Analysis & Opinions

This Week in COVID-19 and Economic Diplomacy: ‘Pandemic Will Have Uneven Impact’

| Aug. 20, 2020

Our weekly COVID-19 and Economic Diplomacy tracker looks at policies that impact the coordination of international governments and central banks, ongoing commentary and analysis, and asks what these turbulent times mean for economic diplomacy. 

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The Highlights

  • Experts are concerned that the U.S. economy could struggle to recover as states face a $555 billion budget shortfall through FY2022. Trump’s executive order extending unemployment benefits at $300/week may only provide three weeks of relief to workers.
  • EU employment fell by 2.6% in the second quarter, the largest recorded drop in its history. As the UK furlough scheme comes to an end, the country potentially faces a white collar jobs crisis. 
  • The African Union’s trade commissioner calls for intra-African trade as FDI investment is expected to drop 25% to 40% this year. The commissioner’s calls come as the AU finalizes a continent-wide free trade agreement.

U.S. Developments

European Developments

Emerging Markets

Odds and Ends

For more information on this publication: Belfer Communications Office
For Academic Citation: Suh, Hannah.“This Week in COVID-19 and Economic Diplomacy: ‘Pandemic Will Have Uneven Impact’.” , August 20, 2020.

The Author