and Resolution of Global Conflicts.

3 US-based academics awarded the Nobel Prize in economics for their work on wealth inequality

<ul class="summary-list"><li>Americans are flocking to the South for jobs, lower taxes, and more affordable housing.</li><li>But by some economic measures, the South has some of the poorest states in the nation.</li></ul>The future of the US economy <a target="_blank" href="https://www.businessinsider.com/best-economy-us-south-texas-florida-houston-dallas-nashville-miami-2023-12">might be in the South</a> — but some states in the region are at risk of being left behind.What constitutes the Southern region of the US is <a target="_blank" href="https://www.businessinsider.com/south-states-usa-2018-5">up for debate</a>, but the Census Bureau <a target="_blank" href="https://www2.census.gov/geo/pdfs/maps-data/maps/reference/us_regdiv.pdf">defines</a> it as 16 US states — including Delaware, Maryland, Virginia, and West Virginia — plus the District of Columbia.In June, the financial services company WalletHub <a target="_blank" href="https://www.businessinsider.com/us-state-economies-ranking-best-worst-wallethub-washington-utah-massachusetts-2024-6">ranked the 50 states and DC</a> across three categories: economic activity, economic health, and innovation potential. Twenty-eight metrics, including the share of fast-growing firms, the unemployment rate, and entrepreneurial activity, were used in the analysis.Five of the 10 states with the lowest rankings were located in the South: <a target="_blank" href="https://www.businessinsider.com/mississippi-defends-abortion-ban-one-in-three-kids-in-poverty-2021-11">Mississippi</a>, West Virginia, Arkansas, Louisiana, and Kentucky.Additionally, the six states with the lowest <a target="_blank" href="https://www.businessinsider.com/us-economy-by-metro-area-ranked-san-francisco-seattle-austin-2018-4#40-cleveland-elyria-oh-1">GDP per capita</a> — the size of a state's economy, divided by the number of people living in the state — are all in the South: Mississippi, West Virginia, Arkansas, Alabama, South Carolina, and Kentucky. GDP per capita is one indicator that's used to gauge economic prosperity and living standards across the US — it's calculated using the latest state-level GDP data from the Bureau of Economic Analysis and population estimates from the Census Bureau.In some ways, the Southern economy is booming. Cities like Houston, Dallas, Miami, and Nashville could be poised to <a target="_blank" href="https://www.businessinsider.com/best-economy-us-houston-dallas-nashville-miami-cities-moving-businesses-2023-11">become economic powerhouses</a> as more companies invest there and create jobs. Additionally, warmer weather, <a target="_blank" href="https://www.businessinsider.com/save-income-tax-moving-california-florida-new-york-2022-9">lower taxes</a>, <a target="_blank" href="https://www.businessinsider.com/california-texas-moving-arizona-florida-expensive-housing-costs-washington-nevada-2023-10">cheaper housing</a>, and <a target="_blank" href="https://www.businessinsider.com/cities-hiring-the-most-florida-texas-california-job-growth-tech-2024-4">job growth</a> have persuaded many Americans to <a target="_blank" href="https://www.businessinsider.com/population-boom-south-texas-georgia-dallas-houston-atlanta-movers-homebuyers-2024-3">move South</a> in recent years — boosting the region's labor force and consumer <a target="_blank" class="" href="https://www.bea.gov/news/2023/personal-consumption-expenditures-state-2022">spending</a>.However, some economic measures show the South is lagging behind other regions of the US. And even if some of the region's cities and states prosper in the years to come, other areas could miss out on the economic boom.<h2 id="858fbdc9-29ae-4b33-8a5d-210eb5d9b9dd">Workers in Southern states tend to have lower wages</h2>An <a target="_blank" href="https://www.epi.org/publication/rooted-racism-part3/">analysis</a> of 2021 current population survey data published in July by the Economic Policy Institute, a left-leaning think tank, found that workers in the South earned less than those in other regions.The median Southern worker earned $20.30 an hour, compared to $21.05 in the Midwest, $22.08 in the West, and $23.81 in the Northeast. Additionally, the analysis found that 22% of Southern workers earned less than $15 an hour, compared to 17% in the Midwest, 12% in the Northeast, and 10% in the West.The Economic Policy Institute pointed to low <a target="_blank" href="https://www.businessinsider.com/map-the-last-time-each-state-raised-its-minimum-wage-2021-2">minimum wages</a> and <a target="_blank" href="https://www.businessinsider.com/labor-union-membership-fell-lowest-rate-record-2022-2023-1">unionization rates</a> in Southern states as two factors keeping pay down.Of course, workers in some Southern states earn less than others. In July, the Economic Innovation Group, a centrist think-tank, published an <a target="_blank" href="https://eig.org/wp-content/uploads/2024/07/TAWP-Kirkegaard.pdf">analysis</a> by Jacob Funk Kirkegaard, a nonresident fellow with the Peterson Institute for International Economics. Using US Bureau of Economic Analysis and Bureau of Labor Statistics data, the analysis highlighted the average annual wages across US states as of 2022.Mississippi had the second lowest average annual wage in the US at roughly $60,000 — only Hawaii ranked lower. Texas was the only Southern state in the top 10, ranking 8th with an average annual wage of about $80,000.<h2 id="1ecaa78f-0299-48c6-9804-8102c4eabe31">The South's low unemployment rate is misleading</h2>In recent years, the South has had a <a target="_blank" href="https://institute.bankofamerica.com/content/dam/economic-insights/regional-morsel-southern-economy-trends.pdf">low</a> unemployment rate compared to other US regions. But an <a target="_blank" href="https://www.epi.org/publication/rooted-racism-part2/#epi-toc-6">analysis</a> published in June by the Economic Policy Institute called the low jobless rate "misleading."That's because only people who are <a target="_blank" href="https://www.businessinsider.com/september-jobs-report-263k-payrolls-unemployment-rate-hiring-labor-market-2022-10">actively looking for work</a> are counted in official US unemployment statistics. And there's evidence to suggest many Southerners have given up looking or faced obstacles to employment, Chandra Childers, senior policy and economic analyst at the Economic Policy Institute, wrote in the analysis.As of 2022, the share of people aged 25 to 54 with jobs was lower in the South than the rest of the US, according to the Economic Policy Institute's analysis of Current Population Survey data. That so-called <a target="_blank" href="https://www.businessinsider.com/us-men-working-less-recessions-employment-productivity-2024-4">prime-age employment rate</a> — an oft-cited indicator of labor force strength — was 78.9% in the South, 79.2% in the West, 80.6% in the Northeast, and 81.9% in the Midwest.It's possible these figures could change as more updated data becomes available. But if people in the South are less likely to have jobs than people in other regions, then the region's low unemployment rate doesn't tell the full story.<h2 id="f8b9eb0e-36e7-48fb-9e8e-2275ade9e55e">There are reasons to be optimistic about the South's economy</h2>To be sure, it's not all doom and gloom for the South.A thriving economy needs people to work jobs and spend money, and the South is <a target="_blank" class="" href="https://www.businessinsider.com/city-metro-population-growth-from-2022-to-2023-florida-2024-3">boosting its population</a> in all sorts of ways.While the US has experienced a <a target="_blank" href="https://www.businessinsider.com/us-population-stalled-during-pandemic-slower-than-during-great-depression-2022-1">population slowdown</a> in recent years, the South has the <a target="_blank" href="https://www.businessinsider.com/best-economy-us-south-texas-florida-houston-dallas-nashville-miami-2023-12">highest birthrate</a> of any region. And when people are born there, they often don't leave. Eighty-two percent of native-born Texans still resided in the state as of 2021, the highest rate in the US, according to a Dallas Fed <a target="_blank" href="https://www.dallasfed.org/research/economics/2023/0829">analysis</a> published in August 2023. North Carolina and Georgia rounded out the top three.Many Americans not born in the South have moved there as well. Between July 2022 and 2023, the states with the <a target="_blank" href="https://www.businessinsider.com/state-population-growth-declines-map-moving-migration-census-2023-12">largest population growth</a> were all located in the South: Texas, Florida, North Carolina, Georgia, South Carolina, and Tennessee. Only two Southern states — Louisiana and West Virginia — were <a target="_blank" href="https://www.census.gov/newsroom/press-releases/2023/population-trends-return-to-pre-pandemic-norms.html">among</a> the eight US states that saw their populations decline between 2022 and 2023.Overall, there's plenty of reason to be optimistic about the future of the South's economy. However, it's still a work in progress, and some states are thriving considerably more than others.Have you moved into or out of the South over the past few years and are willing to share why you relocated? Or, are you a Southerner who is willing to talk about the influx of new residents? If so, reach out to this reporter at <a target="_blank" href="mailto:jzinkula@businessinsider.com">jzinkula@businessinsider.com</a>.

