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Summary:
Data Science is a field of study that applies multiple disciplines such as; Machine Learning Algorithms, Business Intelligence, Exploratory Data Analysis Data Product Engineering, etc in order to extract actionable insights from raw data. It involves data cleaning, analysis, processing, advanced analytics, and the final presentation of insights and observations/patterns to stakeholders in order to make data-driven decisions

The Impact:
The real revolution lies in the way data is now becoming available, such as Internet-based information and data from social media sites or mobile apps. The amount of data available from non-sales-related sources is huge and can provide retailers with valuable information for trend prediction and the tracking of customer behavior.

The competitive advantage of online sales platforms compared to traditional companies lies in the large volume of business information they can monitor and examine. Data science is changing the dynamics of the industry as fashion turns from an “offer-based demand” to a “demand-based offer” model.

Data science helps manufacturers and retailers keep up with the latest trends and customer demands. By collecting a large volume of data and turning them into information, every step of the value chain is able to quickly make important decisions on the basis of the most popular styles, colors, fabrics, and sizes.

Applications:

Zara’s strategy to optimize the supply chain involves applying big data from gathered customer interests, feedback, surveys, and other insights used to guide the design and production processes. Hence, a lower production lead time. Through these practices, Zara has managed to streamline its supply chain to the point where approximately 50% of its SKUs are designed and produced during the relevant season. Zara is becoming increasingly focused on digitalizing every aspect of a consumer’s shopping experience. This can be seen in its implementation of online “click and collect” in its key flagship locations.it provides even more immediate knowledge about inventory management and consumer preferences for individual SKUs. Having a large portion of its customer experience digitalization could help Zara collect even more sales data than it already does

Data :

Zara began a Radio Frequency Identification (RFID) project in 2005, which became full-blown in 2015 with a 17% sales boost in the first half. This project involves placing an RFID chip within each clothing tag before distributing them to the appropriate stores.

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Summary:
Due to advancements in textiles that include wearables, also known as smart textiles, material sourcing is being transformed through the control of external stimuli such as stress, moisture, electric or magnetic fields, light, temperature, pH, or chemical compounds. This growth is being spurred by the adoption of these textiles in sectors such as healthcare, sports and fitness, the military, and automotive.

Impact:
The inclusion and expansion of technology and advancement in textile industry has led to innumerable positive changes. The wearer, the designers and the environment, all are benefiting following this. The technical growth will always be in process of transition and this in turn promises newer and better fabrics.

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Summary:
This process utilizes 3D modeling data and rapid prototyping to produce objects by layering polymers, a flexible and durable plastic material. Since the introduction of 3D printing into the supply chain, the polymers have advanced to enable the creation of garments that are able to be worn. These garments resemble properties of actual material, and can be produced within a vastly compressed time period (hours rather than days or weeks).

Impact:
The impact has been abetted by the fact that the price of 3D printers has also dramatically decreased, enabling increased reach and sophistication, including new forms of specialization and sub-specialization on the supply side. On the demand side, we know that the "zero waste" characteristic of 3D printing, as well as the customisation of size, fit, and design, are drawing new customers. From this perspective, 3D printing on clothes may almost be considered an outward statement of identity, similar to the tattoos that some individuals employ to communicate their interests, connections, and values. Meeting the social change that is both cause and effect of the personalisation phenomenon, commercial drivers include brands such as Adidas, New Balance, Nike and so on who are incorporating 3D printing design elements into their production.

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The fashion industry is reestablished by this new technologies since they offer a totally new experience for both brands and their customers by revolutionising how shoppers interact with brands and vice versa. It is certain that the adoption of virtual and augmented reality will drive fashion brands over the next decade. Thus, some brands have already begun to utilise virtual and augmented reality in their stores and strategies. The utilisation of augmented reality in fashion industry is not limited with clothes and shoes only. Cosmetics and accessories are also investing for augmented reality.

Statistics:
Increase Buyer Confidence
- 71% of consumers say they would shop more often if they used AR.
Ease consumer doubts and accelerate sales
- 61% of consumers say they prefer retailers with AR experiences.
Offer AR in store
- 66% of consumers in Japan want offline stores to offer AR experiences.
Customers will pay more for convenience

- 40% of consumers say they would pay more for a product that they could customise in AR.
Source of information?

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To curb discrimination of minorities in the fashion scene in workplaces and in media. Fashion brands should strive to create a fundamental shift to a more forward-looking social vision, implementing DEI (diversity, equity, inclusion) in workplaces and media, in order to close the gap between brands and consumers.

