By unsheathing the oil weapon, the Saudis have finally tested the patience of oil-patch Republicans, who have long been among their staunchest supporters in Congress. Even though the United States, Saudi Arabia, Russia, and other big oil producers reached a deal this month meant to curtail oil output and undo some of the damage, it […]
There are also real concerns about the continued supply of products and medicines, partly because countries may hoard drugs during a crisis, and partly because of the quality of manufacturing processes—worries that are not unique to India. The world depends on a few key exporters: China for personal protection equipment, India for medicines, Malaysia for […]
Tattoo parlours and hair salons in Denmark. Beaches in Australia. Bookstores in Germany. Countries around the world that have seen coronavirus infections flatten out began easing their lockdowns Monday. In the U.S., meanwhile, the debate took on an increasingly political edge. Read Here – APNews
This is a “crisis like no other.” The outlook is dire. We expect global economic activity to decline on a scale we have not seen since the Great Depression. This year 170 countries will see income per capita go down—only months ago we were projecting 160 economies to register positive per capita income growth. Read Here – […]
During normal times, if the world’s petroleum producers announced an agreement to slash output, oil prices would immediately spike. During normal times, lower crude prices would boost economic growth. During normal times, low oil prices might be reason to celebrate. But if there is one fact we can agree on, it is that these are […]
After suffering severe labour shortages due to the COVID-19 pandemic, it seems unlikely that advanced-economy farmers will return to business as usual. Instead, many will probably attempt to mitigate the risks stemming from dependence on foreign seasonal workers by automating more of their operations. Read Here – Project Syndicate
Governments around the world are wrestling with when — and how — to ease the restrictions designed to control the coronavirus pandemic amid rising unemployment and with many of their citizens struggling to make ends meet. Mandatory lockdowns to stop the spread of the new virus, which has so far infected almost 2.3 million people […]
Governments, in other words, are spending as if there will be zero economic output between now and sometime this summer…This level of spending has no precedent in history—not even close. Not in war. Not in peacetime. Not ever. Read Here – Foreign Affairs
An economy without crowds is not a “new normal.” It may be more like the new anomie, to borrow Émile Durkheim’s term for the sense of disconnectedness. For most people, the word “fun” is almost synonymous with “crowd.” The coming year will be a time of depression in the psychological as well as the economic […]
Under the assumption that the pandemic and required containment peaks in the second quarter for most countries in the world, and recedes in the second half of this year, in the April World Economic Outlook we project global growth in 2020 to fall to -3 percent. This is a downgrade of 6.3 percentage points from January 2020, […]
looking beyond borders 