Month: January 2019

Improve Your Business Website With Help Of Online In Singapore

Recently, people search the best website for your business help with your functional need and targeted audience. You have to focus on the best consumers are entering their store as well as lots of Consumers are increasingly make to more online purchases every year.  The a1corp     provides both physical storefront and an online presence with more report from your business or a global maintaining a strong online presence is always respectively. In addition, it is the best process of your design and more clarity of your website is one of the most efficient and cost-effective ways. You can generate the all needs to build with all competitors to eat into your segment of the market. You have to register the Singapore company and more aware of these requirements are

Unlimited Process:   

Your company is more needs to be approved before incorporation. You have to need about the all additional number of your resident or non-resident directors should be appointed. You can allow to resident and non-resident directors need to atleast18 years old and free from all charges in the past. However, you have to possible for all1-50 shareholders from all consist of both local and non-local individuals for your companies. The     A1 set up company in Singapore is incorporated and share the all freely issued or transferred at any time. On another hand, you have to maintain the all company secretary within shareholders cannot act as the company secretary. You have to a minimum of register your Singapore Company. This process is available for more increased any time after your company is incorporated from all either a residential or commercial address. The Singapore-registered companies enjoy the all attractive from all attractive tax exemptions and incentives. You have to more make in annual profits as well as followed the capital gains or dividend taxes. On another hand, you have to refer the all Singapore corporate tax guide.

Why Choose Singapore:

Singapore is one of the best processes of your global businesses to site their headquarters. People know about all investment makes Singapore the most competitive from across the world. Singapore is the Investment Guarantee Agreements and more protection of your lots of innovations from all strong intellectual property laws.

Packages For Singapore Residents:

Many people like to more suitable for Singapore permanent residents wish to incorporate a private limited Singapore company from all professionals/entrepreneurs who are working in Singapore and are seeking a long-term stay.  注册新加坡公司流程 It is the best process of all positive starting from the informative right through to comprehensive the professional services. In addition, the wide range of your businesses with your modern luxury or a flatted factory is assured of premium facilities and infrastructure. In the main factor of your business analysis as well as specialized industrial Economics with a more strong pool of local and international Recruiting power of your many online recruitment portals and head-hunting agencies. Moreover, you can find out all the information on hiring and explore training programmes … Read More

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Canva Uncovered: How A Young Australian Kitesurfer Built A $3.2 Billion (Profitable!) Startup Phenom

On a steamy May morning in 2013, Canva CEO Melanie Perkins found herself adrift on a kiteboard in the channel between billionaire Richard Branson’s private Necker and Moskito islands. Her 30-foot sail floating deflated and useless beside her in the strong eastern Caribbean current, the 26-year-old entrepreneur waited for hours to be rescued. As she treaded water, her left leg scarred by a past collision with a coral reef, she reminded herself that her dangerous new hobby was worth it. After all, it was key to the fundraising strategy for the design-software startup she’d cofounded with her boyfriend six years before. Canva was based in Australia, thousands of miles from tech’s Silicon Valley power corridor. Getting a meeting—much less funding—was proving tough. Perkins heard “no” from more than 100 investors. So when she met the organizer of a group of kitesurfing venture capitalists at a pitch competition in her native Perth, Perkins got to training. The next time the group met to hear startup pitches and potentially write crucial early-stage funding checks, she’d have a seat at the table—even if it meant having to brave treacherous waters. “It was like, risk: serious damage; reward: start company,” Perkins says. “If you get your foot in the door just a tiny bit, you have to kind of wedge it all the way in.” Such perseverance has long been a necessity at Canva, which began as a modest yearbook-design business in the state capital of Perth on Australia’s west coast. From those remote origins, Canva has grown into a global juggernaut. Twenty-million-plus users from 190 countries use the company’s “freemium” Web-based app to design everything from splashy Pinterest graphics to elegant restaurant menus. Besides an impossible-to-beat price (millions of users pay nothing at all), Canva’s key advantage over rival products from tech giants like Adobe has been its ease of use. Before Canva, amateurs had to stitch together designs in Microsoft Word or pay through the nose for confusing professional tools. Today, anyone, anywhere, can download Canva and be creating within ten minutes. The company’s revenue comes from upselling to a $10-a-month premium version with snazzier features or, more recently, from sales of a streamlined corporate account option. High-quality stock photos—of which Canva has millions—cost another $1. It adds up. This year the company expects to more than double its revenue to $200 million; its most recent $85 million funding round valued it at $3.2 billion. Perkins, now 32 and an alum of the 2016 Forbes 30 Under 30 Asia list, has an estimated 15% stake, valued at $430 million. Throw in her 34-year-old cofounder—and now fiancé—Cliff Obrecht’s similar stake, and the Aussie power couple are likely worth more than $800 million. In an era of billion-dollar checks from SoftBank and high-profile profligacy at WeWork, Perkins and Obrecht do things differently. They are couch surfers who prefer budget trips to private jets. (This summer, with Canva already valued at… Read More