Impact
Employees of color in the fashion industry face discrimination in their workplaces, with unequal treatment and increased pressure to perform.

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- Affects the employment market; creating & replacing. More than 90% of businesses have ongoing investments in AI (NewVantage, 2020)
- Spread of misinformation & polarising viewpoints

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Summary: Values act as the fundamental base of one's beliefs. It guides people, organisations and communities. Values are created by religion, culture and laws due to practices that partake within these three aspects.

Impact: It has a direct impact on fashion and people as it affects the way people dress. Fashion in each culture and countries vary from another due to the different values instilled within societies. It also impacts the way individuals view fashion as each culture has its own set of fashion standards.

Application: It is applied to different fashion houses in the world and fashion in general

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Fashion brands should cater to the demand for gender-neutral and gender-fluid clothing from Gen-Z consumers. While the traditional outlook of gender is male and female with the default menswear and womenswear options, brands need to move forward with the LGBTQIA+ movement. Gender discrimination in the workplace is also rampant with a conventional bias towards cisgendered men.

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Summary:
Blockchain is a digital network created to help decentralize trade and allow for more peer to peer transactions. Many compare it to an encrypted Excel sheet, which keeps track of all transactions approved by a digital, decentralized system. People can access this digital ledger and add new information, which is then linked to the current data stored and become part of the chain.

The impact:
Manufacturing

When it comes to manufacturing in fashion , suppliers can use blockchain technology to store and share information regarding the source of raw materials. By storing this information concerning manufacturing in a blockchain system, rather than through an internal or analogue system, all the information added to the blockchain can easily be accumulated and self-validated, while remaining accessible to anyone with a QR Code or NFC reader.

Tranparency and Authentication

helping apparel brands to counter the threats of counterfeiting, demonstrate their sustainable and ethical credentials, and also differentiate in a competitive market. By creating a unique digital identity for every product – a digital twin – its lifetime journey can be traced on the immutable blockchain from raw material to design and sale, and then resale and recycling, depending on the brand’s needs. Blockchain connects the apparel supply chain with a real-time flow of data, replacing fragmented data with a single, immutable ledger that is visible to all permitted parties. This allows retailers to build more customer-centric supply chains that prioritise authentication and trust.

The applications:
MCQ has designed the unique MYMCQ concept, a blockchain-powered tech platform implemented by Everledger, which enables designers and consumers to securely register and trade items of clothing designed by a hand-picked selection of designers. MYMCQ offers a focus point for a community of like-minded individuals, who share an interest in the label. Everledger’s technology enables the creation of a secure and permanent digital record of each clothing item on the blockchain.

Besides the extra security of the technology, consumers enjoy an improved user experience, as the entire life cycle for each garment is available online, from when and where it was designed, to the first purchase, and even resale. Consumers can be confident they’re purchasing authentic items, regardless of whether they’re being sold directly from MCQ or peer-to-peer, helping to combat counterfeit luxury goods. By enabling the easy resale of items between consumers, MCQ hopes to encourage a more mindful consumerism.

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Urbanisation through infrastructure development will have both negative & positive impacts.

-Positive Impacts; consumers now will have easier access to spend the money they worked hard for thus easing and encouraging the shopping experience.

- Negative Impacts; increased consumption/spending leads to an increase in demand. The manufacturing process will increase in order for supplies to meet with demand in return impacting the environment with higher pollution.

A solution to these issues would be to educate consumers making sustainable choices, and those choices need to become more accessible and affordable.

Another solution would be to impose tax or laws on creating sustainable/ environmentally friendly products and the reward would be a tax reduction or a fine for those who don't abide my the rules.

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Summary: Climate change has been severely impacting the well being of the environment and human beings due to global warming. This is caused by man-made issues such as the increase in greenhouse emissions.

Impact: It has a direct impact on the environment, people and animals. This causes consumers to have a shift of mindset as people are choosing a more sustainable pathway. Hence why many fashion brands, especially fast fashion brands are being scrutinized for their non-ethnical practices.

Application: Brands are being more heading towards a sustainable business models.

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More than just a political problem, fashion brands and corporations should strive to end the discrimination of people of color from treatment in the workplace, unequal wages, and exclusivity in the media and promotional marketing. The diversity of different ethnicities should be embraced, and the traditional white standard of beauty needs to be uprooted and reinvented.

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Summary:

The impact:

Applications:

Ralph Lauren recently announced its first digital collection: a range of 12 items for Bitmoji, the personalized emoji/avatar system owned by Snap. It’s a first for Ralph Lauren, but only the latest in a number of experiments with identity in the virtual spaces of games and social media by fashion and streetwear companies. While playful, these experiments also have implications for the future of retail, and of sustainability.

