global economy

Copper, especially, is a key ingredient in electric cars, wind turbines and batteries. Suppliers are not ready to meet the demand.

Swiss Re, one of the world’s biggest insurers, projects that by 2050, climate pressures could reduce the world’s GDP by 14%.

And that’s if vaccine distribution stays on track, David Malpass says.

As central bankers around the world meet to close out the year, some face stronger economic headwinds than others.

OECD chief economist Laurence Boone says governments must double down on providing support to avoid “scarring effects.”

U.S. Federal Reserve Chair Jerome Powell said Congress “may need to do more” to cushion the blow from the pandemic.

What does that longer timeline mean for the global economy?

“If people don’t have money in their pockets, then this type of economy that we have can’t work,” says Wharton professor Mauro Guillén.

The U.S. health crisis isn’t just depressing the national economy. The global economy could feel it, too.

That means fewer jobs and more debt. And the U.S. may be in for even worse.