Economics Explained Economics Explained

Qatar has one of the highest rates of migrant workers of any country in the world with over 90% of residents being non-citizens. So why does Qatar need so many migrant works and why are so many migrant workers willing to go to Qatar?

Over the past decade Sri Lanka was one of the fastest growing economies in Asia. However, they took on too much debt and now the country is collapsing.

It's no secret that China is facing a myriad of economic problems with many commentators predicting the impending collapse of the Chinese economy. But what would really happen is the world's second largest economy collapses?

Over time it is almost taken as given that science and technology will evolve and improve over time. But does the same hold true for the field of economics? Will future generations achieve superior levels of wealth due to advancements in economics or have we already solved everything there is to discover?

In the 1980s Nauru was the richest country in the world on a per capita basis. Nauru's wealth can be entirely attributed to its deposits on Phosphate, a substance used in fertilizers. However, by the early 2000s they had completely run out of Phosphate the country's GDP declined by more than 90%.

Inflation has been perhaps the single biggest issue facing the global economy over the past year and has proven far more persistent than most people originally assumed. But with central banks around the world all raising interest rates, will we finally see inflation go back down to more normal levels?