The South's economic boom is masking a harsher reality. It still has several of the poorest states in the nation. 

<ul class="summary-list"><li>Trump has promised to implement tariffs on virtually all US trade, and use them to replace the income tax.</li><li>But the US already has a history of implementing broad-sweeping tariffs, PIIE's Steven R. Weisman said.</li></ul>Donald Trump's preference for tariff policies has been on full show during the election cycle, with the Republican candidate pledging to tax virtually all US trade.But to Steven R. Weisman — a vice president with the Peterson Institute for International Economics — a look through American history shows why this could prove reckless. If a Trump White House imposes "over-the-top tariffs," it could return the country to a much less stable era, he wrote in an <a target="_blank" href="https://www.nytimes.com/2024/07/26/opinion/trump-tariffs-biden-ev.html">op-ed for the New York Times</a>."Overreliance on tariffs helped foment an era of economic shocks," he, outlining an entire policy timeline.His comments contradict Trump's perspective, with the former president frequently touting tariffs to solve US economic problems.If elected again in November, he has pledged to implement a <a target="_blank" href="https://www.businessinsider.com/trump-tariff-plan-inflation-policy-impact-trade-war-china-rates-2024-5">10% universal trade tax on virtually all US imports</a>, although Chinese goods would face rates as high as 60%. Separately, Trump has also offered <a target="_blank" href="https://www.businessinsider.com/trump-tariff-trade-policy-barrier-income-tax-rate-hikes-krugman-2024-7#:~:text=Trump%27s%20wide%2Dreaching%20tariff%20plan,%25%2C%20Nobel%2Dwinning%20economist%20says&amp;text=Trump%27s%20proposed%20tariffs%20would%20benefit,%2Dtax%20income%2C%20he%20said">tariffs as an alternative to the US income tax</a>.This isn't an untested approach, Weisman said. In fact, tariffs were the main source of federal revenue until 1913, when the 16th Amendment granted Congress the ability to collect an income tax.It's with good reason the US switched, he added."An across-the-board tariff policy would take us not to a prosperous future but to a reactionary past that stopped working in the 19th century, where it nearly bankrupted the government, aggravated class conflict, provoked instability and favored the wealthy over everyone else," Weisman wrote.For instance, one of the leading pushbacks to Trump's income-replacement idea is that tariffs simply <a target="_blank" href="https://www.businessinsider.com/trump-tariff-income-tax-proposal-stagflation-yellen-summers-trade-war-2024-6">cannot produce as much revenue</a> — a point proven by the Civil War, he noted. During the conflict, tariff-revenue insufficiencies threatened a fiscal crisis, pushing Congress to pass America's first, albeit temporary, income tax.Although World War I again highlighted the shortcomings of relying on tariffs, Weisman cited that America still re-embraced them by 1930. According to him, wide-sweeping trade barriers were seen as an effective shield for domestic industries and agriculture."Instead, they fueled a catastrophic global trade war, strangled commerce, unleashed competitive currency devaluations and intensified a worldwide depression that contributed to the rise of Nazism and wordwide war," he summarized.Trump, too, argues that protectionism is best for American workers and farmers, but Weisman sees the benefits as marginal at best.He offered an example: Where tariffs could diminish foreign competition in the steel industry, domestic manufacturers also depend on steel imports. And when trade barriers rise, access to these materials can decline.Weisman also noted that Trump's perception of tariffs as a cure-all for trade imbalances is misguided, a point proven by Trump's recent history.When his previous administration used tariffs to try to reduce the trade deficit with China, it had to pay $23 billion to bail out farmers when Beijing retaliated, he said.

