Energy

Why do we think Vladimir Putin will not use “the bomb” when there is so much evidence that he will?

U.S. President Joe Biden has spoken frequently of restoring the United States’ credibility as a global leader. That task, which comes at a moment of global crisis, will require the United States to recommit to multilateral diplomacy, even while managing a dangerously deteriorating relationship with China. By acting on biosecurity—a neglected priority hiding in plain sight—Biden can make progress on all of these goals. Washington has an opportunity to lead in an era of heightened great-power competition, address the need for arms control measures that reduce the risk of biological weapons, and potentially even push China to cooperate to that end.  

The geopolitical and geo-economic forces wrought by the coronavirus pandemic, as examined previously in this series, are likely to slow the transition to a more sustainable global energy mix. Fortunately, the pandemic has also resulted in governments gaining vastly greater influence over whether this shift stalls or accelerates.

For most people, there was nothing to celebrate when the International Monetary Fund downgraded its outlook for global economic growth in June, anticipating a contraction of 4.9% for 2020. Yet for others, such as the small but persistent group of economists and others known as the “degrowth movement,” the Covid-induced economic slowdown has a silver lining.

The search for silver linings to the coronavirus pandemic has come up woefully short. But one hopeful — and much talked of — prospect is that the disruption will accelerate the global shift to a more sustainable energy future.

Today’s economic crisis leaves us with an unsettling and perplexing regret. Why weren’t financial portfolios already adjusted for risks that stem from health events such as pandemics? After all, financial portfolios are adjusted for liquidity risks, market risks, credit risks, and even operational and political risks.