April’s 14.7 percent unemployment rate, announced by the Labor Department last Friday, is awful by any standard. The official tally shows that unemployment increased by 15,938,000 people last month—to 23,078,000 overall—resulting in the highest jobless rate since the Great Depression.
“All Eyes on Asia”: The Geopolitical State of Affairs in Northeast Asia Amidst the COVID-19 Pandemic
Last month on April 10th, the Korea Society and the Japan Society hosted a virtual talk titled “Geopolitics of Coronavirus: Japan and Korea,” moderated by Dr. Joshua Walker from the Japan Society. The two main speakers, Dr. Sheila Smith, Senior Fellow for Japan Studies at the Council on Foreign Relations; and Dr. Stephen Noerper, Senior Director at The Korea Society, outlined how these two democratic nations in Northeast Asia have tackled the coronavirus pandemic to date, and the regional implications it may pose in the foreseeable future.
Co-authored with Jill Frew.
With stunning swiftness, COVID-19 knocked America’s healthcare delivery system to its knees.
A month into the crisis, normal hospital operations are in upheaval. Avoiding in-person care has become the norm and the volume of admissions, surgeries and ER visits has plummeted. Overwhelming demand for ICUs, ventilators and personal protective equipment (PPE) has strained delivery and supply chains to the breaking point.
I had planned to be in Washington last week at the IMF/World Bank meetings, a chance to hear the latest policy debates and catch up with old friends. Not this spring; the meetings were entirely virtual and didn't offer much clarity beyond a dismal forecast for 2020. I have however indulged in a cornucopia of online offerings, some of which I have included below.
We have another week of data on the US commercial banks’ assets and liabilities. Deposits rose by 2.6% in the week to 25th March, after a (revised) increase of 2.2% in the previous week. The increase in the fortnight to 25th March may have been the highest ever in such a short period of time. The implied annualised rate of increase was not much less than 250%.