Trump's 'over-the-top' tariffs will thrust the US back into an era of economic shocks, thank tank expert says

New York [US], May 21 (ANI): International tourist arrivals and the <keyword id="2173225" type="General" weightage="100" keywordseo="travel-and-tourism" source="Orion">travel and tourism</keyword> sector's contribution to <keyword id="572312" type="General" weightage="20" keywordseo="global-GDP" source="Orion">global GDP</keyword> are expected to return to pre-pandemic levels this year, driven by the complete lifting of COVID-19-related <keyword id="19916662" type="General" weightage="20" keywordseo="travel" source="keywords">travel</keyword> restrictions and strong pent-up demand, as per the new <keyword id="20020435" type="General" weightage="20" keywordseo="World-Economic-Forum" source="keywords" meta.keywordsubtype="org" meta.entityname="World Economic Forum" meta.hostid="261" meta.entityid="World Economic Forum">World Economic Forum</keyword> travel and <keyword id="19997361" type="General" weightage="20" keywordseo="tourism" source="keywords">tourism</keyword> study, released on Tuesday. Topping the 2024 list of economies are the US, Spain, Japan, France and Australia. The Middle East had the highest recovery rates in international tourist arrivals - 20 per cent above the 2019 level, while Europe, Africa and the US all showed a strong recovery of around 90 per cent in 2023. <keyword id="21745194" type="General" weightage="20" keywordseo="Travel-and-Tourism-Development-Index-2024" source="Orion">Travel and Tourism Development Index 2024</keyword> (TTDI), a biennial report published in collaboration with the University of Surrey, analysed the travel and tourism sectors of 119 countries around a range of factors and policies. "This year marks a turning point for the travel and tourism sector, which we know has the capacity to unlock growth and serve communities through economic and social transformation," said Francisco Betti, Head of the Global Industries team at the World Economic Forum. "The report offers a forward-looking window into the current and future state of travel and tourism for leaders to navigate the latest trends in this complex sector and sustainably unlock its potential for communities and countries across the world." The <keyword id="840423" type="General" weightage="20" keywordseo="global-tourism" source="Orion">global tourism</keyword> industry is expected to recover from the lows of the COVID-19 pandemic and surpass the levels seen before the crisis. As per the report, this is largely being driven by a significant increase in demand worldwide, which has coincided with more available flights, better international openness, and increased interest and investment in natural and cultural attractions. However, the report painted that the global recovery has been mixed. While 71 of the 119 ranked economies increased their index scores since 2019. Although the sector has moved past the shock of the global health crisis, it continues to deal with other external challenges, from growing macroeconomic, geopolitical and environmental risks, to increased scrutiny of its sustainability practices. In addition, labour shortages are ongoing, and air route capacity, capital investment, productivity and other sector supply factors have not kept up with the increase in demand. This imbalance, worsened by global inflation, has increased prices and service issues. Out of the top 30 index scorers in 2024, 26 are high-income economies, 19 are based in Europe, seven are in Asia-Pacific, three are in the Americas and one (the United Arab Emirates) is in the Middle East and North Africa region (MENA). The top 10 countries in the 2024 edition are the United States, Spain, Japan, France, Australia, Germany, the United Kingdom, China, Italy and Switzerland. The results highlight that high-income economies generally continue to have more favourable conditions for travel and tourism development. This is helped by conducive business environments, dynamic labour markets, open travel policies, strong transport and tourism infrastructure, and well-developed natural, cultural and non-leisure attractions. "It's essential to bridge the divide between differing economies' ability to build a strong environment for their travel and tourism sector to thrive," said Iis Tussyadiah, Professor and Head of the School of Hospitality and Tourism Management at the University of Surrey. "The sector has big potential to foster prosperity and mitigate global risks, but that potential can only be fully realized through a strategic and inclusive approach." If managed strategically, the travel and tourism sector - which has historically represented 10 per cent of global GDP and employment - has the potential to emerge as a key contributor to growth, it said. (ANI)

