{"id":329651,"date":"2021-08-24T17:03:00","date_gmt":"2021-08-24T14:03:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/project-syndicate-the-future-of-global-growth-is-in-peril\/"},"modified":"2021-08-24T17:03:00","modified_gmt":"2021-08-24T14:03:00","slug":"project-syndicate-the-future-of-global-growth-is-in-peril","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/project-syndicate-the-future-of-global-growth-is-in-peril\/","title":{"rendered":"#Project Syndicate: The future of global growth is in peril"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a407ae5471a7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a407ae5471a7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/project-syndicate-the-future-of-global-growth-is-in-peril\/#Climate_change_COVID_and_ensuing_supply-chain_disruptions_have_created_a_perfect_storm_that_will_retard_economic_growth_and_development_unless_we_unite_to_act_quickly\" >Climate change, COVID, and ensuing supply-chain disruptions have created a perfect storm that will retard economic growth and development unless we unite to act quickly<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/project-syndicate-the-future-of-global-growth-is-in-peril\/#Vaccine_hoarding\" >Vaccine hoarding<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/project-syndicate-the-future-of-global-growth-is-in-peril\/#Extreme_weather_all_the_time\" >Extreme weather all the time<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/project-syndicate-the-future-of-global-growth-is-in-peril\/#Economy_becoming_more_fragile\" >Economy becoming more fragile<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/project-syndicate-the-future-of-global-growth-is-in-peril\/#We_can_still_fix_this\" >We can still fix this<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/project-syndicate-the-future-of-global-growth-is-in-peril\/#More_commentary_from_Project_Syndicate_authors\" >More commentary from Project Syndicate authors<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/project-syndicate-the-future-of-global-growth-is-in-peril\/#Michael_Spence\" >Michael Spence<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Project Syndicate: The future of global growth is in peril<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Climate_change_COVID_and_ensuing_supply-chain_disruptions_have_created_a_perfect_storm_that_will_retard_economic_growth_and_development_unless_we_unite_to_act_quickly\"><\/span>\n  Climate change, COVID, and ensuing supply-chain disruptions have created a perfect storm that will retard economic growth and development unless we unite to act quickly<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000385285\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000385285\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p>\n<p> PORTOVENERE, Italy (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.project-syndicate.org\" class=\"icon none\">Project Syndicate)<\/a>\u2014As recently as three months ago, the global economy seemed to be on track for a relatively robust recovery. The supply of COVID-19 vaccines had expanded in the developed countries, raising hopes that it would spill over to developing countries in the second half of 2021 and into 2022. Many economies were posting impressive growth numbers as pandemic-suppressed sectors reopened. While clogged supply chains had produced a host of shortages and high prices for key inputs, these were seen as merely transitory problems.<\/p>\n<div class=\"paywall\">\n       The world looks very different now. The delta variant is spreading rapidly, including in developed countries and among cohorts who were hitherto less vulnerable to the virus. The unvaccinated parts of the world\u2014mostly lower-middle and lower-income countries\u2014are now more vulnerable than ever.\u00a0<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetPullQuote\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetPullQuote\n            article__inset--inline\n  \"><\/p>\n<div class=\"wsj-article-pullquote article__inset__pullquote \">\n<p class=\"pullquote-content article__inset__pullquote__quote\">\n        <span class=\"l-qt article__inset__pullquote__mark--left\">\u201c<\/span><br \/>\n        The outlook for the global economy has gone from hopeful to bleak in the space of just a few months, owing to the rise of the delta variant, climate-driven disasters, and previously under<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>reciated supply-chain disruptions. In fact, it is now hard not to conclude that future growth and development are in peril.<br \/>\n        <span class=\"r-qt article__inset__pullquote__mark--right\">\u201d<\/span><\/p><\/div>\n<\/p><\/div>\n<h6><span class=\"ez-toc-section\" id=\"Vaccine_hoarding\"><\/span>Vaccine hoarding<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> Moreover, the vaccine supply chain is failing. The principal reason is that developed countries have option contracts to buy many more vaccine doses than they need (even after accounting for an expansion of their programs to vaccinate younger people and administer booster shots). This lengthens the vaccine queue, thereby delaying the arrival of vaccines in much of the developing world.