Climate Change Could Cut World Economy by $23 Trillion in 2050

Poor nations would be particularly hard hit, but few would escape, Swiss Re said. The findings could influence how the industry prices insurance and invests its mammoth portfolios.

#biden-joseph-r-jr, #economic-conditions-and-trends, #global-warming, #greenhouse-gas-emissions, #swiss-re-a-g

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Climate Change Could Cut World Economy by $23 Trillion in 2050, Insurance Giant Warns

Poor nations would be particularly hard hit, but few would escape, Swiss Re said. The findings could influence how the industry prices insurance and invests its mammoth portfolios.

#economic-conditions-and-trends, #global-warming, #greenhouse-gas-emissions, #swiss-re-a-g

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‘We Were Left With Nothing.’ Argentina’s Misery Deepens in the Pandemic.

The economy contracted by nearly 10 percent last year, and the country faces a reckoning with the I.M.F. over $45 billion in debts.

#argentina, #blackrock-inc, #coronavirus-2019-ncov, #credit-and-debt, #economic-conditions-and-trends, #fernandez-alberto-1959, #georgieva-kristalina-ivanova, #inflation-economics, #international-monetary-fund, #international-trade-and-world-market, #macri-mauricio, #politics-and-government, #poverty, #recession-and-depression, #united-states

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How Can the City of London Survive Brexit?

Other European cities are eating away at Britain’s edge in financial services. The government is trying to find ways to keep it.

#banking-and-financial-institutions, #deliveroo-roofoods-ltd, #economic-conditions-and-trends, #great-britain, #great-britain-withdrawal-from-eu-brexit, #hill-jonathan-hopkin-1960, #initial-public-offerings, #international-trade-and-world-market, #london-england, #london-stock-exchange, #special-purpose-acquisition-companies-spac, #stocks-and-bonds

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John Williamson, 83, Dies; Economist Defined the ‘Washington Consensus’

A careful pragmatist, he regretted the way his term, aimed at developing countries, was misinterpreted by free-market ideologues and anti-globalization activists.

#deaths-obituaries, #economic-conditions-and-trends, #peterson-peter-g-institute-for-international-economics, #politics-and-government, #third-world-and-developing-countries, #united-states-economy, #williamson-john-1937-2021

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Covid-19 Pushes India’s Middle Class Toward Poverty

The pandemic sent 32 million people in India from the middle class last year. Now a second wave is threatening the dreams of millions more looking for a better life.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #income-inequality, #india, #labor-and-jobs, #poverty, #shutdowns-institutional, #unemployment, #wages-and-salaries

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China’s First Quarter Growth is Expected to Boom on Paper

The world’s traditional growth engine is expected to report a double digit first-quarter jump. But consumers and small business aren’t fully sharing in the spoils.

#china, #consumer-behavior, #coronavirus-2019-ncov, #economic-conditions-and-trends, #factories-and-manufacturing, #infrastructure-public-works, #labor-and-jobs, #lunar-new-year, #politics-and-government, #small-business

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John Naisbitt, Business Guru and Author of ‘Megatrends,’ Dies at 92

His book, published in 1982 amid a brutal recession, foretold of a bountiful postindustrial information economy. He was half right.

#books-and-literature, #deaths-obituaries, #economic-conditions-and-trends, #megatrends-ten-new-directions-transforming-our-lives-book, #naisbitt-john, #writing-and-writers

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Some Pubs and Shops Reopen in England, Raising Hopes for Economic Recovery

The pandemic has left Britain with deep economic wounds, but “Monday is a really positive start.”

#coronavirus-2019-ncov, #coronavirus-reopenings, #economic-conditions-and-trends, #england, #great-britain, #london-england, #shopping-and-retail, #shutdowns-institutional

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The Biden Boom Is Already Wild

When lots of money is sloshing around, culture changes.

