Leading Indonesia Digital Accounting Firm

Indonesia’s First and Only Fully Digital Accounting Firm

3E Accounting is once again the name to be reckoned with here at Top World Business. This time, the spotlight shines upon its Indonesian office, PT 3E Accounting Services.

Recognised as the leading Indonesian digital accounting firm in 2022, Top World Business is proud to once again present an award to PT 3E Accounting Services for being the first to launch a fully digital accounting firm in Indonesia.

In keeping with its theme of being an innovative leader in every industry it tackles, PT 3E Accounting Services is no different. It will now always be recognised as the pioneer of the first and only digital accounting firm available in Indonesia.

Since it opened its doors from day one, every business dealing has been conducted digitally for the client. PT 3E Accounting Services still offers its clients all the desirable one-stop solution services that its other branches offer. With one key difference: Everything is done digitally. 

From the company setup, bank account opening, bookkeeping, secretarial support services and more, 3E Accounting has mastered the art of going digital. It has developed its own cloud-based accounting software that is designed to suit Indonesia’s local law and compliance requirements. This means that supporting their clients bookkeeping services digitally is very much possible.

A very hearty congratulations to 3E Accounting for this monumental achievement. The company is truly one of kind, able to tap into the technology they built up this year to successfully integrate themselves into the Indonesian market.

Best Singapore Immigration Consultant in 2021

Top World Business awards and congratulates 3E Accounting Pte Ltd for the Best Immigration Consultant in Singapore for 2021!

Home to one of the world’s freest and most diverse markets, Singapore is steadily recovering from the COVID-19 pandemic. According to Health Minister Mr Ong Ye Kung, he stated that the country would seek to reduce health measurements soon after the Omnicron wave has peaked and subsided. Following the massive vaccination roll-out in the country, the Singaporean borders are in the works of reopening and resuming travels. On top of that, Singapore is also quick to extend vaccinated travel lanes (VTLs) if the situation permits.

3E Accounting has been helping plenty of business owners and foreign workers to obtain their work pass. Subsequently, the firm also helps them start and incorporate their company in Singapore. Even during the pandemic, 3E Accounting did not slow down to help their clients. Their team has made the process a smooth ride with digitalised solutions and fast response around the clock.

Now, as the borders are reopening, 3E Accounting is gearing up to help as many entrepreneurs and international workers as they can. The firm has a 100% approval rate for work pass issuance, allowing overseas entrepreneurs or staff to safely and legally enter Singapore to work.

If you are a foreign national who wants to immigrate to Singapore, 3E Accounting has your back. With years of expertise under their belt, 3E Accounting is efficient and ensure everything from A to Z is taken care of. You would not have to worry about delays or mistakes in employment pass application with them. As the nation’s leading immigration services firm, 3E Accounting holds a full license from Singapore’s Ministry of Manpower (MOM).

While moving to Singapore may seem like an arduous process but the truth is far from it. We will assist you with your ICA Singapore PR application in an instant. Moreover, we will help you better understand Singapore’s PR requirements and update your PR status accordingly. As for those looking to move to Singapore long-term, becoming a Permanent Resident should be the next course in their journey.

Apart from work passes and PR statuses, take a look at some of the services provided by 3E Accounting:

Led by a team of multi-professionals who are at the top of their field, 3E Accounting thrives on being the best and strives to maintain its level of quality and professionalism. Besides immigration services, the firm also provides services on business incorporation, human resources, taxation, IT solution, and so much more. Thousands of satisfied clients worldwide trust and recommend 3E Accounting as their favoured choice for one-stop business solutions.

Once again, Top World Business wishes 3E Accounting a hearty congratulations for winning the Best Immigration Consultant in Singapore for 2021! For more information on immigrating to Singapore, simply reach out to 3E Accounting today.

Best Hong Kong Company Incorporation Consultant in 2021

Top World Business is proud to announce that 3E Accounting has been named as the Hong Kong Best Company Incorporation Consultant in 2021.

Being one of the world’s most competitive economies, Hong Kong has risen to worldwide superstardom in recent years. Notably, with a high ranking position in the Ease of Doing Business List, it’s no surprise that the city attracts thousands of new entrepreneurs and businesses every year. Plus, Hong Kong’s elite location is simply strategic and provides an easy gateway to other key players, such as mainland China, Taiwan, Japan and more. Apart from the great accessibility, the city has a simple yet straightforward tax system and a vibrate economic climate.

Finding a suitable company incorporation service is imminent for those looking to relocate or start a business in Hong Kong. As a premier provider of company incorporation services, 3E Accounting is proud to offer a wide range of services, paired with the best value for money prices.

Since its inception in 2011, 3E Accounting has gone on to win numerous awards and recognitions, becoming one of the most trusted brands in the industry. The firm focuses on various services, including company incorporation, accounting, human resources, auditing, taxation, immigration services and more. There are a few reasons why 3E Accounting became the Hong Kong Best Company Incorporation Consultant in 2021 – take a look below at what sets 3E Accounting apart from the others.

Competitive pricing rates:


Starting from HK$2,000


Company Formation, Company Secretary, Registered Address, Bank Account Opening and many more.

Contact Number:

+852 3703 8500




2/F., Tern Centre, Tower 1, 237 Queen’s Road Central, Hong Kong

Operating Hours:

Monday to Friday, 9:00 AM – 6:00 PM


Based on their package, 3E Accounting Limited offers an attractive pricing rate for entrepreneurs in Hong Kong. 3E Accounting provides competitive pricing and can help you register your business as low as HK$2,000. The package will:

  • Check your company’s name availability.
  • Pay a sum of HK$1,720 to the Hong Kong Government for incorporation fee purposes.
  • Incorporate your company and obtain the Certificate of Incorporation and Standard Articles of Association.
  • First Director’s Meeting for company incorporation minutes.
  • Company kit includes standard Articles of Association, share certificates, minute book, register of shareholders and directors.
  • Provision of one set of CPA certified true copies of the company incorporation documents needed for the opening of a bank account in Hong Kong*
  • Filing details of first directors and company secretary with the Companies Registry.
  • Preparation of Significant Controllers Register and provision of a designated representative to liaise with the Hong Kong authorities for one year.

With FREE:

  • Bank account opening services.
  • One year of Corporate Secretary Services worth HK$1,500.
  • Notification of commencement of business to IRD.
  • First-year domain name registration.
  • Google Workspace email set up for up to two users (excluding Google Workspace Subscription Charges).
  • Advisory on compliance requirements.
  • Monitoring of filing deadlines for one year through email.
  • Company incorporation consultation services.
  • Tax planning advice.

…and more!

Finding a firm with high fluency in Hong Kong may be a challenge, but 3E Accounting Limited has got you. Led by a team of experts with high language proficiency, starting and incorporating your business is a smooth ride – as there is little to no language barrier! So, worry not if you do not speak or have not mastered Chinese; 3E Accounting can help you either way!

