Young Finnish professionals are attracted to major European capitals. They move to Stockholm, Berlin and Amsterdam, as well as farther away. The sun shines in Dubai; the world’s top organizations and institutes are in New York and Washington. The occupations of these migrants are manifold: bankers, graphic designers, computer engineers, photographers and researchers, to name only a few.
They leave Finland because of poor employment opportunities and future prospects. This has been happening for a long time. Finns were moving to North America 100 years ago and to Sweden after World War II — in both cases because growing economies needed factory workers.
The difference with today’s migrants is they are better educated (PDF) and leaving a welfare state that ranks as one of the best places to live in the world according to most indices. The likelihood of them returning has nevertheless fallen sharply. Why? Read more
Coal and Steel? Donald Trump Is Living in the Past
European and Japanese leaders have announced a landmark trade agreement on the eve of the G20 summit in Hamburg, Germany, where America’s president, Donald Trump, is expected to press his case for protectionism.
The treaty has yet to be finalized. A summit in Brussels was hastily arranged to “send a strong signal,” as the EU’s trade commissioner, Cecilia Malmström, put it earlier this week.
“We believe we should not build walls or raise protectionism,” she said. Read more
Merkel’s Plan Strong on Taxes and Spending, Disappointing on Migration
German chancellor Angela Merkel’s party promises long-overdue investments in its election manifesto, but a plan for attracting high-skilled migrants is unconvincing.
The Christian Democrats, who are projected to win the most votes in September’s election, pledge to sustain recent increases in spending on digitalization and infrastructure and raise spending on research and development from 3 to 3.5 percent of the economy.
German public investment has languished for years as the Christian Democrats prioritized deficit reduction. The Dutch and Swedes invest twice as much in everything from electricity grids to roads. Read more
NAFTA stands for the North American Free Trade Act, but President Donald Trump does not.
After campaigning on a promise to repeal the act, then adapting his position to that of merely supporting the act’s renegotiation, Trump recently announced that he would no longer tolerate the status quo arrangement for American imports of dairy and forestry products originating from Canada. Read more