Girl Economics

Welcome back to another issue of Girl Economics! We have a packed issue with lots of brilliant articles written by the team. To save you having to read an especially lengthy newsletter, we’ll be summarising the articles in the newsletter and will link to them on our new website for you to read in full.

As a reminder, if you’re a student interested in getting involved with the Girl Economics Ambassador Program, you can apply here: https://forms.gle/Lt2oFtGugqntKTtT9

Top Stories

• UK Grocery inflation has fallen to just 2.1%, the lowest rate since 2021

• London is becoming less productive (productivity in the region fell by 2.7% between 2019 and 2023) while the rest of the country is becoming more productive (growth of 2.5% over the same period)

• Shein, a fast-fashion company valued at over $60bn, is preparing for its listing on the London Stock Exchange

China: The New Scientific Superpower?

Written by Anushree Bhattacharjee

In the age of rapid innovation, China has become a new scientific superpower, a development which has sparked concern in the US. Within the last twelve years, China’s ranking in the Global Innovation Index has increased from 34^th to 12^th  as of 2023.  While scientific innovation can come at the benefit of the human population, it may also allow China to develop its military prowess and lean into spheres of economic or diplomatic influence. After all, it is no secret that holding the keys to scientific innovation unlocks doors to significant military and geopolitical superiority. Xi Jinping has stressed the importance of scientific development to further improve China’s economic status on the global platform and overtake the US. 

How Sanction-Proof is Russia’s Economy?

Written by Natalie Andrusyschyn

Sanctions are an economic tool that have been levied by the West and its allies against Russia to punish the country and attempt to make its war against Ukraine unsustainable. EU sanctions have been issued against Russia since 2014 in response to its illegal annexation of Crimea. When Russia launched its full-scale invasion of Ukraine in February 2022, Russia was hit by several new rounds of sanctions including exclusion from SWIFT, banning oil and gas imports, targeting Russian oligarchs and freezing the foreign exchange reserves Russia holds in the west.

Let’s examine how well, if at all, Russia has managed to shield itself from the effects of western sanctions, beginning with Russia’s exclusion from SWIFT…

Save Now: High Deposits in the UAE

Written by Dhwani Mehta

The UAE’s banking sector is experiencing a boom, with savings and deposits showing a healthy upward trend.
Particularly noteworthy is the significant growth in savings deposits. The first quarter of 2024 (Q1-2024) saw a remarkable AED 13.8 billion flow into UAE banks, excluding interbank deposits. This impressive growth translates to a 5.1% increase compared to the end of 202. There has been an 8.9% year-on-year since March 2023.

Why You Should Follow Global Inflation Trends

Written by Damilola Olasupo

As a young person, you may not see why paying attention to economic news matters. Yet inflation affects virtually everyone’s daily life in many ways you might not think about until it hits home. One of the most direct effects is that your regular allowance or the money you earn from a part-time job will likely not buy you what it used to. If you are a big snacker, a big makeup or clothes person, or a big personal-items consumer in general, then the next round of items on sale might cost more than you can bear. If your family is feeling the effects of inflation in rising mortgage payments and energy bills, you might see your parents’ resources for extras evaporate at a faster pace, including outings, fashion or maybe even the basics.