EU Tourism Skills and Employment with Coronavirus

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While Covid-19 has caused much unemployment with lock downs and related economic issues, tourism and hospitality vocational skills are key in developing and driving short term to long term employment for youth and women especially, for broad economic recovery in Europe, Asia and elsewhere.

 

From CEDEFOP The European Centre for Development of Vocational Training:

 

Tourism at a crossroads: skills and jobs demand in the coronavirus era

 

As EU Member States struggle to revive their tourism sectors in the wake of the coronavirus crisis, skills are emerging as the deciding factor for successful economic recovery.

 

Tourism is a key employer of the EU economy. Employing some 13 million people, it contributes to substantial spill-over employment effects in other sectors, especially in construction, retail and healthcare. From 2000 to 2017, more than 1.8 million new jobs were created in the sector.

 

People working in tourism are vulnerable to coronavirus-related challenges and skills development implications. Almost one quarter of them are seasonal and temporary workers. The sector also attracts young workers, acting as a first entry point to the labour market for recent graduates, as well as a response to youth unemployment. It also offers easy employment access to vulnerable groups, such as women (almost two thirds of the workers in the sector), and migrants….

 

EU - tourism - economy - skills

Economic Impact of Tourism (Source: CEDEFOP)

 

….The sector also suffers from negative perceptions regarding working conditions and career prospects. Offering targeted and high-quality training opportunities could be a way to attract more and better-prepared candidates. Reskilling and upskilling of existing employees is necessary to respond to the emerging and persisting new trends in the sector, such as provision of services to targeted groups of visitors (for example, elderly or with disabilities).

 

Understanding the business and societal challenges and opportunities that affect employment levels, occupation tasks and, consequently, skill profiles in tourism is paramount for designing and offering relevant high-quality vocational education and training.

 

Read the full Skills developments and trends in the tourism sector analysis for in-depth information.’

 

For more articles and blogs about adult learning, career guidance, COVID-19, digital marketing, economics, EU European Union, industry based training, small business, soft skills, tourism marketing, training delivery, VET vocational education & training, work skills and younger generations click through.

 

Asian Century Starts 2020?

There has been much discussion over past decades on the rise of China and the Asian century viz a viz the USA and Europe. In recent months there have been clear Covid19 or Coronavirus amelioration strategies while the US, UK and several European nations have struggled, leading to significant economic impacts. More from the Asia Times:

 

Asian century began in May 2020

 

Region has emerged as an economic zone as closely integrated as the European Union

By DAVID P. GOLDMAN
MAY 21, 2020

 

Economic historians may date the start of the Asian century to May 2020, when most Asian economies bounced back to full employment while the West languished in coronavirus lockdown. Asia has emerged as an economic zone as closely integrated as the European Union, increasingly insulated from economic shocks from the United States or Europe.

 

Google’s daily data on workplace mobility uses smartphone location to determine the number of people going to work – by far the most accurate and up-to-date available reading on economic activity. As of May 13, Taiwan, South Korea and Vietnam were back to normal levels. Japan and Germany had climbed back to 20% below normal. The US, France and the UK remain paralyzed. Google can’t take readings in China, but the available evidence indicates that China is on the same track as Taiwan, South Korea and Vietnam.

 

Asian economic recovery is consistent with success in controlling the Covid-19 pandemic. China, Japan, Taiwan, South Korea, Hong Kong and Singapore have Covid-19 death rates a tenth of Germany’s and a hundredth of the rate in the US, UK, France or Spain. As I reported May 21, the US is struggling to re-open its economy despite a much higher rate of new infections than the Asian countries or Germany. That entails substantial risk. Two Ford Motor plants in the US that had re-opened May 17 shut yesterday after employees tested positive for Covid-19, for example.

 

Asia’s short-term surge followed its success in disease prevention. But the long-term driver of Asian growth is China’s emergence as a tech superpower. This week’s session of the People’s Congress in Beijing is expected to pass a $1.4 trillion of new government investments in 5G broadband, factory automation, self-driving cars, artificial intelligence and related fields.

 

Asia now acts as a cohesive economic bloc. Sixty percent of Asian countries’ trade is within Asia, the same proportion as the European Union. The Google mobility numbers confirm what we learned earlier this month from China’s April trade data. Intra-Asian trade surged year-over-year, while trade with the United States stagnated.

 

The surge in Chinese trade with Southeast Asia, South Korea and Taiwan shows the extent of Asian economic integration. China’s exports to Asia have grown much faster than its trade with the US, which stagnated after 2014.

