As COVID-19 continues to spread around the world, Warwick J. McKibbin joined us from his home in Australia to discuss how the novel coronavirus may disrupt the global economy. McKibbin, a nonresident senior fellow at Brookings, authored a recent report outlining seven different scenarios of how COVID-19 might evolve and the implications each scenario would…

What effect has COVID-19 had on the Chinese economy and phase one of the U.S.-China deal? Could the United States or other nations draw lessons from China’s response to the virus? David Dollar is joined in this episode of Dollar & Sense by Dexter Roberts, former China Bureau Chief for Bloomberg Businessweek, to discuss these…

What effect will the COVID-19 pandemic have on the 9.2 million Americans working in logistics? Adie Tomer joins David Dollar to discuss the geographic distribution of logistics workers, their role in supply chains, the lack of protection for essential workers, and the necessity to create a more equitable social contract for America’s labor force. http://directory.libsyn.com/episode/index/id/13855505…

In the face of economic and health challenges posed by COVID-19, Congress, an institution often hamstrung by partisanship, quickly passed a series of bills allocating trillions of dollars for economic stimulus and relief. In this episode, Sarah Binder joins David Dollar to discuss the politics behind passing that legislation and lingering uncertainties about its oversight…

As countries around the world fall into a recession due to the coronavirus, what effects will this economic downturn have on Africa? Brahima S. Coulibaly joins David Dollar to explain the economic strain from falling commodity prices, remittances, and tourism, and also the consequences of a recent G-20 decision to temporarily suspend debt service payments…

Executive Summary This policy brief invokes the standards of ancient Greek drama to analyze the COVID-19 pandemic as a potential tragedy in U.S.-China relations and a potential tragedy for the world. The nature of the two countries’ political realities in 2020 have led to initial mismanagement of the crisis on both sides of the Pacific.…

Responding to the coronavirus as individuals, society, and governments is challenging enough in the United States and other developed countries with modern infrastructure and stable systems, but what happens when a pandemic strikes poor and unstable countries that have few hospitals, lack reliable electricity, water, and food supplies, don’t have refrigeration, and suffer from social…

Vacant positions and high turnover across the federal bureaucracy have been a perpetual problem since President Trump was sworn into office. Upper-level Trump administration officials (“the A Team”) have experienced a turnover rate of 85 percent — much higher than any other administration in the past 40 years. The struggle to recruit and retain qualified…

In 2015, an action movie about a group of elite paratroopers from the People’s Liberation Army, “Wolf Warrior,” dominated box offices across China. In 2020, the nationalistic chest-thumping spirit of that movie is defining Chinese diplomacy, or at least the propaganda surrounding it. This aggressive new style is known as “wolf warrior diplomacy,” and although…

Executive Summary This policy brief invokes the standards of ancient Greek drama to analyze the COVID-19 pandemic as a potential tragedy in U.S.-China relations and a potential tragedy for the world. The nature of the two countries’ political realities in 2020 have led to initial mismanagement of the crisis on both sides of the Pacific.…

The COVID-19 pandemic has already shown a dispersion away from the nation’s most urban and densely populated counties to suburban, somewhat whiter, and less politically Democratic parts of the country.  Yet the group of counties that newly qualify as areas with a high prevalence of COVID-19 cases are even more dispersed, and represent places where…

Since the United States first witnessed significant community spread of the coronavirus in March, each week has brought a fresh round of devastating economic news. From skyrocketing unemployment claims to new estimates of contracting GDP in the first quarter of 2020, there has been little respite from the growing awareness that COVID-19 is exacting unprecedented…

The COVID-19 pandemic is forcing some major adjustments to many aspects of our daily lives that will likely remain long after the crisis recedes: virtual learning, telework, and fewer hugs and handshakes, just to name a few. But in addition, let’s hope the crisis also drives a permanent overhaul of the nation’s woefully inadequate worker…

Even as the COVID-19 pandemic drags on, America has begun to open up for some business and limited social interaction, especially in parts of the country that did not bear the initial brunt of the coronavirus.  However, the number of counties where COVID-19 cases have reached “high-prevalence” status continues to expand. Our tracking of these…

The House has passed an emergency spending measure supported by President Trump to begin dealing with the health and economic crises caused by the coronavirus. By a vote of 363 to 40 early Saturday morning, every Democrat and roughly three-quarters of Republicans supported the bill to provide temporary paid sick and family medical leave; bolster funding for health, food security and unemployment insurance…