Worldwide tourism and its contribution to global GDP to return to pre-COVID levels this year: WEF study

<ul class="summary-list"><li>The Indian economy has grown strongly under Narendra Modi, whose party is set to win another term.</li><li>India's success has caught the eye of figures including Elon Musk, Jamie Dimon, and Tim Cook.</li></ul>India's powerful economic growth and blossoming middle class under Narendra Modi have caught the eye of corporate titans like Elon Musk, Jamie Dimon, and Tim Cook.Modi is pretty much a shoo-in for a third term as prime minister after the national election now underway ends on June 1. But the work starts there, as he'll have to navigate thorny issues such as youth unemployment, income inequality, and reliance on sanctioned Russian oil.<h2>Fueling growth and shaking hands</h2>India's economy has more than doubled in size during Modi's decade in charge to more than $3.7 trillion last year.The International Monetary Fund (IMF) <a target="_blank" href="https://www.imf.org/en/Blogs/Articles/2024/04/29/asias-growth-and-inflation-outlook-improves-but-risks-remain">recently upgraded</a> its growth forecast for real Gross Domestic Product (GDP) to a robust 7.8% this year, 6.8% in 2025, and 6.5% in 2026.India has already overtaken Britain to become the world's fifth-largest economy. It's on track to leapfrog Japan and Germany into third spot behind the US and China by 2027.The country's flagship stock index has also tripled in value since Modi took office in May 2014, thanks to wealth gains and growing investment appetites.Moreover, <a target="_blank" href="https://sbi.co.in/documents/13958/36530824/270224-HCES_Feb24.pdf">one estimate</a> puts the percentage of the Indian population living on less than $2.15 a day at below 5%, down from 12% in 2011. However, the <a target="_blank" href="https://pip.worldbank.org/country-profiles/IND">World Bank</a> pegged that figure at nearly 13% in 2021.India's middle class has also ballooned with 60 million people now earning the rupee equivalent of more $10,000 a year — about $37,200 once adjusted for <a target="_blank" href="https://www.imf.org/external/datamapper/profile/IND">purchasing power</a>. Goldman Sachs <a target="_blank" href="https://www.goldmansachs.com/intelligence/pages/indias-affluent-population-is-likely-to-hit-100-million-by-2027.html">expects</a> the ranks of the relatively affluent to swell to 100 million by 2027."Modi has done an unbelievable job in India," JPMorgan's Dimon <a target="_blank" href="https://www.businessinsider.com/jpmorgan-jamie-dimon-economy-inflation-recession-stagflation-geopolitics-crypto-bitcoin-2024-4">told</a> the Economic Club of New York last month. "I know the liberal press here, they beat the hell out of him. He's taken 400 million people out of poverty."Musk has <a target="_blank" href="https://twitter.com/elonmusk/status/1781541775183610310">posted</a> on X that he's looking forward to visiting India and meeting Modi this year. He delayed his trip last month, blaming "very heavy Tesla obligations." The pair are expected to discuss Tesla building a multibillion-dollar factory in the country.As for Apple's Cook, he hailed India on a November earnings call as an "incredibly exciting market" and a "<a target="_blank" href="https://www.businessinsider.com/apple-tim-cook-obsessed-india-consumers-iphone-2023-7">major focus of ours</a>" given the explosive growth in potential customers as locals get richer.<div type="image" title="Sundar Pichai, Tim Cook, Narendra Modi, Joe Biden" height="3907" width="5861" msid="109838230" hostid="261" sizebytes="846512"></div>Modi has also met with Nvidia CEO Jensen Huang, Microsoft boss Satya Nadella, and Alphabet's Sundar Pichai. He's likely to be seeking to attract foreign direct investment (FDI) in India — and to capitalize on bosses' <a target="_blank" href="https://www.businessinsider.com/us-china-relations-reshoring-manufacturing-jobs-made-in-america-2023-10">desire to hedge their bets on China</a> given its strained relationship with the US, economic woes, and how disruptive its strict pandemic lockdowns were to global supply chains."India's population and economic growth numbers are causing a lot of global executives to revisit their India presence and consider scaling up," Richard Rossow, a senior advisor and chair in US-India Policy Studies at the Center for Strategic &amp; International Studies, told Business Insider."Paired with increased concerns about supply chain resilience and security concerns about China, it's a very good time for a hard push to win investments."The United Nations said that India and China both had a population of 1.426 billion in April last year, meaning India is probably now the most populous given its rising birth rate.<h2>Change for the better — mostly</h2>Modi has instigated a raft of major economic reforms since taking office, intended to make India more business-friendly, and boost government revenues by taxing more of the country's vast informal economy.He rolled out a tax on goods and services, simplified bankruptcy laws, lifted FDI restrictions, cut corporate income tax, and ended retrospective taxation.However, not all of Modi's moves spurred growth."Demonetisation was a key economic policy which had negative effects on the economy," Kunal Sen, a director of the United Nations University World Institute for Development Economics, told BI.Sen is the author of several books about India's economy and a professor of development economics at the University of Manchester.He was referring to Modi's sudden declaration in November 2016 that all 500 and 1,000-rupee bills — 86% of Indian currency in circulation — would <a target="_blank" href="https://www.businessinsider.com/india-ending-500-and-1000-rupee-bills-to-fight-corruption-2016-11">no longer be accepted as legal tender</a>.The government's goals were to capture undeclared income, get rid of counterfeit currency, broaden the tax base, and bring more activities into the formal economy."The other key economic policy was JAM — the trinity of bank accounts for the poor, mobile numbers and a biometric card. This last economic policy has been revolutionary," Sen said.He was hailing a broader digitization drive under Modi that has <a target="_blank" href="https://www.businessinsider.in/business/news/how-indias-digital-payments-ecosystem-has-evolved-in-the-last-one-year/slidelist/90595832.cms">transformed</a> how Indians bank, invest, pay their taxes, and conduct business.<h2>Prosperity for all</h2>Modi's efforts have helped to usher in a more prosperous era for some Indians, but many have been left behind.Young people are India's beating heart, with about half its population under 25 and almost two-thirds under 35. Matching those hundreds of millions of people with jobs has proven a challenge, with youth unemployment almost tripling from below 6% in 2000 to about 18% in 2019. It still stands at a hefty 10% in 2023, per the <a target="_blank" href="https://webapps.ilo.org/wcmsp5/groups/public/---asia/---ro-bangkok/---sro-new_delhi/documents/publication/wcms_921154.pdf">International Labor Organization</a>.The report found that nearly 30% of India's graduates were unemployed in 2022, and only about 10% of the working-age population was formally employed.