The COVID-19 pandemic is entering its second phase as countries gradually reopen their economies and loosen or even revoke strict social-distancing measures. Yet, barring the arrival of an effective, universally available therapy or vaccine, the transition back to “normal” will be more aspirational than real.
The ongoing standoff between Chinese and Indian forces along the two countries’ disputed Himalayan border recently resulted in the first troop casualties there in decades, with some Indian soldiers killed in particularly brutal fashion.
It is no secret that the COVID-19 pandemic has severely affected livelihoods, local industries and the economy in general. As we enter nearly the seventh month of the outbreak – many have lost their jobs across Southeast Asia. According to the Asian Development Bank (ADB), the pandemic will threaten the employment of 68 million workers across Asia if the outbreak goes on until September.
The coronavirus crisis has taken a much heavier toll on jobs than previously feared, the United Nations (UN) said Tuesday, warning that the situation in the Americas was particularly dire.In a fresh study, the International Labour Organization (ILO) estimated that by the mid-year point, global working hours were down 14 percent compared to last December - equivalent to some 400 million full-time jobs.That is more than double the number forecast by the UN organisation back in April, when it ex
European Union (EU) member states remained divided Friday over the partial reopening of Europe's border on 1 July, though the United States (US), where the coronavirus is still spreading, was to remain excluded, diplomats said.EU envoys have argued for days on drawing up a list of criteria for reopening borders, with some member states worried about the reliability of coronavirus data, notably from China.Sources said that the meeting ended with a tentative list of about 18 countries free
Southeast Asian leaders warned Friday the virus pandemic had swept away years of economic gains and was hindering negotiations over the flashpoint South China Sea as they met online for a delayed summit.Vietnam, the current chair of the Association of Southeast Asian Nations (ASEAN), had wanted to use the summit to inject momentum into talks on a sprawling China-backed trade pact.But the immediate focus for the 10-member bloc was the crippling cost of the coronavirus, which has ravaged the ec
By the time COVID-19 reached South Asia, it had already penetrated most other regions of the world. Pakistan was one of the first in the region to be hit. In late February, Shia pilgrims who had come in contact with Chinese pilgrims while visiting holy sites in Iran brought it home with them. Not long after, Indian expatriates visiting from the United States (US) carried the virus to India.
Back in 2013, the Chinese government laid out a policy agenda that promised real reforms to an economy laden with debt and distorted by the influence of the country’s large state-owned enterprise (SOE) sector.
The coronavirus crisis has severely affected numerous sectors, from aviation, and tourism, to oil and gas even property. The World Bank noted in its recent ‘Global Economic Prospects’ report that the pandemic has caused the broadest collapse of the global economy since 1870.
The coronavirus pandemic inflicted a "swift and massive shock" that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday.The world economy is expected to contract by 5.2 percent this year - the worst recession in 80 years - but the sheer number of countries suffering economic losses means the scale of the downturn is worse than any recession in 150 years, the World Bank said in its latest Global Econom