Economics Observatory | Questions and answers about coronavirus and the UK economy

How might the UK’s relations with China evolve?

The new UK government is pursuing an approach towards China that promotes cooperation but challenge where needed. While increased trade with the world’s second biggest economy may bring benefits, economic opportunities with the European Union and the United States are likely to be greater.

Audio recordings

Jobs, work, pay & benefits

What do we know about labour market power in the UK?

The ability of powerful firms to set pay and other working conditions is a growing concern for economic researchers and policy-makers. Much of the evidence is from the United States, where labour market institutions and policies are very different. Hence the need for emerging UK-specific analysis.

DATA HUB

South Korean exports

South Korea's share of exports to China dropped from 26.8% in 2018 to 19.7% in 2023, a relative decrease of 26%.

In the same period, Korea's export share to the US increased by 52.3% – from 12% to 18.3% in 2023.

Friday 10th January 2025

Jobs, work, pay & benefits

What do we know about the effects of military conscription?

Mounting national security threats have led a number of European countries to consider reinstating mandatory military service. Proponents argue that it would bolster national defence and boost citizenship among young people. But evidence on either effect is scarce or points to the opposite outcome.

MAGAZINE

Read the latest edition of our magazine here

The quality of jobs in the UK is generally good: by many measures, it has even improved over the last five years. But there are a number of concerning trends that could lead to more mediocre jobs, and away from enriching work and employees who are happy and fulfilled.

Public spending, taxes & debt

UK national security: what have we learned from strategic defence reviews?

The history of British defence policy has been one of constant imbalance between resources, capability and commitments, interspersed with reviews that fail to solve the fundamental problems. These appraisals are typically done at times of economic crisis when public expenditure must be controlled.

Data stories

What happened at the 2024 Olympics?

Paris hosted the 2024 Summer Olympic Games – the 30th of the modern era. Memories will be dominated by great sporting moments, including athletes winning their countries’ first ever medals. But the mega-event also highlighted issues around representation, equality, cost control and home advantage.

Nations, regions & cities

Devolution at 25: how has productivity changed in the devolved nations?

Productivity performance has long varied across the nations of the UK – and it has continued to do so since the devolved administrations were established a quarter of a century ago. Devolution allows for tailored policies to boost productivity, focused on human capital, innovation and investment.

Trade & supply chains

How might a wider Middle East conflict affect the global economy?

The world economy is underperforming as a result of tight monetary policies, weaker global trade, a slowing Chinese economy and uncertainty around the US election. An escalation of conflict in the Middle East could increase uncertainties, harming inflation reduction efforts and hurting growth.

Schools, universities & training

How could the UK’s education system be reformed to equalise opportunities?

Reforms to the admissions procedures for UK schools and universities would make a big difference to many young people’s life chances.

Attitudes, media & governance

What’s worth reading over the 2024 holiday season?

If you’re in search of Christmas gifts or a good book for yourself to read over the holidays, look no further than recommendations from the Economics Observatory.

Attitudes, media & governance

Twenty years of Facebook: how has it shaped economies around the world?

Much has changed since the early days of Facebook in Mark Zuckerberg’s room at Harvard University two decades ago. Today, working out how best to regulate the company is a vital issue for policy-makers around the world. Protecting consumers without dampening innovation is critical.

Data stories

What can Christmas dinner tell us about inflation?

Digital microdata reveal nuance in the price of the holiday season’s most important meal, while historical records highlight how the cost of key ingredients has changed over decades.

Attitudes, media & governance

What are the economic impacts of institutions and technology?

Institutions that have been in place for centuries and cutting-edge new technologies both have big effects on society. Daron Acemoglu, co-recipient of the 2024 Nobel Prize in Economic Sciences, talks to Graeme Roy about how we can harness institutions and technologies for the common good.

Families & households

What’s changed through two decades of housing market dynamics?

Twenty-first century housing markets have had their ups and downs, but prices continue to rise. It’s win-win for the property-rich. Yet as corporate landlords and intermediaries open the door to institutional investors, it’s unclear where the route is to a fairer housing future.

All Answers