Xinyu Zhu in Suzhou, China
Photographer: Raul Ariano for Bloomberg MarketsThe New Economics of People in a World of Closing Doors
Skills and migration as much as trade help shape the wealth of nations. Here’s a look at how talented workers around the globe are making decisions about their future.
It’s the conundrum facing university graduates from India finding it harder to land a position. And it’s the challenge defining the future of scientists in the US and a robotics engineer in China. People want to develop their talents and work, and economies need minds and hands to grow—but that doesn’t mean workers can easily go where the jobs are.
International trade wars dominate the economic narrative these days. News headlines are full of conflicts over immigration, borders and the rights of newcomers, as the world’s largest and most powerful economy raises the barricades. What often gets lost is the essential role of people in driving prosperity. The economists’ shorthand prescription: have a growing population, educate those people well and put them where they can make the most of their abilities.