looking beyond borders

foreign policy and global economy

Archive for the tag “pandemic”

Global Coronavirus Cases Top 20 million As Russia Approves Vaccine

The number of confirmed coronavirus cases worldwide topped 20 million, more than half of them from the United States, India and Brazil, as Russia on Tuesday became the first country to approve a vaccine against the virus. Russian President Vladimir Putin said that one of his two adult daughters had already been inoculated with the cleared vaccine, which he described as effective. “She’s feeling well and has a high number of antibodies,” Putin said.

Read Here – APNews

The End Of Saudi Arabia’s Ambitions

For the Middle East’s oil exporters, COVID-19 has been a triple whammy. Fuel prices have cratered, compounding the agonies of a global shutdown and a deadly viral outbreak. According to the International Monetary Fund, the crisis is the worst the Middle East has faced in the modern era. But for Saudi Arabia’s 34-year-old crown prince and de facto ruler, Mohammed bin Salman… the pandemic has been especially catastrophic.

Read Here – Foreign Affairs

The Pandemic Depression

The pandemic has created a massive economic contraction that will be followed by a financial crisis in many parts of the globe, as nonperforming corporate loans accumulate alongside bankruptcies. Sovereign defaults in the developing world are also poised to spike. This crisis will follow a path similar to the one the last crisis took, except worse, commensurate with the scale and scope of the collapse in global economic activity.

Read Here – Foreign Affairs

China’s Fiscal Dilemma

The Chinese government is likely to face a tricky economic policy choice in the second half of this year. If it loosens its fiscal stance, public finances will worsen significantly. But if it cuts expenditure to offset the pandemic-related revenue shortfall, growth will be lower, with dire consequences.

Read Here – Project Syndicate

East Asia’s New Edge

A deep determination to battle against great odds may explain why East Asia has so far responded much better to the COVID-19 pandemic than most Western countries. And if the region’s economies also recover faster, they may well offer a glimmer of hope to a world currently drowning in pessimism.

Read Here – Project Syndicate

A Historic EU Agreement – But For All The Wrong Reasons

It took four days of almost constant and uninterrupted negotiations, but in the end, a deal was made: EU leaders agreed on a roadmap out of the coronavirus economic crisis in the early hours of this morning, with the package predictably hailed as “historic” by almost all involved. Historic it might be, but that is hardly a positive development: instead, it will further intensify EU integration in areas where an “ever closer union” is unwise…

Read Here – CapX

China-Africa Trade Takes Big Hit From Coronavirus In First Half

Two-way trade between China and Africa fell 19.3 per cent in the first half of the year to US$82.37 billion as coronavirus ravaged economies and cut demand for commodities. China, one of the biggest importers of raw materials from Africa, including copper, cobalt and oil, cut its imports from the continent by 31 per cent while its exports to Africa fell by 8.3 per cent.

UK, US, Canada Accuse Russia Of Hacking Virus Vaccine Trials

Britain, the United States and Canada accused Russian hackers of trying to steal information from researchers seeking a coronavirus vaccine, warning scientists and pharmaceutical companies to be alert for suspicious activity. Intelligence agencies in the three nations alleged that the hacking group APT29, also known as Cozy Bear and said to be part of the Russian intelligence services, is attacking academic and pharmaceutical research institutions involved in COVID-19 vaccine development.

Read Here – APNews

The End Of Beijing’s Foreign Policy Restraint?

It is too early to tell with certainty, but China—imbued with crisis-stoked nationalism, confident in its continued rise, and willing to court far more risk than in the past—may well be in the middle of a foreign policy rethink that will reverberate around the world.

Read Here – Foreign Affairs

The Chinese Decade

It is quite extraordinary that a pandemic originating in a Chinese province, a disease whose initial cover-up briefly seemed likely to deal a grave blow to the Communist regime, has instead given China a geopolitical opportunity unlike any enjoyed by an American rival since at least the Vietnam War.

Read Here – The New York Times

Post Navigation

%d bloggers like this: