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Thursday, May 28, 2020

COVID-19 Pandemic and the Caribbean: Navigating Uncharted Waters

As the COVID-19 pandemic continues to spread across the globe—bringing severe human and economic costs—the Caribbean is no exception. With over 1,000 confirmed cases, many countries have taken strong containment measures, such as border closures and lockdowns, to “flatten the curve.” But the “sudden stop”...

The Deadly Urgency of Now

GORDON BROWN The consequences of lapses in international cooperation in combating COVID-19 over the last few months can now be counted in lost lives. Having failed to stop the first wave of the pandemic, we must not make the same mistake again. LONDON – “This is...

The End of the US-China Relationship

STEPHEN S. ROACH From an unnecessary trade war to an increasingly desperate coronavirus war, two angry countries are trapped in a blame game with no easy way out. Now more than ever, both sides need to contemplate the economic and geopolitical consequences of a full...

The Necessity of a Global Debt Standstill that Works

G20 governments recently agreed to suspend bilateral official loan repayments from 76 of the world’s poorest countries until the end of 2020. But, to enable emerging and developing economies to withstand the economic shock of COVID-19, the debt standstill must also include all private...

Protectionism Is No Cure for Pandemics

AMINA MOHAMED Africa has learned the hard way that international cooperation is key to saving lives and extinguishing epidemics. But the mixed global response to the current COVID-19 pandemic, with many countries closing their borders and restricting exports of vital goods, suggests that the world is...

Impact Investment’s Pandemic Challenge

TOLULLAH ONI , GILLIAN MARCELLE , TAU TAVENGWA After every global emergency, those who extended support to the world's poorest and most vulnerable usually snap back to "business as usual," all but ensuring that the next crisis will be as severe as the last. This time must...

COVID-19 is Not World War II

WILLIAM H. JANEWAY Although the US mobilization for war in the 1940s seems like a close comparison to the sudden economic stop of the COVID-19 era, the two episodes have little in common. Simply put, World War II placed far greater demands on a government...

Patents vs. the Pandemic

JOSEPH E. STIGLITZ, ARJUN JAYADEV , ACHAL PRABHALA As researchers around the world rush to develop new diagnostics and treatments for COVID-19, we must not forget that such cooperation is an exception to the rule. In the absence of public intervention, we will remain reliant for...

Of Q1’20 Economic Output and GDP Forecasts – Lessons from China

For the first time in nearly half a century China's economy has stopped growing. The National Bureau of Statistics (NBS) reported a 6.8 percent drop in economic output over the first quarter of the year. Retail sales were down by 19 percent and export...

The Grim Truth About the “Swedish Model”

HANS BERGSTROM As the coronavirus pandemic has swept the planet, Sweden has stood out among Western democracies by pursuing a "low-scale" lockdown. Whether this approach speaks to a unique strength of Swedish society, as opposed to bad judgment, can be determined by comparing Sweden's COVID-19...