Getting 65 heads of state to agree to anything is remarkable. But when the topic is “meaningful action” on biodiversity, the “Leaders’ Pledge for Nature” is a big deal. This week, the UN held a virtual biodiversity summit, aiming to reach a new agreement when the “UN Convention on Biological Diversity” convenes in China in May 2021. DWS talks about the economic consequences of biodiversity loss and the role of financial regulators.
Ian McCredie | True to himself, US President Donald Trump completely failed to address any of the issues confronting the global community in his keynote speech to the 74th General Assembly of the United Nations. Instead, he used the platform to criticize China, to excoriate Iran, to boast of how big and dangerous the US military has become, and to urge every nation to close its borders to even the most hungry or persecuted migrants.
The symbolism of President Trump testing positive for coronavirus will not be lost on market participants and economists. Many things – from US-China relations, post-election tax policy, the US’s relationship with global institutions, trade, climate change progress, social cohesion in the US –depend on how a 74-year old man reacts to getting a virus that has claimed over a million lives globally this year
The Australian government this week announced an investment in developing its blockchain industry as part of a wider digital expansion package. Unveiling its $574m Digital Business Plan that includes seven-figure grants for distributed ledger technology initiatives, Prime Minister Scott Morrison earmarked a substantial investment in blockchain.
According to Ray Dalio, the founder of Bridgewater, 90% of governments’ attempts to reflate their economies have ultimately been successful over the past 200 years. In other words, after a few years of monetised deficits, trials and errors by policymakers, inflation will eventually rise.
The Mexican Institute of Social Security (IMSS) reported that 92.4 thousand formal jobs were created in August, equivalent to 8.3% of the 1.1 million jobs lost from March to July. The weak recovery in employment could not stop the deterioration of the labor market in a generalized way.
The Conversation | President Donald Trump and former Vice President Joe Biden took part in a presidential debate Sept. 29 that exemplified the lack of civility in American politics. The president frequently interrupted and spoke over his challenger, Biden told Trump to “shut up,” and few issues were discussed in enough depth to provide much information to undecided voters. We asked three scholars to discuss themes brought up by moderator Chris Wallace of Fox News, who struggled throughout the debate to keep control.
World Bank data indicate that 47.7% of people aged 15 or over had a debit card in 2017, an increase from 2011, when it stood at 30.7%. In the Netherlands, Finland and Sweden, more than 98% of the population had a debit card; in contrast, in South Sudan and Sierra Leone, only 2% had a card of this type.
The first TV debate between Donald Trump and Joe Biden will be hold today.It will not be decisive, but it will have its importance. Joe Biden leads in the polls in most of the swing states and should benefit from a higher mail-in voting. “For historical or sociological reasons, many states always lean the same way. Thus the result hinges on the dozen swing states where the gap between the two sides is narrow and results in alternating victories between the Republicans and Democrats”, explain experts at ODDO BHF.
With less than 50 days before the US elections, market participants will be preparing their portfolios for turbulent times ahead. New Covid-19 cases continue to rise, and particularly in some US states and European countries, worryingly so. In our view, the proximity of the elections in the US leaves the debate about further fiscal stimulus in a no-man’s land, where it is difficult to see a quick and impactful resolution. In the picture, new cases of Covid-19 per million inhabitants per day