The global economic consequences of COVID-19 would inevitably slow Russian economic growth. A prolonged collapse in oil prices would almost certainly push the economy into recession. Putin’s promises evaporated. In these circumstances, Putin needs to raise and stabilize oil prices. The question was how to do that without appearing to yield to Saudi or American […]
China’s economy shrank by 6.8 per cent in the first quarter of 2020, the first contraction since the end of the Cultural Revolution in 1976, confirming the economic damage done by the coronavirus pandemic. Over the first three months of the year, the world’s second largest economy faced an extensive shutdown as it battled to […]
The ranks of Americans thrown out of work by the coronavirus ballooned Thursday to at least 22 million in just four weeks, an unprecedented collapse that has fuelled widening protests and propelled President Donald Trump’s push to relax the nation’s social distancing guidelines. Read Here – APNews
Through early and efficient border closures, uncharacteristic official transparency and strategic Covid-19 diplomacy, communist-run Vietnam is fast emerging as a likely post-pandemic winner. For a nation that has long-sought to secure it’s place as a reliable and responsible global actor, the coronavirus outbreak and its minimal impact on Vietnam has presented the nation an opportunity […]
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
The United States stepped up its pressure on China over the coronavirus pandemic with President Donald Trump saying his administration was trying to determine where the deadly disease originated from. Secretary of State Mike Pompeo also called on Beijing “to come clean” on what it knows. Read Here – AlJazeera
Now that the pandemic crisis is hammering America’s finances, U.S. strategy risks veering even further into permanent insolvency. Even before the crisis, the military demands of an intense global competition with China, Russia, and secondary competitors like Iran and North Korea were becoming financially untenable. Now, the costs of the current crisis — in both […]
In the six days after top Chinese officials secretly determined they likely were facing a pandemic from a new coronavirus, the city of Wuhan at the epicenter of the disease hosted a mass banquet for tens of thousands of people; millions began traveling through for Lunar New Year celebrations. Read Here – APNews
In the fight against the COVID-19 pandemic, national responses are vital, but in the medium term, international cooperation will be our best weapon. And reforming and reinforcing the institutions and mechanisms that underpin such cooperation will be our best defense against future global threats. Read Here – Project Syndicate
Despite the obvious public health benefits of suspending the umrah and hajj, Saudi Arabia will pay a heavy cost for its prudence. Pilgrims bring in billions of dollars to the country every year, so the Saudi economy will suffer as long as the crisis lasts. Another loss is less quantifiable, but just as significant: pilgrimage […]
looking beyond borders 