In the face of economic and health challenges posed by COVID-19, Congress, an institution often hamstrung by partisanship, quickly passed a series of bills allocating trillions of dollars for economic stimulus and relief. In this episode, Sarah Binder joins David Dollar to discuss the politics behind passing that legislation and lingering uncertainties about its oversight…

At first blush, it seems like the coronavirus pandemic is shutting down the economy everywhere, equally, with frightening force and totality. In many respects, that’s true: Across the country, consumer spending—which supports 70% of the economy—is crashing in community after community, as people avoid stores, restaurants, movie theaters, offices, and other public places. Already, the…

The coronavirus pandemic seems likely to trigger a severe worldwide recession of uncertain length. In addition to responding to the public health needs, policymakers are debating how they can respond with creative new economic policies, which are now urgently needed. One strategy they should consider is both traditional and yet oddly missing from the current…

As if American workers don’t have enough to worry about right now, the COVID-19 pandemic is resurfacing concerns about technology’s impact on the future of work. Put simply, any coronavirus-related recession is likely to bring about a spike in labor-replacing automation. What’s the connection between recessions and automation? On its face, the transition to automation may…

The coronavirus pandemic has thrown America into a coast-to-coast lockdown, spurring ubiquitous economic impacts. Data on smartphone movement indicate that virtually all regions of the nation are practicing some degree of social distancing, resulting in less foot traffic and sales for businesses. Meanwhile, last week’s release of unemployment insurance claims confirms that every state is seeing a significant…

As Congress passes multi-trillion dollar support packages in response to the economic and physical shocks of the coronavirus pandemic, what are state and local governments doing to respond? What kinds of economic and other assistance do they need? What will be the enduring impact of this crisis on workers and certain industries? On this episode,…

With the national economy virtually immobilized as a result of the COVID-19 pandemic, it might seem like the crisis is going to mute the issue of regional economic divergence and its pattern of booming superstar cities and depressed, left-behind places. But don’t be so sure about that. In fact, the pandemic might intensify the unevenness…

Will the coronavirus change everything? While that sentiment feels true to the enormity of the crisis, it likely isn’t quite right, as scholars from the Brookings Metropolitan Policy Program have been exploring since the pandemic began. Instead, the COVID-19 crisis seems poised to accelerate or intensify many economic and metropolitan trends that were already underway, with huge…

Amid rising layoffs and rampant uncertainty during the COVID-19 pandemic, it’s a good thing that Democrats in the House of Representatives say they plan to move quickly to advance the next big coronavirus relief package. Especially important is the fact that Speaker Nancy Pelosi (D-Calif.) seems determined to build the next package around a generous infusion…

World leaders are deliberating when and how to re-open business operations amidst considerable uncertainty as to the economic consequences of the coronavirus. One pressing question is whether or not countries that have remained relatively open have managed to escape at least some of the economic harm, and whether that harm is related to the spread…

The COVID-19 crisis has allowed a revealing look into the shortcomings of the U.S.’s child welfare system. While no institution has proved strong enough to operate effectively and efficiently under the unprecedented circumstances brought on by COVID-19, the crisis has unveiled holes in the child welfare system that call for both immediate and long-term action.…

Because of the COVID-19 crisis, the US economy has nearly ground to a halt. Tens of millions of workers are now seeing their jobs and livelihoods disappear—in some cases, permanently. Many businesses will never reopen, especially those that have or had large debts to manage. State and federal lawmakers have responded by pouring trillions of…

COVID-19 has upended, along with everything else, the balance sheets of the nation’s elementary and secondary schools. As soon as school buildings closed, districts faced new costs associated with distance learning, ranging from physically distributing instructional packets and up to three meals a day, to supplying instructional programming for television and distributing Chromebooks and internet…

Throughout history, crisis and human progress have often gone hand in hand. While the growing COVID-19 pandemic could strengthen nationalism and isolationism and accelerate the retreat from globalization, the outbreak also could spur a new wave of international cooperation of the sort that emerged after World War II. COVID-19 may become not only a huge…

The COVID-19 crisis represents an unprecedented test of human solidarity. Will the wealthy—or, indeed, all those with stable incomes or savings cushions—embrace measures to support the poor and economically insecure? Will the young, among whom the mortality rate is lower, make sacrifices to protect the old? And will people in rich countries accept resource transfers…

The coronavirus crisis in the United States—and the associated business closures, event cancellations, and work-from-home policies—has triggered a deep economic downturn of uncertain duration. The Federal Reserve has stepped in with a broad array of actions to limit the economic damage from the pandemic, including up to $2.3 trillion in lending to support households, employers, financial…

