Author: ovieoftoronto

So far, the global economy appears to have dodged a bullet. Predictions of economic recession due to interest rate hikes by the world's major central banks have not materialized. But problems abound beneath the surface, and far below, and there are warnings that the current situation is not sustainable.A man wearing a protective mask walks in front of an electronic bulletin board in the lobby of the Shanghai Stock Exchange Building, Friday, February 14, 2020, China. [AP Photo]This was the theme of an editorial in The Economist published over the weekend. “The global economy is defying gravity. It won't last.”…

Israeli troops divided the northern and southern parts of Gaza, as communications across the besieged territory were gradually restored Monday after being cut for a third time since the war started. The troops were expected to enter Gaza City on Monday or Tuesday, Israeli media reported.The Palestinian death toll in the Israel-Hamas war surpassed 10,000, including more than 4,100 children and 2,640 women, according to the Hamas-run Health Ministry in Gaza.The developments come as an Israeli strike hit the roof of Gaza City’s Shifa Hospital, killing a number of displaced people sheltering on its top floor and destroying solar panels,…

Sun, Nov 5 2023 8:51 AM ESTBlinken makes a stopover in CyprusU.S. Secretary of State Antony Blinken speaks with President of Cyprus Nikos Christodoulides on the tarmac, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, at Larnaca International Airport in Larnaca, Cyprus, on Nov. 5, 2023.Jonathan Ernst | ReutersU.S. Secretary of State Antony Blinken is making a short detour on his urgent Mideast diplomacy tour, stopping in Cyprus where he’s meeting the nation’s leader.The State Department said Blinken was meeting briefly on Sunday with Cypriot President Nikos Christodoulides and Foreign Minister Constantinos Kombos mainly to thank…

China passed a significant milestone last fall: For the first time since its economic opening more than four decades ago, it traded more with developing countries than the U.S., Europe and Japan combined. It was one of the clearest signs yet that China and the West are going in different directions as tensions increase over trade, technology, security and other thorny issues. China passed a significant milestone last fall: For the first time since its economic opening more than four decades ago, it traded more with developing countries than the U.S., Europe and Japan combined. It was one of the…

Thanks to the China International Import Expo (CIIE), local jute handicrafts from Bangladesh are brought to China and distributed around the world through various sales channels within China.Bangladeshi businessman Nurs Safa said CIIE and the Chinese market are improving the lives of Bangladeshi workers and providing life-changing opportunities for poor local families.Safa has been participating in the expo for five years and was hoping to meet more customers at the upcoming 6th CIIE, which will be held in Shanghai from November 5th to 10th.Chinese Premier Li Qiang will attend the opening ceremony of the 6th CIIE on Sunday and deliver…

A week after naming York University in a $15 million class action lawsuit alleging failure to address recurring anti-Semitic incidents, law firm Diamond and Diamond has named three more Canadian universities in similar lawsuits. In a release Thursday, Diamond and Diamond said it has now also launched $15 million class actions lawsuits against Toronto Metropolitan University, Queens University and The University of British Columbia, representing present Jewish students and alumni dating back to 1998. “The defendants are alleged to have shown negligence, specifically in failing to address anti-Semitic incidents, violating the institution’s non-discrimination policies and providing insufficient staff training on handling harassment,”…

Fri, Nov 3 2023 1:45 AM EDTUAE warns against risk of regional spillover from Gaza warGulf Arab power the United Arab Emirates warned on Friday that there was a real risk of a regional spillover from the Israel-Hamas war in Gaza, adding that it was working “relentlessly” to secure a humanitarian ceasefire.The UAE was the most prominent Arab country to sign the 2020 Abraham Accords, a series of pacts with Israel, which the latter hoped would pave the way to normalization of ties with Muslim superpower Saudi Arabia, but the war dealt those plans a blow.”As we continue working to stop this…

Please listen to this story. Enjoy more audio and podcasts on iOS or Android.What browser are you using? element is not supported.Even as wars intensify and the geopolitical landscape darkens, the global economy remains an irresistible source of energy. Just a year ago, everyone agreed that high interest rates would soon cause a recession. Now even optimists are perplexed. The U.S. economy boomed in the third quarter, growing at an impressive annual rate of 4.9%. Inflation is falling around the world, unemployment rates remain near low, and major central banks may be halting monetary tightening. China, hit by a real…

This event is a book launch and discussion about Abraham Newman and Henry Farrell's upcoming book, “Underground Empire: How America Weaponizes World Economy.” The panel discussion will discuss the sustainability of these tactics, the weaponization of the global economy, how different major and emerging powers are responding, and the role the UK should play in both exploiting and mitigating these tactics. We are planning to discuss. Introducing speakers and chairs Henry Farrell (@Henry Farrell) is the SNF Agora Professor at Johns Hopkins University SAIS, the 2019 Friedrich Siedel Prize in Political Technology Award recipient, and the former editor-in-chief of The…

Not long ago, The Economist and Financial Times also highlighted the future of the global economy. Their review relates to the International Monetary Fund's (IMF) semi-annual publication, World Economic Outlook (WEO), October 2023. The IMF highlights the trend towards global economic fragmentation and the economic costs arising from the growing collapse of global trade.Globalization has brought positive benefits to the world economy, despite many criticisms such as those expressed by Joe Stiglitz (Nobel Prize winner in economics at Columbia University) and Dani Rodrik (Harvard University) . The global economy has been growing at 4-5% per year for the past 30…