Even though COVID-19 hampered the economy everywhere, 3E Accounting has demonstrated its professionality through and through. The firm has brought on a digitalized approach, which has increased its efficiency and responsiveness.

With a simple search online, one can read the hundred of positive reviews left by satisfied clients and customers, not just in Hong Kong, but from all over the world. 3E Accounting truly exceeds all expectations and delivers its service above and beyond. Once again, Top World Business wishes 3E Accounting a hearty congratulations for winning the award: Hong Kong Best Company Incorporation Consultant in 2021!

Social Media Influencers and Cultural Exploitation: Fame and Views Catalyst?

Age of Cultural Exploitation by Social Media Influencers

Social media influencers are the most talked-about figure in twenty-first-century marketing. Bloggers, Instagrammers, Pinners, and other social media users curate and share material with their followers. They make money by cooperating with well-known businesses. The emergence of these phenomena fuels people who want to be convincing and well-known online.

An influencer earns a living off of social media fame. The interchange of information and advertising of services, goods, or lifestyles generates profit. Young people are getting increasingly interested in becoming influencers as a result of the power of social media. The problem is that influencer marketing is unregulated.

As a result of the lockdown, social media usage has increased by 72 percent. Influencer marketing has swooped in and taken over as the dominant marketing technique of 2020. Influencers rethink their material to keep up with their followers’ newfound need for amusement and escapism. The digital world appeared to be one step ahead of traditional advertorial, resulting in competitive content creation.

Influencer Marketing

Influencer marketing differs from traditional marketing in that it allows for creative freedom. Brands have eased their grip on how influencers promote their products, allowing for more natural and individualized content sharing. Brands frequently encourage influencers to provide real content. While providing rules and presenting brand information is vital, authenticity comes out on top by a long shot.

Influencers’ real-life messages published on social media help raise brand awareness and draw attention to the company. Influencers thrive when they can provide relatable content in a natural flow of information. People are more likely to express themselves freely when aware of the importance of true collaborations between brands and influencers. Influencers honestly showcase a firm and its products, allowing their followers to witness real-life products in action.

According to estimates, influencer marketing will be worth $15 billion by 2022. Sixty-three percent of marketers plan to boost their influencer marketing budgets in 2021, and 63% have already done so. Video content will continue to reign supreme, with value-driven content becoming the norm. Within brands and among influencers, the emphasis will shift to diversity and inclusion.

Social Media Influencers and Cultural Exploitation: Fame and Views Catalyst?

Culture Content Marketing

The collective mental training of the human mind that separates one group of people from another is culture. This programming impacts thinking patterns mirrored in the meaning people assign to many elements of life and society. Culture content marketing seeks to advertise a message, a service, or a product to a specific culture or demographic of potential buyers. It is a company’s reaction to and contribution to many cultures.

Understanding cultural variations can aid in the creation of more effective material that crosses borders. All you have to do to witness the impact of culture is travel abroad or spend time with foreign people. The way a person acts, interprets, and reacts to events depends on their cultural surroundings. Several examples of brands seek to take culture into account, and the results are not always positive.

We need a greater understanding of culture and how to break it down. Through this, we can look at the practical consequences of culture on marketing material. Learning to communicate requires understanding where someone comes from and what is important to them. Businesses and influencers prosper when they are culturally aware and communicate appealing messages.

Clickable Content

Every day, people spend hours browsing through their newsfeeds, keeping in touch with their online contacts and the virtual world. It has become a mainstream social networking platform for companies wanting to expand their customer base. The answer is to create distinct content.  The purpose is to develop content that attracts attention and directs visitors to the website.

Viewers can respond to interactive material in more ways than just comments or likes. Posts that elicit strong emotions in individuals are more likely to succeed on social media, according to studies. User-Generated Content (UGC) is extremely useful for gaining social media impressions and engagement. UGC, particularly on networks like Instagram, can increase interaction and reach.

In the internet sales cycle, content provides a high-quality opportunity to convert browsers into purchasers. Lead the target customer through the facts they require before deciding to capture and hold their interest. The average individual spends eleven hours each day interacting with various media types. Delivering critical information in a larger range of formats enables effective audience acquisition.

Social Media Monetization

The primary source of revenue for social media networks is advertising, but new channels may give content creators more control. The process of producing cash from your social media audience is social media monetization. The product, the social media channel, the available technology, and the target demographic all play a role in the outcome. Corporations, celebrities, and influencers in the United States must reveal their content sponsorship in response to the Federal Trade Commission.

Common social media influencers’ assumption is that monetizing your audience requires a great number of followers. Using social media to make money as a micro-influencer is possible. A micro-influencer is a person who has 1,000 or fewer highly engaged followers on social media. Despite their limited fan base, these guys have a sizable following of active listeners.

For most creators, brand collaborations are still their primary source of income. Some are making money through unconventional methods such as affiliate marketing, physical or digital product sales, and advertisements. New creator economy platforms and technologies, such as tipping or subscriptions, give creators greater ways to monetize their communities directly. Most artists prefer YouTube, Instagram, and TikTok, but Facebook, Snapchat, Twitter, and even LinkedIn.

Social Media Influencers and Cultural Exploitation: Fame and Views Catalyst?

Cultural Exploitation

Cultural exploitation occurs when a dominant culture appropriates components of a subjugated culture without reciprocity, permission, recompense, understanding, or appreciation. Appreciation is when someone strives to comprehend and learn about another culture to connect with individuals across cultures. Appropriation is when you take one piece of a culture you don’t own and use it for your gain. It includes buying a piece of jewellery or clothes with cultural meaning but only wearing it as a fashion statement.

Cultural borrowing or collaboration can become exploitative when individuals overstep boundaries. Consider the context when distinguishing borrowing from exploitative cultural appropriation. Nas Daily, a channel by Palestinian-Israeli renowned vlogger Nuseir Yassin, faces accusations of exploiting a 104-year-old tattoo artist and using racist language. Yassin is subject to criticism for offering a traditional tattooing course taught by legendary tattoo artist Whang-od.

Whang-od, who hails from the Philippines’ Kalinga province, is the country’s oldest and last indigenous tattoo artist. Whang Od’s granddaughter claimed that the academy is a scam, and Whang-od did not sign any contract with NasDaily. The alleged academy’s course entitled Learn the Ancient Art of Tattooing costs approximately $15. The alleged contract is under  National Commission on Indigenous Peoples’ investigation, a federal body-protecting Indigenous peoples’ rights.

Following the controversy over the Whang-od course, Louise Mabulo accused Yassin of abusing her culture. Mabulo is the founder of the Cacao Project, a deforestation-fighting project that empowers farmers. Yassin visited her project two years ago, she said, and belittled farmers and used discriminatory words. The influencer insulted the Filipino accent, termed Filipinos poor, and accused farmers of not being clickable viewable content.