The COVID-19 pandemic—in addition to posing a severe threat to public health—has disrupted the economy and financial markets, and prompted a strong desire among investors for safe and liquid securities. In that environment, one might expect U.S. Treasury securities to be the investment of choice, but for a while in March, the $18 trillion market…

The monthly jobs report—the unemployment rate from one survey and the change in employer payrolls from another survey—is one of the most closely watched economic indicators, particularly at a time of an economic crisis like today. Here’s a look at how these data are collected and how to interpret them during the COVID-19 pandemic. What…

The coronavirus outbreak has generated an immediate need for telehealth services to prevent further infections in the delivery of health care. Before the global pandemic, federal and state regulations around reimbursement and licensure requirements limited the use of telehealth. Private insurance programs and Medicaid have historically excluded telehealth from their coverage, and state parity laws…

The COVID-19 pandemic has graphically illustrated the importance of digital networks and service platforms. Imagine the shelter-in-place reality we would have experienced at the beginning of the 21st century, only two decades ago: a slow internet and (because of that) nothing like Zoom or Netflix. Digital networks that deliver the internet to our homes, and…

The world is in the midst of a global pandemic and all countries have been impacted significantly. In Europe, the most successful policy response to the pandemic has been by Germany, as measured by the decline in new COVID-19 cases in recent weeks and consistent increase in recovered’ cases. This is also reflected in the…

Introduction A combination of escalating costs, an aging population, and rising chronic health-care conditions that account for 75% of the nation’s health-care costs paint a bleak picture of the current state of American health care.1 In 2018, national health expenditures grew to $3.6 trillion and accounted for 17.7% of GDP.2 Under current laws, national health…

It took just two weeks to exhaust one of the largest bailout packages in American history. Even the most generous financial support has limits in a recession. However, I am optimistic that a pandemic-fueled recession and mass underemployment could be an important opportunity to upskill the American workforce through loans for vocational training. Financially supporting…

As America plunges into recession, Congress and President Donald Trump have approved a series of aid packages to assist businesses, the unemployed, and others impacted by COVID-19. The first three aid packages will likely be supplemented by at least a fourth package, as the nation’s leaders better understand the depth and reach of the economic…

https://www.youtube.com/watch?v=u6-PSpx4dqU India’s electricity grid’s most complex and perhaps most critical layer is the distribution companies (Discoms) that retail electricity to consumers. They have historically faced numerous challenges of high losses, both financial and operational. COVID-19 has imposed new challenges on the entire sector, but Discoms are the lynchpin of the system.  In a panel discussion…

The Prime Minister of India held a meeting on April 30, 2020 to consider reforms in the mines and coal sector to jump-start the Indian economy in the backdrop of COVID-19. The mining sector, which is a primary supplier of raw materials to the manufacturing and infrastructure sectors, is being considered to play a crucial…

Executive Summary This policy brief invokes the standards of ancient Greek drama to analyze the COVID-19 pandemic as a potential tragedy in U.S.-China relations and a potential tragedy for the world. The nature of the two countries’ political realities in 2020 have led to initial mismanagement of the crisis on both sides of the Pacific.…

The COVID-19 pandemic is unmasking a lot of ugly economic and social truths across the Midwest, especially in my home state of Michigan. The appearance of a good economy in the Midwest following the Great Recession (which hit the region very hard) was a bit of an illusion. Prior to the arrival of the coronavirus,…

The COVID-19 pandemic is forcing some major adjustments to many aspects of our daily lives that will likely remain long after the crisis recedes: virtual learning, telework, and fewer hugs and handshakes, just to name a few. But in addition, let’s hope the crisis also drives a permanent overhaul of the nation’s woefully inadequate worker…

The novel coronavirus was first identified in January 2020, having caused people to become ill in Wuhan, China. Since then, it has rapidly spread across the world, causing widespread fear and uncertainty. At the time of writing, close to 500,000 cases and 20,000 deaths had been confirmed globally; these numbers continue to rise at an…

The novel coronavirus that causes the disease known as COVID-19 is sweeping across the Middle East and reigniting religious tensions, as governments tighten the reins on long-held practices in the name of fighting the pandemic. There is no doubt that the restrictions, including the closure of Shia shrines in Iraq and Iran and the cancelation…

With more than 1,000 deaths, 3 million and counting unemployed, and no definite end in sight, the coronavirus has upended nearly every aspect of American life. In the last two weeks, the Federal Reserve and Congress scrambled to pass policies to mitigate what will be a very deep recession. Americans across the country are asking—…