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The Economist – 24/08/07
August 21, 2007, 10:02 am
Filed under: current affairs

The Economist – 24/08/07

  • ┬áLatin America’s new middle class is growing with faster growth, low inflation, expanding credit and liberal trade conditions.
    • Many have small businesses; it is more accurate to label them as lower-middle class
  • The demand for mental healthcare services is increasing in China with the stresses of modern life.
  • Japan courts foreign investors for their ideas in the hope of reforming their businesses.
  • Blangadesh’s clothing industry is flourishing despite Chinese competition.
  • A cluster of family-owned Italian firms dominate the sunglasses industry
    • The biggest firm, Luxottica, has sales of 4.7b euroes last year.
    • These eyewear makers develop their own brands as well as manufacture glasses for luxury brands like Polo Ralph Lauren.
    • Luxottica is also acquiring big brands, like Ray-Ban and Oakley.
  • Italian firm Carpigiani has ice cream machines in over 100 countries, making it a dominant firm in the industry.
  • Asia is suffering a big shortage of skills
    • Shortage of qualified staff is a major concern with many MNCs.
    • Schools and universities are unable to keep up with demand.
    • Professionals like pilots, lawyers and doctors are especially scarce.
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