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Archive for the tag “Economy”

Chinese Billionaires’ 2020 Fortunes Grow By The Size Of Russia’s Economy

The Covid-19 pandemic has not stopped Chinese billionaires from getting even richer. A stock market boom and a flurry of new listings has further boosted their fortunes, according to the latest Hurun China Rich List. The super-rich – with wealth of at least 2 billion yuan (US$300 million) to make the list – added US$1.5 trillion to their collective nest eggs in the past year, equivalent to Russia’s annual economic output.

Read Here | South China Morning Post

China Is Now the World’s Largest Economy. We Shouldn’t Be Shocked.

China has now displaced the U.S. to become the largest economy in the world. Measured by the more refined yardstick that both the IMF and CIA now judge to be the single best metric for comparing national economies, the IMF Report shows that China’s economy is one-sixth larger than America’s ($24.2 trillion versus the U.S.’s $20.8 trillion). Why can’t we admit reality? What does this mean?

Read Here | The National Interest

A Long, Uneven And Uncertain Ascent

The COVID-19 pandemic continues to spread with over 1 million lives tragically lost so far. Living with the novel coronavirus has been a challenge like no other, but the world is adapting. As a result of eased lockdowns and the rapid deployment of policy support at an unprecedented scale by central banks and governments around the world, the global economy is coming back from the depths of its collapse in the first half of this year… This crisis is however far from over.

Read Here | IMF Blog

Thirty Glorious Years

How did western countries, in one quarter of the 20th century, manage to increase both equality and economic efficiency? Why did this virtuous combination ultimately fall apart by the end of the century? The answer lies in the awkward relationship between democracy and capitalism, the former founded on equal political rights, the latter tending to accentuate differences between citizens based on talent, luck or inherited advantage. 

Read Here | Aeon

Asia Buckles Up Or Wild US Election Ride

With the most chaotic US election in memory four weeks out, it’s safe to say Asia is not sure what to expect. Neither do Americans, of course. Not with Covid-19-addled President Donald Trump ready to do seemingly anything to cling to the White House. Trump is not just cheating in plain sight, he’s telegraphing lawsuits and manoeuvres to come to try to invalidate the results of an election that polls show he’s losing. For Asia, three big questions are hanging over both the geopolitical and investment communities.

Read Here | Asia Times

The Stock-Market Disconnect

The best explanation for why stock markets remain so bullish despite a massive recession is that major publicly traded companies have not borne the brunt of the pandemic’s economic fallout. But having been spared by the virus, they could soon find themselves squarely in the sights of a populist backlash.

Read Here | Project Syndicate

Four Scenarios For Geopolitical Order In 2025-2030: What Will Great Power Competition Look Like?

CSIS’s Risk and Foresight Group created four plausible, differentiated scenarios to explore the changing geopolitical landscape of 2025-2030, including the potential lasting first- and second-order effects of Covid-19. The scenarios center on the relative power and influence of the United States and China and the interaction between them, along with detailed consideration of other major U.S. allies and adversaries within each of four worlds.

Read Here | CSIS

The Greatest Generation’s Squandered Legacy

As profound as the COVID-19 crisis seems to us now, it pales in comparison to what previous generations faced. Unlike in the past, however, today’s biggest threats must be addressed at both the national and global levels, implying the need for political leadership of a kind that is utterly lacking in today’s world.

Read Here | Project Syndicate

What The West Needs From Modi

One of the most serious is that supporters of the Quad as an alignment of democracies do not necessarily admire India’s charismatic but controversial prime minister, Narendra Modi. From an international relations standpoint, it makes perfect sense for democracies to work together to balance and contain China. But democracies, by definition, have their own internal politics. And in the internal politics of the West, many see Modi as an anathema.

Read Here | Foreign Policy

What To Expect From Japan’s New Leader

Suga Yoshihide, the chief cabinet secretary throughout Abe’s record-long term, does not have a flashy image, nor a celebrity profile. But he is known as a tenacious political fighter, seeking to reform the LDP from within and to force through incremental but profound changes to the major institutions that control Japan’s society. He has warned that the bureaucratic structure of the civil service is hampering the government’s response to COVID-19.

Read Here | The Diplomat

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