Despite growing signs of a dramatic and global economic downturn stemming from the coronavirus pandemic, the small South American country of Guyana appears poised for a period of spectacular economic growth. In its recent semiannual report on Latin America and the Caribbean, the World Bank forecasts a 4.6 percent contraction for the region’s economy in 2020, followed by an expansion of 2.6 percent in 2021. However, the World Bank sees Guyana’s economy skyrocketing by 51.7 percent in 2020, before leveling off to 8.7 percent in 2021. The reason for this very rosy outlook? In December, ExxonMobil began pumping oil from [...]
The relationship between the United States and China has waxed and waned over the years, but it has felt more like a roller coaster ride under President Donald Trump. China-bashing was a centerpiece of his election campaign, yet once in office, Trump hailed his first meeting with Chinese President Xi Jinping, at Trump’s Florida estate, Mar-a-Lago, saying they had “great chemistry.” More than two years later, after Trump had launched his damaging trade war with China and with no deal to resolve it in sight, Trump called Xi an enemy and “ordered” American firms to leave China. By January of [...]
Late on the night of April 20, President Donald Trump abruptly announced on Twitter that he would “temporarily suspend immigration to the United States” as the toll from the coronavirus pandemic continued to rise. Trump cast the decision as a response to COVID-19 and its economic devastation—“In light of the attack from the Invisible Enemy, as well as the need to protect the jobs of our GREAT American Citizens,” as he tweeted. The move, which caught his own administration off guard, elicited fevered commentary over his legal authority to do so, and its potential economic costs. After an outcry from [...]
