THE WEEK IN NUMBERS
We’re collecting the numbers from the week’s biggest business news so you and your friends can impress.
Gather together people, it’s that time again. Many of you may meet with family and friends who you haven’t seen in a while since the pandemic was isolated, which means you need some fascinating facts to instill in all of these new conversations.
This week’s topics range from the Bitcoin revolution in El Salvador, to massive youth unemployment in Oman, to an increase in child labor around the world and a slowdown in birth rates in China. And who could forget the gold coin that broke records with sales of $ 18.9 million? Not exactly change!
So here’s our round-up of the week’s biggest numbers that are crucial to keeping your conversations with friends and loved ones interesting, worldly, and maybe even entertaining. Do you remember fun?
That’s how many users Bitcoin Beach, a pilot crypto project in the small Salvadoran beach town of El Zonte, has. And those numbers are likely to rise after the Central American nation’s president announced that he would be the first to use Bitcoin as legal tender this week.
Bitcoin Beach has educated the community on how to use digital currency in daily transactions, like Kaelyn Forde of Al Jazeera Reports, but there may be more to the Salvadoran President’s decision than meets the eye.
According to World Bank figures, this is the astonishing level of youth unemployment in Oman in 2019.
Young people took to the streets last month to call for more economic opportunity, just weeks after the country put austerity measures in place to offset Oman’s burgeoning debt. Sean Mathews from Al Jazeera writes that what is happening in Oman is likely to spread to other oil-dependent Gulf economies hit by the collapse in oil prices that began in the early days of the coronavirus pandemic.
Oddly enough, youth unemployment has skyrocketed in some regions, as has child labor – an increase that has not been seen in nearly two decades. A new report from the United Nations this week found that around 160 million children work worldwide – 8.4 million more in the last four years. The numbers are “a wake-up call,” said the head of the International Labor Organization.
Loss of work or income for parents or guardians and school closings have pushed millions of children into work, and the problem could worsen if governments fail to act.
China’s birth rate per woman has slowed to levels in 2020, despite Beijing easing its strict one-child policy and allowing families to have up to three children. But as Michael Standaert. by Al Jazeera Reports This week, unless the Chinese authorities make it easier for families to have children, the birth rate is likely to fluctuate at that level.
$ 11.2 billion
That’s how much trade is between Israel and China – a significant increase from the $ 1 billion trade level at the turn of the century. China is now just behind the United States as Israel’s largest trading partner. But the flourishing economic ties made matters diplomatically interesting, says Sean Mathews. by Al Jazeera Reports.
Israel has ignored China’s vocal support for Palestine, and Israeli leaders paid little attention to China’s response to the Gaza war over the past month, which an Israeli expert said is seen as “lip service” in Tel Aviv. But there are also some dangers. Israel may sacrifice its own security, as well as Washington’s unwavering support, in seeking closer ties with Beijing, writes Mathews.
$ 18.9 million
This is how much a gold coin costs in a Sotheby’s record breaking auction on Tuesday in New York. Well, not just any old coin. The 1933 Double Eagle is the last US gold coin to be minted for circulation. With a face value of US $ 20, it was designed at the request of then US President Theodore Roosevelt.
But all of the 1933 Double Eagles were wiped out when President Franklin Roosevelt removed the nation from the gold standard in an effort to rescue America’s troubled economy from the depths of the Great Depression. Only two survived to be sent to the Smithsonian – and one remained in private hands. With Liberty striding forward on one side and an American Eagle on the other, it’s certainly a beauty.