<div type="image" title="A farmer uses oxen to plow fields for lentils in Nimaj, Rajasthan, northern India." height="3464" width="5196" msid="109838232" hostid="261" sizebytes="690700"></div>"Unemployment is a big issue," Rossow said, emphasizing this isn't just a problem with recent graduates but a "much, much larger bubble: the underemployed farm laborers."Rising agricultural productivity is likely to help farm workers make a faster transition to city life in the years ahead, but they'll struggle to secure modern jobs in the services industry "without significant reskilling and education," Rossow said.As a result, lower-skilled manufacturing and assembly jobs and lower-end services jobs will be needed, he added.Another major challenge will be tackling a widening wealth divide. The richest 10% of the population hold more than 72% of the nation's wealth, per an Oxfam report <a target="_blank" href="https://d1ns4ht6ytuzzo.cloudfront.net/oxfamdata/oxfamdatapublic/2023-01/India%20Supplement%202023_digital.pdf?">published</a> last year.Business tycoons Mukesh Ambani and Gautam Adani both rank among the world's 15 richest people, per the <a target="_blank" href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index</a>. Luxury-goods sales are booming with <a target="_blank" href="https://www.carwale.com/news/mercedesbenz-lineups-waiting-period-reduced-in-india/">long waitlists</a> for flashy purchases like the Mercedes "G Wagon."<div type="image" title="The Ambani family onstage with Rihanna." height="854" width="1280" msid="109838233" hostid="261" sizebytes="99148"></div>The <a target="_blank" href="https://www.businessinsider.com/anant-ambani-pre-wedding-festivities-lack-empathy-india-radhika-merchant-2024-3">lavish pre-wedding party</a> thrown by the Ambani family earlier this year was singled out by some as an affront to the huge number of Indians living in poverty.Almost 1.3 billion people live on less than $3,500 a year by one estimate, and India ranks 111th on the <a target="_blank" href="https://www.globalhungerindex.org/ranking.html">Global Hunger Index</a>, below even North Korea.Rising equality is partly explained by a "capital-intensive mode of economic growth along with increasing power of business conglomerates," Sen told BI, referring to how huge companies like the Adani Group secure huge government contracts to build ports, bridges, highways, and other infrastructure.A third challenge is regional inequality, as some states like Bihar and Uttar Pradesh haven't experienced the same growth and modernization of their economies as others, Rossow said.<h2>The Russia riddle</h2>One striking aspect of Modi's economic boom has been its reliance on Russia since it invaded Ukraine in early 2022.India went from getting 2% of its crude oil from Russia before the war, to 35% last year. During that period, the US and Europe slapped sanctions on Russian oil to defund Putin's military machine and punish Moscow for attacking a sovereign nation.Despite that, India purchased an estimated $37 billion of Moscow's oil in 2023 — 13 times the amount it bought annually prior to the conflict. Its buying helped Russia rake in a <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-sales-india-ukraine-war-moscow-western-sanctions-2024-2">record $320 billion</a> of federal revenue last year.Indian demand for Russian oil has <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-oil-trade-crude-india-discount-barrel-sanctions-price-cap-2024-2">cooled</a> in recent months as new sanctions have made it <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-energy-exports-india-imports-revenue-sanctions-discount-2024-3">more expensive</a>, but the buying remains controversial.Officials in India have <a target="_blank" href="https://markets.businessinsider.com/news/commodities/crude-oil-prices-india-russia-trade-geopolitics-opec-supply-puri-2024-2">defended</a> the purchases, saying that if they'd bought Middle Eastern oil instead, global crude prices would have shot up.India is also one of the world's largest oil refiners and has helped Western nations to maintain access to refined petroleum products even as they're refraining from buying Russian crude directly.Yet the country imports 85% of its oil, so its overriding interest is securing the cheapest oil possible to support its development, said Neelima Jain, a senior fellow and chair in US India Policy Studies at CSIS."India will continue to buy Russian oil if the price remains favorable and allows for firm volume guarantees, as the country prioritizes energy affordability and accessibility during its rapid rural-to-urban transition, which has led to a 6% year-on-year growth in energy demand," she told BI."In an inflationary environment, economics [rather] than geopolitics will drive India's energy choices."<div type="image" title="Narendra Modi and Vladimir Putin" height="3196" width="4714" msid="109838234" hostid="261" sizebytes="426292"></div><h2>India the IT hub</h2>Under Modi, India has made big strides in modernizing its economy, combating bureaucracy, and appealing to foreign investors.Big Tech stalwarts like Microsoft have a <a target="_blank" href="https://www.businessinsider.com/microsoft-has-so-many-patents-its-outsourced-the-job-to-india-2013-5">long history</a> of outsourcing to India, but recent efforts to cut red tape and slash corporate taxes appear to have fueled fresh interest.Sweeping layoffs at Alphabet, Amazon, Meta, Salesforce and other US tech titans in the past few years could presage a large exodus of jobs to India.Sanjay Shetty of Randstad India <a target="_blank" href="https://economictimes.indiatimes.com/tech/technology/outsourcing-hubs-like-india-to-bag-40-of-jobs-lost-to-layoffs/articleshow/101088673.cms?">told The Economic Times</a> last summer that he expected 30% to 40% of the tech jobs eliminated globally to move to India by 2025."India is going to be the biggest gainer in the medium to long term, as almost every company that we speak to is looking at expanding its India base," Shetty said.Even if that pans out, it won't be a panacea for a country facing not just unemployment and underemployment, but also stark income inequality, regional disparities, and the risk of alienating Western allies by continuing to buy Russian oil.Yet overall, India appears to be headed in the right direction."The growth is real, if focused on a few key states," Rossow said. "India's dynamic technology services sector is to IT services what China is to manufacturing. So there is much to cheer, even as the reform agenda seems to never end."

Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty 

CEOs from Infosys, Deloitte, Pfizer, and Bank of America spoke about prosperity and ESG at the World Economic Forum

Businesses hate bike lanes. Sure, they reduce pollution, slow the pace of climate change, cut traffic fatalities, and make cities healthier and more pleasant. But they also take away parking spaces, which makes it tougher for shoppers to load up their cars with piles of stuff. <a target="_blank" href="https://www.businessinsider.com/mitt-romney-calls-new-bike-lanes-safety-height-of-stupidity-2023-3">Freaked-out business owners</a> have been <a target="_blank" href="https://www.businessinsider.com/cycling-boom-us-streets-infrastructure-bike-lanes-history-united-states-2020-12">fighting bike lanes</a> coast to coast, in cities from San Diego to Cambridge, Massachusetts. They worry — not unreasonably — that anything that makes it harder for customers to get to their stops will eat into their already precarious margins. “As someone whose family had a small business when I was growing up, I know how invested you get in it,” says Joseph Poirier, a senior researcher at the urban-planning consultancy Nelson Nygaard. “It’s your whole life. Anything you think could threaten that, even if the government and their consultants tell you it’s not going to be a problem, is very scary. It makes sense.”It’s also wrong. Four decades’ worth of research proves it. I know this because I’ve read every study and report I could find that looked specifically at the economics of bike lanes since 1984 — 32 research articles, to be exact. The results show that making <a target="_blank" href="https://www.businessinsider.com/road-rage-traffic-deaths-car-crashes-pedestrians-los-angeles-vermont-2024-2">streets friendlier for bikes</a> — and sidewalks friendlier for pedestrians — is actually good for business. The rise of <a target="_blank" href="https://www.businessinsider.com/e-bike-bicycle-lanes-infrastructure-save-money-fight-climate-change-2023-3">“complete streets” and “road diets,”</a> as urban planners call them, has been a huge boon to businesses in cities. I won’t walk you through every study, because most of them actually use survey data. Do you think bike lanes discourage shopping? How much do you spend when you ride your bike here? Surveys aren’t the most reliable way to look at this question. People lie, they misremember, they get stuff wrong. And anecdotal experience tends to loom too large. One angry customer who complains about <a target="_blank" href="http://journals.sagepub.com/doi/10.1177/0739456X9701700102">not being able to find parking</a> trumps the 10 who rode their bikes to your shop and didn’t say boo.More confoundingly, survey after survey has shown that business owners overestimate <a target="_blank" href="https://www.businessinsider.com/how-parking-spots-in-us-affect-environment-and-affordable-housing-2023-4">how many of their customers drive</a> to their stores, versus walking or biking. In a study of the effects of street improvements on a <a target="_blank" href="https://nacto.org/docs/usdg/yorkblvd_mccormick.pdf">shopping corridor in Los Angeles</a> published in 2012, more than half of the store owners on the bike-laned part of the boulevard thought most of their customers drove. The actual number was 15%.So what we need is financial data. Revenue numbers. Sales taxes. Credit-card receipts. Employment figures. That’s the good stuff. And for methodological rigor, we want to case-match our study areas to similar neighborhoods that didn’t get bike lanes — and to numbers for the city overall, to establish a baseline.That cuts the number of useful studies to just about half a dozen. Here, in brief, is what they tell us.In 2013, a researcher at the University of Washington named Kyle Rowe looked at <a target="_blank" href="https://bikewalkkc.org/wp-content/uploads/2016/03/Bikenomics_v4.pdf">two shopping districts in Seattle</a> that got put on road diets. Rowe compared sales taxes in these “Neighborhood Business Districts” with those in similar districts in the city that didn’t get bike lanes. In one NBD, which replaced car lanes and three parking spots with two bike lanes, sales closely tracked those in the bike-less areas, both in peaks and troughs. Conclusion: Bike lanes did nothing to reduce business. And in the other NBD, which replaced 12 parking spaces with a bike lane, sales quadrupled.Was the spike in business because more cyclists came to shop? Rowe, a careful researcher, declines to make that leap. “It would be logical to assume that more bicyclists were coming to the NBD because of the new facility,” he writes, “but no conclusion can be made to connect mode choice to economic performance.” Still, there’s no mistaking the data: Adding bike lanes certainly didn’t hurt sales — and may have boosted them dramatically.A year later, the New York City Department of Transportation conducted the same kind of study on a larger scale, examining sales-tax data in <a target="_blank" href="https://www.nyc.gov/html/dot/downloads/pdf/dot-economic-benefits-of-sustainable-streets.pdf">seven retail-heavy neighborhoods</a>. A few were plaza-type hubs; the others were more linear retail corridors. All had been through the kind of extensive changes to pedestrian access, mass transit, traffic calming, landscaping, and bike paths that New York was pushing at the time. The results were striking. Compared with the overall