The World Trade Organization forecasts only a 9.2% decline in international trade this year before rebounding 7.2% next year. The public support measures made it possible in particular to avoid a darker scenario. Global trade should avert catastrophe. “International value chains and global trade have proven to be resilient,” said Robert Koopman, chief economist of the World Trade […]
Tag: World economy
Nagorno-Karabakh Conflict: Major Cities Under Attack
The second largest city in Azerbaijan, Ganja, has been attacked in the course of the conflict in Nagorno-Karabakh. The Azerbaijani Ministry of Defense speaks of a shelling by Armenian forces. Civilians are also believed to have been killed in the attacks. Military bases also Affected? The authorities of the self-proclaimed Nagorno-Karabakh Republic announced that their […]
IMF chief Georgieva says the world is in a recession, containment will dictate strength of recovery
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), speaks in Washington, D.C., on Oct. 16, 2019. Andrew Harrer | Bloomberg | Getty Images This is a developing story. Check back for updates. International Monetary Fund chief Kristalina Georgieva said Friday that the global economy is now in a recession thanks to COVID-19, but […]
Here’s everything the government has done to limit the economic impact
The federal government is racing to ease the pain facing the U.S. economy as the coronavirus pandemic makes its swift pivot from public health crisis to financial catastrophe. The damage from COVID-19, the disease caused by the new virus, is unlike anything in modern times. Economists have warned the fallout could be similar to that […]
Italy death toll crosses 5,000
Medical personnel transport the first patient affected by COVID-19 to an ICU tent a Samaritan’s Purse Emergency Field Hospital on March 20, 2020 in Cremona, near Milan, Italy. Emanuele Cremaschi | Getty Images This is a live blog. Please check back for updates. All times below are in Beijing time. 8:40 am: Luxury group Kering […]
Singapore new cases, Qantas to suspend flights
A man wearing a protective face mask walks past an indoor waterfall at Jewel Changi Airport in Singapore on February 27, 2020. Roslan Rahman | AFP | Getty Images This is a live blog. Please check back for updates. Global cases: At least 207,860, according to the latest figures from the World Health Organization Global […]
Malaysia border lockdown, Italy death toll
Global cases: At least 184,976, according to the latest figures from the World Health Organization Global deaths: At least 7,529, according to the latest figures from the WHO This is a live blog. Please check back for updates. All times below are in Beijing time. 8:14 am: Australia raises travel restriction to the highest level, tells citizens […]
Italy’s death toll tops 1,000
Volunteers from the Italian Red Cross purchase medicines for those who cannot leave their homes in Castiglione della Pescaia, while Italy is fighting a coronavirus outbreak in Castiglione della Pescaia, Italy March 12, 2020. Jennifer Lorenzini | REUTERS This is a live blog. Please check back for updates. All times below are in Beijing time. […]
Italy closes all schools and universities as coronavirus death toll rises
An Italian Finance guard (Guardia di Finanza) conducts control and gives indications to drivers at a check-point at the entrance of the small town of Zorlesco, southeast of Milan, on February 24, 2020. MIGUEL MEDINA Italy’s government will announce it will temporarily close the nation’s schools and universities due to the coronavirus outbreak, according to […]
G-7 coronavirus statement promises action as needed
Officials of most of the world’s largest economies pledged on Tuesday a united front in the battle against the novel coronavirus scare but offered no specific actions. “Given the potential impacts of COVID-19 on global growth, we reaffirm our commitment to use all appropriate policy tools to achieve strong, sustainable growth and safeguard against downside […]