Comment – Default Options

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The world’s poorer nations are confronted by sharp recessions that threaten to endure. Poverty and inequality are rising rapidly, reversing earlier global income convergence. Public finances are coming under growing duress, and debt distress is mounting. The external liquidity support provided to date is looking increasingly inadequate. Defaults threaten to multiply in the absence of a thorough rich nation-led response. The difficulty may well be concentrating the minds of OECD policymakers on the issue. Non-OECD economies will suffer big falls in output this year …
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While America's China watchers furrow their brows over whether the Communist Party wants to "export" its ideology abroad, this story reveals, as if it were a scandal, that a US company operating in China said, "We’re not here to promote American values." https://www.wsj.com/articles/airbnb-executive-resigned-last-year-over-chinese-request-for-more-data-sharing-11605896753

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