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What the G20 Must Do (Project Syndicate, 4 min read) The G20 must step up with a coordinated fiscal effort, which could provide twice the impact of individual stimulus done in isolation, it should formally bring the WHO into its discussions, establish a fund to support WHO monitoring and research, lead by example and cancel all remaining in-person meetings scheduled for this year.
The Coronavirus Could Reshape Global Order (Foreign Affairs, 10 min read) China’s dominance in producing masks, respirators and other needed equipment combined with its decision to help countries such as Italy and Iran could shape foreign policy once the virus has been defeated. But the US could yet turnaround what has so far been an inadequate response, both domestically and globally.
Coping With Disasters: Lessons From Two Centuries of International Response (VoxEU, 6 min read) Data covering the past two centuries show that official lending generally spikes in times of crisis (war /natural disaster etc) with 1940-44 seeing 10% of US GDP extended annually, or $2trn in current terms. Large scale cross-border lending may therefore be a hallmark of COVID-19.