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Preparing students for the rise of a Passion Economy – Macleans.ca

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Schools are preparing students with the skills they’ll need to succeed in the world of freelance, consulting and entrepreneurship

Special Advertising Feature: Private School Guide Fall 2021 

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Though economists have been discussing the rise of precarious work for years, nothing could have possibly prepared them for a global pandemic. Eighteen months later, as the economy slowly reopens, experts are beginning to see and imagine what a post-COVID economy might look like. “I don’t have a crystal ball, unfortunately,” admits University of Toronto economy professor Elizabeth Dhuey, though the specialist in the economics of education can make a very educated guess. “Fair to say there will be a whole lot of job shuffling in the near future. People are moving out of traditional jobs and into consulting or independent careers.”

Fewer people are being drawn to the 9-to-5 office job, says Dhuey. This was true of millennials and Gen X, but even more so of Gen Z and beyond, whose job expectations continue to climb ever higher. “People do want to make money, of course, but they’re looking for more than a paycheque,” says Richard Lachman, director of the RTA School of Media at Ryerson University. “Nobody is willing to make work their whole identity if it doesn’t give back some meaning and make you feel good about their life and values.”

Another name for that? The Passion Economy, and even without a crystal ball, a quick look in a history textbook would show a push to passion is definitely coming up next. “After any hardship, there’s a renaissance period and a desire for creativity, happiness and fulfillment,” says Cheryl Cran, future of work expert in Vancouver. “People are inspired to re-evaluate their lives, change their work and follow their passions.”

For many, finding and following your passion involves freelancing, consulting or starting your own business. In the before-times, this was a risk usually taken only after years of on-the-job experience. Today, we can teach the same skills to the greenest of budding entrepreneurs. “We developed Branksome Hall’s Noodle student accelerator program—the first of its kind at the high-school level,” says Katie Gillespie, associate director of marketing at Branksome Hall. Participants from Grades 7 to 12 complete a 38-week intensive entrepreneurship program culminating in a final pitch to experts and judges, and the winner enjoys a grand prize of $10,000 in seed funding for their idea.

Seeing this explosion of the passion-driven economy unfold in real time, many Canadian schools are preparing secondary students with the skills they’ll need to succeed. “Self-actualization, intrinsic motivation and general problem-solving skills are central to our overall approach to teaching and learning,” says principal Graham Vogt at Rosseau Lake College. “Students are increasingly and intentionally exposed to meaningful challenges and disruption. We ensure our students are comfortable being uncomfortable and familiar with the unfamiliar.” It’s a sentiment also seen at The Bishop Strachan School: “Students are prepared to handle situations that have unpredictable outcomes,” says junior school principal Catherine Hant, whose educators therefore teach “tools to problem-solve, build relationships and master communication skills—all with an emphasis on listening.”

Also as the co-director of FutureSkills Canada, Dhuey would approve. “We want to learn the best way to educate people for the future world of work—even when we don’t know what the future looks like,” she says. “The evidence shows us that creativity and problem-solving are the skills we should focus on because whatever happens, we’re going to need those.”

A generation of children and youth spent eighteen months, by necessity, working on those skills exactly. And for all parents’ gripes about remote learning, there are positives to be found. “Lots of kids are coming out of the pandemic very resilient and with intrinsic motivation to work efficiently and independently,” says Dhuey. All those frustrated Zoom hours have given kids superior tech skills to take wherever they go, which could be anywhere. “They’re not tied to geography anymore, which means more opportunities, and all these tools that were niche are now widespread and mainstream.”

Students are so good at technology and remote work, notes The York School director David Hanna, that they’re actually teaching the teachers a thing or two. “They’re so fearless with technology and pushing the limits to what tech as a tool can do for them.” The very first thing to get going on a passionate career where you get to be your boss? “If I were 17 and graduating today, I’d start with a one-page website with my photo and my goals and vision for the future of work in the world,” says Cran. “In 2021, it’s all about showing what excites you and what you have to offer the world.”

