In The News

Saudi Arabia Imposes Austerity Measures: WSJ

Stephen Kalin and Donna Abdulaziz May 11, 2020
Countries around the world have their hands full responding to the Covid-19 pandemic and cannot afford missteps in other areas. In early March, OPEC nations failed to reach agreement with non-OPEC nations to limit oil production, and Saudi Arabia responded by opening the pumps, forcing prices to plummet. The oil producers later reached agreement to limit production, but it was too late. Two...

China Could Cut US Debt Holdings: SCMP

Karen Yeung May 7, 2020
As tensions between the United States and China rise, analysts point out that China could reduce its holdings of US treasury securities. The United States borrows heavily to pay for its Covid-19 response, and the administration blames China for the pandemic. News reports suggest that some US officials have questioned if the $1 trillion in debt owed to China could be cancelled. Such an extreme...

Unprecedented Isolation: El País

Moisés Naím May 6, 2020
Covid-19 confounds humans with its exponential growth and cases doubling in increasingly shorter periods of time, resulting in steep curve. The United States responded swiftly on the economic front, approving more than $2 trillion in stimulus spending. Still, the largest economic stimulus package in history won’t prevent economic recession, job losses, bankruptcies and evictions. All countries...

Tragedy Knocking at Latin America’s Door: Este Pais

Ernesto Zedillo Ponce de León May 4, 2020
The health and economic shocks of Covid-19 could surpass any challenge of the previous century for Latin America and the Caribbean. Mixed responses – some swift and efficient with a focus on saving lives; others incompetent and political – could devastate the region. With global economic interdependence or not, governments must contend with errors made by other countries. Too many leaders around...

Inevitable “Greater Depression”? Project Syndicate

Nouriel Roubini April 29, 2020
Tackling problems swiftly, well in advance, tends to produce better results than waiting for crisis. After the 2007-08 crisis, governments failed to address imbalances and other structural problems. Nouriel Roubini, writing for Project Syndicate, anticipates a lingering depression throughout the decade due to economic risks long in play combined with an uneven pandemic response. He identifies 10...

Nations Gradually Reopen Business: Washington Post

Rick Noack and Loveday Morris April 24, 2020
Several countries plan to ease coronavirus restrictions, implying the cautious optimism that life may return to normality. Germany, which took effective measures early, is slowly reopening businesses even though some scientists argue that the country should keep the restriction policy until tracking cases becomes easier, a strategy allowing for a greater degree of freedom in the long term....

World After Covid-19: The Economist

Kishore Mahbubani April 23, 2020
Kishore Mahbubani, founding dean of the Lee Kuan Yew School of Public Policy, has long observed that the era of Western domination is ending. The Covid-19 pandemic hurries the demise and marks the start of an Asian century. “The crisis highlights the contrast between the competent responses of East Asian governments (notably China, South Korea and Singapore) and the incompetent responses of...