With the socio-economic conditions created by COVID-19 both exposing and worsening a myriad of systemic issues throughout the world, the last thing global labor rights activists expected was to gain more bargaining power. However, CBNC emphasizes that the pandemic has resulted in a massive labor shortage in almost every country, putting power back in the hands of the working class.
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Voters in Ecuador elected Guillermo Lasso, a conservative banker, to serve as president for the next four years. Lasso won the runoff election with just 52.5 percent of the votes, reports The Economist, after claiming a spot in the runoff with a lead of a half a percentage point.
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As the United States nears its one-year anniversary with the COVID-19 pandemic and subsequent lockdowns, many Americans are struggling with rent payments, home mortgages, and even putting food on the table. As Congress continues negotiating a third stimulus package and vaccine rollouts continue across the country, many anxious Americans wonder if the bill should include further provisions like building up our digital infrastructure or investing in a Green Economy.
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Tariffs have led to devastating results throughout history. Alexander Hamilton’s tariffs attempted to protect fledgling American businesses from British competition, resulting in higher domestic prices, inefficient business models, and finally the War of 1812. Another example is the 1930 Smoot-Hawley Tariff; duties on all goods were raised to a whopping 60 percent. According to PRI, it just so happens that the highest tariff in history was implemented on the eve of the Great Depression. They simply cause economic pain.
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As the world hits over a million total confirmed cases of COVID-19, the world economy remains in a comatose state due to government mitigation policies designed to slow the infection rate of the virus.
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Among the other devastating effects of COVID-19, widespread uncertainty has been the most damaging to the international community and the global market.
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In the past couple of years, banks have recovered from the 2008 financial crisis, but it appears climate change may be the latest challenge to maintain international financial stability.
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On Monday, March 8, oil prices plunged over 20 percent after Saudi Arabia announced plans to ramp up production in retaliation to Russia’s rejection of production cuts.
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The Argentinian economy is struggling once again.
Read moreTruckers’ Strike Leads Brazil to Chaos Luisa Chainferber Staff Writer On May 21, Brazilian truckers started a nation-wide strike to
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