A new OECD report reveals a record surge in legal migration to wealthy nations in 2023, driven by labor demand and fueled by economic benefits. However, rising voter concerns about asylum seekers and housing pressures are leading some countries to tighten immigration policies, creating a complex interplay between economic necessity and political anxieties.
US Treasury Secretary Janet Yellen expressed concerns over India’s refusal to engage in negotiations regarding Pillar 1 of the OECD corporate tax agreement. Pillar 1 aims to redistribute taxing authority over multinational digital giants, potentially allowing $200 billion in corporate profits to be taxed in the countries where these companies operate. Yellen highlighted that the US has two “red line” issues related to transfer pricing and the “Amount B” system, but India has declined to participate in discussions on these matters. The breakdown of the Pillar 1 negotiations could lead to the reinstatement of digital services taxes in some countries, escalating trade tensions.
South Korea, despite its economic growth, faces a concerning issue of high suicide rates. In 2022, the country topped the Organization for Economic Cooperation and Development (OECD) in terms of suicide rates, with 25.2 per 100,000 people ending their lives. The reasons behind this alarming trend are multifaceted, including societal pressures, economic struggles, and cultural norms that emphasize success at a high cost. The government has implemented measures to address the crisis, including a five-year plan to prevent suicides and initiatives to provide mental health support to vulnerable groups.
