The field of economics is undergoing a revolution, becoming more relevant, accurate, timely, and empirical by using technology to track everything, all the time. Our economics columnist explains how plentiful data is drastically changing the way policy is structured and decisions are made.
The COVID-19 has, unequivocally, triggered a global crisis comparable in size to historical precedents such as the Great Recession of 2008. While the two may be similar in their ramifications, the current crisis differs significantly from the 2008 crisis. This article discusses noteworthy insights for policymakers and investors alike.
Xenophobia and racism have been endemic throughout American history, but the COVID-19 pandemic highlighted how it affects the Asian American community in the United States. From suffering Asian-owned businesses to high rates of unemployment to lacking government programs, learn more about how the Asian American community is battling both discrimination and the pandemic.
It looks like the United States just became a third wheel. Recent economic data from the E.U.’s statistical office shows that China is now the European Union’s biggest trading partner of goods, knocking the U.S. from its prime spot. While the European Union has been China’s biggest importer for some time, the relationship only became mutual during the pandemic, likely due to the increase in demand for Chinese medical products in the E.U. In turn, demand for European goods in China also grew.
With the coronavirus spreading throughout the US, the CARES Act is intended to stop people from finding employment in high transmission jobs, spreading COVID-19 further. How effective is this act? Wayne Chien takes us further with this article.
Despite recent metrics around the globe showing severe production declines as a result of coronavirus, Chinese GDP growth continues to be one of the fastest among developed and developing nations. That’s not a new story. While the rest of the world experienced recessions and layoffs, China blew through the 2008-2012 years, reaching an all-time productivity growth peak of 11 percent in 2011. By all official accounts, China is on track to surpass aggregate U.S. output and take the mantle of economic hegemony within the next several decades.