 

China’s stock market meanwhile is this year’s top performer, down only 2% year-to-date on the MSCI Index in US dollar terms while all other major exchanges are deep in negative numbers. The strength of China’s stock market is noteworthy given the escalation of economic warfare with the US, including a US ban on third-party exports of computer chips made with US intellectual property to blacklisted Chinese companies, and the threat to de-list Chinese companies on US stock exchange……

 

For more articles and blogs about Asia, Australian politics, economics, EU European Union, GDP growth, global trade and nationalism click through.

 

Coronavirus – Trade Issues – US, China and Australia

While the Australian media and government, following the Trump US White House, demand action on China regarding Covid-19 causes or sources, and trade tariff issues, Australian publicly owned and listed miners Rio Tinto, BHP and Fortescue Metals Group have made their first iron ore export deals with China in Yuan, what does this mean for USD as a reserve or trading currency?

 

BHP completes first yuan-based iron ore sale to China’s Baosteel

Min Zhang, Tom Daly

 

BEIJING (Reuters) – The world’s top listed miner BHP Group said on Tuesday it had made its first yuan-denominated sale of iron ore to China Baoshan Iron & Steel Co Ltd (Baosteel) and would explore using blockchain for such transactions in future.

 

The sale of a Cape Size vessel of lump and fines, worth nearly 100 million yuan ($14.1 million), shows the Chinese currency is making further inroads in iron ore trading after Baosteel, the listed arm of the world’s biggest steelmaker China Baowu Steel Group, bought iron ore from Brazil’s Vale SA in yuan in January.

 

BHP said the deal was a part of a 12-month trial and will involve multiple cargoes.

 

The miner is also expecting to be able to complete its first blockchain iron ore transaction with Baosteel soon, it said in a statement. China, the largest iron ore consumer, brought in over 1 billion tonnes of the steelmaking raw material last year and has long sought to gain influence over pricing to help its steel firms weather market fluctuations.

 

In a separate statement, Baowu noted it had now struck yuan-based deals with the “three giants” of iron ore – BHP, Rio Tinto and Vale.

 

The fourth-biggest iron ore miner, Australia’s Fortescue Metals Group, is also selling in yuan after setting up a trading entity in China in April 2019.

 

“The active promotion of renminbi settlement in iron ore transactions is not only for operational needs, but also in line with the trend of yuan internationalisation,” Baowu said.

 

Baosteel recently concluded its first yuan-based iron ore purchase with Rio Tinto supported by Standard Chartered, blockchain financial platform Contour and other parties, according to a Rio Tinto statement sent to Reuters.

 

China’s iron ore imports jumped more than 11% in April from a month earlier as steel mills raced to restore production after the coronavirus pandemic paralyzed the economy earlier in the year.’

 

Related News:

 

How the Yuan Could Become a Global Currency

 

China’s Plan to Replace the U.S. Dollar. As China’s economic might grows, it’s taking steps to make that happen. A slim majority of institutional investors see it as inevitable, but don’t say when. Could we see a switch from a greenback to a redback-dominated world? If so, how and when would that happen? What would be the consequences’

 

China pushes ahead with making yuan a global currency.

 

But  Beijing still has its work cut out to rival the mighty US dollar. Beijing’s bold steps to globalize the yuan, such as its launch of yuan-denominated crude oil futures and its highly anticipated issuance of a digital currency, are in the limelight. But experts say that China has a long way to go to achieve its ambition to make the yuan a key global currency’

 

Rio Tinto, Baosteel use Contour blockchain for iron ore trade.

 

Earlier this week, Contour trade finance blockchain announced Rio Tinto and China’s Baosteel completed a yuan-based iron ore trade using its platform. It was the first blockchain-based letter of credit transaction on the platform for DBS Bank after it joined Contour on Monday. The Chinese government is encouraging trade to be denominated in the yuan / renminbi rather than the U.S. dollar and Baosteel is state-owned.

 

For more related blogs and articles on Australian Politics, Business Strategy, COVID-19, Economics, Global Trade and Nationalism click through.

University Higher Education or VET Vocational Training?

Guardian article has interesting points about the value or not of higher education versus vocational, white collar professionals versus practical or blue collar occupations and front line personnel in let sectors versus invisible managers. Important that career counsellors, teachers, parents, peers and communities are aware so that youth are not compelled or led to expensive higher education for unclear graduate outcomes and careers.

 

Coronavirus is teaching the UK it’s wrong to deride the practical professions

Liz Lightfoot

 

Post-pandemic, we must put vocational courses centre stage and stop favouring academic pupils over those who invent, make or care.

 

When my son was 15 he announced he intended to study law and be a barrister. “Why law?” I asked. “That’s what clever people do,” he replied.