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Canva Uncovered: How A Young Australian Kitesurfer Built A $3.2 Billion (Profitable!) Startup Phenom

On a steamy May morning in 2013, Canva CEO Melanie Perkins found herself adrift on a kiteboard in the channel between billionaire Richard Branson’s private Necker and Moskito islands. Her 30-foot sail floating deflated and useless beside her in the strong eastern Caribbean current, the 26-year-old entrepreneur waited for hours to be rescued. As she treaded water, her left leg scarred by a past collision with a coral reef, she reminded herself that her dangerous new hobby was worth it. After all, it was key to the fundraising strategy for the design-software startup she’d cofounded with her boyfriend six years before. Canva was based in Australia, thousands of miles from tech’s Silicon Valley power corridor. Getting a meeting—much less funding—was proving tough. Perkins heard “no” from more than 100 investors. So when she met the organizer of a group of kitesurfing venture capitalists at a pitch competition in her native Perth, Perkins got to training. The next time the group met to hear startup pitches and potentially write crucial early-stage funding checks, she’d have a seat at the table—even if it meant having to brave treacherous waters. “It was like, risk: serious damage; reward: start company,” Perkins says. “If you get your foot in the door just a tiny bit, you have to kind of wedge it all the way in.” Such perseverance has long been a necessity at Canva, which began as a modest yearbook-design business in the state capital of Perth on Australia’s west coast. From those remote origins, Canva has grown into a global juggernaut. Twenty-million-plus users from 190 countries use the company’s “freemium” Web-based app to design everything from splashy Pinterest graphics to elegant restaurant menus. Besides an impossible-to-beat price (millions of users pay nothing at all), Canva’s key advantage over rival products from tech giants like Adobe has been its ease of use. Before Canva, amateurs had to stitch together designs in Microsoft Word or pay through the nose for confusing professional tools. Today, anyone, anywhere, can download Canva and be creating within ten minutes. The company’s revenue comes from upselling to a $10-a-month premium version with snazzier features or, more recently, from sales of a streamlined corporate account option. High-quality stock photos—of which Canva has millions—cost another $1. It adds up. This year the company expects to more than double its revenue to $200 million; its most recent $85 million funding round valued it at $3.2 billion. Perkins, now 32 and an alum of the 2016 Forbes 30 Under 30 Asia list, has an estimated 15% stake, valued at $430 million. Throw in her 34-year-old cofounder—and now fiancé—Cliff Obrecht’s similar stake, and the Aussie power couple are likely worth more than $800 million. In an era of billion-dollar checks from SoftBank and high-profile profligacy at WeWork, Perkins and Obrecht do things differently. They are couch surfers who prefer budget trips to private jets. (This summer, with Canva already valued at… Read More

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Canva Uncovered: How A Young Australian Kitesurfer Built A $3.2 Billion (Profitable!) Startup Phenom

