When the world gets closer.

We help you see farther.

Sign up to our expressly international daily newsletter.

Economy

The Economic Paradox Of The “Post-COVID” Recovery

The current economic recovery is unlike any other in the labor market. For companies in the United States and Europe, recruitment is particularly tough. Resignations are exploding on both sides of the Atlantic and productivity is declining in places like France. These are all paradoxes confounding economists.

photo of a construction worker in Dublin walking away

A construction worker in Dublin

Guillaume de Calignon

PARIS — This is the great upheaval. COVID-19 has disrupted the balance of the labor market in Europe and the United States. As a result, the speed of the rebound in activity is like no other. In the Eurozone single currency market, the unemployment rate, which had already fallen to 7.5% in August, has nearly reached the level it had at the end of 2019. But this atypical recovery still leaves many questions that economists struggle to answer.

The first paradox is that, on both sides of the Atlantic, companies say they are having trouble finding people to hire. An anomaly in periods of economic recovery, since it normally takes time for the rise in unemployment to subside before the first recruitment difficulties appear.

Keep reading...Show less
You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Stories from the best international journalists.
  • Insights from the widest range of perspectives, languages and countries
Already a subscriber? Log in

When the world gets closer, we help you see farther

Sign up to our expressly international daily newsletter!
Geopolitics

Is Soft Power Dead?

With an activist Supreme Court creating a gap between democratic rhetoric and reality in the U.S., and Russia and China eager to flex military muscle, the full-force return to hard power looks bound for dominance.

U.S. flag and Chinese flag

Dominique Moïsi

-Analysis-

PARIS — Russia's war in Ukraine rages on, tensions are erupting in the South China Sea and now abortion rights are being stripped away in the U.S.: Looking around the world, we have to ask: what is left of the notion of soft power?

Stay up-to-date with the latest on the Russia-Ukraine war, with our exclusive international coverage.

Sign up to our free daily newsletter.

How can we talk about the power to convince when the power to coerce is increasingly the norm? And when there is such a gap between rhetoric and reality in the U.S. and in Russia and China, hard power almost seems to have become part of soft power?

“We will lead the world not by the example of our power, but by the power of our example,” Joe Biden said the day after his election. But what kind of example was he talking about? That of the Supreme Court’s judges, whose decision promises a terrible future to women and to all those who still wanted to believe in an enlightened and liberal America?

Keep reading...Show less

When the world gets closer, we help you see farther

Sign up to our expressly international daily newsletter!
You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Stories from the best international journalists.
  • Insights from the widest range of perspectives, languages and countries
Already a subscriber? Log in
THE LATEST
FOCUS
TRENDING TOPICS

Central to the tragic absurdity of this war is the question of language. Vladimir Putin has repeated that protecting ethnic Russians and the Russian-speaking populations of Ukraine was a driving motivation for his invasion.

Yet one month on, a quick look at the map shows that many of the worst-hit cities are those where Russian is the predominant language: Kharkiv, Odesa, Kherson.

Watch VideoShow less
MOST READ