Lockdowns and social distancing restrictions have brought much of the global economy to a halt over the past few months, causing unprecedented levels of joblessness and throwing international commerce into disarray.
As the virus continued to spread throughout the first quarter of the year (there are now cases in at least 188 countries and territories) the IMF updated its original growth forecast for 2020, and the predictions are grim. The world's largest economies – China, the US and the Euro area – are set to experience massive year-on-year contraction. But there's a silver lining: The IMF says that there are signs of a promising economic recovery for these economic regions in 2021. Here's a look at the numbers.
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The war in Iran is entering a more dangerous phase.
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In this Quick Take, Ian Bremmer breaks down the escalating US-Israel war with Iran and its ripple effects on global markets and supply chains.
As missiles fly and oil prices soar, the Iran war is exposing another major resource vulnerability in the Middle East: water. Fresh water has been a scarce commodity in a region defined by a dry climate and low rainfall, but attacks on the region’s desalination plants, which convert seawater into drinking water, threaten to open a new front.