On a steamy May morning in 2013, Canva CEO Melanie Perkins found herself adrift on a kiteboard in the channel between billionaire Richard Branson’s private Necker and Moskito islands. Her 30-foot sail floating deflated and useless beside her in the strong eastern Caribbean current, the 26-year-old entrepreneur waited for hours to be rescued. As she treaded water, her left leg scarred by a past collision with a coral reef, she reminded herself that her dangerous new hobby was worth it. After all, it was key to the fundraising strategy for the design-software startup she’d cofounded with her boyfriend six years before. Canva was based in Australia, thousands of miles from tech’s Silicon Valley power corridor. Getting a meeting—much less funding—was proving tough. Perkins heard “no” from more than 100 investors. So when she met the organizer of a group of kitesurfing venture capitalists at a pitch competition in her native Perth, Perkins got to training. The next time the group met to hear startup pitches and potentially write crucial early-stage funding checks, she’d have a seat at the table—even if it meant having to brave treacherous waters. “It was like, risk: serious damage; reward: start company,” Perkins says. “If you get your foot in the door just a tiny bit, you have to kind of wedge it all the way in.” Such perseverance has long been a necessity at Canva, which began as a modest yearbook-design business in the state capital of Perth on Australia’s west coast. From those remote origins, Canva has grown into a global juggernaut. Twenty-million-plus users from 190 countries use the company’s “freemium” Web-based app to design everything from splashy Pinterest graphics to elegant restaurant menus. Besides an impossible-to-beat price (millions of users pay nothing at all), Canva’s key advantage over rival products from tech giants like Adobe has been its ease of use. Before Canva, amateurs had to stitch together designs in Microsoft Word or pay through the nose for confusing professional tools. Today, anyone, anywhere, can download Canva and be creating within ten minutes. The company’s revenue comes from upselling to a $10-a-month premium version with snazzier features or, more recently, from sales of a streamlined corporate account option. High-quality stock photos—of which Canva has millions—cost another $1. It adds up. This year the company expects to more than double its revenue to $200 million; its most recent $85 million funding round valued it at $3.2 billion. Perkins, now 32 and an alum of the 2016 Forbes 30 Under 30 Asia list, has an estimated 15% stake, valued at $430 million. Throw in her 34-year-old cofounder—and now fiancé—Cliff Obrecht’s similar stake, and the Aussie power couple are likely worth more than $800 million. In an era of billion-dollar checks from SoftBank and high-profile profligacy at WeWork, Perkins and Obrecht do things differently. They are couch surfers who prefer budget trips to private jets. (This summer, with Canva already valued at… Read More

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Canva Uncovered: How A Young Australian Kitesurfer Built A $3.2 Billion (Profitable!) Startup Phenom