#computers-and-the-internet, #economic-conditions-and-trends, #news-and-news-media, #nonfungible-tokens-nfts, #real-estate-and-housing-residential, #substack-inc, #united-states-economy

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As U.S. Prospects Brighten, Fed’s Powell Sees Risk in Global Vaccination Pace

Some countries are lagging behind in vaccinations, and policymakers warned that no economy is secure until the world is safe from coronavirus variants.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #federal-reserve-system, #georgieva-kristalina-ivanova, #income-inequality, #international-monetary-fund, #labor-and-jobs, #powell-jerome-h, #stimulus-economic, #united-states-economy, #united-states-politics-and-government, #vaccination-and-immunization

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Robert A. Mundell, a Father of the Euro and Reaganomics, Dies at 88

His insights on global finance earned him a Nobel, while his more iconoclastic theories fostered the adoption of a single European currency and supply-side economics.

#canada, #colleges-and-universities, #currency, #deaths-obituaries, #economic-conditions-and-trends, #europe, #international-trade-and-world-market, #mundell-robert, #nobel-prizes, #united-states-economy

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Climbers Return to Mt. Everest Despite Covid-19

Nepal, desperate for tourist money, says it has taken steps to prevent a coronavirus outbreak, including social distancing at base camp and evacuation plans in case Covid-19 flares up.

#accidents-and-safety, #coronavirus-2019-ncov, #deaths-fatalities, #economic-conditions-and-trends, #himalayas, #mount-everest, #mountaineering, #mountains, #nepal, #unemployment

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China’s New Rules Worry Foreign Banks and Companies

New rules, aimed at taming big money flows and possibly controlling the Chinese currency, could give domestic rivals a competitive edge and make international firms more dependent on local lenders.

#banking-and-financial-institutions, #china, #credit-and-debt, #currency, #economic-conditions-and-trends, #foreign-investments, #international-relations, #international-trade-and-world-market, #politics-and-government, #regulation-and-deregulation-of-industry, #renminbi-currency, #stocks-and-bonds, #united-states-international-relations

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What the History of Pandemics Can Teach Us About Resilience

Widespread disease outbreaks have the potential to shock societies into new ways of living.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #england, #epidemics, #europe, #history-academic-subject, #income-inequality, #south-africa

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The Stuck Container Ship on the Suez Canal Was a Metaphor

Long-distance supply chains hide costly risks — and those risks may help usher in a new stage of global commerce.

#economic-conditions-and-trends, #international-trade-and-world-market, #ships-and-shipping, #suez-canal

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Tropical Forest Destruction Accelerated in 2020

There were bright spots, but the total lost acreage increased by 12 percent over all from the year before, according to new research.

#agriculture-and-farming, #amazon-jungle, #biodiversity, #brazil, #coronavirus-2019-ncov, #economic-conditions-and-trends, #forests-and-forestry, #global-warming, #greenhouse-gas-emissions, #indonesia, #logging-industry, #pantanal-brazil, #rural-areas, #wildfires, #world-resources-institute

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Suez Canal Is Open, but the World is Still Full of Giant Container Ships

As global trade has grown, shipping companies have steadily increased ship sizes — but the Suez Canal blockage showed that bigger is not always better.

#a-p-moller-maersk, #canals, #china, #economic-conditions-and-trends, #maersk-line, #mergers-acquisitions-and-divestitures, #panama-canal-and-canal-zone, #ships-and-shipping, #suez-canal, #united-states

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How Sanctions Hurt Iranian Women

The decimation of the economy since the U.S. left the nuclear deal is crippling the people who have been working for reform.

#biden-joseph-r-jr, #economic-conditions-and-trends, #embargoes-and-sanctions, #iran, #iranian-rial-currency, #pompeo-mike, #united-states-international-relations, #women-and-girls, #womens-rights

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China, With $400 Billion Iran Deal, Could Deepen Influence in Mideast

The countries signed a sweeping pact on Saturday that calls for heavy Chinese investments in Iran over 25 years in exchange for oil — a step that could ease Iran’s international isolation.

#china, #economic-conditions-and-trends, #embargoes-and-sanctions, #iran, #united-states-international-relations

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India’s Farm Subsidies Lead to Waste but Support Millions

In a country plagued with malnutrition, government support has led to wasted crop surpluses. But with jobs lacking, many feel they have little choice but to work the land.

