Tag: wealth distribution

Each industrial revolution has caused disruption, but it doesn't necessarily mean a net loss of jobs. While automation and artificial intelligence (AI) can eliminate jobs and industries, they also create new ones. AI has already improved our lives, especially in the service industry, by increasing efficiency and giving us more free time for tasks like booking flights or ordering food. However, these improvements are somewhat superficial.

China’s transition towards 'common prosperity' will create some short to medium-term headwinds to the growth in luxury goods sales, but these should be more than offset by long-term, structural growth in the sector driven by an expanding middle-income cohort in China.