On a steamy May morning in 2013, Canva CEO Melanie Perkins found herself adrift on a kiteboard in the channel between billionaire Richard Branson’s private Necker and Moskito islands. Her 30-foot sail floating deflated and useless beside her in the strong eastern Caribbean current, the 26-year-old entrepreneur waited for hours to be rescued. As she treaded water, her left leg scarred by a past collision with a coral reef, she reminded herself that her dangerous new hobby was worth it. After all, it was key to the fundraising strategy for the design-software startup she’d cofounded with her boyfriend six years before. Canva was based in Australia, thousands of miles from tech’s Silicon Valley power corridor. Getting a meeting—much less funding—was proving tough. Perkins heard “no” from more than 100 investors. So when she met the organizer of a group of kitesurfing venture capitalists at a pitch competition in her native Perth, Perkins got to training. The next time the group met to hear startup pitches and potentially write crucial early-stage funding checks, she’d have a seat at the table—even if it meant having to brave treacherous waters. “It was like, risk: serious damage; reward: start company,” Perkins says. “If you get your foot in the door just a tiny bit, you have to kind of wedge it all the way in.” Such perseverance has long been a necessity at Canva, which began as a modest yearbook-design business in the state capital of Perth on Australia’s west coast. From those remote origins, Canva has grown into a global juggernaut. Twenty-million-plus users from 190 countries use the company’s “freemium” Web-based app to design everything from splashy Pinterest graphics to elegant restaurant menus. Besides an impossible-to-beat price (millions of users pay nothing at all), Canva’s key advantage over rival products from tech giants like Adobe has been its ease of use. Before Canva, amateurs had to stitch together designs in Microsoft Word or pay through the nose for confusing professional tools. Today, anyone, anywhere, can download Canva and be creating within ten minutes. The company’s revenue comes from upselling to a $10-a-month premium version with snazzier features or, more recently, from sales of a streamlined corporate account option. High-quality stock photos—of which Canva has millions—cost another $1. It adds up. This year the company expects to more than double its revenue to $200 million; its most recent $85 million funding round valued it at $3.2 billion. Perkins, now 32 and an alum of the 2016 Forbes 30 Under 30 Asia list, has an estimated 15% stake, valued at $430 million. Throw in her 34-year-old cofounder—and now fiancé—Cliff Obrecht’s similar stake, and the Aussie power couple are likely worth more than $800 million. In an era of billion-dollar checks from SoftBank and high-profile profligacy at WeWork, Perkins and Obrecht do things differently. They are couch surfers who prefer budget trips to private jets. (This summer, with Canva already valued at… Read More

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China’s Richest 2019: Growing Consumer Appetite Boosts Fortunes Of Nation’s Wealthiest

This story is part of Forbes’ coverage of China’s Richest 2019.

The headlines from China in the past year have been gloomy. Trade friction with the U.S. has risen, while GDP growth in the world’s second-largest economy slowed to a near three-decade low of 6%. Happily for the country’s wealthiest, however, there’s more good news than bad among the members of our list of China’s richest.

The total wealth of the 400 members of the China Rich List rose by more than a fifth from a year ago, to $1.29 trillion, as China’s consumers spent more on everything and spent more of it online. More than half the listees saw their fortunes climb in the past year, while a quarter saw their fortunes fall. The minimum net worth needed to make the list this year was $1 billion, back to 2017’s threshold, after dropping in 2018 to $840 million. There were 60 newcomers to the list; returnees made up most of the rest.

Topping the list for a second year is Jack Ma, who recently resigned as chairman of the e-commerce giant he co-founded, Alibaba, to focus on philanthropy. Ma’s fortune rose to $38.2 billion from $34.6 billion a year earlier as New York-listed Alibaba gained on China’s e-commerce boom. Second and third on the list: Tencent CEO Huateng “Pony” Ma, with a fortune worth $36 billion, and Evergrande Group Chairman Hui Ka Yan, worth an estimated $27.7 billion, their ranks are unchanged from last year.

Growing fortunes in online shopping appear throughout the list. Colin Huang, CEO of e-commerce site Pinduoduo, saw his estimated net worth soar to $21.2 billion from $11.25 billion last year as Pinduoduo gained on rival JD.com. Entrepreneurs who provide services tied to e-commerce also did well: Lai Meisong, CEO of Alibaba-backed express delivery firm ZTO, saw his fortune climb to $4.6 billion from $3.35 billion.

Pharmaceutical and healthcare fortunes are also benefitting as rising incomes enable Chinese to spend more on healthcare. Sun Piaoyang, chairman of Jiangsu Hengrui Medicine, moved up to No. 4 with a fortune of $25.8 billion. He shares that spot with his wife Zhong Huijuan. The two gained on growing business at Sun’s Hengrui as well as a Hong Kong IPO by Zhong-led company Jiangsu Hansoh Pharmaceutical. Li Xiting, chairman of medical equipment supplier Shenzhen Mindray Bio-Medical Electronics, also moved up to about $8.5 billion from $1.8 billion as its shares soared after the company relisted its shares at home in China following its 2016 delisting from the New York Stock Exchange.

