Emerging and developing economies are viewing rising interest rates with trepidation. Most of them are facing a slower economic recovery than advanced economies because of longer waits for vaccines and limited space for their own fiscal stimulus. Now, capital inflows to emerging markets have shown signs of drying up. Read Here | IMF Blog
Recessions wreak havoc and the damage is often long-lived. Businesses shut down, investment spending is cut, and people out of work can lose skills and motivation as the months stretch on. But the recession brought on by the COVID-19 pandemic is no ordinary recession. Compared to previous global crises, the contraction was sudden and deep—using quarterly […]
The global economy is set to grow by 4.7% this year, faster than predicted in September (4.3%), thanks in part to a stronger recovery in the United States, where progress in distributing vaccines and a fresh fiscal stimulus of $1.9 trillion are expected to boost consumer spending, says a new UNCTAD report. But this will still […]
A new Pew Research Center analysis finds that the global middle class encompassed 54 million fewer people in 2020 than the number projected prior to the onset of the pandemic. Meanwhile, the number of poor is estimated to have been 131 million higher because of the recession. The drop-off in the global middle class was […]
The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance. Japan is back to planning the delayed 2020 Summer Olympics, while China focuses on the Beijing 2022 Winter Games. Having been hit by COVID-19 first, Asia is also recovering first. At the pandemic’s […]
The accelerating rollout of COVID-19 vaccines in many advanced economies has set the stage for rapid recovery in the second half of this year and into 2022. Although growth in digital and digitally enabled sectors will level out somewhat, high-employment service industries will ride a wave of pent-up demand. Read Here | Project Syndicate
As countries scramble to secure supplies in the face of “vaccine apartheid,” India has enhanced its global standing by making vaccines that are readily available in the world’s poorest countries. This effort may one day help India secure recognition as a global power – with a permanent UN Security Council seat to go with it. […]
President Joe Biden spent the first months of his presidency hunkered down as he worked on getting more vaccines into people’s arms and a massive bill to deal with the pandemic to his desk. With that $1.9 trillion legislation set to clear Congress and the pace of vaccinations picking up, the White House is preparing […]
Health-related development assistance has long offered Chinese pharmaceutical companies a low-cost means of expanding their market share in the developing world. In March 2020, President Xi explicitly linked the shipment of medical supplies overseas to the “Health Silk Road,” now an important component of the Belt and Road Initiative. Read Here | Foreign Affairs
One year into the COVID-19 pandemic, the world has seen death, economic hardship and anxiety on an unprecedented scale. But it has also witnessed self-sacrifice, courage and perseverance. In India, Brazil, South Africa and other places around the globe, people are helping others and reinventing themselves. Read Here | APNews
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