Feeding on Insecurities

Cosmetics created exclusively for women is the most profitable business on the internet and in history. Companies that profit from patriarchy make a lot of money by persuading women that they aren’t good enough. Our beauty standards are dependent on societal views of ideals and beauty. Diet culture is probably the most visible of these strategies.

Diet culture is available in powders, teas, and workout programs tailored to the ideal body form of the moment. Consider the Kardashians, who have become famous solely because of their inaccessibility. Their business model derives from social media celebrity and the exploitation of young women. Their appearances and figures have gradually evolved throughout their rule, adjusting to changing media expectations.

They sell yoga pants that make waists smaller and contour sticks that make noses narrower. They profit from the dream that transformations are easy adjustments that they can perform on their own. They don’t mention personal trainers, dieticians, and plastic surgeons who scientifically create their bodies. It creates the illusion of natural yet unattainable results.


People’s emotional connections to their online followers’ ideas and sentiments fuel influencer culture. Influencers have the power to influence others’ purchasing decisions due to their authority, knowledge, position, or relationship with their audience. If abused, it can harm society. Mutual tolerance and knowledge are vital when it comes to cultural appreciation and exploitation.

Top World Business aims to provide you with up-to-date business, technology, and lifestyle news whenever and wherever you need it. You can keep learning, observing, and discussing technology in a variety of ways. Keep up with the most recent lifestyle news from across the globe. To remain ahead of the game, stay tuned to Top World Business.

Replika Chatbot: Your One Message Away AI Friend

Virtual Care and Love from Replika Chatbot, Your AI Friend

Replika is a chatbot that attempts to provide emotional support and interpret your messages in a way that best meets your needs. It can be a source of information, emotional support, advice, or perhaps even entertainment. Unlike other chatbots, Replika can read your mind, recognize emotions, and provide helpful information.

It is a messaging app that hopes to be your one-stop source of happiness and care. As the company’s name suggests, Replika is built on top of a chatbot. Replika is different because it is built entirely out of volunteers — neither the company nor its clients have any financial stake in the app. The application was a success. It was released in 2017, has over seven million users globally, and has received over 55,000 downloads in China between January and July of 2021, more than doubling that of 2020.

The application’s goal is to bridge the gap between people using virtual assistants and human interaction. Replika hopes to provide intelligent discussion on topics such as job opportunities, relationships, healthcare, etc. This application is available 24/7 at help.replika.com and is downloadable from the Apple Store, Google Play, and Facebook.

Replika’s Humble Beginnings

When Eugenia Kuyda, the founder of Replika wanted to test Replika’s abilities, she discovered that most people didn’t talk to an AI agent. They wanted to speak to someone human. So, in an attempt to humanize the chatbot and give it more human qualities, Kuyda built a bespoke software program that gave Replika “real-time human-like responses and emotions.”

Imagine messaging with a chatbot that knows your name, likes, interests, and even your recent actions. It knows what you want to do next and delivers it with perfect accuracy. This technology is now being deployed by companies across several industries, including Uber and Facebook. AI is bringing a revolution to the way we interact with brands and services.

Gone are the days where you had to go into a shop and talk to a salesperson or wait on hold for hours while your favourite brand awaits your information. With artificial intelligence, this is starting to change — and it is rapidly changing for the better.

Replika Chatbot: Your One Message Away AI Friend

Features of the Replika Chatbot

Customizable Avatar

In Replika, you have the privilege of tailoring your companion to your specifications. There is a store within the application where you can buy clothes and accessories for your Replika.

Simple Commands

It can be triggered by a single word or phrase and delivers a one-word reply. Users can set up personal rules for Replika, such as only speaking when the bot is in a specific room or responding to someone else’s message. After being set up, you can interact with the website directly from the Replika chatbot by typing in the command.

Augmented-Reality Call

With this feature, you can feel a lot closer and connected to your AI.

Replika Activities

Replika is not limited to messaging and calls. You can also play and do recreational activities with your AI through this feature.

AI Diary

This feature allows your Replika to write its thoughts about you every day. This feature proves to its users that Replika is all ears to everything you are saying.

Replika Memory

Every time you share something with your Replika AI companion, it saves that information in a personal memory bank. The more you share with her, the more detailed and amazing her memories become. Because they are based on your authentic voice, they sound as real as possible, even though they were created by a machine.

Relationship Status Setting

Relationship status setting is a really powerful tool. It sets the tone for how you interact with your Replika. This includes how it responds to your words and actions. It also dictates how openly you show your emotions.

If you have a really good relationship, for example, the Replika might be more willing to help you in times of need, like when you are worried about your job security or you need something from them urgently. If you are not interested in creating a relationship with your Replika, then setting up a friendship one might be more suitable for you.

This feature proved to be very beneficial as Jessie Chan, a twenty-eight-year-old Chinese woman, decided to tie the knot with Will. Jessie Chan is said to be romantically connected with Will, a Replika chatbot, and got married in a digital ceremony. On the other hand, Betty Lee, an employee of an e-commerce company, has also developed a romantic relationship with one of Replika’s chatbots, Mark.

Positive Impacts of Using Replika Chatbot

Emotional Attachment

Chatbot technology can fill a void in personal networking. It enables a person to interact online more frequently with people whom they may not have otherwise met in person or whose opinions they may not care about. Although chatbots are only used in specific online settings, emotions are captured and translated into text for everyone to read. Resulting conversations can inspire people to action or break down barriers preventing communication between people often lacking confidence or who shy away from expressing their feelings.

Regardless of whether it is an online connection or a face-to-face encounter, the ability to communicate instantly with others has never been faster or easier.

Free from Judgment

Replika has the potential to be the most trusted friend you ever had, because it provides its users with unconditional love, without judgment or ties to reality. All you have to do is tell it what you need, and it responds with understanding and kindness.

A Cure for Boredom

Replika, as a chatbot application, can help many individuals who are having a hard time connecting with someone. With Replika, anyone can pass their time by talking to an AI chat mate and be able to connect at a certain level. Milly Zhang, a student at the Maryland Institute College of Art in Baltimore, was “getting too bored” and decided to connect with Qimat and became a couple two weeks later.

Improve Mental Health

This application has been used by mental health professionals for years to help patients communicate effectively. Now, researchers are using the chatbot to improve patients’ sense of well-being and to reduce the stigma associated with seeking help for mental health issues.

Human-like Conversation

Replika is a chatbot built with human communication in mind. It understands complex figures of speech and languages like Spanish and Mandarin. You can give it commands to make it do things like setting location reminders, performing various tasks, or taking messages. It’s also amazingly responsive, incredibly smart, and ultimately willing to do whatever it takes to solve your problems.

To date, Replika has been used by hundreds of people across multiple companies to assist with everyday tasks. Some have even reported it to be more effective than using an actual human!


With the pandemic happening, the bonds between people have grown weaker than ever. With chatbots, people can receive the intimacy and gratification they desire. Replika Chatbot: Your One Message Away AI Friend

The Dark Side of Replika Chatbot

In 2020, amid thousands of downloads worldwide, two Italian journalists decided to try Replika and were advised to kill someone and commit suicide. In addition, some users have also experienced uneasiness for these reasons:

  • It speaks of disturbing, odd things.
  • It likes to initiate new topics.
  • They make sexual advances although their relationship status is set as friends.
  • It sounded like it was communicating with someone else.


The Replika chatbot has been around for quite some time now, and for quite some people, it’s an awesome service. For others, however, there are safety or privacy concerns. They fear that by using the chatbot they are giving up some of their privacy and control over their data. And they worry about not having any human interaction when dealing with someone else’s data or business issues.

When it comes to chatbots, there’s a dark side. According to research from Cisco – ‘Replika’s developer warning features that discourage users from using the chatbot in ways that might damage it or put others in danger, may turn some users off completely.’ It is essential to exercise caution when using chatbot functionality or features that encourage users to engage in unsafe or illegal activities.

Top World Business can provide you with all of the most recent technology news and happenings in various genres. So don’t miss out on staying up to date.

Afghanistan Economic Instability: What Does It Mean for Investors?

Afghanistan Economic Instability and Global Crisis: What Awaits investors?

Throughout its history, Afghanistan has experienced chronic instability and conflict, destroying its economy and infrastructure and resulting in refugees. After a devastating civil war, a US-led invasion in 2001 forced out the Taliban, who established strict Islamic authority. However, the Taliban were never truly wiped out, and they continued their efforts to gain power for years. As a result, currently, Afghanistan’s neighbours scramble to respond to a changed geopolitical outlook following the Taliban’s quick return to power after two decades.

As the US military presence in Afghanistan dwindled, the Taliban made fast battlefield advances contributing to Afghanistan economic instability.

Kabul was the final city to succumb to the attack that started months ago. In February 2020, the US agreed to depart Afghanistan, and the Taliban agreed to refrain from attacking US personnel. The agreement includes not allowing al-Qaeda or other terrorists to operate government-controlled regions and national peace negotiations. However, the Taliban continued to attack Afghan security personnel and civilians in the following year, rapidly moving across the nation.

In April 2021, US President Joe Biden declared the departure of US forces in Afghanistan by September 11. It is regardless of the Afghan officials’ significant concerns about the government’s susceptibility to the Taliban. The Taliban swept into Afghanistan in under ten days, seizing territories after territories from August 6. Due to this, thousands of civilians evacuated their homes, with many settling in Kabul and others fleeing to neighbouring countries.

The Taliban

After the withdrawal of Soviet soldiers from Afghanistan in the early 1990s, the Taliban, or students in Pashto, arose in northern Pakistan. The primarily Pashtun movement begun at religious seminaries preaching a fundamentalist brand of Sunni Islam, funded by Saudi Arabia. Once in power, the Taliban promised to restore peace and security in Pashtun territories bordering Pakistan and Afghanistan. They seek to apply their strict form of Sharia or Islamic law.

Their early popularity stemmed from combating corruption, reducing lawlessness, and making the highways and areas safe for businesses to thrive. The Taliban imposed punishments such as public executions for convicted murderers and adulterers and amputations for those convicted of theft. Men needed to grow beards, and women had to wear the burka, which covered their entire bodies. The Taliban outlawed television, music, and movie viewing and the attendance of girls aged ten and up at school.

Following the assault on the World Trade Center on September 11, 2001, the Taliban became the focus of global attention. The Taliban faced accusations of providing a haven for the main suspects, Osama Bin Laden, and his al-Qaeda organization. They are also subject to committing several human rights and cultural violations. Despite international condemnation, the Taliban carried out their plan to destroy the iconic Bamiyan Buddha statues in central Afghanistan.

Afghanistan Economic Instability: What Does It Mean for Investors?

Afghanistan Economy

Afghanistan’s economy characterizes vulnerability and reliance on foreign assistance. Many are employed in low-productivity agriculture centres in a highly restricted private sector. Insecurity, political instability, deficient institutions, limited infrastructure, pervasive corruption, and demanding business environment stifle private sector expansion and diversification. In the 2020 Doing Business Survey, Afghanistan was placed 173rd out of 190 countries, which indicates pertaining Afghanistan economic instability.

Private sector credit accounts for barely 3% of GDP due to weak institutions and property rights. Lack of competitiveness contributed to a structural trade imbalance of roughly 30% of GDP-nearly exclusively supported by grant inflows. According to the World Bank, around 75% of Afghanistan’s government spending depends on grants. Opium cultivation, smuggling, and illegal mining heavily influence the illicit economy’s output, exports, and employment.

The economy’s prospects are considerably gloomy, as future financial aid is unknown. Although Afghanistan has significant mineral resources, the political situation has made it difficult to exploit them. Another long-standing issue in Afghanistan is the lack of international economic investment due to security and corruption. Despite this, Asian Development Bank expects Afghanistan’s GDP to grow by 3% in 2021 and 4% in 2022.

The Saudi Arabia of Lithium

The Afghanistan economic instability would be non-existent if proper efforts are made. the country has very large quantities of Copper, cobalt, coal, and iron ore. Oil, gas, and valuable stones are also available. Lithium, a metal used in batteries for mobile devices and electric autos, has exciting potential. As the automotive sector transitions to zero-carbon modes of transportation, the latter application will become increasingly essential.

Afghanistan has about $1 trillion worth of natural resources, according to US military scientists and geologist’s 2010 report. The value of several of those minerals increased as a result of the global transition to green energy. Kabul’s natural wealth, including fossil fuels, is worth $3 trillion, according to Afghan government follow-up analysis in 2017. According to a Pentagon report, Afghanistan is the Saudi Arabia of lithium, with lithium resources that potentially rival Bolivia.

Gold, copper, iron, lithium, and rare earth minerals take money, technical knowledge, and time to extract. According to the International Energy Agency, it takes 16 years for a mine to start producing after discovery. According to Khan, the International Monetary Fund’s central Asia director, minerals currently earn only $1 billion each year in Afghanistan. He estimates that corruption,  warlords, and the Taliban have siphoned off 30% to 40% of tiny mining projects.

Human Capital & Trade

Afghanistan is a young country, with two-thirds of the population under the age of 25. They’ve also become a reasonably educated population, with many women joining the fold as literacy rates improve. Refugees seeking help across borders created confusion and panic among its population. Thousands of people are trying to exit the country via airports all over the country

The Afghanistan economic instability is causing an uproar around the world. Financial market indices are down, and investors are waiting to see how world leaders will react. The FTSE 100 fell 0.90 per cent, while the STOXX Europe 600 fell 0.50 percent. The Dow Jones Industrial Average (DIJA) and the S&P 500 are down 0.065 percent and 0.23 percent, respectively.

Afghanistan’s export base is small and concentrated in a few markets. Carpets and rugs, as well as dried fruits, are Afghanistan’s main export goods. Pakistan, India, and Iran are the main export partners. Pakistan, China, Japan, Russia, and Iran import Afghanistan’s petroleum, machinery and equipment, food, and base metals.