Sportswear maker Anta Sports’ Hong Kong-listed shares have more than doubled in the past year, helping propel the fortune of its two leaders—brothers Ding Shizhong and Ding Shijia—up by almost 150% to $5.6 and $5.5 billion, respectively. Two Anta executives also landed on the list for the first time: CFO Lai Shixian, a Ding brother-in-law, at $1.4 billion and Wang Wenmo, a family cousin who manages Anta’s … Read More

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China’s Richest 2019: Growing Consumer Appetite Boosts Fortunes Of Nation’s Wealthiest

This story is part of Forbes’ coverage of China’s Richest 2019.

The headlines from China in the past year have been gloomy. Trade friction with the U.S. has risen, while GDP growth in the world’s second-largest economy slowed to a near three-decade low of 6%. Happily for the country’s wealthiest, however, there’s more good news than bad among the members of our list of China’s richest.

The total wealth of the 400 members of the China Rich List rose by more than a fifth from a year ago, to $1.29 trillion, as China’s consumers spent more on everything and spent more of it online. More than half the listees saw their fortunes climb in the past year, while a quarter saw their fortunes fall. The minimum net worth needed to make the list this year was $1 billion, back to 2017’s threshold, after dropping in 2018 to $840 million. There were 60 newcomers to the list; returnees made up most of the rest.

Topping the list for a second year is Jack Ma, who recently resigned as chairman of the e-commerce giant he co-founded, Alibaba, to focus on philanthropy. Ma’s fortune rose to $38.2 billion from $34.6 billion a year earlier as New York-listed Alibaba gained on China’s e-commerce boom. Second and third on the list: Tencent CEO Huateng “Pony” Ma, with a fortune worth $36 billion, and Evergrande Group Chairman Hui Ka Yan, worth an estimated $27.7 billion, their ranks are unchanged from last year.

Growing fortunes in online shopping appear throughout the list. Colin Huang, CEO of e-commerce site Pinduoduo, saw his estimated net worth soar to $21.2 billion from $11.25 billion last year as Pinduoduo gained on rival JD.com. Entrepreneurs who provide services tied to e-commerce also did well: Lai Meisong, CEO of Alibaba-backed express delivery firm ZTO, saw his fortune climb to $4.6 billion from $3.35 billion.

Pharmaceutical and healthcare fortunes are also benefitting as rising incomes enable Chinese to spend more on healthcare. Sun Piaoyang, chairman of Jiangsu Hengrui Medicine, moved up to No. 4 with a fortune of $25.8 billion. He shares that spot with his wife Zhong Huijuan. The two gained on growing business at Sun’s Hengrui as well as a Hong Kong IPO by Zhong-led company Jiangsu Hansoh Pharmaceutical. Li Xiting, chairman of medical equipment supplier Shenzhen Mindray Bio-Medical Electronics, also moved up to about $8.5 billion from $1.8 billion as its shares soared after the company relisted its shares at home in China following its 2016 delisting from the New York Stock Exchange.

Sportswear maker Anta Sports’ Hong Kong-listed shares have more than doubled in the past year, helping propel the fortune of its two leaders—brothers Ding Shizhong and Ding Shijia—up by almost 150% to $5.6 and $5.5 billion, respectively. Two Anta executives also landed on the list for the first time: CFO Lai Shixian, a Ding brother-in-law, at $1.4 billion and Wang Wenmo, a family cousin who manages Anta’s … Read More

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China’s Richest 2019: Growing Consumer Appetite Boosts Fortunes Of Nation’s Wealthiest

This story is part of Forbes’ coverage of China’s Richest 2019.

The headlines from China in the past year have been gloomy. Trade friction with the U.S. has risen, while GDP growth in the world’s second-largest economy slowed to a near three-decade low of 6%. Happily for the country’s wealthiest, however, there’s more good news than bad among the members of our list of China’s richest.

