Britain economy in April was a record 27.6% larger than a year before, official data showed on Friday, an increase that reflects recent reopening and the scale of disruption to everyday life early in the coronavirus pandemic.
Global Economy
Latest news and headlines around the world related to the state of the global economy. – MasterMind Update
Group Of Twenty (G-20) GDP Returns To Pre-Pandemic Levels
The Group of Twenty (G-20) Nations economy saw gross domestic product return to pre-pandemic levels in the first quarter of 2021, but with large differences emerging between nations. GDP of the G-20 area grew by 0.8% in the first quarter, compared with the fourth quarter of 2020, according to the latest data from the Organisation for Economic Co-operation and Development released Thursday.
China Buys Fewer American Goods Last Month
China bought fewer American products in May versus the prior month, while exports to the U.S. rose, according to customs data released Monday. China bought $13.11 billion dollars’ worth of goods from the U.S. in May, down from $13.94 billion in April, data accessed through Wind Information showed.
World shares rise after EU reaches deal to support economies
Global stock markets rose on Tuesday after European leaders worked out a deal to support their virus-stricken economies. Shares rose in Paris, Frankfurt and London after a day of gains in Asia, while US futures pointed to gains on Wall Street.
Covid-19 outbreak is already upending health insurance premiums and copays for 2021
The Covid-19 pandemic is upending the United States health coverage market in unexpected ways, forcing some insurers to issue refunds to customers this year and complicating the models they use to set the prices for next year’s premiums and copays.
Google plans to invest ₹75,000 crore in India to boost digital economy
Technology giant Google has announced that it plans to invest over ₹75,000 crore($10 billion) in India over a period of 5-7 years. Google and Alphabet CEO Sundar Pichai made the announcement today at ‘Google for India’ virtual event. The Google’s investment in India will be made through equity investments and tie-ups, marking its biggest commitment to a growth market.
It’s hard to be the next China, not impossible
In the 1960s, Japan and Europe exported their way to post-World War II prosperity under the fixed exchange rates of the Bretton Woods agreement. The U.S. went off the gold standard in 1971, but the established way of doing things didn’t collapse. Thirty years later, China essayed the role of being the world economy’s periphery and selling cheap widgets to a revamped core — the West and Japan — with the help of an undervalued exchange rate.