FT News Briefing Ukraine’s ‘Rosie the Riveter’ moment
May 24, 2024
Elon Musk’s xAI garners new support from major Silicon Valley investors. In Ukraine, women are stepping into roles traditionally held by men, adapting to wartime challenges. Meanwhile, the UK's Labour Party may benefit from a 'dullness dividend' as it seeks to stabilize the political landscape. Economic uncertainties loom in the UK, as Conservative policies falter and Labour looks to restore confidence. Insights on U.S. debt highlight a delicate balance between optimism and concern for the future.
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Ukraine's Labor Shortage
- Ukrainian factories face worker shortages due to male mobilization for war.
- This impacts key industries like steel production, vital for infrastructure defense.
Steel Plant Adapts to Mobilization
- A steel factory, a major taxpayer and producer of protective steel, lost 3500 men to mobilization.
- To cope, they're offering traditionally male roles to women and considering on-site childcare.
Economic Impact of Mobilization
- Loss of male workers reduces tax revenue, crucial for Ukraine's war effort.
- Ukraine relies on EU funding for social spending, making tax revenue essential for military expenses.