business climate in each borough, sales in the bike-friendly areas soared by 84 percentage points in Brooklyn, 9 percentage points in Manhattan, and 32 percentage points in the Bronx. “Better streets,” the report concludes, “provide benefits to businesses in all types of neighborhoods,” from “lower-income neighborhoods with ‘mom &amp; pop’ retail” to “glitzier areas with sky-high rents.”The next couple of studies got even more specific. In 2018, Joseph Poirier, the urban planner I quoted earlier, looked at sales data from <a target="_blank" href="http://journals.sagepub.com/doi/10.1177/0361198118792321">three retail neighborhoods in San Francisco</a> with newly installed bike lanes. Drawing on everything from industry coding conventions to map data, he was able to draw detailed distinctions among hundreds of businesses: what they sold (retail versus restaurants), where they were located (right next to a bike lane versus a few blocks away), and who their customers were (coffee shops serving locals, say, versus a furniture store serving the entire city).The results were mixed. In two of the three districts, shops and restaurants serving locals did way better than places serving a wider area. In the other district, sales tanked relative to the number of people a shop employed, suggesting that bike lanes gave an advantage to smaller businesses. “The takeaway is that it’s probably a minimal effect on businesses when you put in a bike lane,” Poirer says. “That actually makes a lot of sense. If you think of a busy downtown district, there’s not that many parking spaces relative to the number of people who come to the business.” In this case, bike lanes didn’t seem to help businesses much. But overall, it didn’t hurt them.In 2019 Poirer was on a team that did another study of San Francisco. They looked at <a target="_blank" href="http://journals.sagepub.com/doi/10.1177/0361198119850465">businesses directly adjacent</a> to two kinds of bike infrastructure — Class II, which creates dedicated bike lanes denoted by a paint stripe, and Class III, where signs instruct cars and bikes to share the street. (Either way, blocks with the new lanes lost an average of three parking spaces.) Once again, the results were mixed. On Class II lanes, bars and barber shops and banks enjoyed increases in sales, while furniture stores and gas stations were more likely to experience decreases. Older businesses tended to decline more than new ones. Overall, in the year after the bike infrastructure went in, businesses on Class II streets lost a median of $27,921 compared with $19,390 for those on Class III lanes. But similar shops that weren’t on a bike lane lost $25,296. When it came to bike lanes, there were lots and lots of winners. But there were some losers, too.The most definitive study, to my eye, came in 2020. Jenny Liu and Wei Shi, researchers at Portland State University in Oregon produced a 260-page report looking at <a target="_blank" href="https://archives.pdx.edu/ds/psu/33394">neighborhoods that got bike lanes and other street improvements</a> in Portland, San Francisco, Minneapolis, and Memphis. The team cross-referenced financial information like sales taxes with geographic data, so they could tell exactly where businesses were in relation to the street improvements. They ran three kinds of econometric analyses on each site. And they looked not only at revenue but also at the number of employees — per business and in total — in each study area. “I was really trying to be rigorous methodologically, to provide the kind of evidence that people can use to talk to their communities,” says Liu, the director of the Center for Urban Studies at Portland State.<div type="image" title="An older man in a baseball cap and parka rides a blue bicycle on a city shopping street, past parked cars and a yoga studio" height="2771" width="4000" msid="108304344" hostid="261" sizebytes="696084"></div>Like Poirier, Liu and Shi found that in many cases, only certain kinds of businesses benefited from the bike lanes and street improvements. Food and beverage did better; retail did worse. And just slapping a bike lane on a hectic thoroughfare didn’t do anyone any good. “On really large streets with high traffic volumes or speeds, even if you add a bike lane or pedestrian improvements, it still isn’t really inviting,” Liu says. “Just having street calming doesn’t always have positive results.”But overall, Liu’s team found, retail areas benefited from better streets. Sometimes nothing changed, but more often the areas near bike lanes wound up with more employees and more revenue. That was true in Portland, at two sites in San Francisco, one site in Minneapolis (at the other, retail did better than food), and one site in Memphis (at the other, food did a bit better than retail). Across the country, again and again, the numbers told the same story: Either “business activity remained pretty much constant,” Liu says, or “certain types of businesses became much more prosperous.” Back in the 1960s, when the advent of suburban flight and climate-controlled malls began to draw business away from America’s once thriving downtowns, cities tried to stanch the flow by banning cars on shopping streets. It was called, not exactly trippingly, “<a target="_blank" href="http://www.tandfonline.com/doi/abs/10.1080/01944368408977171">pedestrianization</a>,” and it was a disaster. Pedestrian-only plazas couldn’t compete with the Golden Age