Samson: NASA is preparing to test the “most powerful” missile in the world
9th January, 2021
The American agency “NASA” is preparing to test the most powerful rocket engine in the world, known as the space launch system (SLS), which will take astronauts to the moon and Mars one day.
And according to the British newspaper “Daily Mail”, the agency decided to test the engine, which could reach speeds of 17,500 miles per hour, later this month.
The agency confirmed that the four huge engines will be installed on the ground during the ignition test called “Hot Fire”, which is the final test before the launch of the unmanned test flight later this year.
The missile has already undergone a number of static engine tests, and the next test will happen after January 17.
The SLS engine is designed to be the backbone of the Artemis program, which will get the first woman to the moon in 2024, and bring humans to Mars in the 1930s.
The $ 18 billion missile was first announced in 2011 and is set to reach speeds of 17,500 miles per hour to take humans and technology deep into space. LINK
Samson: The World Bank: The Global Economy Will Grow By 4% In 2021
9th January, 2021
Although the global economic output is recovering from the collapse caused by the Corona pandemic, the World Bank predicted in a report issued that it would remain for a long time without general trends before the outbreak of the pandemic, which exacerbated the risks associated with a wave of global debt accumulation that lasted ten years.
The World Bank suggested that the pandemic would increase the severity of the slow growth that is expected to extend over the next decade, noting that the main immediate priorities are to limit the spread of the virus, provide assistance to the disadvantaged population, and overcome the challenges associated with the vaccine.
He pointed out that in light of the severe weakness of public finance centers, which restricts government support measures in many countries, there is a need to focus on ambitious reforms to revive strong growth. International cooperation is vital to addressing many of these challenges.
Development risks persist as economic activity and income remain low
The World Bank expected that the global economy will grow by 4% in 2021, assuming that the initial distribution of Coronavirus (Covid-19) vaccines will become widespread during the year. But the bank says in its January 2021 Global Economic Prospects report that the recovery will likely be weak, unless policymakers act decisively to curb the pandemic and implement reforms to boost investment. He added, although the global economy is growing again after shrinking by 4.3% in 2020, the pandemic has caused heavy losses in deaths and illnesses, and pushed millions towards poverty, and perhaps reduced economic activity and income for a long time.
Commenting on the report, World Bank Group President David Malpass said, “As the global economy appears to be in a weak recovery, policymakers face daunting challenges – in public health, debt management, budget policies, central bank activities and structural reforms – at a time when they seek to ensure that this still fragile global recovery gains momentum and lays the foundation for strong growth … To overcome the effects of the pandemic and combat adverse factors on the investment front, a major push is needed to improve the business environment, increase labor and product market flexibility, and enhance transparency and governance.”
According to World Bank estimates, the collapse of global economic activity in 2020 was slightly less severe than previously expected, mainly due to the less severe contraction in advanced economies and the more robust recovery in China. In contrast, the disruption of activity in most emerging market and developing economies was more severe than expected.
“There is a need to address financial fragility in many of these countries, as the growth shock affected the budgets of disadvantaged households and corporate budgets,” said Carmen Reinhart, Vice President and Chief Economist at the World Bank Group.
Details in a section of the report reveal that the near-term outlook is still characterized by high uncertainty, and that different growth outcomes are likely. The poor-conditions scenario, which includes continued high infections and delayed distribution of vaccines, indicates the possibility of restricting global growth at 1.6% in 2021. At the same time, the improvement scenario, which includes success in controlling the pandemic and accelerating the distribution of vaccines, indicates Global growth may accelerate by up to 5%.
In advanced economies, the emerging recovery faltered in the third quarter after infections surged again, indicating a slow recovery and facing many challenges. The GDP of the United States is expected to grow 3.5% in 2021, after contracting at an expected rate of 3.6% in 2020. In the euro area, output is expected to grow 3.6% in the current year, after a decline of 7.4% in 2020. It is expected that Activity in Japan, which saw a contraction of 5.3% in the year that just ended, is growing at a rate of 2.5% in 2021. Total GDP is expected to grow in the economies of emerging markets and developing countries, including China, 5% in 2021, after shrinking 2.6% in 2020. The Chinese economy is expected to grow 7.9% this year after recording a growth rate of 2% in last year. Excluding China, emerging market and developing economies are expected to grow by 3.4% in 2021 after contracting by 5% in 2020. In low-income economies, activity is expected to rise 3.3% in 2021, after shrinking by 0.9% in 2020.
Analytical sections from the latest Global Economic Outlook review how the pandemic has exacerbated the risks surrounding debt build-up. How it might hold back growth in the long term in the absence of coordinated reform efforts, and what are the risks associated with using asset purchase programs as a tool of monetary policy in emerging market and developing economies.
“The pandemic has significantly exacerbated debt risks in emerging market economies and developing countries,” said Ayhan Kos, Acting Vice President of the World Bank for Equitable Growth, Finance and Institutions. Weak growth prospects will likely increase debt burdens and erode borrowers’ ability to service the debt burden. The international community needs to act quickly and firmly ensure that the recent debt buildup does not end with a series of debt crises. The developing world cannot afford another lost decade.”
And just as severe crises have done in the past, the pandemic is expected to have continuing adverse impacts on global activity. It is likely to exacerbate the slowdown in projected global growth over the next decade due to underinvestment, declining employment, and shrinking workforces in many advanced economies. If we are to learn lessons from history, the global economy is heading towards a decade of disappointing growth unless policymakers implement comprehensive reforms that improve the main drivers of equitable and sustainable economic growth.
Policymakers need to continue to sustain the recovery, gradually shifting from income support to growth-enhancing policies. In the longer term, in emerging market and developing economies, policies aimed at improving health and education services, digital infrastructure, climate resilience, corporate and governance practices will alleviate the economic damage from the pandemic, reduce poverty and boost shared prosperity. In a context of weak fiscal centers and rising debt, institutional reforms aimed at stimulating self-growth are of particular importance. In the past, investors recognized the returns to growth from reform efforts by raising their expectations of long-term growth and increased investment flows.
Central banks in some emerging market and developing economies are using asset purchase programs in response to financial market pressures from the pandemic, perhaps for the first time in many cases. When directed at addressing market failures, these programs seemed to contribute to stabilizing financial markets during the early stages of the crisis.
However, in economies where asset purchases continue to expand and are found to be financing the budget deficit, these programs may erode the independence of the central bank and threaten to weaken the currency, which leads to removing the pillars on which inflation expectations are based, and increasing concerns about debt sustainability. LINKTags: Global Economy /