<\/p>\n<div data-layout=\"header\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaVideo\n            header\n  article__inset\n          article__inset--type-InsetMediaVideo\n            article__inset--header\n  \"><\/p>\n<figure class=\"media-object-video article__inset__video media-object-video--standard\">\n<div class=\"wsj-media-summary clearfix\">\n<div class=\"strap-container\">\n<h4 class=\"strap\" itemprop=\"description\">\n<\/h4><\/div>\n<\/p><\/div>\n<div class=\"video-container article__inset__video__player\" id=\"http:\/\/www.marketwatch.com\/news\/B7B2CDB2-583D-4F7B-B3F9-92EC53E1C34A\" data-src=\"http:\/\/www.marketwatch.com\/news\/B7B2CDB2-583D-4F7B-B3F9-92EC53E1C34A\" data-format=\"standard\" data-esplash=\"\" data-msplash=\"\" data-suppressheadline=\"\" data-verticalstill=\"\">\n  <\/div><figcaption class=\"wsj-article-caption article__inset__video__caption\">\n          The Biden administration announced that Americans who have been fully vaccinated with a two-dose regimen against Covid-19 should receive a booster, citing the threat from the highly contagious Delta variant. WSJ breaks down what you need to know. Photo: Hannah Beier\/Reuters<br \/>\n        <\/figcaption><\/figure>\n<\/div>\n<p>       The rich world\u2019s \u201cexcess orders\u201d need to be released and made available for purchase by other countries. A program to fund such purchases would not be very costly in global terms (on the order of $60 billion to $70 billion), and would yield im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te and long-term benefits in controlling the virus and preventing the emergence of dangerous new variants.<\/p>\n<\/p>\n<p>Another problem is that global supply chains have been more severely disrupted than previously thought. It is now apparent that the resulting shortages\u2014in labor, semiconductors (which are used in countless industries), construction materials, containers, and shipping capacity\u2014are not going away anytime soon. Surveys\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-18\/brexit-and-covid-add-to-inflationary-pressure-weighing-on-u-k?sref=GX0WPFvK\" class=\"icon none\">indicate<\/a>\u00a0that the inflationary effects are widespread across sectors and countries, and are likely to act as a persistent headwind to recovery and growth.\u00a0<\/p>\n<p><strong>Opinion:<\/strong> COVID-19 is causing yet another shipping bottleneck in China, driving container rates through the roof<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetPullQuote\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetPullQuote\n            article__inset--inline\n  \"><\/p>\n<div class=\"wsj-article-pullquote article__inset__pullquote \">\n<p class=\"pullquote-content article__inset__pullquote__quote\">\n        <span class=\"l-qt article__inset__pullquote__mark--left\">\u201c<\/span><br \/>\n        This new reality must eventually be reflected in asset and insurance prices.<br \/>\n        <span class=\"r-qt article__inset__pullquote__mark--right\">\u201d<\/span><\/p><\/div>\n<\/p><\/div>\n<p>       Adding to the uncertainty, there have been pandemic-induced shifts in domestic and global supply chains that are not yet well understood and will most likely be difficult to reverse. Indeed, the disruptions coming out of the pandemic are broader and appear to be exerting a stronger drag on the economy than did the recent trade war between the United States and China.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Extreme_weather_all_the_time\"><\/span>Extreme weather all the time<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> But the most eye-opening development of the past three months has been the dramatic increase in the frequency, severity, and global scope of extreme weather: storms, droughts, heat waves, higher average temperatures, fires, and floods. <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Earlier this month, the Intergovernmental Panel on Climate Change delivered a new\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ipcc.ch\/assessment-report\/ar6\/\" class=\"icon none\">report<\/a>\u00a0that has been bluntly\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/news.un.org\/en\/story\/2021\/08\/1097362\" class=\"icon none\">characterized<\/a>\u00a0as announcing \u201ccode red for humanity.\u201d The collective judgment of the scientific community suggests that this year\u2019s brutal experience is not an outlier; it is the new climate normal.\u00a0<\/p>\n<p>We therefore can expect more of the same (and probably much worse) for the next 20-30 years. The window for preventing the kinds of events we have seen this summer is closed. The challenge now is to accelerate the pace of reduction of greenhouse-gas emissions to avoid even more serious\u2014and potentially life-threatening\u2014climate-driven outcomes in the coming decades.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetPullQuote\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetPullQuote\n            article__inset--inline\n  \"><\/p>\n<div class=\"wsj-article-pullquote article__inset__pullquote \">\n<p class=\"pullquote-content article__inset__pullquote__quote\">\n        <span class=\"l-qt article__inset__pullquote__mark--left\">\u201c<\/span><br \/>\n        The collective judgment of the scientific community suggests that this year\u2019s brutal experience is not an outlier; it is the new climate normal.\u00a0<br \/>\n        <span class=\"r-qt article__inset__pullquote__mark--right\">\u201d<\/span><\/p><\/div>\n<\/p><\/div>\n<p>       Given the economic and climatic headwinds confronting the world, and that they will blow over a longer time horizon, future growth and development are in peril. In addition to being an obvious drag on growth, today\u2019s supply-chain disruptions may contribute to inflationary pressures that will demand a monetary-policy response.\u00a0<\/p>\n<p> <strong>John Taylor:<\/strong> The Fed should raise rates to 5% to quench overheating economy, Taylor rule says<\/p>\n<p>Similarly, a constantly morphing virus that becomes a semi-permanent feature of life will retard global growth and specialization. International <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a> will continue to struggle to recover. And while digital platforms can serve as partial substitutes, the impediments to mobility eventually will hit all the global economic and financial ecosystems that support innovation.