of the Automobile, and many downtowns turned into boarded-up wastelands. That extinction event is still encoded in the genetic memories of today’s retailers and restaurateurs.But things have changed. Nowadays, online retail is crushing brick-and-mortar worse than any half-assed pedestrian plaza ever could. What’s more, demand for new homes means lots of cities are putting them downtown, trading daytime workers for all-the-time residents close enough to ride a bike. <a target="_blank" href="https://www.businessinsider.com/bicycle-lanes-cycling-pandemic-coronavirus-2020-10">COVID showed us</a> it’s worth giving up parking spaces for outdoor restaurants. America’s cities are undergoing nothing short of a total rethink of <a target="_blank" href="https://www.wired.com/story/the-pandemic-might-have-redesigned-cities-forever/">what and whom downtowns are for</a>.<div type="image" title="A bike lane painted bright green separates a busy sidewalk with a pizza place and other shops from a bikeshare facility full of blue Citibikes and automotive traffic." height="3024" width="4032" msid="108304345" hostid="261" sizebytes="1827558"></div><a target="_blank" href="https://infrastructure.peopleforbikes.org/map/">Nationwide numbers</a> of bike lanes are tough to come by. By one count, there are <a target="_blank" href="https://www.adventurecycling.org/routes-and-maps/us-bicycle-route-system/">nearly 20,000 miles</a> of bike-ready paths in the United States, but that includes rural routes and trails. Still, city after city is working to create European-style streets. <a target="_blank" href="https://bikeportland.org/2023/01/13/which-part-of-portland-is-winning-the-bikeway-network-race-369311">Portland</a> has over 430 miles of bike lanes, about the same as <a target="_blank" href="https://www.chicago.gov/city/en/depts/cdot/provdrs/bike/news/2023/march/cdot-releases-updated-cycling-strategy-to-expand-bike-network-an.html#:~:text=Chicago%27s%20network%20of%20bicycle%20infrastructure,and%20other%20on%2Dstreet%20bikeways.">Chicago</a>; <a target="_blank" href="https://www.nyc.gov/html/dot/html/bicyclists/cyclinginthecity.shtml">New York City</a> has more than 1,500; <a target="_blank" href="https://la.streetsblog.org/2023/10/17/too-many-disappointments-in-l-a-city-bikeway-mileage-during-fiscal-year-2022-23">Los Angeles has added</a> almost 1,000 miles since 2010. And every new mile of bike lane per square mile of city <a target="_blank" href="https://journals.sagepub.com/doi/10.3141/1828-14">increases the number of cyclists</a> by 1%. The training wheels are about to come off the “complete street” movement.Now, advocates and policymakers should be honest about all this. Even if bike lanes boost revenues and employment overall, some individual businesses are going to win and some are going to lose. An older business selling heavier goods, or drawing from a wider watershed for its customer base, might well be in trouble. “Newer businesses who are thrilled with density and development around them are pivoting to a customer who’s younger, who’s arriving on a scooter or a bike,” says Larisa Ortiz, a managing director at the urban-planning consultancy Streetsense. “But this process of evolution toward bike lanes and mobility does not come without loss.”One way I’d propose to help businesses adjust to the total remaking of the urban landscape is the most American solution of all: Just hand them some money. All you’d have to do is build funds into the budgets for street-improvement projects to compensate adjacent businesses for any sales they wind up losing. If your business takes a hit from all the bikes, you get a pay-out.The most effective way to deal with opposition from local businesses is to just get the bike lanes built. Before-and-after surveys tend to show that in the long run, everyone winds up satisfied. “It’s a political question, and oftentimes it’s a very divided community when it comes to these types of projects,” Poirier says. “But once a street is changed, generally speaking, after six months or a year, nobody remembers what it used to look like. It’s the new normal.” All the data in the world may prove that bike lanes are good for business. But nothing beats experiencing them.<a target="_blank" href="https://www.businessinsider.com/author/adam-rogers">Adam Rogers</a> is a senior correspondent at Business Insider.

You Searched For "economic prosperity" and got 9 results

China lost 36% of its billionaires to years of economic troubles and crackdowns

Hannah Abraham

3 US-based academics awarded the Nobel Prize in economics for their work on wealth inequality

Polly Thompson

The South's economic boom is masking a harsher reality. It still has several of the poorest states in the nation.

Jacob Zinkula

Trump's 'over-the-top' tariffs will thrust the US back into an era of economic shocks, thank tank expert says

Filip De Mott

Worldwide tourism and its contribution to global GDP to return to pre-COVID levels this year: WEF study

ANI

Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty

Theron Mohamed

CEOs from Infosys, Deloitte, Pfizer, and Bank of America spoke about prosperity and ESG at the World Economic Forum

Julia Hood

CEOs from Infosys, Deloitte, Pfizer, and Bank of America spoke about prosperity and ESG at the World Economic Forum

Julia Hood

I read all the studies on the economic impact of bike lanes. Here's what I learned.

Adam Rogers

Popular Keywords

Buying Guides