The COVID-19 pandemic is crippling the economies of rich and poor countries alike. Yet for many low-income and fragile states, the economic shock will be magnified by the loss of remittances—money sent home by migrant and guest workers employed in foreign countries. Read Here – Finance & Development
The swift and massive shock of the coronavirus pandemic and shutdown measures to contain it have plunged the global economy into a severe contraction. According to World Bank forecasts, the global economy will shrink by 5.2% this year. That would represent the deepest recession since the Second World War, with the largest fraction of economies […]
Plans for so-called air bridges and travel bubbles—agreements between countries allowing citizens to cross borders without needing to quarantine—provide hope for a resumption of travel… But rather than reuniting a fractured world, the reopening of travel based on separate international circles of trust risks introducing new divisions. Read Here – Foreign Policy
China’s economy is not a discrete organism that can easily be separated from the global economy but rather a Siamese twin, connected by nervous tissue, common organs, and a shared circulatory system. The coronavirus pandemic has revealed the hidden vulnerabilities of this interconnected system of supply chains, especially for medical equipment. Read Here – Foreign […]
Even if the United States turns a blind eye to deglobalization’s effects on the rest of the world, it should remember that the current abundant demand for dollar assets depends heavily on the vast trade and financial system that some American politicians aim to shrink. If deglobalization goes too far, no country will be spared. […]
The contrast seems grotesque. A deadly pandemic has shut down the global economy and left millions of workers furloughed, fired, or stranded without gigs. The future for most businesses looks uncertain to dismal. Yet U.S. stock indices are near all-time highs, at giddy valuations comparable to the 2000 dot-com bubble and 1929. Read Here – […]
China and the US should try to avoid a new Cold War and find new ways to cooperate despite their differences, Chinese Foreign Minister Wang Yi said on Sunday. “We need to be alert to efforts by some political forces in America to hijack China-US relations and who try to push the two countries towards […]
Politicians pushing globalisation like Clinton may have told the public that the purpose of NAFTA and of China’s admission to the World Trade Organization (WTO) was to open the closed markets of Mexico and China to “American products made on American soil, everything from corn to chemicals to computers.” But U.S. multinationals and their lobbyists […]
The enduring dominance of the dollar is remarkable—especially given the rise of emerging markets and the relative decline of the U.S. economy, from nearly 40 percent of world GDP in 1960 to just 25 percent today. But the dollar’s status will be tested by Washington’s ability to weather the COVID-19 storm and emerge with economic […]
After three years of US President Donald Trump abusing America’s dominant position in the global monetary and financial system, his administration’s disastrous response to the COVID-19 pandemic will further erode faith in the dollar. And if the days of America’s “exorbitant privilege” come to an end, so will much else. Read Here – Project Syndicate
looking beyond borders 