In The News

Anticipate Another Global Depression? FT

June 6, 2020
High employment rates accompany the Covid-19 pandemic and lockdowns. Global economists assessed the possibility of economic depression for the Financial Time. Full recovery depends on availability of treatments and vaccines and maintenance of trust. Robert Zoellick, former World Bank president, reminds that the 1930s Great Depression caused more than economic pain: “It metastasised to a loss of...

Plunged Global Factory Output: Wall Street Journal

Paul Hannon and Tom Fairless May 7, 2020
Investors and policymakers regard the Manufacturing Purchasing Managers Index, or PMI, as a leading indicator of economic activities. PMI above 50.0 implies a rise in activities, offering an optimistic forecast while a reading below that shows economic decline. With the wide spread of COVID-19 around the world and more countries joining the lockdown, PMI witnessed a sharp drop in April. In India...

COVID-19 Hits No-Degree Workers: Guardian

Kalyeena Makortoff April 26, 2020
Up to 52 million jobs in Europe are at risk during the pandemic for workers without a university degree, possibly leading to increased social inequality. They may face cuts to hours or pay, temporary furloughs, or permanent layoffs. Workers most at risk include those who work in close proximity to others such as retail staff, cooks and construction workers, while safer jobs consist of those who...

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....

Bloomberg: Global Economy Feels Lehman Fallout 10 Years Later

Simon Kennedy and Sam Dodge September 17, 2018
Investments in subprime mortgages and the collapse of Lehman Brothers contributed to the 2008 financial crisis with global economic and political fallout due to stalled growth and increased government intervention. The consequences linger today worldwide with increased debt, wage stagnation, widening inequality and lingering unemployment in some nations. “The deepest international recession since...

Lace Capital Riven by French Politics: NYT

Liz Alderman May 1, 2017
Technology, changing fashions, competition in Asia combined with the European Union ending textile import quotes in 2005, eroded jobs in the lace industry, reports Liz Alderman for the New York Times. “From steel mills to auto factories, the loss of hundreds of thousands of jobs to globalization has created social distress – and competing visions from the candidates about how to fix it,” Alderman...

The New New World

June 13, 2013
As the debt crisis lingers in Europe, many countries cease to be magnets for mobile hands and brains. Confronting high unemployment rates at home, Europeans are shedding a fear of relocation, and new talent is heading toward developing countries with fast-growing economies like Mexico and Brazil. According to the World Bank, remittances from Brazil to Portugal are now greater than those from...