Overseas Headlines – March 04, 2021

United States:

Back to Work: What Recovery Felt Like for Millions of Americans

“It’s been a year since Covid-19 triggered the steepest economic collapse in modern U.S. history, with more than 22 million people thrown out of their jobs in a matter of weeks. Many have managed to find a way back to work. By comparison with the millions who remain unemployed, they may seem like the lucky ones, though it doesn’t always feel that way.”



U.K.’s Go-Big Budget Masks Cuts Seen as Austerity 2.0

“Prime Minister Boris Johnson’s government is being accused of dropping its pledge to end austerity after cutting a further 4 billion pounds ($5.8 billion) a year for departments in the budget. The reductions in day-to-day spending plans unveiled on Wednesday by Chancellor of the Exchequer Rishi Sunak set the stage for a challenging review of resources for government ministries later this year. It adds to savings of over 12 billion pounds announced just four months ago and suggests a squeeze for everything except health, defense and education.”



What to Watch as China Rolls Out an Economic Plan to Overtake the U.S.

“China kicks off its biggest political meeting of the year Friday, laying out plans that could propel the economy into the world’s biggest this decade. The annual gathering of the National People’s Congress carries an added significance this year with the Communist Party’s unveiling of its new five-year plan — a blueprint to boost the domestic market and reduce technological dependence on the outside world. Approval of the policies are predetermined, but the NPC meeting is an important mechanism through which the ruling party communicates its plans to the world.”




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