Home / Global Economy

Global Economy

Does coronavirus herald capital controls?

The virus pandemic of which we are all now victims is having a hugely negative impact on the flow of people, goods and services internationally. But what about capital? Will capital keep flowing freely when little else is? There is a decent case to make that we might be approaching …

Read More »

India coronavirus shutdown hits outsourcing groups

The nationwide shutdown in India because of coronavirus has left some of the world’s biggest outsourcing companies racing to maintain services for global clients. India’s IT companies provide back office operations for many of the world’s largest corporations, from banks to manufacturers and pharmaceuticals. The largest of them, Tata Consultancy …

Read More »

FirstFT: Today’s top news

Several countries in or neighbouring the EU have rejected Chinese-made coronavirus testing kits and protective equipment as substandard, raising concerns about the quality of supplies. The Netherlands, Spain and Turkey have all claimed there have been problems with products including masks and tests, as rising confirmed cases of Covid-19 infection in …

Read More »

Officials warn Africa is at ‘break the glass’ moment

Africa has reached a “break the glass moment”, an emergency in which international actors need to take drastic action if the world’s poorest continent is to avoid a human and economic catastrophe, Ken Ofori-Atta, Ghana’s finance minister, told the Financial Times. Mr Ofori-Atta, who is also chairman of the joint …

Read More »

Can the world afford stimulus on this scale?

The fiscal and monetary stimulus announced by the world’s major economies over the past month is a global policy event without precedent in peacetime.  The increase in fiscal spending and loans in the US this year alone will reach more than 10 per cent of gross domestic product, larger than …

Read More »

Migrant workers count the cost of coronavirus

For years, Banjeet was among the millions of Asians working in the United Arab Emirates, supporting his immediate family in the oil-rich Gulf state and sending money back to relatives in his home country. But this month, as the UAE joined other countries across the globe in shutting down parts …

Read More »