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Global economy

Climate change is high on the agenda as the World Bank gets a new president

by Lily Jamali
May 2, 2023
The outgoing World Bank president has been accused of downplaying the risks of fossil fuels.
Former Mastercard CEO Ajay Banga, the U.S. nominee for the World Bank presidency, is expected to bring a new focus on climate change to the institution's programs.
Alex Wong/Getty Images
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Could the United States dollar be dethroned?

by Sabri Ben-Achour and Erika Soderstrom
Apr 26, 2023
Why some countries are moving away from U.S. bucks.
The U.S. dollar has been the dominant global currency for nearly a century. But some countries are now looking to diversify away from the greenback.
China Photos/Getty Images
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Will Britain’s new trade deal with the Pacific Rim make a success out of Brexit?

by Stephen Beard
Apr 20, 2023
Some say U.K. membership of the Trans-Pacific Partnership will make up for any trade lost with the European Union after Brexit. But others have their doubts.
Above, signatories of CPTPP in 2018. Combined, the countries included are slated to account for 54% of global economic growth in the decades ahead.
Claudio Reyes/AFP via Getty Images
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Oil tanker costs climb as Russia ties up system with longer routes

by Lily Jamali
Apr 13, 2023
The cost to ship fuel has more than doubled since February.
Sanctions forced Russia to sell more of its oil to countries like India and China, straining the availability of tanker ships.
Angelos Tzortzinis/AFP via Getty Images
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World Bank convenes amid a shaky global economic backdrop

by David Brancaccio , Alex Schroeder and Jarrett Dang
Apr 10, 2023
Chief David Malpass discusses the obstacles facing developing nations, including a scarcity of investment capital and loans from the rich world.
Outgoing World Bank President at an October news conference. He laments that "the investment rates into developing countries has turned downward."
Anna Moneymaker/Getty Images
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What Argentina’s inflation crisis says about trust in economic institutions

by Reema Khrais and Richard Cunningham
Apr 4, 2023
"It really is important to remember that confidence and trust really underpin our financial system," says Emily Stewart of Vox.
"You have to be pretty savvy to survive in the economy [in Argentina], because your money obviously is constantly losing value," says Vox's Emily Stewart.
Juan Mabromata/AFP via Getty Images
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COVID-19

Shanghai lockdown a year on: Is it still the same financial hub?

by Jennifer Pak
Mar 27, 2023
Shanghai's 2022 lockdown, which lasted two months, left economic and psychological scars on the metropolis.
A view of Lujiazui, the financial district of Shanghai. Government media refers to the cluster of high-rises as the Manhattan of the East.
Jennifer Pak/Marketplace
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Banks in Turmoil

Europe's Credit Suisse is in trouble. Could its problems infect the rest of the financial system?

by Mitchell Hartman
Mar 15, 2023
The bank, much larger than SVB, found problems in its financial reporting. Its Saudi funders ended support, but Swiss officials may step in.
Credit Suisse, an institution with global reach, has had problems prior to the current turmoil in the banking industry.
Fabrice Coffrini/AFP via Getty Images
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U.S. consumer goods and vehicle exports hit a record in January

by Justin Ho
Mar 9, 2023
Some of the increase reflects growing economies in other countries. And it's welcome news for U.S. factories, one economist says.
Any increase in exports is welcome news for U.S. factories, said Chad Moutray with the National Association of Manufacturers.
Justin Sullivan/Getty Images
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The global economic cost of gender inequality in the workplace? $7 trillion per year

by Stephanie Hughes
Mar 6, 2023
A new study finds that more women in the workforce — and fewer roadblocks to their success — could grow the global economy significantly by boosting productivity.
Actions like lowering child care costs could lower the barriers to women entering the workforce.
Jaime Reina/AFP via Getty Images
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