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Archive for the ‘economics’ category

Sep 20, 2016

Quantum chip keeps you guessing

Posted by in categories: computing, economics, finance, nanotechnology, quantum physics

Random numbers have become important in daily life, given how they are at the heart of e-commerce and secure communications and also form the basis of statistical methods of solving problems in engineering and economics. And yet, truly random numbers are difficult to generate. A series of seemingly random numbers can still show patterns, and this can lead to frauds in e-commerce or errors in computations. Carlos Abellani, Waldimar Amaya, David Domenech, Pascual Munoz, Jose Capmany, Stefano Longhi, Morgan W Michell and Valerio Pruneri from the Institutes of Science and Technology and the Institute of Research and Advanced Studies at Barcelona, Polytechnic University and the firm, VLC Photonica, at Valencia and the Institute of Photonics and Nanotechnology at Milan, describe in the Optical Society’s journal, Optica, a method of using quantum effects to generate truly random numbers with the help of a miniature device that can be embedded in a mobile phone. The operative quality of random numbers is that those in a series cannot be predicted from the preceding ones, nor even any of the digits that appear in them.

Once a random number has been exchanged by a pair of correspondents, they can base a code on this number and keep their exchanges confidential. Devices like computers, which handle e-commerce transactions, thus routinely generate hundreds of large random numbers. The numbers generated by a complex formula are based on a “seed” number to get started, and do pass many statistical tests of randomness. The numbers, however, are not truly random and if a third party should guess the “seed” that was used, he/she could work out the numbers and impersonate others in transactions. Real random numbers are created not by a formula but by physical processes, like the last digits of the number of grains in a handful of sand, the throw of honest dice or even the last digit of the daily stock market index.

Sep 20, 2016

China is more innovative than people think

Posted by in categories: business, economics, government

China has its sights to be the World’s SV.


Editor’s Note:

The New York Times business bestseller Start-Up Nation: The Story of Israel’s Economic Miracle which explores the roots of Israeli innovation has garnered global attention and won its co-authors Dan Senor and Saul Singer worldwide fame overnight. In a recent interview with Global Times reporter Zhang Ni (GT) in Beijing, Singer (S), who served as an adviser to the US House Foreign Affairs Committee before moving to Israel in 1994, said he believes China is more innovative than people think. He suggested that China is ahead of the US in some aspects, as Facebook is now trying to copy China’s WeChat.

Continue reading “China is more innovative than people think” »

Sep 20, 2016

Reinventing Prosperity | The Club of Rome

Posted by in categories: economics, education

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“The biggest challenges facing the rich world today are persistent unemployment, widening income inequality, and accelerating climate change. … In Reinventing Prosperity, Graeme Maxton and Jorgen Randers take a radically different approach and offer thirteen politically feasible proposals to improve our world.”

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Sep 19, 2016

Premier Li to endorse China’s stance on global governance

Posted by in categories: economics, governance

Hmmm; China stepping up their game on global governance.


Premier Li embarked on a very significant tour on the 18th of September. The tour comprises of visits to New York to attend the 71st session of the United Nations General Assembly and pay official visits to Canada and Cuba upon the invitations from the respective countries.

The 71st session of the UN General Assembly will be an important one. Every session of the UN General Assembly is an historic moment, but among other things the 71st session will be the last one attended by US President Barack Obama and UN Secretary-General Ban Ki-moon, as both are about to leave office. Thus, along with discussions of global matters, the assembled leaders will also bid farewell to two of the most famous and powerful leaders among them.

The UN General Assembly session is usually the biggest multilateral event of the calendar year, with most of the top world leaders in attendance. It makes it a perfect opportunity for leaders to meet each other on the side-lines to discuss matters and touch base on past, present and future agreements and understandings between countries. Being the Premier of the second largest economy in the world, Premier Li will most definitely have a very hectic few days in New York meeting his counterparts from other countries and streamlining and strengthening communications with them while attending various engagements at the UN headquarters. At the General Assembly session during the general debates, the premier will sketch out China’s stance on global governance and international order in front of other global leaders and he will highlight measures for coping with global challenges.

Sep 17, 2016

Limitless Travel Avatar

Posted by in categories: economics, transportation

As our worldwide transportation network becomes less and less able to support the demands of a global economy, more and more individuals and communities will either spend too much time on the road or become isolated.

Sep 12, 2016

China’s plan to step up to Silicon Valley

Posted by in categories: biological, economics, mobile phones, quantum physics

No surprise at all. My 13 year old nephew wants to be the next Steve Jobs. Along with learning Quantum & Biology, I will need to suggest that he should focus on China as a possible future.