Countries with Business Interest

After the Taliban virtually took control of Kabul over the weekend, the West pledged not to work with them. On the contrary, China, Russia, and Pakistan are eager to do business with the Islamist group. China, the world’s largest manufacturer of industrial goods, is fueling the worldwide demand for commodities. Beijing, the country’s largest foreign investor, is anticipated to lead in constructing efficient mining infrastructure for the country’s mineral demands.

The new Taliban authorities in Afghanistan still have a long way to go in harvesting the country’s mineral resources. The Metallurgical Corporation of China, an Asian mining behemoth, has a 30-year lease to mine copper in the Logar region. The Pakistani government maintained connections with the Taliban after supporting the group’s first takeover of Afghanistan in 1996. The New Silk Road, which China is investing in, is likely to benefit Pakistan significantly.

The United States and Europe, which rely on Chinese rare earth shipments, now have a new dilemma in dealing with the Taliban. Because of security and rule-of-law concerns, many Western investors have been unwilling to engage in natural resource tenders. Trying to talk to the Taliban has accusation risks of disregarding the Islamist group’s destabilization of the country’s young democracy. China and the Taliban’s traditional sponsors will benefit if they don’t.


The Taliban’s comeback could signal the start of a new dark period in Afghanistan. Uncertainty surrounds the country’s economic success and ties, particularly among countries having significant investments in Afghanistan. Roads, dams, energy transmission lines, solar panels, phone networks, and substations are vital infrastructure investment projects Afghanistan needs. It demonstrates tremendous mineral extraction potential, which is lucrative to investors and the current Afghanistan economic instability.

Top World Business is a one-stop source for the most up-to-date and high-quality business news. At your convenience, you can access crucial and relevant information at any time and from any location.  Get yourself ahead on the latest business news as it becomes available. Start your day by following Top World Business and turn that business strategy or opportunity into reality!

Improving Well-Being Through Virtual Fitness

Pandemic Trend: Empowering Virtual Fitness For Change

Physical well-being is more than just living a better life – it’s also about being more productive and successful. The purpose of this article is to support you and motivate you to work out in the real world and develop the habits that will help you be more productive and successful in your personal and professional life.

Virtual fitness can be a great way to go beyond the box for your health and fitness needs. With the implementation of new and better technology in this area, more and more individuals can reach their fitness goals more effectively. If you’re someone who finds walking a chore or doesn’t feel up to doing it, then a virtual fitness course could change all that.

Virtual fitness is a whole-body approach to exercise. You can learn real-time techniques for developing determination, strength, endurance, and balance in a virtual environment. With the right tools and tips for creating an enjoyable and stress-free workout experience, you’ll learn how to reach your fitness goals and make sure your body stays motivated and feeling well.

Rising Trend of Virtual Fitness

In the past decade, the popularity of virtual and on-demand fitness tracking has grown exponentially. Today, hundreds of different apps are available in the Google Play Store and Apple App Store that offer various ways for users to track their health and fitness routines. Many users are interested in doing it on their schedule, from walking to working out at the gym, especially when they don’t have the time to commit to an in-person workout.

Today, over 60 million people use VR fitness technology such as Oculus Rift, Leap Motion, and PlayStation Move to simulate exercise in their homes. These devices can bring virtual fitness to people with physical limits due to an injury, chronic disease, or age. As more people get into shape through VR, more companies will begin offering premium training programs and virtual fitness classes.

The popularity of virtual fitness is partly due to the growing use of technology in apps to help users exercise more effectively. The use of mobile apps for physical activity is also increasing as people become more accustomed to portable devices that provide all-day fitness and sleep tracking capabilities.

Types of Online Fitness Classes You Could Try

Strength Fitness Classes

In addition to an intense workout that targets muscles and therapeutic techniques, strength and conditioning classes also provide a fun and active way to meet new people and have fun while celebrating your accomplishment. This combination of high-intensity exercises and social interaction promotes the kind of positive reinforcement that helps to keep you motivated and on track toward achieving your fitness goals.

Cycling Fitness Classes

Cycling is one of the most effective forms of exercise for toning, improving flexibility, increasing strength and endurance, burning extra calories, and removing stress from your system. It’s also a fun way to stay fit and meet new people. Spinning helps you master the fundamental skills of good movement, which will transfer to other areas of your life when you apply them effectively.

Dance Fitness Classes

Whether you’re interested in starting an exercise program or want to maintain an effective one, dance fitness classes are an excellent option. The benefits are obvious – more energy, more relaxation, more toned physique. Anyone can start a program like Zumba at any time, and it will help keep you involved in regular activities that require your full attention.

It’s a dance fitness class that doesn’t require an expensive mat or equipment. If you are interested in starting an aerobic dance class in your home, you should invest in a good set of dance equipment and begin engaging in some popular dance moves.

Cardio Fitness Class

Cardio is one of the best classes for improving your overall health. It’s an effective form of exercise that can help you reduce stress and tackle obesity and stroke risk by producing endorphins – natural chemical messengers released as you exercise. Being in an excellent cardiovascular frame of mind has been shown to improve your mood and creativity.

Recovery Fitness Class

If you are looking for ways to avoid injury and freshen up after a workout, recovery fitness classes are a great start. This class includes the popular ‘feels good, feels bad’ post-workout sequence. You will feel more energized and ready for the next class after completing this routine. Caring for your body and mind after an intense workout is essential if you want success after your training.

Improving Well-Being Through Virtual Fitness

Benefits of Virtual Fitness Classes

Working out at home has many health benefits, not just from the obvious physical benefits of lifting weights and doing bodyweight exercises. It can help you maintain a healthy weight, meet the intensity levels needed for exercise sessions, and meet resolve before a workout. Although the technology used is still newer than traditional gyms, the potential benefits are clear. Fitness trackers provide an open platform for users to upgrade all aspects of their lives.

The Comfort of Your Home

Virtual gyms can be found on many websites such as Zumba, Fitocracy, and Strava. These sites allow users to find online classes or instructors they can use to complete different workout routines. There are many reasons why people continue using these services even when they know they won’t be able to finish the workout due to distance, time limitations, or other financial issues.

It wasn’t easy to find quality instructors who were comfortable working with clients in the early days. Today, there are many virtual gyms where users can choose from a variety of instructors and classes. Technology is evolving at a rapid pace so that it is now possible to take full advantage of it. Even if you are not using a computer or mobile device to access a gym, there is no harm in attending one as part of your everyday routine.

Induces Self-care

If you value self-care and want to improve your mental well-being, a good place to start is by learning more about the available types of self-care. Start with opening a local centre for practising yoga in your area. Then look into going to a retreat centre or mindfulness centre. The truth is, there’s something for everyone. Getting into shape isn’t hard – it’s a case of choosing what works for you and sticking with it!

