In The News

Coronavirus Roils Global Stock Markets: CNBC

Elliot Smith January 28, 2020
The rapid spread of a new coronavirus has alarmed investors, contributing to a decline in stock markets worldwide. China reports more than 2,800 cases with more than 100 deaths. For now, analysts anticipate a short-term hit for China’s economy, but much depends on how fast public health officials can contain the epidemic. “Danske Bank analysts projected that the Chinese service sector is likely...

Optimistic CEOs at Davos: Wall Street Journal

Chip Cummins and Marie Beaudette January 28, 2020
The World Economic Forum at Davos attracts world leaders, CEOs and celebrities every January to discuss economic trends. Despite some pessimistic forecasts on economic growth, the CEOs attending the 2020 forum remain optimistic about global economy for the most part, with the United States and China having signed phase one of a trade deal - offering greater certainty for economies. In addition,...

Restoring US Fiscal Order: Project Syndicate

John B. Taylor January 25, 2020
The United States is weakening its future capability with unsustainable federal spending. The US budget deficit exceeded $1 trillion for the most recent fiscal yea, and the Congressional Budget Office anticipates the federal debt as a share of GDP increasing to at least 144 percent by 2049, and possibly higher. “The large deficit will crowd out important federal programs, including needed...

World Bank Warns of Global Debt Crisis: Guardian

Larry Elliott January 9, 2020
Global economic growth continues, fueled by low interest rates and increasing debt. The high interest rates make debt more manageable, but may not stave off financial crisis. “Total emerging and developing economy debt reached almost 170% of gross domestic product in 2018 – or $55tn (£42tn) – an increase of 54 percentage points of GDP since 2010,” reports Larry Elliott for the Guardian. “The...

Global Green Revolution for Africa: Guardian

Jillian Ambrose December 28, 2019
Africa is set to spearhead “the world’s cleanest economic revolution by using renewable energy sources to power a massive spread of urbanisation,” according to a recent report by the International Energy Agency. As a recent Guardian article confirms, according to the IEA, solar energy will power the continent’s population and industrial growth over the coming decades. Although the continent has...

Slowbalization: Lobe Log

John Feffer December 25, 2019
The slow food movement – relaxing, eating local, focus on tradition – has influenced slowness in other areas of life including education and travel. “To a world addicted to ever greater connection speeds, ever faster modes of transportation, and ever more caffeinated feats of multitasking, the go-slowers recommend a perverse resistance to the frenzied scherzo of modern life in favor of a more...

Lebanon and Syria Sinking in Debt: The Economist

December 23, 2019
Effects of Lebanon’s recent political and economic crisis, stemming from a drop in remittances and bank deposits, have spilled over into Syria. The two nation’s economies have been intertwined for some time. Following the Lebanese civil war (1975-90), Syrian workers helped rebuild the war-torn country. Lebanese banks were once “a safe place for wealthy Syrians to park their cash [and] since the...