Recent tensions between the US and China, the Covid-19 pandemic, and the Russia-Ukraine war have put pressure on trade integration efforts. This column estimates that fragmentation into three trade blocs – a Western, an Eastern, and a Neutral bloc – would have important effects on trade between them, reducing trade flows by 22–57% in the […]
The U.S. Securities and Exchange Commission had asked Coinbase to stop trading in all cryptocurrencies except bitcoin before suing the cryptocurrency platform in June, the Financial Times reported on Monday, citing CEO Brian Armstrong. “We really didn’t have a choice at that point. Delisting every asset other than bitcoin, which by the way is not what […]
U.S. automaker Tesla is set to cut prices on multiple variants of its Model 3 and Model Y vehicles in Hong Kong from Aug. 4, Hong Kong Economic Times reported on Monday. The discounts would range from 6% to 11.9%, according to the report. Source : Reuters
A giant, glowing X marks the San Francisco spot where Elon Musk says he plans to keep his company, the messaging platform X, formerly known as Twitter. But city officials and some residents are unhappy with the display. On Friday, the company erected an “X” logo on the roof of its Market Street headquarters, to […]
Manchester United signed a 900 million pound ($1.1 billion) deal with Adidas on Monday, renewing the English soccer club’s partnership with its official kit supplier for 10 more years. Manchester United, whose U.S. owners have been considering selling the Premier League club, will return to the lucrative UEFA Champions League this year after securing a top-four finish in the […]
Rapid socioeconomic development and population growth are escalating groundwater overexploitation, creating a potential crisis in Asia and the Pacific. Demand for groundwater has increased steadily in Asia and the Pacific in recent decades, driven by rapid socioeconomic development and population growth. Bangladesh, India, Indonesia, Iran, Pakistan, the People’s Republic of China, and Türkiye today account […]
The COVID-19 pandemic was a disaster. It led to at least 6 million deaths, caused tremendous economic and social disruption, and unwound decades of development gains in vulnerable lower-income countries. While health care workers played a critical role in saving people’s lives, they faced a much higher risk of infection and death, particularly in the […]
Climate change has the potential to erase much of the progress we have made to improve the lives of people experiencing poverty. Climate shocks and environmental degradation threaten livelihoods, food security, and infrastructure, increase violence, and can result in poorer life chances, especially for people in resource-constrained contexts. Last month, the World Bank’s Development Impact and Data Groups, together […]
Ambitious measures to protect the Amazon that saw deforestation fall by more than 70 percent after a 2004 peak have become less effective: since 2012, deforestation has been rising. How can this be reversed? A mix of complementary policies can address this complex problem. The expanding arc of deforestation has been fueled by local economic incentives, regional and […]
According to the 2023 World Bank Economic Update for Mali, entitled “Strengthening Financial Resilience of Pastoralists to Drought,” Mali’s economy showed signs of resilience despite ECOWAS sanctions, high food inflation, and parasite infestations affecting cotton production. GDP growth is estimated at 1.8% driven by the recovery of food agriculture and the resilience of the gold […]