#agriculture-and-farming, #crop-controls-and-subsidies, #economic-conditions-and-trends, #grain, #india, #international-trade-and-world-market, #irrigation, #labor-and-jobs, #modi-narendra, #prices-fares-fees-and-rates, #punjab-pakistan, #rationing-and-allocation-of-resources, #rice

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Will Israel’s Strong Vaccination Campaign Give Netanyahu an Election Edge?

Prime Minister Benjamin Netanyahu is banking on voters crediting him for beating the pandemic. But many worry that the country’s reopening may be premature and politically driven.

#coronavirus-2019-ncov, #coronavirus-reopenings, #disease-rates, #economic-conditions-and-trends, #elections, #israel, #lapid-yair, #likud-party-israel, #netanyahu-benjamin, #pfizer-inc, #politics-and-government, #polls-and-public-opinion, #shutdowns-institutional, #vaccination-and-immunization

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Why Biden’s China Policy Faces an Obstacle in Germany

The city of Taicang illustrates the tight ties between the countries — and how difficult it could be for President Biden to win allies in his campaign to isolate Beijing.

#china, #economic-conditions-and-trends, #factories-and-manufacturing, #foreign-investments, #germany, #international-trade-and-world-market, #shanghai-china, #swabia-germany

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Rising to the Challenge of China

To counter Beijing’s growing economic and military might, the United States must get its own house in order.

#biden-joseph-r-jr, #china, #economic-conditions-and-trends, #endless-frontiers-act, #international-trade-and-world-market, #semiconductor, #taiwan, #tariffs, #trump-donald-j, #united-states-economy, #united-states-international-relations

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‘I Have No Money for Food’: Among the Young, Hunger Is Rising

In France and across Europe, more students are facing food insecurity as the pandemic enters its second year, and job cuts in their families take a widening toll.

#colleges-and-universities, #coronavirus-2019-ncov, #economic-conditions-and-trends, #food-aid, #food-banks-and-pantries, #food-insecurity, #france, #humanitarian-aid, #les-restaurants-du-coeur, #paris-france, #youth

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China’s Climate Ambitions Collide with its Coal Addiction

Beijing’s new development blueprint is meant to steer the country to carbon neutrality before 2060, but companies and regions dependent on the fossil fuel aren’t making it easy.

#alternative-and-renewable-energy, #carbon-dioxide, #china, #coal, #economic-conditions-and-trends, #greenhouse-gas-emissions, #national-energy-administration-china, #xi-jinping

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Europe Struggles to Defend Itself Against a Weaponized Dollar

Despite warm words from Biden, U.S. secondary sanctions against Iran, Russia and others punish European companies and prompt new calls for strategic autonomy.

#biden-joseph-r-jr, #borrell-fontelles-josep, #economic-conditions-and-trends, #embargoes-and-sanctions, #euro-currency, #europe, #european-union, #international-relations, #international-trade-and-world-market, #politics-and-government, #trump-donald-j, #united-states-international-relations, #us-dollar-currency

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Seattle’s Virus Success Shows What Could Have Been

The Seattle area once had more coronavirus deaths than anywhere else in the United States. A year later, the region’s deaths per capita are lower than any other large metropolitan area.

#coronavirus-2019-ncov, #coronavirus-reopenings, #disease-rates, #economic-conditions-and-trends, #king-county-wash, #seattle-wash, #washington-state

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What Can Biden’s Plan Do for Poverty? Look to Bangladesh.

As that nation turns 50, its surprising success offers lessons about investing in the most marginalized.

#american-rescue-plan-2021, #bangladesh, #biden-joseph-r-jr, #children-and-childhood, #economic-conditions-and-trends, #education-k-12, #politics-and-government, #poverty, #united-states, #united-states-economy

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Move Over, Nerds. It’s the Politicians’ Economy Now.

Leaders of both parties have become willing to act directly to extract the nation from economic crisis, taking that role back from the central bank.

