What Are the World’s Happiest Countries?

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The great greying of China

Three factors are considered critical for increasing the TFP: market reforms, improvement of governance and scaling of human skills in manufacturing and services. Many economists have argued that faster rates of TFP growth are associated with rapid and liberal economic reforms. In China’s case, while President Xi has talked of market reforms and increasing consumption, […]

Big business boost

The globalization trend since the 1970s has fundamentally altered the nature of how large corporations operate and compete. Through organic growth and active mergers and acquisitions, large companies headquartered in high-income countries have constructed and orchestrated their production networks, supply chains and distribution systems around the world. As Peter Nolan, a professor at the University […]