An economy is a system that determines how resources, goods, and services are produced, distributed, and consumed within a society. Every country has an economic system that influences how businesses operate, how governments make decisions, and how individuals access products and services. There are four main types of economies: traditional, command, market, and mixed economies. […]
In recent years consumers around the world have faced a growing economic challenge known as shrinkflation, that unlike traditional inflation, where prices increase while the quantity of a product remains the same, shrinkflation occurs when companies reduce the size, weight, or quantity of a product while keeping the price unchanged or only slightly adjusted. The […]
As a highly developed country and identified as a tax haven and hub of major aviation, financial and maritime shipping, Singapore continues to strengthen its position as a hub for cultural exchange through a series of exhibitions that highlight the region’s diverse artistic traditions. Through its museums and cultural institutions, the country is showcasing stories that connect communities, histories, and artistic […]
Every year on 8 June World Oceans Day reminds us of the vital role oceans play in sustaining life on Earth. Covering more than 70 percent of the planet’s surface, oceans regulate climate, provide food and livelihoods, and support an extraordinary diversity of marine life. As global challenges such as pollution, overfishing, and climate change […]
What happens to the environment and the nature also happens to us. The Earth is already speaking to us—through record-breaking temperatures, more intense wildfires, extreme storms and glaciers disappearing before our eyes. For years, we have said that limiting global warming to 1.5°C is essential to avoiding the worst impacts of climate change. Today, that […]
What does stagflation mean for consumers and businesses? We need to learn about the situation brought by economist Phillips Curve who passed away recently. Stagflation is an economic condition characterized by the unusual combination of high inflation, slow economic growth, and high unemployment. Traditionally, economists believed that inflation and unemployment had an inverse relationship, as […]
Have you heard about Mabo Day? It is a historical day, uniquely Australia. Mabo Day is observed annually on June 3 in Australia to commemorate a landmark legal decision that transformed the nation’s understanding of Indigenous land rights. The day honors Eddie Koiki Mabo, a Torres Strait Islander man whose determination and courage led to […]
The Asia-Pacific region demonstrated resilience in 2025, recording economic growth of 3.3 percent, slightly exceeding earlier projections of 3.2 percent. However, according to the latest report from the APEC Policy Support Unit (PSU), the region faces growing challenges that are expected to slow economic momentum in the coming years. Asia-Pacific Economic Cooperation (APEC) is a […]
When we are thinking about money, inflation and price we pay on daily basis, we can refer to the Quantity Theory of Money as one of the most influential theories in monetary economics. Developed in the early twentieth century by an American economist Irving Fisher, who was considered a pioneer of modern economic thought, the […]
Can you imagine waking up every day in Bhutan with the fresh air of the Himalayas and breathtaking views? Nested in Himalayas and between India and China, Bhutan is often described as one of the world’s most peaceful and mysterious destinations. Known as the “Land of the Thunder Dragon,” this small Himalayan kingdom offers more […]
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