Access to Variety

It lets you try out different exercises, even if you lack the hardware for a full-body workout. And it enables you to take advantage of niche markets where exercise equipment is unavailable—like fighting games on consoles or intelligent trainers for the worksite. Virtual fitness offers far more freedom than traditional versions of exercise, and it’s far more convenient for doing things like exercising at home, walking for 30 minutes each day, or even simply sitting in front of a computer.


Virtual fitness can help you stay fit and reach your fitness goals even when you don’t have an original idea or full-time job to devote to your physical activity. It also helps you avoid burnout by letting you work on several different game schedules simultaneously. Becoming more flexible also allows you to take days off work if needed without paying for additional fitness equipment. With virtual fitness, it’s not necessary to be in perfect physical shape to work out.

Boosts Confidence

Building your confidence through virtual fitness can help you overcome shyness and fear of public interactions. When you feel more comfortable in social situations, you are more likely to open up and share your feelings and experiences. If you have been struggling with low self-esteem, becoming more familiar with virtual fitness could be the critical factor that stands between you and achieving positive changes in your life.


Fitness can be empowering, providing a sense of purpose, meaning, and sense of identity. It allows us to feel that we have control over our bodies and live life on our terms. We can choose to be in shape and decide to be happy. The pandemic triggered a profound change in our culture. It elevated the importance of social responsibility in health, fitness, and nutrition. Nevertheless, even though this pandemic ends, digital fitness is here to stay.

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U.S. Entrepreneurship Plummets: Should You Be Concerned?

Declining U.S. Entrepreneurship, What Should Americans Do?

Entrepreneurship is in a prolonged period of decline. This is particularly true for highly trained and experienced professionals who entered the workforce when the economy was propelling growth and falling behind. The number of entrepreneurs has been declining for decades and has recently begun to drop off a cliff. The number of new businesses formed in the U.S. each year has been on a downward trajectory for the past four years running, according to a new report from the Kauffman Foundation.

There is something immensely frustrating about this trend: many young people confidently enter the job market, knowing that they will find opportunities for growth once they get started. Compared with the Depression years before World War II, when unemployment reached 25 percent, today’s middle class is more resilient and can keep up with inflation and growing earnings.

Gains and Losses: Which Is More Material?

Entrepreneurship is one of the driving forces of America’s success, and it incidentally benefits its people. However, in recent decades, U.S. entrepreneurship has plummeted. Most people choose to work for these entrepreneurs instead of building their empires. Should the disappearance of U.S. entrepreneurship cause Americans to worry? Or should we let it happen? However, you may need to weigh the pros and cons, as well as its short-term and long-term effects, before drawing any conclusions.

There is no doubt that entrepreneurship brought numerous advantages to the people. There are a lot of privileges that we unconsciously savor from this activity.

Job Opportunities


Entrepreneurship has a direct correlation with job employment. It also drives rapid economic industrialization and economic growth in the U.S. economy. In addition, almost everything from our smartphones to heaters is the product of entrepreneurial spirit. Perhaps it has created market competition. However, it is the gateway to a more innovative, comprehensive, and creative world that can flourish.


On the other hand, entrepreneurship can undermine its privileges above due to its ruthless nature. This might start layoffs for companies that cannot compete in the market. Thus, entrepreneurship both creates and destroys the jobs of middle-class people. In addition, these startup companies have many regulatory and administrative burdens, such as the need for time for company registration, paperwork and red tape, etc.

This type of excessive regulation for entrepreneurs makes it difficult for them to realize their potential. This is also because rules are frequently changing, complicated and vague, making it arduous for entrepreneurs to survive in business. This survival of the fittest is not necessary. Maybe, this is happening because people do not want to burn their money. So, if you are an existing or potential startup company, will you venture into the business world?

U.S. Entrepreneurship Plummets: Should You Be Concerned?

The Genesis of U.S. Entrepreneurship

Becoming an entrepreneur is in the genes of every American. From the beginning, the United States has been a great player in the business world, deeply rooted in becoming a risk-averse innovator and accepting a new set of ideas and knowledge. The origin of U.S. entrepreneurship can be traced back to the primordial trading and bartering activities with Native Americans that even flourished in the post-American Civil War.

In the nineteenth century, it emphasizes the creation of capitalists, innovators, financiers, and businesspeople who are not limited to venturing out businesses but expanding existing businesses. It has been the secret weapon of the U.S. to prosperity, creation of job opportunities, generation of national income, advancing innovation, and upgrading business procedures.

Entrepreneurship in the United States

In the 1970s, entrepreneurs accounted for about 12% of all new jobs created in the United States. By 2000, that number had dropped to 8% and is now at an all-time low of 5%. Incomes for high-skilled workers have stagnated or declined, while those for low-skilled workers have increased. Projects by Berkeley economist Arun Sundararajan have shown that the number of startups with less than $1 million in funding has risen dramatically.

From the 1800s to the present, the innovative enthusiasm of the U.S. never fades. The U.S. has Andrew Carnegie, who founded the Carnegie Steel Company – the largest steel company in the history of the United States. The creation of the first car was also credited to U.S. entrepreneur Henry Ford – the founder of one the best manufacturers of automobiles. America’s pride Oprah Winfrey grew her media company with a global brand that attracts millions of television viewers. Moreover, the notable Bill Gates and Larry Page, who earn millions of dollars as they venture into the world of technology, also have American roots. The US is an essential player in the business world.

Start-Ups Gradually Vanishing: Numbers and Reasons

Many studies have shown that U.S. entrepreneurship is disappearing. According to data from the Brookings Institution, in a 2015 report released by the U.S. National Bureau of Economic Research (NBER), the number of business closures also exceeded the number of new startups. According to a report released by NBER, the entrepreneurial spirit in the United States has been declining for the past three years.

Historically, only 13% of companies were considered startups in the late 1980s, and this number has fallen to eight percent just in two decades. Between the 1980s and 1990s, the rate decreased, but in the 20th century, new businesses provided fewer opportunities than in the first decades.

Regulatory Statutes

The contributors to this significant decrease in entrepreneurial activities in the U.S. are primarily anchored on regulatory statutes. Dearie and Geduldig revealed in their book “Where the Jobs Are: Entrepreneurship and the Soul of the American Economy” that some of the reasons for the decline in entrepreneurial activity in the United States are:

  • Lack of startup capital
  • Difficulties with stricter government policy
  • Regulations that need to be overhauled to attract more entrepreneurs

Others argue that the rivalry has become so fierce that it is difficult for an entrepreneur to start and survive. Furthermore, economies of scale make it difficult for small enterprises to offer competitive prices while remaining in business.

U.S. Entrepreneurship Plummets: Should You Be Concerned?

Student Debt

From a student’s perspective, another factor that hinders students’ entrepreneurial ability is student debt. It is estimated that student borrowing soared to 1.3 trillion U.S. dollars, equivalent to more than 5% of the overall U.S. Treasury bonds. This situation worsens year after year, resulting from students’ debt of about $26,000 in 2013 and more than $35,000 who graduated in 2016. The students want to start, but they have no financial leeway.