China’s provincial city of Hangzhou is buzzing with tech activity, with officials aiming to open thousands of tech enterprises by the end of the decade. As Tara Joseph reports, the city is brimming with tech office parks and tech products, though truly innovative concepts are still missing.

They’re calling it Asia’s Silicon Valley In the city of Hangzhou about 100 miles south of Shanghai… you can order your dinner on your phone without a waitress… Or pay for a haircut with a quick swipe. …everyday signs of the start-ups that officials hope can one day drive the economy. (SOUNDBITE) (English) TARA JOSEPH, REUTERS CORRESPONDENT, SAYING: “Here its easy to run into people talking about building a new app — or planning a new tech venture — and every where you go in this city there are new office parks sprouting called tech zones and massive office blocks going up. The scale is absolutely mind boggling.” Hangzhou’s officials have a plan to open a thousand high tech enterprises… employing three HUNDRED thousand people by the end of the decade. It started here with tech giant Alibaba — now a multi-billion dollar company listed in New York led by rock star CEO Jack Ma. In its wake, a new wave of entrepreneurs have emerged — like Li Hongwei.

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Sep 11, 2016

Largest global innovation conference to kick off in Russia

Posted by in categories: business, economics

Moscow, Sep 11 (IANS) The announcement of the Russia-US ceasefire deal for Syria, paving the way for new negotiations on the latter’s future, comes ahead of a major global conference here next week under the auspices of the International Association of Science Parks and Areas of Innovation (IASP).

The Spain-headquartered IASP is the largest worldwide network of science parks and areas of innovation, uniting technology parks, business incubators and institutions, and it has a Special Consultative Status with the United Nations Economic and Social Council (ECOSOC).

Its mandate is to contribute to global economic development through innovation, entrepreneurship, and the transfer of knowledge and technology.

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Sep 10, 2016

Economic ties with China a key positive measure

Posted by in categories: business, economics

Saudi’s new friend.


Once termed by Napoleon Bonaparte as the “sleeping giant,” China has now woken up and is living up to his prophecy: “The giant sleeps, and let it, for should it wake the world will shake.” China has now woken up and is shaking the world.

For 500 years China did little. While it was rich in resources it was plundered by the European powers. After the Maoist revolution, it began a process of unification and then focused on production. Many experiments were made including the ill-fated “cultural revolution.” But the Chinese determination for achieving parity on a world scale paid off. In the initial growing process, they were described as the “yellow pencil” and what not, but they persevered. And it was American President Richard Nixon who had to go to China in 1972 to meet Chairman Mao Zedong and establish relations that admitted China to the world stage.

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Sep 10, 2016

New Era of Flight: “Green” NASA Research Could Potentially Save Airlines Billions

Posted by in categories: computing, economics, transportation

NASA researchers reveal how today’s airlines can save over $250 billion by incorporating their green related technologies.

Green-related technologies developed by NASA could be the key to airlines saving over $250 billion dollars. “If these technologies start finding their way into the airline fleet, our computer models show the economic impact could amount to $255 billion in operational savings between 2025 and 2050,” said Jaiwon Shin, NASA’s associate administrator for aeronautics research, in a recent press release.

For the past six years, NASA’s aeronautics researchers have been working on the Environmentally Responsible Aviation (ERA) project, which sees airlines cutting fuel use in half, pollution by a quarter, and putting noise down to just an eighth of today’s current levels.

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Sep 8, 2016

Growing up in Generation AI

Posted by in categories: computing, economics, robotics/AI

Imagine a five-year-old watching Mum talking to Siri, and Dad talking to Alexa, on a daily basis — what must she think of such interactions? Children nowadays witness computers that seem like they have a mind of their own — and even a personality with which to engage. It can be taken for granted that their perception of machines, and thus of the world itself, differs a lot from our own.

Artificial intelligence is one of the most promising areas of tech today, if not even the one that is likely to entail the most striking changes in our way of living, the way our economy works and how society functions. Thanks to enormous amounts of data, coupled with compute power to analyze it, technology companies are making strides in AI that resembles something of a gold rush.

New approaches, including use of deep neural networks, have led to groundbreaking achievements in AI, some of which weren’t predicted to happen for another decade. Google defeating the world champion at the ancient game of Go is just one prominent example. Many more are to be expected, including advances in deep learning combined with reasoning and planning — or even emulating creativity and artwork.

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