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GZERO

The global economy: good news and bad news from economist Dambisa Moyo


Listen: In the latest episode of the GZERO World Podcast, Ian Bremmer sits down with economist, author, and member of the UK parliament’s House of Lords Dambisa Moyo for a hard look at the health of the world’s finances, the impact of geopolitical crises in Europe and the Middle East on trade flows and inflation, and how China’s economic woes are impacting everyone else.

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A man holds wheat grains during harvest in Qaha, El-Kalubia governorate, northeast of Cairo, Egypt.

REUTERS/Amr Abdallah Dalsh

What We’re Watching: Grain deal deadline, tech layoffs, interest rate ripples

Will the Black Sea grain deal be renewed?

Amid growing concern that Russia may refuse to renew a deal to allow food and fertilizer shipments to travel through a safe passage in the Black Sea, UN Secretary-General António Guterres this week visited Kyiv, where he called for the renewal of the agreement, which is set to lapse on March 18. Quick recap: The grain deal, negotiated by Turkey, the UN, Russia, and Ukraine, was implemented in the summer of 2022 in a bid to free up 20 million tons of grain stuck at Ukrainian ports due to Russia’s blockade. You’ll likely remember that the two states are both huge exporters of wheat, while Russia is also the global fertilizer king. Indeed, the deal has helped alleviate a global food crisis that was hitting import-reliant Africa particularly hard, and driving up global food prices. Kyiv, for its part, says that if the deal is expanded to additional ports it could export at least some of the 30 million tons of grain that remain stuck. The Kremlin hasn’t said what its plans are but this week accused the West of “shamelessly burying" the Black Sea deal in what could be used as a pretext for its refusal to play ball.

For more on what Guterres has to say about the ongoing war in Ukraine and its human toll, check out his interview with Ian Bremmer on GZERO World.

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Luisa Vieira

Resilience in an era of crisis

We live in an era of emergency. Since 2008, we’ve seen a global financial crisis, a sovereign debt crisis in Europe, and a wave of unrest that sparked political turmoil across North Africa and the Middle East. Civil wars in Syria and Libya helped trigger a migrant crisis that upended European politics. Then came Britain’s exit from the EU, the surprise election of a US president who upended the most basic assumptions about America’s role in the post-war world, and a political crisis in the wake of his defeat. Next came a global pandemic that has killed millions and continues to inflict human, economic, and political damage in every region of the world. Now we have Russia’s war on Ukraine, millions more refugees, and a global food emergency that has only just begun. All of that has happened in the past 14 years.

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Using today's crises to fix tomorrow's problems
Using Today’s Crises to Fix Tomorrow’s Problems | GZERO World

Using today's crises to fix tomorrow's problems

We're moving toward more illiberalism, zero trust in the US-China relationship, and other global crises. Are there any reasons for hope?

Not for political scientist and Harvard professor Stephen Walt, who believes we can't tackle all these crises at the same time — otherwise, at some point people will just throw up their hands and say it's just too hard.

What's more, he tells Ian Bremmer on GZERO World, when a crisis hits, the temptation to turn to strongman rule to fix the problem "goes way up."

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Ousted Pakistani Prime Minister Imran Khan travels on a vehicle to lead a protest march in Islamabad, Pakistan.

REUTERS/Akhtar Soomro

What We're Watching: Imran Khan's threat, a looming global recession, Bolsonaro-Biden meeting

Imran Khan issues dangerous ultimatum

Pakistan’s former Prime Minister Imran Khan – booted from the top job last month by a parliamentary no-confidence vote – has called on the country’s nascent government to hold new elections within six days or risk full-blown social upheaval. For weeks, Khan has been whipping supporters of his Pakistan Tehreek-e-Insaf Party into a frenzy, saying his ouster was perniciously orchestrated by Washington in conjunction with the newly minted PM Shehbaz Sharif. (Khan, of course, fails to acknowledge that his removal was in large part a reflection of dissatisfaction with the country’s imploding economy and dwindling foreign reserves.) Things got really bad this week when Khan led his supporters in a march from his home turf of Khyber Pakhtunkhwa province toward Islamabad. As throngs of angry PTI supporters tried to reach the capital, violent clashes with police ensued in multiple cities. The Supreme Court ordered police to remove barriers on highways that were preventing pro-Khan protesters from reaching Islamabad but said that protests in the capital needed to be confined to a specific area. That didn’t happen, and police responded to the violence and disorder with tear gas. This turmoil comes as Sharif is trying to convince the International Monetary Fund that Pakistan has gotten its act together to get funding back on track. Khan isn’t backing down, and the next week could be deadly.

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Want to help poor countries now? Open your markets to their farmers, World Bank chief tells wealthy nations
Want to help poor countries now? Open your markets to their farmers | Global Stage | GZERO Media

Want to help poor countries now? Open your markets to their farmers, World Bank chief tells wealthy nations

Many developing countries now face high inflation, especially rising food prices.

What can they do to alleviate some of that pain? Wealthy nations should step in by opening their markets to farmers from poor nations, World Bank President David Malpass says during a Global Stage livestream conversation hosted by GZERO Media in partnership with Microsoft.

"This is a moment to make friends, to help people that ... don't have as much."

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Episode 1: If the economy is good, why do I feel so bad?

Transcript

Listen: Last year the US economy grew 5.7%, the biggest growth rate in decades, yet at the beginning of 2022 fewer than 1 in 5 Americans thought it was strong. And as the world confronts the converging crises of pandemic and war in Ukraine, inflation and skyrocketing prices are further contributing to feelings of financial insecurity.

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Want small businesses to succeed? Enable them as problem-solvers
Want Small Businesses to Succeed? Enable Them As Problem-Solvers | GZERO Media

Want small businesses to succeed? Enable them as problem-solvers

After the 2008/2009 Great Recession, it took a decade for US small businesses to really start growing. But only about four months after COVID hit. Why?

Tom Sullivan, VP for VP of Small Business Policy at the US Chamber of Commerce, gave two reasons during a livestream conversation on small businesses and post-pandemic recovery hosted by GZERO Media in partnership with Visa.

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