Efforts to contain the COVID-19 pandemic have essentially shut down the economy. Now, as regions now look to reopen, the focus is shifting to minimizing further infection by monitoring the virus’s spread and notifying people who may have been exposed to it. Public health authorities around the globe have deployed or are developing contact-tracing or contact-notification mobile apps. Apple and Google have partnered to develop a Bluetooth-based, contact notification application programming interface, now available as an update for their mobile operating systems.
The global economy is in crisis. The International Monetary Fund now expects the most severe contraction in world output since the Great Depression, a decline that eclipses the downturn recorded in the global financial crisis a decade ago.
The world faced its last major global crisis twelve years ago. Out of it emerged the Group of Twenty (G20)—an informal forum for world leaders to address the economic challenges threatening the world economy at that time. Most observers gave the new body high marks for averting a global economic collapse and saw it as an important innovation in global governance. Leaders called it their premier forum for economic cooperation.
Early on in this century, a quiet revolution took place: businesses began putting more money and resources into developing things you can’t see. Uber doesn’t own cars. Airbnb doesn’t own properties. Rather, these two companies have grown exponentially through their data and software.
This is the third and final paper in a three-part series exploring the decision-making process in China.
The Bank of Canada’s fight against the next Great Recession began on March 4, when Governor Stephen Poloz and his five deputies cut the benchmark interest rate by half a percentage point.
China has actively supported the local semiconductor industry in the past decade, but it has proved that its ambition is far greater than its strength-in addition to expecting to lead the world in AI technology in 2030, as well as its blueprint for semiconductor production in its “Made in China 2025” plan.
George Leopold – EE Times