BIZweek n°300 24 jui 2020
BIZweek n°300 24 jui 2020
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  • Parution : n°300 de 24 jui 2020

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 9

  • Taille du fichier PDF : 2,4 Mo

  • Dans ce numéro : déclarations d'Antonio Guterres, secrétaire général des Nations Unies.

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VENDREDI 24 JUILLET 2020 BIZWEEK ÉDITION 300 United Nations Secretary-General Antonio Guterres has warned the world is at a « breaking point » and calls for a new model for global governance to tackle inequalities exacerbated by the coronavirus pandemic. Delivering the annual Nelson Mandela lecture online on Saturday, Guterres said the pandemic « has been likened to an X-ray, revealing fractures in the fragile skeleton of the societies we have built ». « It is exposing fallacies and falsehoods everywhere  : The lie that free markets can deliver healthcare for all ; the fiction that unpaid care work is not work ; the delusion that we live in a post-racist world ; the myth that we are all in the same boat, » the UN chief said. He outlined the main drivers of inequality including systemic racism, the legacy of colonialism, patriarchy, gaps in access to technology, and inequalities in global governance. « The nations that came out on top 70 years ago have refused to contemplate the reforms needed to change power relations in international institutions, » Guterres said in his blunt speech, pointing to the voting rights in the United Nations Security Council (UNSC), where the United Kingdom, China, France, Russia and the United States have veto powers. Guterres said the response to the pandemic « must be based on a new social contract and a new global deal that create equal opportunities for alland respect the rights and freedoms of all ». Inequality starts at the top The new model would ensure inclusive and equal participation in global institutions, fair globalisation, a stronger voice for the developing world in global decision-making, and a more inclusive and balanced multilateral trading system, he said. He said developed countries are strongly invested in their own survival and have « failed to deliver the support needed to help the developing world through these dangerous times ». The novel coronavirus has infected more than 14 million people and there have been nearly 600,000 known deaths worldwide. The UN has appealed for $10.3bn to help poor states, but has received only $1.7bn. Developing countries, and especially African nations, are underrepresented at the levels of power including at financial institutions such as the World Bank and political ones like the UNSC. « The nations that came out on top more than seven decades ago have refused to contemplate the reforms needed to change power relations in international institutions, » Guterres said. « The composition and voting rights in the United Nations Security Council and the boards of the Bretton Woods system are a case in point. « Inequality starts at the top  : in global institutions. Addressing must start by reforming them, » Guterres said. ‘Pay their fair share’A new generation of social protection is needed, including universal health coverage and perhaps a universal basic income, he said, adding « individuals and corporations must pay their fair share ». Education spending in low and middle-income countries should more than double by 2030 to $3 trillion a year, he said. In the face LA TOUR World ‘at the breaking point’with vast inequality A new generation of social protection is needed - including universal healthcare and a universal basic income. The speech by the UN chief took aim at the vast inequality of wealth - the 26 richest people in the world hold as much wealth as half the global population, Guterres said. The legacy of colonialism still reverberates, Guterres added, and it shows in global power relations WORLD ECONOMIC FORUM of enormous shifts from climate change, governments should tax carbon instead of people. Answering questions after his speech, Guterres called for « massive support » for the developing world including debt write-offs. He said the suspension of debt payments until the end of this year, which was agreedupon by the G20, the world’s 20 major economic powers, « is clearly not enough ». And he noted, without naming names, China could overtake the US as the world’s largest economy by 2024 According to data from the World Bank and International Monetary Fund (IMF), these are the largest global economies, since 1992  : United States, Japan, Germany, France, United Kingdom, China, Russia, India, France… The data also predicts China will overtake the U.S. in the future, with India taking third spot. Over the years, from 1992 to 2008, some countries are no longer in the list of countries with the highest Gross Domestic Product (GDP). For instance, Italy, Spain, Canada. According to data from the World Bank and International Monetary Fund (IMF), Asian countries are expected to makeup most of the top 5 countries in the world by size of ANTONIO GUTERRES, UNITED NATIONS SECRETARY-GENERAL GDP in 2024, relegating European economic powerhouses to lower ranks. China’s economic growth has been steep since the 1990s, while India and Indonesia have even more recently entered the top 10 of the biggest economies in the world and are expected to reach ranks 3 and 5 by 2024. Japan, an established economy, is expected to cling on to rank 4 in 2024, while Russia will rise to rank 6. Asia’s burgeoning middle classis one of the reasons for the continental shift in GDP. While China has been the posterchild of market growth in the 21st century so far, the country is expected to tackle an ageing population further down the line, which will put a damper on consumption. Indonesia, together with the Philippines and Malaysia, are expected