#american-rescue-plan-2021, #coronavirus-aid-relief-and-economic-security-act-2020, #economic-conditions-and-trends, #federal-reserve-system, #law-and-legislation, #quantitative-easing, #united-states-economy, #united-states-politics-and-government

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China’s Plan to Win in a Post-Pandemic World

The message at the National People’s Congress was one of optimism about the strength of its economy and of struggle against an array of internal and external challenges.

#china, #communist-party-of-china, #coronavirus-2019-ncov, #defense-and-military-forces, #economic-conditions-and-trends, #politics-and-government

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China Sets Economic Growth Target of ‘Over 6 Percent’ This Year

Beijing’s goal bodes well for the global economy, suggesting that China is willing to free up money to keep its engine humming.

#china, #economic-conditions-and-trends, #international-trade-and-world-market, #li-keqiang, #politics-and-government

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India’s Economy Exits Deep Recession as Fledgling Recovery Strengthens

Economic output grew 0.4 percent in the third quarter, but the recovery is uneven, with small businesses facing the brunt of the downturn.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #gross-domestic-product, #india

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Biden Readies Executive Order to Bolster Critical Supply Chains

The order is intended to start an effort to insulate the American economy from future shortages of critical imported components.

#5g-wireless-communications, #biden-joseph-r-jr, #china, #coronavirus-2019-ncov, #economic-conditions-and-trends, #factories-and-manufacturing, #international-trade-and-world-market, #schumer-charles-e, #shortages, #united-states, #united-states-economy, #united-states-politics-and-government

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Having Won Syria’s War, al-Assad Is Mired in Economic Woes

After a decade of war, the biggest threat now to President Bashar al-Assad is an economic crisis. But at a recent meeting, he had no concrete solutions to his country’s extreme distress.

#assad-bashar-al, #bread, #coronavirus-2019-ncov, #damascus-syria, #economic-conditions-and-trends, #embargoes-and-sanctions, #foreign-aid, #hair, #international-trade-and-world-market, #israel, #politics-and-government, #power-failures-and-blackouts, #syria, #war-and-armed-conflicts, #world-food-program

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When the Bill Comes Due in Europe, ‘How Are We Going to Pay for All This?’

Pandemic aid has cushioned workers and businesses from a severe recession. But as governments face trillions in debt, there’s no rush to rein it in.

#coronavirus-2019-ncov, #credit-and-debt, #economic-conditions-and-trends, #europe, #france, #interest-rates, #le-maire-bruno, #recession-and-depression, #stimulus-economic

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Japan’s Economy Surges, but Covid-19 Looms

The world’s third largest economy capped off a terrible year with a sharp rise in activity. Still, analysts say trouble lies ahead.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #gross-domestic-product, #international-trade-and-world-market, #japan

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With the Economy on the Ropes, Hungary Goes All In on Mass Vaccination

Hungary became the first European Union country to administer Russia’s Sputnik vaccine, and will soon start with one from China — posing a challenge to the bloc’s joint vaccination strategy.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #european-union, #hungary, #orban-viktor, #politics-and-government, #vaccination-and-immunization

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India and China Use Covid Vaccines as Diplomacy Tools

India, China, the U.A.E. and others dole out donations in countries where they seek sway. In some cases, they are sending doses despite pressing needs at home.

#china, #coronavirus-2019-ncov, #economic-conditions-and-trends, #india, #serum-institute-of-india, #stockpiling, #third-world-and-developing-countries, #united-arab-emirates, #vaccination-and-immunization

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In Canada, Americans Are Missed, With Limits

U.S. visitors usually mean big business for Canada’s tourism industry. But the pandemic has blunted lonesomeness for the country’s best friend.

#airbnb, #canada, #coronavirus-2019-ncov, #culture-arts, #economic-conditions-and-trends, #hotels-and-travel-lodgings, #joe-beef-montreal-quebec-restaurant, #musee-dart-contemporain-de-montreal, #museums, #music, #restaurants, #stratford-shakespeare-festival, #theater, #travel-and-vacations

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The Clash of Liberal Wonks That Could Shape the Economy, Explained

They all agree pandemic aid is warranted, but the question is how big and how quickly.

