“China emerged from the Covid-19 shock earlier than the rest of the world and authorities are already planning for the long term,” wrote Françoise Huang, senior economist for Asia-Pacific at Euler Hermes, in a report last week titled, “The world is moving East, fast.” President Xi Jinping has already made it clear that he sees […] More
As head of the Treasury, she’ll be tasked with shepherding President Joe Biden’s $1.9 trillion American Rescue Plan through Congress and overseeing its execution. The plan includes $1,400 stimulus checks, expanded unemployment benefits, and increased funding for Covid-19 vaccinations and testing. During her confirmation hearing last week, Yellen defended the size and scope of the […] More
More than a decade is how long it could take the world’s poorest to recover, according to Oxfam International’s annual inequality report. The report, released on Sunday ahead of the World Economic Forum’s virtual meeting of political and financial leaders, typically held in Davos, Switzerland, lays out the virus’ disparate impact around the globe. The […] More
Anti-poverty campaigner Oxfam warned Monday that the fallout of the coronavirus pandemic will lead to the biggest increase in global inequalities on record unless governments rejig their economies By PAN PYLAS Associated Press January 25, 2021, 12:01 AM • 3 min read LONDON — Anti-poverty campaigner Oxfam warned Monday that the fallout of the coronavirus […] More
Tunisia is extending its virus curfew and banning demonstrations for three weeks as it tries to stem a rapid rise in infections By BOUAZZA BEN BOUAZZA Associated Press January 23, 2021, 3:30 PM • 3 min read Share to FacebookShare to TwitterEmail this article TUNIS, Tunisia — Tunisia is extending its virus curfew and banning […] More
Mongolia’s prime minister has resigned following a protest over a hospital’s treatment of a new mother who tested positive for the coronavirus By GANBAT NAMJILSANGARAV Associated Press January 22, 2021, 5:14 AM • 2 min read ULAANBAATAR, Mongolia — Mongolia’s prime minister has resigned following a protest over a hospital’s treatment of a new mother […] More
From a grueling trade war to a slew of sanctions on the country’s most prominent tech companies, the Trump administration spent the bulk of the last four years piling pressure on the United States’ biggest economic rival. Things only became more heated in recent weeks as Washington slapped additional restrictions on Chinese business and investment. […] More
The European Central Bank is confronting more economic gloom By DAVID McHUGH AP Business Writer January 21, 2021, 7:00 AM • 3 min read FRANKFURT, Germany — The European Central Bank is looking at a darkening picture for the economy as infections and deaths surge. With more than a trillion euros of pandemic stimulus still […] More
Piles of plush carpets line the floors of a shopping center in northern Iraq hosting traders from neighboring Iran By RASHID YAHYA and SAMYA KULLAB Associated Press January 21, 2021, 6:19 AM • 4 min read DOHUK, Iraq — Piles of plush carpets line the floors of a northern Iraq shopping center hosting traders from […] More
“If we look back and think this plan was too big, that would be a regret that would be fine to live with,” Jason Furman, one of the architects of the 2009 stimulus plan, told CNN Business. Furman, a former top economic aide to Obama, recalled that the team wanted a $1 trillion stimulus package […] More
A humanitarian organization says some 10 million children in war-ravaged Afghanistan are at risk of not having enough food to eat in 2021, and is calling for more than a billion in new funds for aid By RAHIM FAIEZ Associated Press January 19, 2021, 11:44 AM • 4 min read Share to FacebookShare to TwitterEmail […] More
The world’s second largest economy expanded 2.3% in 2020 compared to a year earlier, according to government statistics released Monday. It’s China’s slowest annual growth rate in decades — not since 1976 has the country had a worse year, when GDP shrunk 1.6% during a time of social and economic tumult. But during a year […] More
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