The COVID-19 (or coronavirus) disease has led to a major pandemic that has spread to virtually all countries of the world. Although at the time of writing the epidemic has mainly hit South East Asian and Western countries (see Figure below), it is likely that Developing Countries (DCs) will also be heavily affected in the weeks to come. (mehr …)
After World War II, Europe still felt it had a message to the world: Overcome the divides of sovereign nation states by creating a supranational, law-based conflict solving governance structure. Now, in its third generation, Europe’s economic success is the very cause for the need of an alternative.
Many observers have expressed frustration with the G20’s growing ineffectiveness after its stellar role in averting a global financial meltdown and deep recession following the 2008 crisis. Its subsequent performance has never quite matched up to that as the body traversed from crisis to recovery mode. Consensus and cooperation has eluded it more often than not since, in part because of shift in focus to more complex, underlying economic issues.
Advanced economies hold China responsible for global steel overcapacity. Yet, the postwar era has witnessed two steel overcapacity crises. The current debate cannot ignore past lessons.
