Friday, December 18, 2020

Key indicators and Ireland's non-Covid economic challenges into 2021

Ruchir Sharma, the chief global strategist at Morgan Stanley Investment Management and the author of “The Ten Rules of Successful Nations,” wrote in The New York Times this December, "After World War II, only two major emerging economies managed to grow faster than 5% for five decades in a row and to rise from poverty into the ranks of developed economies. One was Taiwan, the other South Korea. They kept advancing up the industrial ladder by investing more heavily in research and development than did any of their rivals among emerging economies. Now they are among the research leaders of the developed economic world as well."

Tuesday, December 01, 2020

Ireland is most profitable foreign country for US multinationals

Ireland with a population of 5m was the most profitable foreign country for US multinationals in 2018 as measured by net income of majority-owned affiliates (MOFAs), followed by the Netherlands and Luxembourg.

The US Bureau of Economic Analysis' (BEA) final net income data for 2018 issued this year, show top rankings for countries that engage in tax haven activities and pure tax-havens. The top 7 — which are called The Big Seven Corporate Tax Havens— are Ireland $217bn; The Netherlands $211bn; Luxembourg $147bn; Singapore $96bn; Bermuda $85bn; Switzerland $83bn and The Cayman Islands about $65bn ( it's in a BEA category 'United Kingdom Islands, Caribbean' comprising the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands).