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covid19 world vaccine

World economy 12th June 2021

The World Needs a People’s Vaccine

Nicolas J.S. Davies | Around the world, we are witnessing what can happen when people rise up and act collectively for the common good. That is how we will solve the serious problems we face, from the COVID-19 pandemic to the climate crisis to the terminal danger of nuclear war. Humanity’s survival into the 22nd century and all our hopes for a bright future depend on building new political and economic systems that will simply and genuinely “do what is best for all of us.”

Bukele Bitcoin

World economy 9th June 2021

El Salvador To Be The First Country In The World To Adopt Bitcoin As Legal Tender

Fernando Alberca | For the Salvadorian president, Nayib Bukele, the impact of this measure will be very positive: “In the short term, this will generate jobs and help bring financial inclusion to thousands of people outside the formal economy. And in the medium and long term, we hope this small decision can help us push humanity, at least a little bit, in the right direction.”Although the US dollar is the official currency in El Salvador, remittances of dollars from Salvadorian emigrants have to pay high commissions to banks and intermediary exchange houses to transfer them to their home country.

germany inflation1TC

World economy 7th June 2021

Have We Entered ‘The Great Inflation 2.0’?

Consumer spending in the United States increased to pre-pandemic levels of around $13.4 trillion in the first quarter of 2021 from $13.0 trillion in the fourth quarter of 2020. If the pandemic can be characterised as the economic engine being parked rather than broken, pent up demand could quickly cause consumer spending to overshoot the trend from recent years.

net zero emissions

World economy 5th June 2021

The Reality Problem Of Net-Zero Ambitions

Today is Environment Day and it is time to take stock of how the private sector is contributing to reducing the carbon footprint. Greenhouse gas emissions play an important role in global warming and, although business has long been trying to reduce them through energy efficiency programmes and similar initiatives, the urgency of the climate crisis is raising the bar significantly. In this article Roland Rott, director of La Française Sustainable Investment Research, analyses the real problem in achieving net zero carbon claims.

dollar rally

World economy 3rd June 2021

The Dollar: From 71% To 59% Of Central Bank Reserves In 20 Years

Luis Alcaide | The world is gradually moving towards a multiple reserve system. In its latest World Economic Outlook, the IMF notes that when the euro made its appearance, the dollar accounted for 71% of foreign exchange reserves. In the last quarter of 2020, dollar reserves held by central banks had fallen to 59%, the lowest share in the last 25 years. The complaints in 1960 from the then French…

Do we need a universal basic income?

World economy 30th May 2021

Support Is Growing For A Universal Basic Income

Guy Standing via The Conversation | Wales has become the latest country to explore the idea of a universal basic income, which gives every adult a fixed amount of money, regardless of their employment status.Since COVID-19, there has been a global surge in support too. In the USA, Los Angeles has become the latest city to launch an experiment, and there have been trials in Canada, South Korea and Kenya. In Europe, a poll last year, covering France, Germany, Italy, Poland, Portugal and Spain, found that more than two-thirds of people were in favour of a basic income.

J.Yellen

World economy 25th May 2021

G7 May Back 15% Minimum Corporate Tax Rate Next Week

US Treasury Secretary Janet Yellen will attend the G7 summit in London next week (4-5 June) with the idea of pushing for agreement on a global minimum corporate tax rate. The US authorities would be willing to accept a global minimum corporate tax rate of 15%, instead of the 21% they had previously advocated, in order to facilitate the agreement. This US decision may already precipitate an agreement at G7…