A series of grim economic numbers from China have given the world a glimpse of what might lie ahead, as countries embark on draconian coronavirus containment measures. The Chinese economy went into free fall over the first two months of the year, data released on Monday showed, with industry, retail and investment all shrinking for […]
It took COVID-19 several weeks to mass migrate from China to Europe, but the continent is now awash in the virus. The pandemic has fully arrived in Italy and Spain. Other nations await the disease, hoping to slow its spread. It will kill many Europeans. It also might kill the European Union, at least the […]
How long the COVID-19 crisis will last, and what its immediate economic costs will be, is anyone’s guess. But even if the pandemic’s economic impact is contained, it may have already set the stage for a debt meltdown long in the making, starting in many of the Asian emerging and developing economies on the front […]
It was a somber Donald Trump who spoke at the White House today to declare a “national emergency” and that “we’re doing a great job.” Gone was his language about exaggerated fears and a “hoax” surrounding the coronavirus. His own daughter, Ivanka, stayed home rather than visit the White House because of her exposure to […]
The combination of a coronavirus-induced growth slowdown and worldwide financial panic means that a global recession this year is virtually certain. But recession might soon be the least of our worries…As long as US President Donald Trump remains in office, it is difficult to envisage any credible international effort to resolve the financial crisis caused […]
Iran said it had asked the IMF for its first loan since the time of the Shah to combat a coronavirus outbreak that has claimed 429 lives and infected more than 10,000 people. Foreign Minister Mohammad Javad Zarif announced the request on Twitter, calling on the International Monetary Fund to “stand on the right side […]
When a new disease first took hold in Wuhan, the Chinese authorities did not have the luxury of advanced notice. America, by contrast, had the luxury of several weeks’ notice. Yet the crucial early weeks when it could have prepared for the spread of the disease were squandered, in a country with some of the […]
Hailing “victory to Wuhan” and saluting its people as heroes, Chinese President Xi Jinping used his first trip to the epicentre of the coronavirus outbreak to signal that China had turned the tide in its battle against the deadly disease. The much-anticipated visit – about three months after first cases were reported in the provincial […]
Ever since the coronavirus exploded outside of China at the end of January, Donald Trump has treated the public health crisis as a media war that he could win with the right messaging. But with cases now documented in 34 states and markets plunging, Republicans close to Trump fear his rosy assessments are fundamentally detached […]
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 […]
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