The pandemic hit the global economy hard, and many economies are still hurting. But it could have been even worse. In May 2020, economic historian Adam Tooze told GZERO World that the world was facing a second Great Depression. Now in a new interview with Ian Bremmer, Tooze is back to explain why the US economy rebounded so surprisingly fast, while much of the rest of the world lags behind.

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Armed security personnel stand guard near the Serena Hotel in Islamabad, Pakistan, on April 19, 2026. Heightened security measures were implemented around the venue ahead of the scheduled second round of technical-level talks between U.S. and Iranian delegations, aimed at reaching a negotiated settlement to the weeks-long conflict that has disrupted global energy supplies.
Middle East Images via Reuters Connect

It’s unclear if the second round of US-Iran talks will go ahead in Pakistan after the US Navy intercepted and seized an Iranian-flagged cargo ship outside the Strait of Hormuz this weekend.

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Wall Street Journal Beijing bureau chief Jonathan Cheng says China has already won the tariff standoff, and the upcoming Trump-Xi Summit is a chance to project something bigger: that Beijing, not Washington, is the world's reliable partner.