Global EconomyWatch video
“COVID-19 has been marked by U.S. and China exceptionalism. There is a long-term shift to addressing China as a strategic competitor underway as China reaches the size of the U.S. economy by the end of the decade.” Joyce Chang, Chair of Global Research
U.S.: The Biden administration is focusing on democratic principles, multilateral cooperation and a greener, more equitable future with fairer taxation, addressing China as a strategic competitor. Meanwhile, cyberattacks are on the rise as digital transformation has accelerated, with the U.S. calling for major democracies to protect national security interests.
International: COVID-19 has accelerated timelines to decarbonize and countries with net-zero pledges now account for 70% of global GDP. However, net-zero targets submitted to the United Nations as a nationally determined contribution (NDC) cover less than 50% of global emissions and only one-third of the global population.