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Making a strong case for investing in women's health worldwide, the World Economic Forum on Tuesday said its new research shows that closing the women's health gap could unlock USD 400 billion in global GDP annually by 2040. The Forum also launched here at its annual meeting a new Women's Health Impact Tracking platform, a publicly accessible tool designed to monitor and bridge the health gaps faced by millions of women worldwide. The new report, Blueprint to Close the Women's Health Gap: How to Improve Lives and Economies for All, was published in collaboration with the McKinsey Health Institute (MHI). It highlighted that women live 25 per cent more of their lives in poor health compared to men and showed how targeted action around nine key health conditions could reduce the global disease burden by 27 million disability-adjusted life years and add the equivalent of 2.5 healthy days per woman per year. The nine conditions are divided into lifespan conditions, related to a total ..
The German economy, Europe's biggest, shrank for the second consecutive year in 2024, according to preliminary official figures released Wednesday weeks before an election in which the economy is the top issue. The Federal Statistical Office said that gross domestic product contracted by 0.2 per cent last year following a decline in 2023. The German economy has been battered by external shocks and homegrown problems, including red tape and a shortage of skilled labour, and politicians have been at odds over how to fix it. Chancellor Olaf Scholz's three-party coalition government collapsed in November when Scholz fired his finance minister in a dispute over how to revitalise the economy. That paved the way for an early election on February 23. Contenders to lead the next government have made contrasting proposals on how to inject new vigour into the economy.
The world economy, buffeted by conflict and growing geopolitical rivalries, is in danger of getting stuck in a slow-growth, high-debt rut, the head of the International Monetary Fund warned on Thursday. She also urged Chinese leaders to take more decisive action to jump-start their country's sluggish economy or risk seeing economic growth plummet. These are anxious times,' the fund's managing director, Kristalina Georgieva, told reporters during the fall meetings of the IMF and its sister agency, the World Bank. The IMF forecasts that the global economy will expand this year at what Georgieva called an anemic' 3.2 per cent. Global trade is lackluster at a time of conflict and growing geopolitical tension including frosty relations the world's two largest economies, the United States and China. Trade is no more a powerful engine of growth,' she said. "We live in a more fragmented global economy.' At the same time, many countries are struggling with debts they took on to combat the
The Japanese economy shrank at an annual rate of 1.8 per cent in the first quarter of this year, slightly better than the initial estimate at a 2.0 per cent contraction, according to revised government data Monday. The revision was due to private sector investments, at minus 0.4 per cent, up from the previous minus 0.5 per cent. Seasonally adjusted real gross domestic product, or GDP, a measure of the value of a nation's products and services, remained in negative territory, as exports and consumption declined from the previous quarter. Quarter-to-quarter, the economy slipped 0.5 per cent in the January-March period, according to the Cabinet Office, unchanged from last month's results. The annual rate measures what would have happened if the quarterly rate lasted a year. Wage growth has been slow, and prices on imports have risen amid a decline in the Japanese yen against the US dollar. The dollar is trading at nearly 157 yen lately, up from about 140 yen a year ago. The weak yen