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Economy

China Wants Everyone to Trade In Their Old Cars, Fridges to Help Save Its Economy

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China’s world-beating electric vehicle industry, at the heart of growing trade tensions with the US and Europe, is set to receive a big boost from the government’s latest effort to accelerate growth.

That’s one takeaway from what Beijing has revealed about its plan for incentives that will encourage Chinese businesses and households to adopt cleaner technologies. It’s widely expected to be one of this year’s main stimulus programs, though question-marks remain — including how much the government will spend.

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German Business Outlook Hits One-Year High as Economy Heals

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German business sentiment improved to its highest level in a year — reinforcing recent signs that Europe’s largest economy is exiting two years of struggles.

An expectations gauge by the Ifo institute rose to 89.9. in April from a revised 87.7 the previous month. That exceeds the 88.9 median forecast in a Bloomberg survey. A measure of current conditions also advanced.

“Sentiment has improved at companies in Germany,” Ifo President Clemens Fuest said. “Companies were more satisfied with their current business. Their expectations also brightened. The economy is stabilizing, especially thanks to service providers.”

A stronger global economy and the prospect of looser monetary policy in the euro zone are helping drag Germany out of the malaise that set in following Russia’s attack on Ukraine. European Central Bank President Christine Lagarde said last week that the country may have “turned the corner,” while Chancellor Olaf Scholz has also expressed optimism, citing record employment and retreating inflation.

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There’s been a particular shift in the data in recent weeks, with the Bundesbank now estimating that output rose in the first quarter, having only a month ago foreseen a contraction that would have ushered in a first recession since the pandemic.

Even so, the start of the year “didn’t go great,” according to Fuest.

“What we’re seeing at the moment confirms the forecasts, which are saying that growth will be weak in Germany, but at least it won’t be negative,” he told Bloomberg Television. “So this is the stabilization we expected. It’s not a complete recovery. But at least it’s a start.”

Monthly purchasing managers’ surveys for April brought more cheer this week as Germany returned to expansion for the first time since June 2023. Weak spots remain, however — notably in industry, which is still mired in a slump that’s being offset by a surge in services activity.

“We see an improving worldwide economy,” Fuest said. “But this doesn’t seem to reach German manufacturing, which is puzzling in a way.”

Germany, which was the only Group of Seven economy to shrink last year and has been weighing on the wider region, helped private-sector output in the 20-nation euro area strengthen this month, S&P Global said.

–With assistance from Joel Rinneby, Kristian Siedenburg and Francine Lacqua.

(Updates with more comments from Fuest starting in sixth paragraph.)

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Parallel economy: How Russia is defying the West’s boycott

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When Moscow resident Zoya, 62, was planning a trip to Italy to visit her daughter last August, she saw the perfect opportunity to buy the Apple Watch she had long dreamed of owning.

Officially, Apple does not sell its products in Russia.

The California-based tech giant was one of the first companies to announce it would exit the country in response to Russian President Vladimir Putin’s full-scale invasion of Ukraine on February 24, 2022.

But the week before her trip, Zoya made a surprise discovery while browsing Yandex.Market, one of several Russian answers to Amazon, where she regularly shops.

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Not only was the Apple Watch available for sale on the website, it was cheaper than in Italy.

Zoya bought the watch without a moment’s delay.

The serial code on the watch that was delivered to her home confirmed that it was manufactured by Apple in 2022 and intended for sale in the United States.

“In the store, they explained to me that these are genuine Apple products entering Russia through parallel imports,” Zoya, who asked to be only referred to by her first name, told Al Jazeera.

“I thought it was much easier to buy online than searching for a store in an unfamiliar country.”

Nearly 1,400 companies, including many of the most internationally recognisable brands, have since February 2022 announced that they would cease or dial back their operations in Russia in protest of Moscow’s military aggression against Ukraine.

But two years after the invasion, many of these companies’ products are still widely sold in Russia, in many cases in violation of Western-led sanctions, a months-long investigation by Al Jazeera has found.

Aided by the Russian government’s legalisation of parallel imports, Russian businesses have established a network of alternative supply chains to import restricted goods through third countries.

The companies that make the products have been either unwilling or unable to clamp down on these unofficial distribution networks.

 

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