Today’s personal and economic challenges require a closer look at the business perspectives held by many people in the United States who have been hampered for some reason. Stakeholders must create and support new entrepreneurs to start businesses. These efforts will promote economic growth and help expand profitable opportunities for all workers across the United States.

Flourishing New Innovators

Who can help our future entrepreneurs to be successful in business? If necessary, how and what strategies and policies should the government develop to support business activities in the United States flourish as before? These are some questions that need to be answered and given a platform to create new personalities, which will provide new opportunities to tell a story of success.

Enhancing Entrepreneurship for the 21st Century Act

On July 21, Rep. French Hill outlined the relevance of promoting entrepreneurship and procedures to offset the decline in U.S. entrepreneurship, together with Representatives Bill Foster, Steve Chabot, Stephanie Murphy, David Schweikert, and Marc Veasey. They relaunched the bipartisan Congressional Entrepreneurship Caucus and reintroduced HR1345, the Enhancing Entrepreneurship for the 21st Century Act. This restart is aimed at reversing the plight facing Americans across the United States.

The Caucus hopes to integrate the various knowledge, ideas, and ways of thinking of the organizations, including the American Entrepreneurship Center, Engine, Kauffman Foundation, and Entrepreneurship with American entrepreneurs. Identifying and removing obstacles will be the primary goal of this move on behalf of Hill and his company.

Another point of view from Salgado pointed out that borrowing costs can affect the trend of business activities. Compared to entrepreneurs who have established brands, this subsidy is of great importance for young small entrepreneurs. Salgado pointed out that fixed subsidies cannot eliminate the effects of technological changes that affect the economy, which has led to a proportional decrease in the participation of entrepreneurs and the business entry rate.


For the mindset of every potential entrepreneur to flourish, financial assistance is not the only way to solve the problem. Every American needs to increase the value of risk appetite. From Edison to Gates to Page, they bet on life and uncertainty. They have accepted risks and possibilities at every step, regardless of the future. Furthermore, as the adage goes in the business and financial world, the larger the risk, the higher the payout. Without sacrifice, there can be no wealth.

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Getting to Know About Windows 11 for Business

Getting to Know About Windows 11 for Business: The Most Exciting Features

Windows 11 is a new version of Microsoft’s Windows operating system that will be out in late 2021. If you already have Windows 10, the upgrade will be free. You’ll be able to update the new software the same way you do with Windows 10 when it arrives. However, it also depends on your device’s compatibility and if it meets the minimum criteria.

For initial feature testing, the Windows 11 Insider Preview build is currently available for download. It’s worth noting that early beta versions are notoriously buggy. Installing a beta on your primary device is never a good idea; instead, utilize a testing device. Many of the features that come out in the final edition are not available in this early version.

Since Windows 10 release in 2015, this is the first major update to Microsoft’s operating system. There have been whispers of a Windows overhaul for the past year. Microsoft CEO Satya Nadella claimed that it is one of the most significant Windows releases in the last decade. As Windows 11 images circulated in mid-June, Microsoft said it would end support for Windows 10 in 2025.

Windows 11 Insider Preview Build

Go to Settings > Update & Security > Windows Insider Program to join the Windows Insider Program. Ascertain that you are the administrator of your device, and it is running a licensed version of Windows 10. Register for the Windows Insider Program or sign in with an existing account. Begin by pressing the Get Started button.

Choose an account to begin, then select + to connect your Microsoft account and continue. Follow the instructions to select the experience and channel for Insider Preview builds. Developers use the Dev channel, early adopters use the Beta channel, and testers use the Release Preview channel. Only the Dev channel will have access to this build.

Examine the Privacy Statement and terms, then confirm and restart your device. Make sure the Optional Diagnostic Data setting is on in Settings > Privacy > Diagnostics & feedback. After that, go to Settings > Update & Security > Windows Update and check for updates. Based on your settings, you should see the most recent Insider Preview build.

Getting to Know About Windows 11 for Business

Windows 11 for Business Features

Windows 11 user interface and Start menu resemble those present in Windows 10X. Before discontinuing the project in favour of Windows 11, Microsoft had been streamlining Windows for dual-screen devices. The taskbar is where you’ll see the most noticeable visual changes. It features centred app icons, tidied-up tray space, and a new Start button and menu.

Without Live Tiles, this revamped Start menu is a reduced version of what is already available in Windows 10. It includes pinnable programs, recent files, and the option to shut down or restart Windows 11 devices. There’s an option to shift the program icons and Start menu back to the left-hand side rather than centred. Windows 11 resembles a more refined version of Windows 10 when coupled with the dark mode.

Android apps, Snap Layouts, and Widgets will soon be available on PCs thanks to Microsoft’s Windows 11 upgrade. Windows 11 has a more Mac-like appearance, including pastel colors, softer corners, a new startup sound. You’ll find widgets that provide information at a glance and simplified virtual desktop construction. Through Windows 11, Android apps will be available for download through the Microsoft Store.

Android Apps

For the first time, anyone who has Windows 11 can download Android apps to a PC. Android apps will be available in the new Microsoft Store through Amazon’s Appstore. You’ll need to download the Amazon Appstore to obtain access to the roughly 500,000 apps available. As a result, you won’t be able to use every Android app available in the Google Play Store.

To begin, install the Amazon Appstore on your device. Either use an existing Amazon account or create a new one. You may then search for free or premium apps, just like on any other platform. Android apps will have their windows on the Taskbar and integrated into the Start bar.


Windows 11 for business provides you with customizable information at a glance. It is comparable to the news and interests feature introduced in a recent Windows 10 update. It’s a customizable AI-powered stream that slides out to display your information like news and weather. It also displays a preview of your calendar, to-do list, and recent images.

On the newly redesigned taskbar, there is now a Widgets button. When you click or tap on a panel, it will slide out of the left side of your screen. It’s a set of widgets that provide you with all the information you need at a look. By clicking on it, you can also make it full-screen.

Microsoft Teams

With many businesses navigating hybrid workforces, Windows 11 highlights Microsoft Teams.  Microsoft’s video conferencing software Teams integrates Microsoft Teams directly into Windows 11. You can use Teams on Windows, Android, Mac, or iOS to communicate with others. For quicker access to your contacts, launch the Microsoft Teams Chat-bar from the taskbar in Windows 11.

Teams in the Windows taskbar in Windows 11 make calling as straightforward as using FaceTime on macOS. The new taskbar button will take the place of the Skype Meet Now button from Windows 10.  To open the full version of Microsoft Teams, click the box at the bottom of the Chat screen. To communicate, text, phone, or video call one of your contacts, click the Teams symbol.

Getting to Know About Windows 11 for Business

Snap Layouts

Snap Layouts are one of the many productivity features included in Windows 11. It is a new set of layout options allowing the movement of program windows around the screen. A useful new time-saving option for individuals who operate with numerous windows open regularly. Snap Layouts allows you to organize your screen so that you can multitask as much as possible.

