The millennial generation, or Gen Y, is considered to be anyone born between 1980 and the late 90s. The bulk of this generation has graduated college/university. They have jobs, and are looking to live independently. Looking at household living patterns across the globe it is evident that Millennials prefer vertical living options for a number of reasons.
Each generation is different than the preceding one, often in surprising ways. Unlike their parents and grandparents, millennials are more comfortable living in an apartment rather than maintaining a conventional house.
Paramount Realty, a real estate company in Sri Lanka through its extensive research has identified that the demand for vertical living is gathering significant momentum among millennials and is expected to grow in the next few years. Some of the key reasons identified by Paramount Realty are as follows.
As Sri Lanka stands at crossroads, thirsty for improved economic progress and prosperity, the country’s Central Bank chief yesterday requested the private sector to take the lead in moving forward the island nation’s debt-ridden economy.
Speaking to a fully-packed audience at the latest Sri Lanka Economic Summit edition of the Ceylon Chamber of Commerce, CBSL Governor Dr. Indrajit Coomaraswamy urged the private sector to look through the prevailing negativities, at the bigger picture and keep its investments within the country.
China’s meteoric rise has put the spotlight on the relationships it shares with its neighbours. Distinct national interests and the substantial social and political diversity in the region make the development of a regional community a complex and delicate task.
China shares land borders with 14 countries and has eight maritime neighbours. But to truly understand China’s relations with its neighbours, one must go beyond geography and consider how history, culture, geopolitics and geo-economics have shaped, and will continue to shape, these relationships.
Serious consideration must also be given to competitive national interests in the evolution of these increasingly interdependent relationships. The rise of China presents new challenges and opportunities for the development of neighbourhood relations and regional strategies. The close involvement of extra-regional powers, such as the United States, Japan and India, serves to further complicate China’s relationships with its neighbours.
Peaceful and friendly ties
China and its neighbours have a shared interest in maintaining a peaceful and friendly relationship. If mishandled, all sides will suffer. This is the implication behind the Chinese leadership’s call for a ‘community of shared interests and common destiny’ with its neighbours through a number of new initiatives. This new, grand strategy is underpinned by China’s growing confidence in its ability to shape the regional environment. It reflects a new mode of strategic thinking on how to position China among its neighbours and how to understand the new importance of China’s neighbouring regions.
China has developed initiatives to enhance regional ties, but the political, social and economic diversity among China’s neighbours is immense. Relations are further complicated by conflicts of interest between the neighbours themselves, as well as by intervention from extra-regional powers, which engage in overt and covert competition in the region.
As China’s influence rises, its neighbours’ distrust grows. Some of them worry that China’s harbours ambitions for regional hegemony. Maritime and territorial disputes, over the exclusive economic zones in the East China Sea and South China Sea in particular, have resulted in rising tension between China, Japan and some ASEAN members. There has been widespread concern that confrontations may lead to a military conflict. The announcement and implementation of the United States’ ‘pivot to Asia’ strategy, which stokes US–China competition in the region, has amplified these difficulties.