The Italian government has taken the unprecedented measure of limiting movement for 60 million people in an effort to contain the spread of coronavirus. In a press conference, Prime Minister Giuseppe Conte announced a nationwide lockdown, under which people will only be allowed to leave their homes for work or health reasons. Schools and universities […]
Despite the shock fall in oil prices, Russian officials remain confident that stepping away from the OPEC deal was a wise decision and largely blame their OPEC partner for refusing to reach a compromise. According to an official statement, the Russian side offered to preserve the production cuts already in place until the second half of 2020 […]
Closing the economic gender gap requires upholding women’s rights and, in many places, ensuring their physical safety. This International Women’s Day, is the glass half empty or half full? In this Big Picture, World Bank Group President David Malpass says that unleashing the economic power of women is not only the right thing to do, but also can […]
The split between OPEC and Russia revived fears of a 2014 oil price crash, when Saudi Arabia and Russia fought for market share with U.S. shale oil producers, which have never participated in output-limiting pacts. OPEC was pushing for an additional 1.5 million barrels per day (bpd) of cuts until the end of 2020. Read […]
Policymakers and too many economic commentators fail to grasp how the next global recession may be unlike the last two. In contrast to recessions driven mainly by a demand shortfall, the challenge posed by a supply-side-driven downturn is that it can result in sharp drops in production, generalised shortages, and rapidly rising prices. Read Here […]
Throughout history, diseases have posed an unsparing test of political leaders and their fidelity to the facts. According to Howard Markel, a medical historian at the University of Michigan, “From the political to the purely mercenary, secrecy has almost always contributed to the further spread of a pandemic and hindered public health management.” Read Here – The […]
With politicians proposing policies that would vastly expand the size of the government and its involvement in the economy, it is clear that too many Americans have forgotten the lessons of the twentieth century. As Friedrich Hayek and Milton Friedman pointed out long ago, deviating from market principles is a recipe for disaster. Read Here […]
While China’s role in global trade is highly publicised and politically polarising, its growing influence in international finance has remained more obscure, mostly due to a lack of data and transparency. Over the past two decades, China has become a major global lender, with outstanding claims now exceeding more than 5% of global GDP. Almost […]
Financial markets remain blissfully in denial of the many predictable global crises that could come to a head this year, particularly in the months before the US presidential election. In addition to the increasingly obvious risks associated with climate change, at least four countries want to destabilise the US from within. Read Here – Project […]
As trade between Washington and New Delhi has increased, so too have tensions. U.S. and Indian officials have disagreed for years on tariffs and foreign investment limitations, but also on other complicated issues, particularly within agricultural trade. Concern for intellectual property rights has preoccupied the United States for thirty years, while issues concerning medical devices […]
looking beyond borders 