The total wealth of the 400 members of the China Rich List rose by more than a fifth from a year ago, to $1.29 trillion, as China’s consumers spent more on everything and spent more of it online. More than half the listees saw their fortunes climb in the past year, while a quarter saw their fortunes fall. The minimum net worth needed to make the list this year was $1 billion, back to 2017’s threshold, after dropping in 2018 to $840 million. There were 60 newcomers to the list; returnees made up most of the rest.

Topping the list for a second year is Jack Ma, who recently resigned as chairman of the e-commerce giant he co-founded, Alibaba, to focus on philanthropy. Ma’s fortune rose to $38.2 billion from $34.6 billion a year earlier as New York-listed Alibaba gained on China’s e-commerce boom. Second and third on the list: Tencent CEO Huateng “Pony” Ma, with a fortune worth $36 billion, and Evergrande Group Chairman Hui Ka Yan, worth an estimated $27.7 billion, their ranks are unchanged from last year.

Growing fortunes in online shopping appear throughout the list. Colin Huang, CEO of e-commerce site Pinduoduo, saw his estimated net worth soar to $21.2 billion from $11.25 billion last year as Pinduoduo gained on rival JD.com. Entrepreneurs who provide services tied to e-commerce also did well: Lai Meisong, CEO of Alibaba-backed express delivery firm ZTO, saw his fortune climb to $4.6 billion from $3.35 billion.

Pharmaceutical and healthcare fortunes are also benefitting as rising incomes enable Chinese to spend more on healthcare. Sun Piaoyang, chairman of Jiangsu Hengrui Medicine, moved up to No. 4 with a fortune of $25.8 billion. He shares that spot with his wife Zhong Huijuan. The two gained on growing business at Sun’s Hengrui as well as a Hong Kong IPO by Zhong-led company Jiangsu Hansoh Pharmaceutical. Li Xiting, chairman of medical equipment supplier Shenzhen Mindray Bio-Medical Electronics, also moved up to about $8.5 billion from $1.8 billion as its shares soared after the company relisted its shares at home in China following its 2016 delisting from the New York Stock Exchange.

Sportswear maker Anta Sports’ Hong Kong-listed shares have more than doubled in the past year, helping propel the fortune of its two leaders—brothers Ding Shizhong and Ding Shijia—up by almost 150% to $5.6 and $5.5 billion, respectively. Two Anta executives also landed on the list for the first time: CFO Lai Shixian, a Ding brother-in-law, at $1.4 billion and Wang Wenmo, a family cousin who manages Anta’s … Read More

sample accessily post 2

China’s Richest 2019: Growing Consumer Appetite Boosts Fortunes Of Nation’s Wealthiest

This story is part of Forbes’ coverage of China’s Richest 2019.

The headlines from China in the past year have been gloomy. Trade friction with the U.S. has risen, while GDP growth in the world’s second-largest economy slowed to a near three-decade low of 6%. Happily for the country’s wealthiest, however, there’s more good news than bad among the members of our list of China’s richest.

The total wealth of the 400 members of the China Rich List rose by more than a fifth from a year ago, to $1.29 trillion, as China’s consumers spent more on everything and spent more of it online. More than half the listees saw their fortunes climb in the past year, while a quarter saw their fortunes fall. The minimum net worth needed to make the list this year was $1 billion, back to 2017’s threshold, after dropping in 2018 to $840 million. There were 60 newcomers to the list; returnees made up most of the rest.

Topping the list for a second year is Jack Ma, who recently resigned as chairman of the e-commerce giant he co-founded, Alibaba, to focus on philanthropy. Ma’s fortune rose to $38.2 billion from $34.6 billion a year earlier as New York-listed Alibaba gained on China’s e-commerce boom. Second and third on the list: Tencent CEO Huateng “Pony” Ma, with a fortune worth $36 billion, and Evergrande Group Chairman Hui Ka Yan, worth an estimated $27.7 billion, their ranks are unchanged from last year.

