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The federal government has approved two “phases” of fiscal relief for the current COVID-19 crisis, an $8B bill supporting medical work and expanding testing for the virus signed on March 6, and a $100B expansion of sick and family medical leave that President Trump is signing today. The vastly larger Phase 3 package will likely come up for a vote within the next several days. Collectively, this fiscal stimulus will cost more than a trillion dollars, putting it on par with the combined Obama and Bush administrations’ responses to the Great Recession.
Medicine in the Age of Pandemics: why our innovation system for new drug discovery is failing and how to fix it
Covid-19 is our wake-up call. Deadly pandemics are expected to keep growing in the future and our innovation system for life-saving drug development is ill equipped to deal with it. Here is why and how to fix it.
This report is written by Eleanor Hughes, Writer & Commentator, East Asian Affairs.
The ongoing Covid-19 crisis can probably be seen as a “black swan” not only for China but also the whole world. It is largely unpredictable but with severe consequences.
There is no doubt that China has suffered the most from this crisis economically, socially and politically. However, it is highly debatable whether China or the Communist Party is approaching an inflection point of possible breakup or imminent revolution.
The Federal Reserve’s interest rate cut on Tuesday certainly won’t hurt the financial markets or the real economy, but as the subsequent steep drop in stock prices shows, the cut won’t help much, either. Three forces stand in the way.
“Nobody wants a trade war,” but the long-lasting trade conflict between the world’s two largest economies, the United States and China, just reached a truce after almost two years.
On 22 March 2018, President Donald Trump directed the United States Trade Representative (USTR) to start investigating China’s ‘unfair’ trade practices covered in Section 301 of the Trade Act of 1974.
The outbreak of the 2019 novel coronavirus is so potentially impactful that we are devoting this entire edition to the epidemic, to an attempt to gauge its seriousness. Some stories are so big that it is hard to get your arms around them and this one definitely fits that category. Social media wasn't a factor during the 2003 SARS epidemic. The Chinese economy was a much smaller percentage of global GDP, and travel to and from China was far less common. So a simple comparison to SARS is not enough.