Topic: Global Economy

In ‘Kleptopia’, Tom Burgis follows how dirty money floods the global economy when crisis hits democracies and kleptocrats see an opportunity to seize power.

Investors are rooting for industrial companies, but China’s 14th five-year plan could bring a lot more stress to a post-Covid-19 global economy attempting a recovery. The world should watch carefully as Beijing gets ready to unveil a blueprint focused on high-tech industry. Between trillions of dollars of fiscal stimulus, easy money and China’s broadly accelerating credit cycle, global industrial stocks have found a tailwind. Data out this week showed external machinery orders in Japan – a leading indicator of capital goods exports – rose almost 50% from August, the second straight increase that’s brought them back to pre-virus levels. All good news. However, investors should exercise caution. An academic paper published in April by Xiao Cen and Wei Jiang of Columbia University’s business school and Vyacheslav Fos of Boston College found that Beijing’s industrial policies packaged together as five-year plans result in a shock to growth in targeted industries — inside...

Fiscal policy, which fell out of fashion as an engine of economic growth during the inflationary 1970s, has been front-and-center in the fight against Covid-19.

The WTO & IMF said while the early days of pandemic recovery were stronger than expected, the rebound is likely to take longer than earlier predicted.

The accelerating spread of Covid across the world and the absence of a vaccine are further damping hopes of a V-shaped recovery.

As the Covid-19 pandemic shows no signs of letting up, ThePrint highlights the most important stories on the crisis from across the globe.

As the Covid-19 pandemic shows no signs of letting up, ThePrint highlights the most important stories on the crisis from across the globe.

Next 3 months stand to reveal the underlying economic pain more vividly than past 3 months as massive fiscal assistance from govts is soon going to fade.

As the Covid-19 pandemic shows no signs of letting up, ThePrint highlights the most important stories on the crisis from across the globe.

London/Mumbai: India’s decision to impose the world’s biggest virus shutdown has exposed a weak spot for the largest securities firms, which grappled with a sudden halt of their operations there. Some global banks are scrutinizing their presence in Asia’s third-largest economy after the lockdown in March effectively closed call centers and other units overnight. European regulators have also assessed the impact of India’s lockdown on the banking industry this week, showing the challenges of providing the infrastructure such as laptops required to work remotely. The push to outsource support functions such as call centers “exposed these banks to operational risks,” according to a European Banking Authority report. “Many such offshore facilities were less prepared to address the Covid-19 operational challenges owing to a lack of opportunities for remote working or reduced availability of staff,” the EBA said. JPMorgan Chase & Co, Barclays Plc and Nomura Holdings Inc. are among lenders that initially...