The US's current runaway inflation problem has not only been both demand-pulled and cost-pushed, but also been "politics-sustained" as well, as shown by the Biden Administration's latest student-loan-forgiving new legislation, enacted partly to beg for votes in the coming Congress mid-term re-elections. Union organizing is expanding and becoming more successful, and employers are finding it difficult to sweep aside potential and current employees’ preferences for hybrid work. The elasticity of global supply chains has declined, increasing the bargaining power of workers in advanced economies.
Whenever there is a demand surge, the equilibrium market response will be some combination of supply expansion and price increases, and for the past several decades, the supply expansion clearly dominated, creating deflationary pressures that came to be taken for granted.īut the remaining underutilized productive capacity in the global economy has been declining, and global demand has grown as tens of millions of consumers have joined the middle class. In manufactured goods and intermediate products (a substantial share of the tradable part of the global economy), we are emerging from a long period of deflationary conditions, which had been driven by the introduction of massive amounts of previously unused, low-cost, productive capacity in emerging economies. But the secular trends are likely to lead to a new equilibrium in many economies and global financial markets. While there are also transitory factors – such as supply-chain disruptions and bottlenecks, and China’s zero-COVID policy – these presumably will abate at some point. In addition, YEESS regularly lobbies for New Space actors at international space events, supporting members with marketing, commercial partnerships, and consolidating services.MILAN – The post-pandemic economy’s high inflationary pressures are being powered in part by secular trends and forces, many of which are operating on the supply side. The syndicate is also involved with ESA’s New Space Board advising ESA on driving European competitiveness. There, group members provide advice to the European Commission on the Copernicus space system architecture. In addition, the group is engaged with the Expert Group mandated by the Earth Observation Copernicus Programme Department. As part of this, YEESS established a direct dialogue with the European Space Agency’s (ESA) commercialisation directorate. The syndicate has been engaging at the highest level of space funding and policy-making in Europe, according to Unseenlabs.
YEESS raises awareness of the innovation potential, solutions and services coming from the space sector. The objective of the international non-profit association is to boost the competitiveness of Europe in space. YEESS was launched in 2021 by a group of European space enterprises, Satlantis, Anywaves, Exotrail, Pangea Aerospace, Aerospacelab, and ConstellR. – Europe’s first representative New Space platform, YEESS (Young European Enterprises Syndicate for Space) has welcomed three new members: Unseenlabs, Exolaunch, and U-Space, the syndicate stated.
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