Just as COVID-19 has disproportionately impacted some communities more than others, globally, the virus has had an oversized negative impact on migrant workers. Perhaps surprisingly, despite the bleak experience for foreign overseas workers during the pandemic, the effect on remittances—the flow of money they send back home—has, in many cases, proven resilient. But that trend may yet be upended.
Read Here | IMF Blog
According to statistics released by the General Administration of Customs, China’s exports surged by 11.6 percent year-on-year in August, the fifth consecutive month of positive growth this year, a sign of the welcome improvement in the state of both the Chinese and global economies.
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COVID-19 has highlighted the pressing need for better global risk management. So too has escalating climate change. As did the financial crisis. Urgent reform is required to tame the butterfly defect of globalization. These networked threats require changes in all parts of the system.
Read Here | Finance & Development
The pandemic has created a massive economic contraction that will be followed by a financial crisis in many parts of the globe, as nonperforming corporate loans accumulate alongside bankruptcies. Sovereign defaults in the developing world are also poised to spike.
Read Here | Foreign Affairs
Americans are also increasingly questioning whether the US has benefited from making China a cold war enemy, and wondering if their government is spending too much time and effort to force change in China, while leaving plenty of urgent matters at home unattended.
Eurasia is not monolithic and does not constitute an anti-American bloc, but it is much larger economically, has more and better-educated people and is catching up with the dwindling number of technologies in which America still holds the lead. As the US turns to the task of putting its own house in order, the Eurasian Century has already begun.
Chinese economic espionage is one of the most comprehensive and sophisticated campaigns of its type that any great power has embarked upon. An effective response must be closely tailored to avoid unintended side effects.
Before COVID-19 shut down entire sectors of the US economy, the US workforce was becoming increasingly polarised along educational, racial, and geographic lines. Now, those trends have been accelerating, underscoring the need for a smart, worker-focused policy response.
The pandemic has created a massive economic contraction that will be followed by a financial crisis in many parts of the globe, as nonperforming corporate loans accumulate alongside bankruptcies. Sovereign defaults in the developing world are also poised to spike. This crisis will follow a path similar to the one the last crisis took, except worse, commensurate with the scale and scope of the collapse in global economic activity.
The answer is different for the United States than for some other democracies. Europe has a real problem because they actually did try, because of their history, to push nationalism aside, to push national identity aside, and to subsume it in a European identity. This was represented by the idea that the unelected bureaucrats in Brussels were making decisions about everything from what Italy’s budget deficit could be to what constitutes cheese.
