Economics & Business Archive

At a time when global cooperation is desperately needed, it seems to be scarcer than ever. G-20 leaders have effectively given up on trying to coordinate a global response to the coronavirus pandemic. Countries are beggaring their neighbors with export restrictions on medicines and food, and scrambling to snatch up medical supplies where they remain available. Among the various closures and cancellations to try to contain the spread of COVID-19, the World Trade Organization announced in March that it was cancelling the biennial ministerial meeting scheduled for June in Kazakhstan. The cancellation of a WTO ministerial meeting has barely registered […]

Editor’s Note: You can find all of our coverage of the coronavirus pandemic here. If you would like to help support our work, please consider taking advantage of our subscription offer here. In a video uploaded to Twitter on March 16, Carol Yin talked through a white face mask as she explained to the camera what it was like to travel in a country that has turned cell phones into weapons to fight COVID-19. Yin, a Shanghai-based podcaster, described her trip to the nearby city of Wuxi, outside Shanghai, shedding light on how integral a phone’s location data has become […]

Jean Palou of the Chilean daily El Mercurio interviewed WPR’s editor-in-chief, Judah Grunstein, by email last week for an article on the prospects for multilateralism and global governance institutions during and after the coronavirus pandemic. Grunstein outlined the challenges to the international system that predated the pandemic; why global governance still matters, even if it has been hampered; and the major questions going forward as the next phase of this global crisis unfolds. The following is the full transcript. El Mercurio: United Nations Secretary-General Antonio Guterres has called the coronavirus pandemic the most challenging crisis since the organization’s founding after […]

There are many ways to think about how the United States and China, the world’s two leading powers, stack up as the COVID-19 pandemic has taken tens of thousands of lives and turned the world upside down in just a few weeks. Beijing’s lack of transparency and timeliness in disclosing details of the virus after its initial outbreak in central China, and the extraordinary lapse in wasted time in the United States between early reports of a dangerous spread of the disease and the first government efforts to inform the public of the true risks and prepare to limit the […]

Editor’s Note: WPR has made this article, as well as a selection of others from our COVID-19 coverage that we consider to be in the public interest, freely available. You can find all of our coverage of the coronavirus pandemic here. If you would like to help support our work, please consider taking advantage of our subscription offer here. The Chinese government first reported “cases of pneumonia of unknown etiology” to the World Health Organization on Dec. 31, 2019. A week later, the new virus responsible for the disease outbreak was identified. Less than 100 days later, we no longer […]

As the coronavirus pandemic continues to spread, countries should be using every available tool to expand production of critical medical supplies and cooperating to avoid complete chaos. But instead, they are increasingly fighting over pieces of a too-small pie and going it alone. With dire, heartbreaking shortages of personal protective equipment for doctors and nurses and ventilators for the desperately ill, some governments have responded by restricting their exports. A few major grain exporters have begun restricting food exports. More inexplicably, some countries continue to collect duties on imports of essential medical supplies, though that is finally starting to change. […]

As the world grapples with COVID-19, it cannot afford to ignore an even more serious global emergency that will persist long after the pandemic has passed: climate change. Last month, the United Nations issued a dire multiagency report warning that the world is “way off track” on its commitments to cut emissions under the Paris Agreement. Without dramatic and sustained emissions reductions, higher atmospheric and marine temperatures will bring more deadly heat waves, catastrophic storms, rising seas, food insecurity, health crises and mass displacement. Although emissions have dropped sharply since January with the coronavirus pandemic virtually shutting down entire economies […]

The surprising decision this week by Russian oil giant Rosneft to pull out of Venezuela provides a textbook study of the intricacies of Russia’s global energy wars. It was only six months ago that Russia’s majority state-owned oil company was poised to take over its nationalized counterpart in Venezuela, PDVSA, in a bid to insulate President Nicolas Maduro’s regime from increasingly harsh U.S. sanctions. Now, it looks like Rosneft may be buckling under the pressures of a coronavirus-induced slump in oil demand, a price war with Saudi Arabia and continued American sanctions. Or, at least, that’s how it looks on […]

In terms of progressive ideas, Uruguay has always punched above its weight. It introduced a free, universal public education system in 1878, 40 years before the United States. Eventually, Uruguay blossomed into one of the most robust social welfare states in Latin America, with the region’s lowest income inequality. It was the first country in the world to legalize recreational marijuana and the second in the region to legalize gay marriage, after Argentina. This small country of 3.5 million people has also burnished its environmental credentials, conserving native forests, protecting biodiverse areas and striving to be carbon neutral by 2030. […]

Editor’s Note: You can find all of our coverage of the coronavirus pandemic here. If you would like to help support our work, please consider taking advantage of our subscription offer here. With a third of the global population on lockdown amid the novel coronavirus pandemic, which has killed nearly 40,000 people as of March 31, governments are rightfully thinking about how to make it easier for their citizens to stay home and reduce activities that are likely to further spread the disease. The restrictions on movement, while important for public health reasons, mean that millions of workers are losing […]