Alice Delahunt, Chief Digital Officer at Ralph Lauren, explained the company’s move into digital fashion: “As the world of digital avatars continues to accelerate, it’s interesting for us to test and learn how audiences respond to fashion in this space. Bitmoji is important vehicle of self-expression in the digital and social space.”

In Animal Crossing, the game that became a breakout hit early in lockdown, players can wear outfits from brands including 100 Thieves and Marc Jacobs, or a selection from Net-A-Porter.

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Summary: The old way of doing is as follow, take-make-dispose. However due to that it has created massive loads of waste. A circular economy a way to upcycle and recycle items so that it will decrease the amount of waste.

Impact: This has an impact on fashion as brands are now revamping their business models into a circular one. It is ingrained in cultures now to try and recycle as much they can. They are encouraged to return their unwanted clothing to brands so that it can be reused in another design.

Application: Fashion and makeup brands are implimenting a circular model. Such as?

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Circular Economy
- Fashion circular economy could be worth $5 trillion
LINK: https://www.voguebusiness.com/sustainability/fashions-circular-economy-could-be-worth-5-trillion

Climate Change
-  Fashion accounts for around 10% of greenhouse gas emissions from human activity
LINK: https://www.bbc.com/future/article/20200310-sustainable-fashion-how-to-buy-clothes-good-for-the-climate

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- Singapore economy is one of the most stable in the world, with no foreign debt, high government revenue, and a consistently positive surplus.

-The Singapore economy is mainly driven by exports in electronics manufacturing and machinery, financial services, tourism, and the world’s busiest cargo seaport.

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- A considerable percentage of Singaporeans (37%) were found to be paying or interested in paying for purchases with cryptocurrencies, according to the latest Worldpay from FIS’ 2021 Generation Pay research, which explores the spending habits, purchasing experiences, and payment preferences across different generations, from Gen Z to baby boomers. Gen Y (58%) is the most open and boomers (16%) are the least open in crypto payments.

-Crypto rising in certain sectors such as NFT marketplaces which are built on DLT and require the usage of cryptocurrencies. It is also worth noting that there are key players in payments and banking cementing their confidence in the crypto space, such as DBS Bank who is launching its crypto exchange

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Malaysia is ranked fifth among 17 other developing countries according to a Bloomberg study that gauges their outlook for 2021 based on 11 indicators of economic and financial performance.

Main industries in Malaysia:

Advanced security

Aerospace

Construction & infrastructure

Environmental infrastructure & Waste water

Medical technology & devices

Oil & gas

With the recovery momentum seen during the first nine months of 2021, Malaysia's GDP is on track to achieve growth of between 3% and 4% in 2021, and further expand between 5.5% and 6.5% in 2022, in line with projections by the IMF and World Bank at 6.0% and 5.8%, respectively.

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Population:

66.8 million

GDP (PPP):

$3.2 trillion

1.4% growth

1.8% 5-year compound annual growth

$48,710 per capita

Unemployment:

3.9%

Inflation (CPI):

1.8%

FDI Inflow:

$59.1 billion

LINK: https://www.heritage.org/index/country/unitedkingdom

Main Sectors that contribute to the GDO
-Tourism
-Manufacturing
-Construction

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Download PDF

Quick Facts

The United Kingdom's economic freedom score is 78.9, making its economy the 7th freest in the 2019 Index. Its overall score has increased by 0.9 point, with a big jump in fiscal health and higher scores for government integrity and government spending outweighing sharp drops in judicial effectiveness and monetary freedom. The U.K. is ranked 3rd among 44 countries in the Europe region, and its overall score is above the regional and world averages.

The U.K.'s 2019 departure from the European Union has prompted policymakers to address structural deficiencies such as lackluster productivity growth. The resilient economy's recovery from the financial crisis was aided by effective rule of law, an open trade regime, and a well-developed financial sector. The already liberal labor market can be made more flexible after Brexit. The U.K. has one of the world's most efficient business and investment environments and will soon be open to expanded global trade relationships.

Background

Steady growth has made Britain's economy, which has thrived ever since former Prime Minister Margaret Thatcher's market reforms in the 1980s, the world's fifth largest. In 2016, the U.K. voted in a popular referendum to leave the European Union. Current Conservative Party leader and Prime Minister Theresa May has been negotiating the terms of the March 2019 Brexit. The Tories, who ousted the Labour Party in 2010, lost their parliamentary majority in 2017 but retained power with the support of Northern Ireland's Democratic Unionist Party. A series of high-profile, Brexit-related resignations in 2018 further weakened the May government. Services, particularly banking, insurance, and business services, are key drivers of GDP growth. Large oil and natural gas reserves are declining.

