Video

CNN Business: “Why oil prices are crashing and what it means”

Veronica Horton
21 April 2020

This video explores the standoff between Saudi Arabia and Russia over oil production. The clash between the two countries reached new levels at a recent meeting in Vienna where OPEC+ countries attempted to hammer out a solution to the current glut of oil on the market that is driving prices to long time lows. While it is clear that global demand for oil is at one of its lowest points ever thanks to the closures of most economies in respond to the COVID-19 pandemic, and that production of oil must be slowed, Russia is unwilling to do so, and Saudi Arabia has refused to reduce its production unless Russia does as well. While further negotiations have produced some acknowledgement that all oil producers will need to cut production at least until the global economy is reopened, just what those reductions will look like is still unknown, suggesting that uncertainty will continue to roil oil markets and for now prices are likely to remain low.

PBS News Hour: “Why COVID-19 could be the ‘last straw’ for Lebanon’s fragile economy”

Veronica Horton
20 April 2020

This video explores the bleak situation facing the county of Lebanon. Decades of corruption and fiscal mismanagement have put the country in a precarious position as it now faces both a foreign debt crisis and a banking crisis. Both of these crises are likely to be exacerbated by a health crisis related to the novel coronavirus pandemic that is quickly moving around the world. While Lebanon’s number of COVID-19 infections is still relatively low, the country’s lack of a real public health system together with its high levels of debt and a lack of confidence in its banking system have left the country in a vulnerable state. Lebanon has long imported more than it exports, raising questions as to whether it can be self-sufficient and if not, how it will pay for the goods and services its citizens need, especially as the country, following the example of much of the rest of the world, closes its businesses in an attempt to slow the spread of the novel coronavirus.

Apple and Google Team Up to Track COVID-19

Audrieanna Burgin
15 April 2020

Apple and Google are among the top technology companies in the United States, alongside Microsoft, Amazon, and Facebook. Google and Apple have released an announcement that they will work together to assist government and healthcare agencies in reducing the spread of COVID-19. Through usage of Bluetooth technologies, “the companies will work together to notify users if they have come in contact with someone who has tested positive for COVID-19.” Patients who have tested positive for COVID-19 are expected to be removed from the database once they test negative. Security and privacy are of high priority to both companies, they have stated “personal information and location data” will not be collected. Both companies are committed to full transparency.

NASA Finds Significant Decreases in China’s Air Pollution

Audrieanna Burgin
1 April 2020

NASA finds that COVD-19 has drastically reduced China’s air pollution. Through usage of the Ozone Monitoring Instrument (OMI) on NASA’s Aura satellite, NASA measured NO2 (nitrogen dioxide) levels in Wuhan, China. Nitrogen dioxide is emitted from the burning of fuel, primarily from transportation vessels and power plants. Every year, celebrations of the Lunar New Year normally result in business closures from late January to early February. During this time, NO2 levels drop and then eventually rise again. However, during January and February of 2020, China saw a reduction in NO2 levels of 10% to 30% below averages and expectations. Additionally, NO2 levels have not rebounded since the conclusion of the Lunar New Year Celebration.

BBC News: “Coronavirus: Carmakers Answer Pleas to Make Medical Supplies”

Veronica Horton
31 March 2020

Abstract: In response to desperate calls for help from government officials, doctors, and hospitals around the world, automakers are stepping up to help in the battle to stop the Covid-19 pandemic that has hit nations across the globe. Automakers, with…

PBS News Hour: “Economist Ken Rogoff on Whether the U.S. Has Ever Experienced A Crisis Like This One”

Veronica Horton
24 March 2020

As the economic fallout from the Covid-19 pandemic continues to pile up, Harvard economist Ken Rogoff says that a global recession is almost certainly in the cards, at least in the short term. Already filings for unemployment benefits have surged, stock markets around the world have crashed (taking with them the gains of the past three years), and factories and shops are shutting down. Many countries are now implementing emergency fiscal stimulus policies in an attempt to stop the carnage, but the economic chaos is expected to be especially challenging for developing countries and emerging markets. China, the origin of the novel coronavirus, now offers a glimpse of optimism as it begins to reopen its economy following its own period of social distancing and economic lockdown, although it is unclear who will buy its products if the rest of the world is staying home.

WSJ|Video: “Coronavirus Hits Companies in China, But They Still Have a Reason to Stay”

Veronica Horton
11 March 2020

This video explores the role of China as the factory floor for the world and an important market for many companies. China’s ascent to the number two economy in the world has been rapid and many companies now depend on the country both for production and sales.

Associated Press: “California Winemakers Squeezed by U.S.-China Trade War”

Veronica Horton
11 March 2020

This video explores the impact of the U.S. trade war with China on California’s winemakers. In response to tariffs imposed by the United States, China levied a series of tariffs on wine imported from California, pushing the price of California wines to as much as 60 percent more than the price prior to the tariffs. For California’s winemakers, the situation is becoming dire.

BBC News: “Coronavirus: South Africa’s economic victims”

Veronica Horton
11 March 2020

This video explores the impact of the novel coronavirus on South Africa’s lobster industry. Prior to the outbreak of COVID-19 in China, South Africa exported 80 to 90 percent of its lobster to China. Following the health crisis and the mandatory quarantine of so many people in China, demand for lobster has all but stopped, putting extreme pressure on South Africa’s fishing industry.

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