 

He changed his mind, but at universities up and down the land there are students struggling and dropping out of courses because they chose what clever people do, often under pressure from their families to pursue academic, rather than more practical, routes to employment.

 

As the Covid-19 pandemic whips us to our senses, the full extent of our reliance on people who didn’t pursue an academic route has hit us like a hurricane. So this has to be the time, at last, for the UK to put vocational courses and qualifications centre stage. That means recognising them for what they are, not chasing the chimera of parity of esteem with academic ones, as in the past.

 

We don’t need only doctors, lawyers, civil servants, accountants and money analysts. We are crying out for care workers, plumbers, electricians and car mechanics. We applaud manufacturers who change tack to make ventilators and face masks. We are prostrate with gratitude to those keeping some semblance of normality going – the supermarket cashiers, bus and train drivers, and the refuse collectors. Oh, how we miss our hairdressers as we battle to disguise our greying locks.

 

We’re grateful to the farmers who keep producing, the drivers who deliver our online purchases; postal delivery workers; to the cheerful cornershop owner, the bakers, the ICT technicians who can restore our devices.

 

Then there’s a new appreciation of the caring services, social workers, nurses, paramedics and, of course, care workers. Parents, struggling to amuse and home educate their children, are now in awe of the nursery and teaching professions….

 

For related blogs and articles about adult learning, career guidance, higher education teaching, TAFE education & training, VET vocational education & training and younger generations click through.

Impact of EU Regulations and Standards on Global Markets

The Brussels Effect – The EU’s Impact upon Global Markets

In her important new book, Columbia Law professor Anu Bradford argues the EU remains an influential superpower that shapes the world in its image. By promulgating regulations that shape the international business environment, elevating standards worldwide, and leading to a notable Europeanization of many important aspects of global commerce, the EU has managed to shape policy in areas such as data privacy, consumer health and safety, environmental protection, antitrust, and online hate speech.

 

The Brussels Effect shows how the EU has acquired such power, why multinational companies use EU standards as global standards, and why the EU’s role as the world’s regulator is likely to outlive its gradual economic decline, extending the EU’s influence long into the future.

 

From Politico EU on The Brussels Effect:
THE BRUSSELS EFFECT: Anu Bradford, a professor at Columbia Law School, wrote the book on EU influence — literally. In early 2020, she published “The Brussels Effect: How the European Union Rules the World.” It details how the European Union manages to unilaterally regulate the global market.

 

“All the EU needs to do is to regulate [its internal] single market, and it is then the global companies that globalize those EU rules,” she told me during a pre-coronavirus trip to Brussels in early March. The most obvious example of this phenomenon, she said, is the EU’s General Data Protection Regulation.

 

Global influence: As international awareness of the EU’s regulatory power has grown, there’s been “a massive increase in the presence of foreign companies in Brussels” and their efforts to lobby institutions, said Bradford. “Because when you think about it, if you manage to influence the regulatory process in the EU, you can influence the regulations across the world.”

 

Despite the increased international lobbying effort, “we don’t see that lobbying [has] led to weak regulations,” according to Bradford. She contrasts this with the U.S. where corporate influence often undermines U.S. regulations. She chalks up this difference to the comparatively stronger influence of civil society in the legislative and rule-making process in the EU.

 

Bradford said this leads to “a more balanced outcome in the end, but certainly there is an awareness and attempt on behalf of the corporations to influence the outcomes.”

 

Civil society strength: Alberto Alemanno, founder of civil society NGO The Good Lobby, offers a slightly different view. He says that corporate influence in the EU, as well as the U.S., “is on average more successful in bureaucratic arenas” compared to NGOs and citizen groups. But, he added, “the different role EU civil society plays in shaping policymaking may have more to do with institutional features (EU technocratic apparatus’ incentives to engage with civil society, European Parliament’s increased power, lesser role of money in politics) than with NGOs’ inherent strength.”

 

And what about the coronavirus? Of course, Bradford’s “Brussels effect” will be tested by the pandemic. She believes that “unless globalization comes to a drastic halt (which it likely will not), the Brussels Effect will continue,” she wrote to me more recently via email.

 

But she is monitoring a few developments. This includes whether the crisis leads to more or less regulation, depending on whether there is an appetite for more or less EU after things settle down.

 

She also believes the technocratic nature of EU rule-making “insulates it to some degree from the crises.” But the uncertainty and disruption “will likely slow down the regulatory process in the immediate future.” This includes the EU’s new digital strategy, where the crisis may force officials to rethink its regulation of data and technology more broadly.

 

For more related blogs and articles on the EU European Union, economics, environment,  digital marketing and the EU GDPR click through.