Private property rights and contracts are very secure, although fees related to the enforcement of contracts were increased in 2018. The court system is efficient and independent. The rule of law is well established, and the World Economic Forum's 2017-2018 Global Competitiveness Report ranked the U.K. 8th out of 137 countries. Isolated instances of bribery and corruption occur but are prosecuted vigorously.

The top personal income tax rate is 45 percent. The top corporate tax rate is 20 percent. Other taxes include value-added and environment taxes. The overall tax burden equals 33.2 percent of total domestic income. Over the past three years, government spending has amounted to 41.6 percent of the country's output (GDP), and budget deficits have averaged 3.2 percent of GDP. Public debt is equivalent to 87.0 percent of GDP.

The regulatory environment is efficient and transparent. Starting a business takes less than a week. Bankruptcy proceedings are straightforward, and the labor market is relatively efficient. The government maintains a few price controls, such as regulated rates for most utilities and partial controls of prescription drug prices, and is likely to reform current agricultural subsidies after Brexit.

The combined value of exports and imports is equal to 62.5 percent of GDP. The average applied tariff rate is 2.0 percent. Some EU-directed nontariff trade barriers including technical and product-specific regulations, subsidies, and quotas may be adjusted or removed after Brexit. A well-developed financial sector continues to complement one of the world's most efficient investment environments.

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Download PDF Quick Facts The United Kingdom's economic freedom score is 78.9, making its economy the 7th freest in the 2019 Index. Its overall score has increased by 0.9 point, with a big jump in fiscal health and higher scores for government integrity and government spending outweighing sharp drops in judicial effectiveness and monetary freedom.

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INFORMATION TECHNOLOGY

E-commerce: E-commerce is seen as one of the bright spots driving Malaysia’s economic recovery, not just for its growing popularity but also for its growth potential. According to the report, demand in this sector will maintain its momentum in the years to come, even after the pandemic abates and social distancing measures are relaxed.

Fintech: Fintech is another area that continues to experience significant growth due to changing consumer behaviour, movement control restrictions, and regulatory changes. The report noted that Islamic banking would be an emerging area being disrupted by fintech, presenting a "sizeable" opportunity for new fintech companies.

Cloud: In 2020, SaaS conferencing was the easiest and quickest solution for companies to implement. Malaysian companies are now leveraging cloud technologies to better navigate the digital economy. Technology firms that offer online food deliveries services have also been growing in popularity. These on-demand services are expected to grow and expand around Klang Valley in tandem with the explosion of e-commerce.

Cybersecurity: In relation to the rise of cloud technology, there is a huge demand for cybersecurity professionals today. As Malaysian firms of all shapes and sizes go digital and incrementally move their operations online, their vulnerabilities to cyber threats have also increased. Unfortunately, there is a significant lack of cybersecurity experts in the country, but the government aims to resolve this shortage with plans of producing 20,000 cybersecurity knowledge workers by 2025 through the MyDIGITAL blueprint.

There will be more opportunities for local talent, candidates will continue with appetites for changing jobs, and a rising demand for highly-skilled talent who specialise in cloud, security, and other emerging technologies.

FAST-MOVING CONSUMER GOODS

The report observed the changing consumer behaviours that FMCG companies need to take note of:

1. All-around health will be a growing priority

2. Lower trip frequency, bigger baskets will become the norm in the stay-at-home economy

3. Convenience-driven retail will thrive

4. Value-based shopping is a trend among younger age groups

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Singapore has been one of the region’s most politically stable countries.

In the 2021 Budget Statement, Deputy Prime Minister and Minister for Finance Heng Swee Keat announced measures to enable firms and workers transform and emerge stronger from the pandemic.

Over the next three years, $24 billion will be set aside for this. He outlined three enablers in this effort:

1. Growing a vibrant business community

2. Catalysing a wide range of capital

3. Creating opportunities and redesigning jobs

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Singapore’s economic recovery stalled over the last two quarters amid a resurgence in COVID-19 infections in the community. GDP contracted by1.4% q-o-q SA in Q2 2021, before turning in marginal growth of 0.8% in Q3. The domestic-oriented activity was curtailed by mobility restrictions to slowthe transmission of the virus, while the external-facing trade-related andmodern services sectors fared better and provided some support to overallgrowth. As of Q3 this year, output in the economy had returned to its pre pandemic level on aggregate, although there remained significantdisparities in performance across industries.