to grow their labour forces significantly in the years to come, contributing to a rise in average disposable incomes, according to the World Economic Forum. Asian multinationals, like China’s Huawei and India’s Tata, have already emerged in this century and more are expected to appear on the global scene. But rapid growth in Asia also comes with its own set of problems, like a quickly growing divide between rural and urban incomes, environmental degradation and new challenges for governance and institutions, according to the FAO. [Source  : Katharina Buchholz, Data Journalist, Statista, 20 Jul 2020] Continental Shift  : The World's Biggest Economies Over Time Countries with the highest GDP on Earth in 1992, 2008 and 2024 a Asia III Europe a Americas Russia 1992 2008 2024'.U.S. U.S. Ir— Japan Japan China France Mie UK -IN China mIndic. IndaoPotin j aa Mallim. France Russia Mn'Italy if Russia Russia mil a * projection Source  : World Bank and IMF that « leadership and power are not always aligned ». « Let’s face facts, » Guterres said in his address. « The global political and economic system is not delivering on critical global public goods  : public health, climate action, sustainable development, peace. » Guterres concluded  : « Now is the time for global leaders to decide  : Will we succumbto chaos, division and inequality ? Or will we right the wrongs of the past and move forward together for the good of all ? » 9 statista 4
VENDREDI 24 JUILLET 2020 BIZWEEK ÉDITION 300 You won’t believehow many airlines haven’t survived What’s shocking is to witness just how many airlines have folded or filed for bankruptcy during the coronavirus pandemic. And even for airlines that are still in business, it’s not great  : A recent study says that US carriers have given out $10 billion in vouchers due to the pandemic. Here, we take a look at some of the biggest coronavirus-related airline casualties around the world. Airline casualties due to Coronavirus LATAM  : So far, the largest airline to crash because of coronavirus is Chile’s LATAM, which filed for U.S. bankruptcy protection in May due to the pandemic. LATAM says it will continue flying as it restructures its debts in bankruptcy court. Avianca Holdings  : The second-largest carrier in South America, Avianca survived the Great Depression—but not coronavirus. The airline filed for Chapter 11 bankruptcy protection in May. Like LATAM, Avianca will continue flying during the restructuring. Virgin Australia  : After almost 20 years of operation, Virgin Australia—the country’s second-biggest airline—filed for voluntary administration, the equivalent of bankruptcy restructuring. It’s the largest airline to collapse in Australian history. The private equity group Bain Capital recently agreed to buy the airline for an undisclosed sum ; its future remains unknown. Flybe  : The British regional airline Flybe was ACTA PUBLICA Coronavirus Although things have been starting to pick backup in travel, it’s no secret that the airline industry has been hard hit by the coronavirus pandemic. The International Air Transport Association (IATA) is saying that global losses could reach billions of dollars, and last month, the aviation consultancy CAPA predicted that « most airlines in the world will be bankrupt » without help. There has even been talk of American Airlines’demise LAURA BEGLEY BLOOM, Senior Contributor Forbes Women Transformative Travel  : I look at how travel can change lives. FORBES struggling before coronavirus and even the UK government and Virgin Atlantic tried to save it. But no luck—the airline entered voluntary administration, similar to bankruptcy, in March. Staffers lost their jobs overnight. Miami Air International  : After 29 years in service, Miami Air International filed for Chapter 11, then proceeded to cease operations. While small, the charter airline had a fleet of Boeing 737s and operated worldwide passenger flights for cruise operators, professional sports teams, the US military and more. RavnAir  : Alaska’s largest regional air carrier filed for bankruptcy in April and is about to goup for auction. The airline previously serviced 115 rural communities, flying passengers, freight and mail around the state. Trans States Airlines  : St. Louis-based Trans States Airlines, which flew regional routes for United Express, ceased operations in April. The airline had originally planned to keep flying until the end of 2020, but due to coronavirus, business stopped sooner. Compass Airlines  : Regional carrier Compass Airlines, which provides service for American Eagle and Delta Connection, also shut down in April. Air Deccan  : In April, Air Deccan—a regional airline that used to be India’s largest low-cost carrier—ceased operations due to the pandemic. BRA  : At the beginning of April, Swedish airline BRA applied for court-administered reorganization to protect the airline from bankruptcy. BRA discontinued all flights but might start backup after the summer. Air Mauritius  : In April, Air Mauritius entered into voluntary administration to avoid going bankrupt. But the airline says it hopes to start international flights again in September. South African Airways  : Meanwhile, things haven’t been great in South Africa,either  : South African Airways’future has been in the lurch with talk of the government shutting it down and starting a new national airline. SunExpress Deutschland  : A Turkish airline jointly owned by Lufthansa and Turkish Airlines, SunExpress Deutschland flies to popular Turkish vacation spots—but not for long. Flight operations will be discontinued shortly and the airline will go into liquidation. Level Europe  : The latest airline casualty of the coronavirus is Austria-based budget airline Level Europe, which recently announced plans to file for insolvency. 5

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