Wednesday , July 15 2020
Home / Tag Archives: China

Tag Archives: China

Fiscal Policies for a Transformed World

By Vitor Gaspar and Gita Gopinath The ongoing COVID-19 pandemic has already prompted an unprecedented fiscal policy response of close to $11 trillion worldwide. But with confirmed cases and fatalities still rising fast, policymakers will have to keep the public health response their No. 1 priority while retaining supportive and flexible fiscal policies and preparing for transformational economic change. Policymakers should tackle the rising poverty and inequality, as well as the structural...

Read More »

Financial Conditions Have Eased, but Insolvencies Loom Large

By Tobias Adrian and Fabio Natalucci عربي, Español, Français, 日本語 Amid the human tragedy and economic recession caused by the COVID-19 pandemic, the recent surge in risk appetite in financial markets has caught analysts’ attention. After sharp declines in February and March, equity markets have rallied back, in some cases to close to their January levels, while credit spreads have narrowed significantly, even for riskier investments. This has created an apparent disconnect between financial...

Read More »

Reopening from the Great Lockdown: Uneven and Uncertain Recovery

By Gita Gopinath عربي, 中文, Español, Français, Русский  The COVID-19 pandemic pushed economies into a Great Lockdown, which helped contain the virus and save lives, but also triggered the worst recession since the Great Depression. Over 75 percent of countries are now reopening at the same time as the pandemic is intensifying in many emerging market and developing economies. Several countries have started to recover. However, in the absence of a medical solution, the strength of the recovery...

Read More »

How the Great Lockdown Saved Lives

By Pragyan Deb, Davide Furceri, Jonathan D. Ostry and Nour Tawk عربي, 中文, Español, Français, 日本語, Русский  Since the COVID-19 outbreak was first reported in Wuhan, China in late December 2019, the disease has spread to more than 200 countries and territories. In the absence of a vaccine or effective treatment, governments worldwide have responded by implementing unprecedented containment and mitigation measures—the Great Lockdown. This in turn has resulted in large short-term economic losses,...

Read More »

Chart of the WeekTracking Trade During the COVID-19 Pandemic

By Diego Cerdeiro, Andras Komaromi, Yang Liu, and Mamoon Saeed With the current fast-changing developments, policy makers need to know what is happening to the economy in real time, but they often must settle for data telling them what happened many weeks ago. And international trade, which links countries through a complex web of supply chains, is an area where timely information is especially valuable from a global perspective. Most trade takes place by sea, and—for navigational safety...

Read More »

Emerging from the Great Lockdown in Asia and Europe

By Changyong Rhee and Poul M. Thomsen عربي, 中文, 日本語, Русский Several countries in Asia and Europe, where the COVID-19 outbreak appears to have peaked, are gradually reopening their economies. Without a vaccine or effective treatment, policymakers will be balancing the benefits of resuming economic activity against the potential cost of another increase in infection rates. They face difficult choices, in part, because the costs of erring in either direction could be very large. The timing,...

Read More »

State-Owned Enterprises in the Time of COVID-19

Vitor Gaspar, Paulo Medas, and John Ralyea عربي, 中文, Español, Français, 日本語, Português, Русский The pandemic has highlighted the role of the public sector in saving lives and livelihoods. State-owned enterprises are part of that effort. They can be public utilities that provide essential services. Or public banks that provide loans to small businesses. But some are also struggling and adding to the burden on government finances. These range from national oil companies that are dealing with a...

Read More »

A Post-Coronavirus Recovery in Asia—Extending a “Whatever it Takes” Lifeline to Small Businesses

By Kenneth Kang and Changyong Rhee عربي, 日本語 Asia was hit hard by the first wave of the coronavirus, as the sudden stop in activity struck households and firms simultaneously—first in China, then elsewhere in Asia, and now globally. Policymakers responded swiftly with aggressive spending to support the medical response and vulnerable households and firms. And central banks took swift actions to expand liquidity. While this helped support financial markets and sentiment, we may be on the...

Read More »

A Global Crisis Like No Other Needs a Global Response Like No Other

By Kristalina Georgieva عربي, Português I have been saying for a while that this is a “crisis like no other.” It is: More complex, with interlinked shocks to our health and our economies that have brought our way of life to an almost complete stop; More uncertain, as we are learning only gradually how to treat the novel virus, make containment most effective, and restart our economies; and Truly global. Pandemics don’t respect borders, neither do the economic shocks they...

Read More »

COVID-19 Pandemic and the Asia-Pacific Region: Lowest Growth Since the 1960s

By Chang Yong Rhee عربي, 中文, Français, 日本語, Русский This is a crisis like no other. It is worse than the Global Financial Crisis, and Asia is not immune. While there is huge uncertainty about 2020 growth prospects, and even more so about the 2021 outlook, the impact of the coronavirus on the region will—across the board—be severe and unprecedented. This is a real economic shock and requires protecting people, jobs, and industries directly. Growth in Asia is expected to stall at zero percent...

Read More »