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. Read Here | Foreign Affairs
The COVID-19 pandemic appears to have awakened the continent from its decades-long economic and political slumber and reinvigorated the EU integration project in ways that were unimaginable just six months ago… This crisis may forge a Europe that is more confident and more assertive on the world stage—one that will help strengthen and define the […]
Modern Arab societies such as Egypt and Saudi Arabia have long struggled to reconcile the claims of state and religion. For some autocrats in the Middle East, religion offers a source of legitimacy. But religious authority also competes with state authority and can give courage and structure to opposition movements in these states. COVID-19 has […]
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, […]
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 […]
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 […]
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
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
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 […]
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 […]
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