The economy is expected to continue on its expansion path in the coming quarters as movement restrictions are progressively eased in line with the government’s reopening plans. The domestic-oriented sector should see a gradual pickup in activity, while prospects for the travel-related sector have also improved slightly even though its recovery is likely to be protracted. Meanwhile, the trade-related and modern services clusters will be supported by recoveries in major trade partners and continued strength in global electronics demand. Growth in the Singapore economy is
expected to come in at 6–7% in 2021, and register a slower but still-above trend pace in 2022, barring the materialization of downside risks arising from the evolution of the virus or global economic developments.

• Singapore’s merchandise trade flows have held up relatively well amid global supply chain disruptions wrought by the pandemic. Electronics exports, in particular, have been a source of strength since last year. The relatively upstream nature of Singapore’s production, such as of
semiconductors is an important reason why domestic manufacturers are less affected by supply bottlenecks. Sources of imports of intermediate and consumption goods are also generally well-diversified, thus ensuring the resilience of domestic supply against external shocks.

Please indicate the governor direction e.g. finance, medical etc

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- The ICT sector is one of the fastest-growing sectors in the Malaysian market, currently contributing 19.1 percent of the country’s GDP (2019) and is expected to reach 22.6 percent by 2025.

- Based on a report from GlobalData Market Opportunity Forecasts, ICT spending in Malaysia will reach $25.2 billion by 2023. This spending will be supported by a growing rate of digital adoption and cloud computing in Malaysia. The leading growth areas in the ICT sector include cloud computing, data analytics, storage, cybersecurity, business process outsourcing, and mobility with the highest compound annual growth rate (CAGR) of 21 percent during the forecast period.

- Malaysia’s cybersecurity industry, which can include Internet of things, Big Data Analytics, cloud computing, and Artificial Intelligence, is ranked third among 193 countries according to the 2018 Global Cybersecurity Index. The estimated value of Malaysia’s security services market in 2021 is Artificial Intelligence $6.37 million. The top 10 percent of job opportunities in Malaysia are related to cybersecurity.

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- Following the conviction of former Prime Minister Najib Razak on multiple corruption charges, there have been amendments to the Malaysian Anti-Corruption Commission Act, a move that effectively introduced corporate liability for associated persons.

- Malaysian has two legal and judiciary systems; Sharia Law for Muslims and the British Common Law for non-Muslim and secular. The purpose of both of these laws is to protect the rights of ordinary Malaysian citizens.

- Sharia-compliant finance: One in four financial products in Malaysia are now Islamic in nature with some 60-70% of bonds issued under Sukkuk terms.

- Employment: The Malaysian government continues to be fairly supportive of union rights. This is important to note in light of the fact that COVID has led to various forms of retrenchment and reduction in staff levels. The renegotiation of employment contracts and reorganization of workforces has been a dominant theme.

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Political issues and the conviction of former Prime Minister Najib Razak on multiple corruption charges had a substantive impact on the country. Coming during the early period of the COVID-19 pandemic, it parallels a broader 'changing of the guard' within the country. For the legal market, this manifested in amendments to the Malaysian Anti-Corruption Commission Act, a move that effectively introduced corporate liability for associated persons. 'Abuse of dominance' remains a key focus for the state's relatively new Antitrust laws, although Malaysia still lacks a specific legal framework for merger control(often referred to as the 'third pillar' in generic antitrust structures). Despite this, the issue is being pushed for future development by the Malysian Competition Commission (MyCC) via a blueprint based on EU parameters. Although currently lacking this 'full structure', many industries continue to maintain their own regulatory bodies and internal disciplinary procedures. Banking and finance activity has shifted due to COVID-19 with an increase in restructuring, leveraging and refinancing work. Domestic aviation (a key contributor to GDP) has been impacted due to enforced groundings. The oil industry has also been impacted; rigs and vessels, and other assets have been sold off. More generally, defaults are expected to rise (although most have yet to materialise as Malaysian banks have been prepared to assist companies with cash flow issues.) Equally important, Sharia-compliant finance has come to the fore; one in four financial products in Malaysia are now Islamic in nature with some 60-70% of bonds issued under Sukkuk terms. On the litigation front, there has been an increase in disputes, in for example, the construction industry due to delays caused by the pandemic. However, the use of virtual hearings, has, as in many countries, eased the delays in court hearings. Another area of disputes that has erupted is around the concept of force majeure. In IP, the overhaul of The Trademarks Act (2019) introduced the concept of 'sufficiently similar' image violations. This effectively brought Malaysia on board with the Madrid Protocol. Lawyers have noted that although this has been a positive boon for filing matters (in a system already recognised for its efficiency), it remains to be tested in the court system. It should however be noted that parallel importation remains legal in Malaysia and that data exclusivity and patents are treated separately in Malaysian law.A more general trend is that with the increase in e-commerce, there has been a practical convergence of IP and e-commerce. In terms of employment, the Malaysian government continues to be fairly supportive of union rights. This is important to note in light of the fact that COVID has led to various forms of retrenchment and reduction in staff levels. Despite the fact that the Industrial Court was effectively in 'hibernation' during the lockdown (closed from March to June), complex questions continued to be raised regarding the shift to home working and the complexities around, for example, injuries at home while 'in the workplace'. The renegotiation of employment contracts and reorganisation of workforces has been a dominant theme. Still attracting large multinationals, TMT remains heavily regulated and is increasingly prescriptive. For telecoms, fixed-line operators remain more heavily monitored than mobile alternatives. Key issues here are the regulation of bandwidth and high-speed broadband. Notable regulatory changes include the fact that mobile operators can now provide 'full service' high-speed broadband inside and outside of homes and that 'domestic roaming' is no longer regulated. As in previous years, well-ranked firms continue to be familiar names such as Shearn Delamore & Co, Skrine, Zul Rafique & Partners and Adnan Sundra & Low. However, this year also witnessed the establishment of a number of boutiques (particularly within the construction sector) as well as significant lateral moves from the more established firms. In particular, dispute resolution firm Gan Partnership benefited from the arrival of two former partners from Lee Hishammuddin Allen & Gledhill (the latter having undergone a significant period of internal change - most notably in its tax offering). Foreign firms retain a significant interest in the country with Herbert Smith Freehills LLP (which maintains an on-the-ground presence), Clifford Chance (primarily focused on capital markets), Allen & Overy, and Shearman & Sterling LLP being some of the key names operating for corporate interests.

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Legal Market Overview in Malaysia | Law firm and lawyer rankings from The Legal 500 Asia Pacific guide

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Market-leading rankings and editorial commentary - see the top law firms & lawyers for Legal Market Overview in Malaysia

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- More than half of Malaysia’s greenhouse gas emission sources are directly related to urban settings, with emissions mainly coming from the energy sector (76 percent), the waste sector (12 percent), and the industrial processes sector (6 percent). The electricity and transportation sub-sectors are the biggest contributors to emissions.

-In July 2021, Malaysia launched the National Low Carbon Cities Master Plan providing guidelines for state governments and local authorities in developing low carbon cities. With this, the Low Carbon Cities Catalyst Grant (GeRAK) has also been launched to help local authorities implement their high-impact low-carbon cities initiative.

Sectors identified under the Green Technology Masterplan Malaysia 2017-2030 were:

Renewable Energy (RE): Best prospects for U.S. businesses

Water purification

Air purification

Sewage treatment

Environmental remediation

Solid waste management: Best prospects for U.S. businesses

Energy conservation

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-The UK is political stabled. The prime minister is Borris Johnson.
-The UK consists of England, Wales, Scotland, and Northern Ireland. It is one of the most powerful countries in the world. It is a modern parliamentary democracy and a constitutional monarchy with the monarch (Currently Queen Elizabeth II) being the Head of State. The role of the monarch in the legislative process is largely ceremonial
-Brexit(The withdrawal of Britain from the EU) has created political debates and uncertainties.
-The UK maintains a good relationship with the US and many other countries. They are a permanent member of the United Nations.
-The UK medical system is called the NHS. It is known as the National Health System. It is free healthcare for everyone, however, it takes a long time to get an appointment to see specialists and conduct scans.
-Football is the most popular sport played in the UK. It follows a traditional league system

Please understand the country direction in what industry for further development such as sports, medical etc

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E-commerce sales accounted for 36% of the total retail sales in the UK in November 2020.

The total value of e-commerce sales in the UK was 693 billion British Pounds in 2019.

Clothing is the most bought item online in the UK with 64% of online shoppers.
However competition is extremely fierce in the online segment of the UK fashion industry.

