Affected companies and disrupted billions of lives and jeopardize development process. The june edition of the world banks Global Economic prospects which motivates todays conversation and visions a 5 1 4 percent construction in global gdp in 2020. This is a different recession sinceworld war ii. And a drop in capital incomes since 1870 and it is a timely and vigorous report informed by an assessment of the fundamental drivers of longterm growth includingthe collapsing investments which will slow capital formation. And the dislocation of trade and supply linkages among others. Beyond the headline Economic Growth numbers the pandemic is having a disproportionate effect on low Income Countries where the dependence on commodity prices, food is the largest and in a way economies are dominated by the factor with which lowers its ability to adjust to measure such as confinement similarly, the most vulnerable populations in the advanced economies are relatively more exports as such a pandemic
Where you are. Thank you for joining us for this Virtual Event on the po postcovid global outlook. Im a senior fellow and vicepresident of the economy and Development Program at brookings. The Global Economy is sharp, unprecedented in its depth. And the pandemic and responses have brought countries and economies to a standstill disrupting billions of lives and jeopardizing decades of development progress. The june edition of the World Bank Global economic prospects which motivates todays conversations envisions a 5 1 4 contraction of global gdp in 2020. This is the deepest global recession since world war ii and the largest collapse in per capita income since 1870. Its a timely report thats informed by assessment of the fundamental drivers of longterm growth, including the collapsing investments which will slow capital formations and in Human Capital and the location of trade and supply linkages among others. The pandemic is having a proportionate effect on lower Income Countries where
The coronavirus 3 principal low income nations and check out the real price of developing. Country in the cost. Hi im Steve Clemons and i have a question what will it take to get the United States back on line and back to normal lets get to the bottom line. Americans just like everyone else around the world are wondering about the months ahead should we let our kids go back to school face to face what are the risks how many more will lose their jobs or worse their lives will the stock market crash or most folks going to go back to their offices or their businesses or their colleges in other words will life go back to normal anytime soon and what will the quote unquote new normal even be meanwhile american states have been left to their own devices to deal with this virus in the absence of any coherent National Policy or guidance some states were spared a major outbreak and others have waffled between crippling shutdowns on one hand and flamboyant disregard for the threat on the other s
Benefit of having a big civilization with lots of interactions, lots of people meeting people, doing business, creating. Good morning. Good evening, depending on where you are. Thank you for joining us. Senior fellow and Vice President of the Global Economy and development program, and brookings. The Global Economy is in perfect. The pandemic continues disrupting billions of lives, jeopardizing billions. The World Bank Global economic prospects which relates this conversation, its infraction on global gdp in 2020. This is the global recession since world war ii, since 1870. Its informed by an assessment fundamental drivers of a long time ago, a formation. The location of trade but headline Economic Growth number, having its proportionate effect and lower Income Countries, the large. There dominated the ability to adjust to covered religious measures such as confinement. The population in such the pandemic is likely to leave a legacy of inequalities between and within countries, and the
Unemployed in america is truly unimaginable. I cannot emphasize enough, francine, in the last six hours, the rhetoric between washington beijing. It is extraordinary, going back to 1972 with president nixon and china. Francine lets get to first word news in new york city with ritika gupta. Ritika good morning. The white house is rebuking chinas military and economic policies in a report to congress. Themberg obtained a copy of report before its release. It falls china for u. S. Human rights it falls china for human rights abuses among other things. Resident trump stepped up his rhetoric against china on the coronavirus, suggesting xi jinping is behind a propaganda attack against the u. S. And europe. The Senate Passed legislation that could result in China Companies being delisted from stock exchanges. Republican senator john kennedy says he wants china to play by those rules. Votedin, lawmakers have to extend a state of emergency for another two weeks. They backed by minister Pedro Sa