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5 days ago · For decades, the global economy has been growing by 2–5% per year. This growth is eating up ever more resources, destroying biodiversity and ushering in dangerous levels of global warming ...
Sep 19, 2023 · Economists at the International Monetary Fund earlier this year calculated that in the most extreme scenarios in which the global economy divides into hard blocs it would destroy as much as 7% of ...
Oct 12, 2022 · October 12, 2022. This is Work in Progress, a newsletter by Derek Thompson about work, technology, and how to solve some of America’s biggest problems. Sign up here to get it every week. The global...
Apr 28, 2022 · LONDON, April 27 (Reuters) - Climate change could see 4% of global annual economic output lost by 2050 and hit many poorer parts of the world disproportionately hard, a new study of 135 countries...
- Potentially 'cataclysmic'
- So What's Different This time?
- Demand For The Dollar
- Who Would — and Wouldn't — Get Paid
So much financial activity worldwide hinges on confidence that the U.S. will always pay its financial obligations. Its debt, long viewed as an ultra-safe asset, is a foundation of global commerce, built on decades of trust in the United States. A default could shatter the $24 trillion US market for Treasury debt, cause financial markets to freeze u...
The problem has worsened. Partisan divisions in Congress have widened while the debt has grown after years of rising spending and deep tax cuts. U.S. Treasury Secretary Janet Yellen has warned that the government could default as soon as June 1 if lawmakers don't raise or suspend the ceiling. "If the trustworthiness of [Treasurys] would become impa...
But high demand for U.S. dollars also tends to make them more valuable than other currencies, and that imposes a cost: A strong dollar makes American goods pricier relative to their foreign rivals, leaving U.S. exporters at a competitive disadvantage. That's one reason why the United States has run trade deficits every year since 1975. Of all the f...
In a debt-ceiling crisis, Lowery, who was an assistant Treasury secretary during the 2008 crisis, imagines that the United States would continue to make interest payments to bondholders. And it would try to pay its other obligations — to contractors and retirees, for example — in the order that those bills became due and as money became available. ...
Nov 13, 2022 · Gross domestic product, or GDP, is a poor metric for social wellbeing, they stress. Plus, they see expanding a global economy that’s already doubled in size since 2005 — and, at 2% growth ...
Jun 8, 2021 · In the I.M.F.’s World Economic Outlook published in April, the United States’ 2021 G.D.P. was forecast to be 3 percent above its 2019 level, while China was forecast to be 11 percent above its ...