Growing fortunes in online shopping appear throughout the list. Colin Huang, CEO of e-commerce site Pinduoduo, saw his estimated net worth soar to $21.2 billion from $11.25 billion last year as Pinduoduo gained on rival JD.com. Entrepreneurs who provide services tied to e-commerce also did well: Lai Meisong, CEO of Alibaba-backed express delivery firm ZTO, saw his fortune climb to $4.6 billion from $3.35 billion.

Pharmaceutical and healthcare fortunes are also benefitting as rising incomes enable Chinese to spend more on healthcare. Sun Piaoyang, chairman of Jiangsu Hengrui Medicine, moved up to No. 4 with a fortune of $25.8 billion. He shares that spot with his wife Zhong Huijuan. The two gained on growing business at Sun’s Hengrui as well as a Hong Kong IPO by Zhong-led company Jiangsu Hansoh Pharmaceutical. Li Xiting, chairman of medical equipment supplier Shenzhen Mindray Bio-Medical Electronics, also moved up to about $8.5 billion from $1.8 billion as its shares soared after the company relisted its shares at home in China following its 2016 delisting from the New York Stock Exchange.

Sportswear maker Anta Sports’ Hong Kong-listed shares have more than doubled in the past year, helping propel the fortune of its two leaders—brothers Ding Shizhong and Ding Shijia—up by almost 150% to $5.6 and $5.5 billion, respectively. Two Anta executives also landed on the list for the first time: CFO Lai Shixian, a Ding brother-in-law, at $1.4 billion and Wang Wenmo, a family cousin who manages Anta’s … Read More

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The Next Recession May Come By Stealth

Markets have been blowing hot and cold regarding the prospects of a recession in the U.S. The Institute of Supply Management’s November survey shows that the index of factory activities in the U.S. fell to 48.1 from 48.3 in October (any reading below 50 is indicative of a contraction). This is confounding the expectation that America’s domestic industrial production would improve in anticipation of a “deal” in the U.S.-China trade war. However, the Department of Labor also reported that 266,000 jobs have been added to the economy in November, bringing unemployment rate down to a historic low of 3.5%. A confusing situation has just been made more confusing. It has been said that generals are always fighting the last war. It’s not that different when it comes to fighting economic downturns. Since the global financial crisis a decade ago, we have been scouring the horizon for any signs of financial fragility, such as asset bubbles, that could plunge us into the next global recession. Despite mounting evidence of a weakening economy, there are no asset bubbles comparable to that of the pre-2008 period. And we won’t find any, even as we edge closer to the next recession. Since the last global financial crisis, the global economy has been reshaped by different forces, and the coming recession will be caused by factors totally different from those of the last one. First off, the global economy today is mired in uncertainty arising from the trade war, an enfeebled Europe, Brexit and rising geopolitical tensions. An even deeper source of uncertainty is that the liberal global economic order, in place since the 1950s, is dying. Two trends are converging to kill it. The first is the West’s declining economic dominance relative to the rest of the world, and China in particular. The second is the rise of populism in Western democracies, arguably the most serious challenge to the legitimacy of the liberal global order. And yet, even as the liberal global economic order fades away, it’s unclear what a post-liberal global economic order will look like. So for now, the global economy is like a barfly at closing time: it has no clue where it’s going, but it can’t stay here. Developed world economies have meanwhile been seriously weakened by prolonged zero interest rates, making them vulnerable to unexpected shocks. Extraordinarily low interest rates distort the price of money, arguably the single most important price signal in a market economy. They poison the business environment, allowing poorly run businesses to survive, jamming the gears of creative destruction that drive any economic renewal. The survival of poorly run businesses also suck profits from more successful businesses, sapping their ability to expand. Against this backdrop, any number of missteps could trigger chain reactions that push developed world economies into recession. But we should also be prepared for a potentially different kind of downturn. The accepted definition of a recession is two consecutive quarters of contraction in an economy.… Read More