The recession this time isn’t driven by inherent weakness in economies or factors like oil shocks. It’s also synchronous. This could quicken India’s recovery.
With govts having to fund trillions of dollars in bailout packages for businesses, finding extra capital to restructure global supply chains is a tall order.
The average person in the US is essentially willing to pay $15,000 to reduce the rates of infection through social distancing, shelter-in-place and other interventions.
As the state eases restrictions but local officials tighten them, rural areas may be able to move quicker than densely populated regions hit harder by the virus.
Trump also said expressed hope for the economy picking up next year, saying he thought the fourth quarter is going to be 'really, really good' for the US.
The International Monetary Fund this week projected that the US economy will shrink this year by 5.9 per cent amidst the pandemic that has wrecked havoc in the country.
The president also took a swipe at environmental activists, terming them ‘alarmists who want absolute power to dominate, transform and control every aspect of our lives’.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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