Remember the roaring 20s? Even as Covid gripped the world, optimists piped up that the economy would come roaring out of the pandemic, bolstering incomes and kickstarting an almighty boom. Harking back to the Spanish flu pandemic of a century earlier, they saw a decade of glorious growth ahead. Well, they were wrong. Ahead lies not roaring but snoring; no boom, but ever-deepening gloom. That is the message from the International Monetary Fund and the World Bank, which are holding their spring meetings in Washington DC this week. In its…
Tag: Poverty
British Gas is ready to bully beyond the grave | Brief letters
“It’s not who we are,” says British Gas in response to criticism of its bullying tactics (‘It’s not who we are,’ wails British Gas. Sorry but when you’re using bailiffs to install meters, that’s exactly who you are, 3 February). Oh, yes it is. This is a company with a “bereavement team” that is, in fact, a debt collection agency. Nothing could surprise me now about British Gas. Edith Nicoll Menstrie, Clackmannanshire In response to Janet Mansfield (Letters, 1 February), as a politics teacher at Loreto sixth-form college in Manchester,…
Three Things Americans Should Learn From Xi’s China
About four decades ago, Chinese Communist Party officials scoured the world for best practices, which they cautiously piloted to create the economic miracle that their country showcases today. These days, though, the Communist Party champions Chinese solutions, and not just for China but also for the rest of the world. Xi Jinping, who just received an unusual third term at the helm of the world’s most populous country, embodies a far more confident China that has begun to portray itself as an alternative to the West. Creating a Chinese version…
How Many People Have Escaped Poverty?
How Many People Have Escaped Poverty? Lucy Tompkins⏳ Reporting on futures past Greg Baker/Agence France-Presse — Getty Images China, the most populous country, accounted for the vast majority of the reduction. As China’s economy grew at a staggering rate, incomes and living standards rose with it. But extreme poverty also declined in much of the world. NYT