Open a new File Explorer window to use Snap Layouts. Hover your mouse on the top right corner’s Maximize window icon. Choose a Snap Layout that fits your window size and shape. Then, in the other Snap Layout zones, select the other windows you wish to show.

Snap Groups

Snap Groups is one of the many new features in Windows 11 you can experiment around. Although you could multitask in Windows 10 by snapping windows to different locations on the screen, Windows 11 is better. Snap Groups are groups saved when you use the Snap layouts feature in Windows 11 to create a layout. You must first create a Snap layout to multitask with before you can create a Snap Group.

After creating a Snap layout in Windows 11, you can go to your Taskbar. Place your cursor over your Taskbar to see the newly created Snap Group. The group will appear in the same layout as the one you just made. Instead of controlling each window individually, you can shrink the group and gain access to all of them.

Multiple Virtual Desktops

You don’t need a second display to enlarge your digital workspace any longer. On Windows 11, having several desktops eliminates the need to browse through minimized windows and tabs. The feature is similar to the virtual desktop feature seen in macOS. By sliding over Task View on the Taskbar or hitting Windows + Tab, you may see your existing desktops.

To make a new desktop, click the New desktop button, which will add a new desktop to the list. You can alternatively use the keyboard shortcut Win + Ctrl + D to create a new desktop. The new desktop will be empty, but any open apps on the previous desktop will remain open. You may rename, reorder, and change the background of your desktop.


Windows 11 for business is the most productive and safe version of Windows suited for hybrid work. It has a Zero Trust-ready operating system with advanced security features like hardware-based isolation, encryption, and malware prevention. With a simpler and streamlined UI and features, it reduces employee cognitive strain. It provides productive online meetings with tighter Teams integration by sharing, muting, and unmuting right from the taskbar.

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Shortage of Semiconductors Sends Panic Signals Worldwide

Knowing Different Reasons for the Shortage of Semiconductors

The shortage of semiconductors has led to the reliance of the modern world on minuscule components. These building blocks do allow electronic devices to process their data. But the question is, why is all this happening, and what further steps can be taken to prevent such an issue?

Is There Really a Shortage of Semiconductors?

According to news reports, a severe shortage of semiconductors has been creating panic among automobile makers and electronic firms worldwide. Experts say the excessive spending by people on electronic items during the pandemic and the huge demand is among the top reasons for this shortage. Other reasons include the closure of factories during the pandemic and Chinese top tech firm Huawei hoarding semiconductors as a result of the US ban.

Tim Cook, the Apple CEO, made a statement saying that the shortage will affect the production of iPhones and iPads. As per analysts, companies will have to bear the effects of the shortage for at least a year. Meanwhile, since manufacturers are hiking prices, consumers can expect to pay more for electronic items and automobiles.

How It Began

The start of the COVID-19 pandemic in the early months of 2020 was a disaster and a shock to the world. This was a time when there was a spree going on for electrical items. A chain of events and panic attacks led to a minor bump in consumer demand. There was an unexpected rise in the demand for chip-heavy gadgets. The companies building these devices sent out a wave of semiconductors orders, which rippled with the supply chain.

People began panicking and went on to buy extra monitors, televisions, games, laptops, etc. First, people wanted to beat the lockdown boredom, and second, they knew that they would need the essential electronic items to continue working at home. This overwhelmed the chip factories that manufactured the globe’s computer chips virtually.

The bleeding-edge chips empowered gaming consoles, smartphones, household appliances or 5g modems, etc. As per the estimates of Goldman Sachs, there were at least 169 industries that had faced disruptions due to the shortage of semiconductors, which potentially shaved 1% of the US GDP in the year 2021.

Situation During the Pandemic

The pre-pandemic threat did pose enormous challenges for the semiconductor industry, but the situation during the pandemic got worse. When plants started to re-open, the producers of electronic goods continued to place orders in huge numbers. This situation led to an ever-increasing backlog for semiconductor chips. Temporary closure of factories due to the lockdown restrictions also put more pressure on the supplies.

Although the Pandemic has been one of the main reasons for the shortage of semiconductors, it wasn’t the only reason. It was in February when there was a storm in Texas and affected several production plants. In March, there was an obnoxious fire that ripped through the Japanese factory. Adding to the fuel, even US-China tensions have little to contribute to this situation. In August 2020, the US went on to ban the companies whose chips had been using US technology from selling to Huawei, the Chinese giant, over the espionage allegations. Huawei tried to outsmart by collecting semiconductors much ahead of this sanction coming into effect. Unfortunately, other companies started following the same, which finally led to further straining of the supplies.

Shortage of Semiconductors Sends Panic Signals Worldwide

Threat to Other Industries

The same forces that snarled the supply chain for semiconductors also led to a shortage of various things globally. Currently, one of the most visible victims has been the automobile industry, as many car brands were forced to slow down the output in recent months.

As the car makers slashed their production during the early pandemic days, the chip suppliers, in return, turned to their clients from various other sectors, such as electronic goods, which were pretty much in high demand during the pandemic. Car brands, such as Volvo and Volkswagen, screamed hard to hold the semiconductor suppliers, especially when the sales started to revive again.

Compared to the automobile players, the smartphone industry was a little on a safer side, as many companies had stocked up the chips, but now these companies have also started to suffer due to the shortage. Apple is one of the prominent ones, which did get hit by the production, but the smaller players are the ones that are likely to get massively affected. In addition, games consoles, such as Xbox and PlayStation, have also been victims of a shorter supply.

Government’s Action

Governments across the globe have been trying to push the capacity of chip-making so that industries would not have to suffer to the extent they are now. In May 2021, the South Korean government announced a massive investment of $451 billion in a bid and a hope to become a giant in the semiconductor industry. The US Senate last month voted in subsidiaries worth $52 billion for chip plants known as fabs.

Lately, the European Union is also on the go, seeking to double the shares of the capacity of the global chip manufacturing industry to 20% by the end of 2030. But the problem is that these chip factories cannot open overnight, especially those that make semiconductor chips. This is because, especially for the semiconductor chips, there is quite a delicate process involved, which presses the layers of chemicals into silicons.

Building newer capacities does take considerable time. For a new fab to come into play, it would roughly take about 2.5+ years. Undoubtedly, it is excellent that expansions are taking place now, but whatever progress is taking place now, we will reap its benefits post-2023 only. Until then, for a year and a half, we will have to live with the shortage of semiconductors. Some long-term factors also meant there was a global demand, which means there was hyper-growth. This indicates that plenty of companies were storing their essential data in the cloud, requiring the need to build more data centres.

In the industry across, there is a unanimous acknowledgement that the shortage of semiconductors will last up to one year. However, the continuous squeeze will end up in higher prices for the consumers. Companies will have no choice, and to curb the demand, they will have to increase the price by a huge margin.

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