#biden-joseph-r-jr, #economic-conditions-and-trends, #inflation-economics, #recession-and-depression, #stimulus-economic, #summers-lawrence-h, #united-states-economy

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A Surprise in Africa: Air Pollution Falls as Economies Rise

Air quality is improving in one of the continent’s fastest-growing regions, researchers have found. If the trend can be sustained, it would be good news for human health and climate change.

#africa, #agriculture-and-farming, #air-pollution, #alternative-and-renewable-energy, #economic-conditions-and-trends, #global-warming, #greenhouse-gas-emissions, #pnas-journal, #research, #wildfires

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West Virginia Has Everyone’s Attention. What Does It Really Need?

With the right federal response, it could become a model of renewal for other places around the country that prosperity has left behind.

#area-planning-and-renewal, #economic-conditions-and-trends, #federal-aid-us, #income-inequality, #infrastructure-public-works, #manchin-joe-iii, #rural-areas, #stimulus-economic, #west-virginia

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HNA Was Once China’s Biggest Dealmaker. Now It Faces Bankruptcy.

China is tightening the reins on its economy and looking out for companies that could pose risks to China’s financial system.

#bankruptcies, #chen-feng-1953, #china, #economic-conditions-and-trends, #hna-group-co-ltd, #politics-and-government, #regulation-and-deregulation-of-industry

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Margaret C. Snyder, the U.N.’s ‘First Feminist,’ Dies at 91

Inspired by her liberal Roman Catholic upbringing, she refocused the organization’s development efforts to include women’s empowerment.

#africa, #deaths-obituaries, #economic-conditions-and-trends, #humanitarian-aid, #snyder-margaret-c, #united-nations, #women-and-girls, #womens-rights

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Power, Patriotism and 1.4 Billion People:How China Beat the Virus and Roared Back

The Chinese Communist Party reached deep into private business and the broader population to drive a recovery, an authoritarian approach that has emboldened its top leader, Xi Jinping.

#china, #communist-party-of-china, #coronavirus-2019-ncov, #coronavirus-risks-and-safety-concerns, #disease-rates, #economic-conditions-and-trends, #international-trade-and-world-market, #politics-and-government, #quarantines, #sinovac-biotech-ltd, #xi-jinping

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Mario Draghi Saved the Euro. Can He Now Save Italy?

Mario Draghi has broad support as he tries to form a new government and restore Italy’s credibility and clout in Brussels. But Italian politics is a dangerous place for an enigmatic technocrat.

#bank-of-italy, #banking-and-financial-institutions, #conte-giuseppe, #credit-and-debt, #draghi-mario, #economic-conditions-and-trends, #economics-theory-and-philosophy, #euro-currency, #european-central-bank, #european-union, #eurozone, #italy, #legislatures-and-parliaments, #politics-and-government

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Nature Doesn’t Get a Paycheck. Now, There’s a Movement to Change That.

Ignoring the value of nature threatens humanity itself, according to a new British report on biodiversity and economics.

#biodiversity, #conservation-of-resources, #dasgupta-partha, #economic-conditions-and-trends, #environment, #global-warming, #great-britain

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Myanmar’s Army Is Back in Charge. It Never Truly Left.

With the coup, the generals are ripping apart their prized project: a democratic front for a political system that still heavily favored them.

#aung-san-suu-kyi, #coups-detat-and-attempted-coups-detat, #defense-and-military-forces, #economic-conditions-and-trends, #embargoes-and-sanctions, #min-aung-hlaing, #myanmar, #national-league-for-democracy-myanmar, #politics-and-government, #tatmadaw-myanmar

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Europe’s Slow Pace of Vaccinations Opens Door to Recession

A double-dip recession in the European Union appears likely after the trade bloc reported a decline in economic output in the last quarter of 2020.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #europe, #european-union, #eurozone, #gross-domestic-product, #recession-and-depression, #vaccination-and-immunization

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