Technological development can further relate from 4th Industrial Revolution like innovative design -> lab grown materials, VR etc

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-The UK has the 6th largest GDP in the world.
-Due to the COVID 19 Pandemic, it casued lockdown which affected businesses in different industries. This had reprecussions on the economy. Therefore, the Bank of England pumped an extra £100 billion into the economy in 2020.
-National Living Wage (23+) in the UK is £8.91 as of April 2021. The wage usually increases every year which is extremely useful to support people with low income. The current corporation tax rate for company profits is 19%.
-Cars, gas tribune, gold, and crude petroleum are some of the top exports of the UK that mostly go to countries such as the USA, Germany, China, the Netherlands, and France.
-The top imports are cars, gold, refined petroleum, broadcasting equipment
-The UK is known for their education hence why it attracts international students, which contributes widely to the economy
-In the United Kingdom, the average household net adjusted disposable income per capita is USD 28 715 a year
-The UK employment rate was estimated at 75.5%, 1.1 percentage points lower than before the coronavirus pandemic.

Please research further on disposal income, social-economic group, employment, inflation etc

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GOVERNMENT & ADMINISTRATION - Malaysia has divided its country into 3 federal territories and 13 states which follows the western parliamentary democracy as the system of government where the head is the Prime minister. Federal constitutional monarchy is part of the system where the elected monarch is the head of the state. 9 Sultans from the different states choose the monarch for five years.

STABLE POLITICAL ENVIRONMENT - Malaysian political environment is stable with follows the rule of neutrality and peace in worldly political affairs and  manifests the same in foreign policy. Malaysia used to have conflicts and political tension with China on the disagreement of the South China Sea. Both of them have come to an amicable resolution. After the resolution of the conflict, Malaysia has made a defence, energy, tech, and many other deals with China.

CORRUPTION - According to the ranking of Transparency International, Malaysia ranks at the 57th position out of 180 countries in 2020. It shows that the corruption level has increased in recent years. Even the government has arrested many high-ranking officers and politicians. But it doesn’t seem to reduce the corruption level. Malaysian people called the bribery “sweetener” to get things done. It means that the people have to pay some bribery in order to have basic facilities like justice, health, medicine, education, and etc. The corruption level isn’t good for the country’s image.

ALLIANCES - Malaysia has alliances and memberships with organisations like the United Nations, Organisation for Islamic Cooperation (OIC), Commonwealth of Nations, ASEAN, APEC, EAS, and Non-Aligned Movement.

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The UK shoppers purchase more clothes than any other country in Europe and 80% buyers buy clothes that they never wear. They are also responsible for sending around 300,000 tons of clothes a year to burning or landfills.

Please look into regulations on environmental as well as human being towards environmental

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-The UK has a big consumer market. The current population is over 68 million
-Births continue to outnumber deaths and the population is expected to reach 74 million by 2039.
-The UK has historically been influenced by the concept of social class; however, the population is multicultural. Companies cater for a variety of merchandise and items to suit the needs and wants of each religion and race.
-The UK is one of the top 10 countries perceived to have the most educated population in the world.

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GDP RATE - According to the financial report, Malaysia’s annual GDP was 900,426 billion US dollars and it’s the 29th highest in the world. Out of which, the per capita earning was 27,287 dollars and it’s 51st highest in the world. The pandemic of Covid-19 has slightly dropped her GDP and per capita income.

INDUSTRIAL ECONOMY - Malaysia has a knowledge-based industrial economy. It has helped the country in many ways of decreasing the unemployment rate and growth of technology. The industrial economy is increasing the standard of living of people and the productivity of the workforce by making them more efficient.

IMPORTS & EXPORTS - Some of the major exports of Malaysia are office machine parts, palm oil, integrated circuits, petroleum gas, and refined petroleum. Her exporting countries are Hong Kong, Japan, Singapore, China, and the USA.  Some of the major imports of the country are crude petroleum, office machine parts, integrated circuits, broadcasting equipment, and refined petroleum. Her importing countries are Japan, the USA, Singapore, and the USA.

UNEMPLOYMENT RATE - According to a study, the Malaysian unemployment rate has increased from 3.2% to 4.8% during the period of 2019 to 2020. The economist blames the global economic recession due to the pandemic of covid-19 and the shutdown of businesses. The employment opportunities have fallen by 0.8%.

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increased media attention surrounding factories supplying the online fashion retailer Boohoo, due to allegations of underpayment of wages and unsafe working conditions. This, however, is not a new problem. Labour exploitation in locations such as Leicester has long been an open secret, with reports claiming that there could be an estimated 10,000 modern slavery victims in textile factories. The pandemic has shone a new light on this important issue and also exacerbated the vulnerability of workers in this industry.