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Economy_becoming_more_fragile\"><\/span>Economy becoming more fragile<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>In the past, extreme weather events were infrequent and local enough that the risks did not really affect the global macroeconomic outlook. But the new pattern already seems different. It is hard to think of a region that is not subject to elevated weather-related risks. A recent Federal Reserve\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/econres\/feds\/files\/2021054pap.pdf\" class=\"icon none\">paper<\/a>\u00a0warns that climate change could increase the frequency and severity of economic contractions, thereby reducing growth. Apart from the resources devoted to driving the recovery, this new reality must eventually be reflected in asset and insurance prices.<\/p>\n<p>The bottom line is that climate change is quickly becoming a noticeable factor in macroeconomic performance. Though we lack precise measures of economic fragility (that is, resilience in the face of shocks), it is hard not to conclude that the global economy, and especially some of its more vulnerable parts, is becoming more fragile. <\/p>\n<p>Lower-income developing countries already face significant challenges when it comes to demographic trends, adapting growth models to the digital era, and solving localized governance problems. Add fiscal constraints, climate-related volatility and pressure, and the long queue for vaccines, and you have the makings for a perfect storm.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"We_can_still_fix_this\"><\/span>We can still fix this<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Much of this is already baked into our immediate future. But not all of it is. Capital markets, for example, appear to be adjusting to the new reality, and solving the global vaccine supply challenge is neither impossibly complex nor prohibitively expensive. All that is needed is multilateral focus and commitment.<\/p>\n<p>The United Nations climate-change conference (COP26) in Glasgow this November will be crucial, and even more difficult than past climate-change conferences. The objective is to strengthen the national decarbonization commitments made in Paris at COP21, so that the global aggregate is consistent with a carbon budget that limits global warming to 1.5\u00b0C relative to the preindustrial level.<\/p>\n<p>Finally, since extreme climate events will occur more frequently and globally\u2014striking randomly almost anywhere\u2014private and social insurance systems will need a major upgrade to become multinational in scope. We may need a new international financial institution to take this on, working closely with the International Monetary Fund and the World Bank.<\/p>\n<p><strong><em>Michael Spence, a Nobel laureate in economics, is emeritus professor of economics and a former dean of the Graduate School of Business at Stanford University. He is senior fellow at the Hoover Institution, serves on the academic committee at Luohan Academy, and co-chairs the advisory board of the Asia Global Institute. He was chairman of the independent Commission on Growth and Development, an international body that from 2006-10 analyzed opportunities for global economic growth, and is the author of\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/us.macmillan.com\/books\/9781250007704\" class=\"icon none\">\u201cThe Next Convergence: The Future of Economic Growth in a Multispeed World<\/a>.\u201d<\/em><\/strong><\/p>\n<p><strong><em>This commentary was published with permission of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.project-syndicate.org\" class=\"icon none\">Project Syndicate<\/a> \u2014 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.project-syndicate.org\/commentary\/global-economy-headwinds-from-climate-change-delta-disrupted-supply-chains-by-michael-spence-2021-08\" class=\"icon none\">A World of Heat and Headwinds<\/a><\/em><\/strong><\/p>\n<h6><span class=\"ez-toc-section\" id=\"More_commentary_from_Project_Syndicate_authors\"><\/span>More commentary from Project Syndicate authors<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Big Tech flies too much. It\u2019s time for these companies to practice what they preach to help stop climate change<\/p>\n<p>Vaccines and masks aren\u2019t enough: How to end the COVID-19 pandemic<\/p>\n<p>If you want to fix climate change, you need to fix this flaw in conventional economic thought<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Michael Spence\",\"subhead\":\"The Wall Street Journal\",\"list\":[,{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/amspence98\",\"text\":\"@amspence98\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Michael_Spence\"><\/span>Michael Spence<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-75E1-05CE26F12826%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Project Syndicate: The future of global growth is in peril&#8221; Climate change, COVID, and ensuing supply-chain disruptions have created a perfect storm that will retard economic growth and development unless we unite to act quickly PORTOVENERE, Italy (Project Syndicate)\u2014As recently as three months ago, the global economy seemed to be on track for a relatively&#8230;<\/p>\n","protected":false},"author":1,"featured_media":329652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-329651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/329651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=329651"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/329651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/329652"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=329651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=329651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=329651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}