09 Dec GLASS HALF EMPTY – SHAKY OUTLOOK FOR 2023, SAYS BLOOMBERG; AUSTRALIA’S POWERFUL WOMEN
Welcome to this week’s round up of insights and commentary, brought to you by Team Cannings.
GLASS HALF EMPTY – SHAKY OUTLOOK FOR 2023, SAYS BLOOMBERG
Bloomberg economists have read the tea leaves and believe the global economy is steering towards one of its worst years in three decades.
Global economic growth is forecast to be only 2.4 per cent in 2023, down from an estimated 3.2 per cent this year. The slowdown marks the lowest level – excluding crisis years 2009 and 2020 – since 1993 – the year Bill Clinton was inaugurated as the 42nd president of the US.
In Australia, the nation’s economic growth came in slower than expected for the September quarter, expanding by 0.6 per cent. Economists are tipping a strong downturn in growth from December onwards but say Australia will avoid a recession that looks likely to hit the US and UK.
Hope they are right …
AUSTRALIA’S POWERFUL WOMEN
Six Australian women have been named across two major international “power lists” this week, highlighting the world’s most influential and powerful women in business, politics, activism, media, technology and philanthropy.
Making the cut among Forbes’ 100 Most Powerful Women were mining magnate Gina Rinehart (ranked 45), CEO and Managing Director of Macquarie Group Shemara Wikramanayake (ranked 52), Tesla Chairwomen Robyn Denholm (ranked 64), and former Prime Minister Julia Gillard (ranked 90).
Meanwhile, consent education advocate Chanel Contos and art consultant Sally Scales were recognised in the BBC 100 Women list.
TALKIN’ TO THE TIMES
Lexophiles received an early Christmas gift this week with the Oxford Dictionary naming “goblin mode” its word of the year.
The term, decided by the public for the first time, refers to a state in which “someone indulges their laziest or most self-indulgent habits”.
“Metaverse” and the popular Twitter hashtag “#IStandWith” were also in the running but were no feat for the winner, which was selected by almost 319,000 people and made up 93 per cent of the total vote.
Experts say goblin mode gives people the license to ditch social norms and embrace new ones – a perfect New Year’s resolution to ring in 2023.
UAE AND AUSTRALIA TALK TRADE
As Australia’s largest trading partner in the Middle East, the United Arab Emirates is looking to take its strong partnership with us to the next level.
Cannings worked with the UAE Embassy in Canberra to highlight the benefits of a proposed Comprehensive Economic Partnership Agreement between Australia and the UAE.
“It will pave the way for more opportunities for both of our countries by accelerating trade and increasing the ease of doing business,” the UAE Ambassador to Australia, His Excellency Abdulla Alsabousi, told the Australian Financial Review.
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