The U.S. Labor Department last week reported unemployment at 14.7%, with 20 million jobs lost in April. Administration economists warn US output may plummet at a 40% annual rate in the second quarter. Those staggering measures of economic suffering do not guarantee that President Donald Trump will meet the same one-term fate as Bush, who lost to […]
While many early indicators suggested that the coronavirus pandemic and efforts to contain it would be damaging to the labor economy, we’re now getting a fuller picture of just how bad the situation is in the United States. Read Here – Vox
So far, most investors have viewed the easing of lockdown measures as a big positive for markets….It’s true that for the economy to begin climbing out of a sharp recession, businesses must be allowed to reopen and restrictions on movement have to be lifted. But reopening also carries with it fresh risks. Read Here – CNN
The COVID-19 crisis is now widely seen as the greatest economic calamity since the Great Depression. In January, the IMF expected global income to grow 3 percent; it is now forecast to fall 3 percent, much worse than during the Great Recession of 2008-09. Behind this dire statistic is an even grimmer possibility: if past pandemics are […]
To say that COVID-19 changes everything is already a cliché. But it’s also true. The pandemic is deepening tension between China and the United States, accelerating the digitalisation of commerce, and shining a bright light on the inequalities that divide our societies. It is also triggering dramatic knock-on effects in the criminal underworld. Read Here […]
The number of coronavirus cases worldwide topped four million as some of the hardest-hit countries on Sunday readied to lift lockdown restrictions despite concern about a second wave of infections. Governments are trying to stop the spread of the deadly disease while scrambling for ways to relieve pressure on their economies, which are facing a […]
That Trump—in the throes of the worst public health crisis in more than a century and the most devastating economic downturn since the Great Depression—is writing rosy history long before it has actually happened might seem audacious… But this is a page from a playbook Trump has used many times before. Read Here – Politico
During times of crisis, the most effective leaders are those who can build solidarity by educating the public about its own interests. Sadly, in the case of COVID-19, the leaders of the world’s two largest economies have gone in the opposite direction, all but ensuring that the crisis will deepen. Read Here – Project Syndicate
The U.S. unemployment rate rocketed to 14.7% in April, a level last seen during the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record — stark evidence of how the coronavirus has brought the economy to its knees…And they rob President Donald Trump of the ability to point to a […]
Doctors in hazmat suits ran temperature checks on passengers at Delhi airport and bags were disinfected as the first group of Indians returned home on special flights from Singapore and the Gulf since a sweeping lockdown was imposed in March. Some 400,000 Indians were expected to be brought back from the United States and the […]
looking beyond borders 