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DIVERSE DEMOGRAPHICS - Malaysia is a diverse country comprising of different ethnicities, religions, cultures, and backgrounds. Islam is the majority religion in the country and other prominent religions are Buddhism, Christianity, Hinduism, Chinese, Sikhism, and others. Her people are living in harmony besides all the differences. Malay is the official language of Malaysia while other languages are English, Malayalam, Tamil, Chinese, and Telugu.

LIFESTYLE - Malaysian people live a wealthy lifestyle if you compare it with other neighboring countries. It’s because the country has a lower income tax, lower cost of fuel, household products, the social welfare system, and a free healthcare system. Her teenagers face the issue of alcoholism and it’s a serious problem there. The government controls the media and dissemination of information.

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Singapore is has an open and trade-driven economy. It is a leading financial, aviation, shipping and trade hub for the Asia Pacific region, and the government has a pro-business economic and trade policy. It is one of the world’s wealthiest economies with GDP per capita over US$65,000 (2019).

Economic activity is spread across diverse sectors. It has a strong growth in financial and business services. It is ranked as the 4th global financial centre after London, New York and Hong Kong, and is a fast-growing insurance and wealth management hub.

Going forward, Singapore is delivering its ‘Future Economy’ strategy. Its COVID-19 response has put planning front and centre as it increases efforts to become a “global-Asia node of technology, innovation, and enterprise”. Key priorities include: accelerating digitalisation and internationalisation, promoting upskilling and reskilling; catalysing growth in new sectors (e.g. advanced manufacturing, FinTech and cyber) and benefiting from continued ASEAN economic integration.

Here can indicate the inflation, employment more on the economy health of the country

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Singapore entered the Stabilisation Phase on 27 September 2021 to slow the rate of transmission and protect our healthcare system. However, given the continuing pressures on the healthcare system, the Stabilisation Phase will be extended from 25 October through 21 November 2021.

From 14 February 2022 onwards, those aged 18 years and above who have completed the COVID-19 primary vaccination series and are eligible for booster vaccination will be considered as fully vaccinated for 270 days (9 months) after their last dose in the primary vaccination series.

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MAS has announced a $125 Million support package for the financial and FinTech sectors to deal with the immediate challenges from COVID-19 and position strongly for the recovery and future growth. MAS also launched a $6 Million MAS-SFA-AMTD FinTech Solidarity Grant to help Singapore-based FinTechs sustain operations, retain staff, and offset POC costs.

The Monetary Authority of Singapore (MAS) today announced the launch of a global challenge for retail Central Bank Digital Currency (CBDC) solutions (Global CBDC Challenge). Launched in partnership with the International Monetary Fund, World Bank, Asian Development Bank, United Nations Capital Development Fund, United Nations High Commission for Refugees, United Nations Development Programme, and the Organisation for Economic Co-operation and Development, the Global CBDC Challenge seeks innovative retail CBDC solutions to enhance payment efficiencies and promote financial inclusion.

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Singapore, in recognition of the existential threat climate change poses to the island, unveiled its Green Plan 2030 earlier this year. Under the Paris Agreement, Singapore is committed to halve carbon emissions by 2050.

The inaugural OCBC Climate Index national average came at 6.7 points - with Singaporeans scoring an average of 8.3 for awareness, 6.5 for adoption and 5.6 for advocacy.

About 54 per cent of respondents had scores of between 6 and 7.9, while 30 per cent had scores of 4 to 5.9.

The highest score was 9.5, with about 15 per cent of respondents scoring between 8 and 10. The lowest average was 3.1, and just 1 per cent had scores of 2 to 3.9.

The index also showed that Singaporeans had high awareness of the environmental issues across four lifestyle themes - transport, home, food and goods - even though it was not reflected in terms of their adoption of green practices.

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1. Singapore's legal system is based on common law and statutes enacted by Parliament. Singapore is a city-state and does not have a federal system. Its government is modelled on the Westminster system with three separate branches of government, the:

Legislature (which comprises the President and Parliament).

Executive (which comprises cabinet ministers and office-holders, and is led by the Prime Minister).

Judiciary.

2. There are generally no foreign exchange or currency restrictions on the remittance or repatriation of capital or profits in or out of Singapore.

There are three relevant types of reports required under the Anti-Money Laundering and Counter-Financing of Terrorism regime in Singapore:

Cash Movement Reports.

Cash Transaction Reports.

Suspicious Transaction Reports.

3. Singapore offers a balanced regulatory and legal environment for cryptocurrencies. The Monetary Authority of Singapore (MAS), Singapore's financial regulatory body, believes in regulating the cryptocurrency ecosystem to monitor any risks associated with crypto activities, such as money laundering and terrorist financing, while also ensuring that it doesn't stifle innovation