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Spanish Minister of Economic Affairs talking with the German Chief of Staff and acting finance minister. Photo: Thierry Monasse/Getty Images

The world may finally be getting out of a global downturn, according to NYT's Peter Goodman. "For the first time since the financial crisis a decade ago, all of the world’s major economies are growing," he writes.

Why it matters: "The world is now enjoying a positive feedback loop, with growing business confidence leading to more hiring, delivering gains in consumer spending. More money in consumer pockets gives businesses more reason to expand," Goodman notes.

Factors that have led to this growth:

  • United States: "[G]overnment spending unleashed during the previous administration, plus a recent $1.5 trillion shot of tax cuts."
  • Europe: Benefitting from "the effects of cheap money pumped out by its central bank."
  • "China has diminished fears of an abrupt halt to its decades-long growth trajectory."
  • Russia and the Middle East: rising oil prices
  • Mexico has "transcended fears that menacing trade rhetoric from the Trump administration would dent its economy"
  • Poland and Brazil have seen an increase in the number of online job listings

What they're saying: As Barret Kupelian, senior economist in the London office of PwC, told NYT: “If something bad happens in one economy, the fact that global growth is spread gives you more assurance that this is more sustainable.”

But, but, but: "Many economists are skeptical that the benefits of growth will reach beyond the educated, affluent, politically connected class that has captured most of the spoils in many countries and left behind working people whose wages have stagnated even as jobless rates have plunged."

Go deeper

Updated 2 hours ago - World

Up to 17 U.S. missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince this month. Photo: Richard Pierrin/AFP via Getty Images

Children were among up to 17 American Christian missionaries and their relatives kidnapped by a gang in Haiti on Saturday, the New York Times first reported.

The latest: Haitian police inspector Frantz Champagne identified the 400 Mawozo gang as the group responsible, in a statement to AP.

Hollywood union reaches deal with studios to avert strike

Photo: AaronP/Bauer-Griffin/GC Images

A Hollywood workers' union reached a tentative deal with studios, networks and streamers that will guarantee better working conditions, meal breaks and increased wages for low-paid workers, the International Alliance of Theatrical Stage Employees (IATSE) announced Saturday night.

Why it matters: The deal, which still needs to be ratified by IATSE members, will avert a nationwide strike by film and television workers that was set to start Monday. It would have been the first strike in the union's 128-year history.

Bill Clinton released from hospital following treatment for non-COVID infection

Photo: Tasos Katopodis/Getty Images/Bloomberg via Getty Images

Former President Bill Clinton was discharged from the University of California, Irvine Medical Center on Sunday, nearly a week after he was admitted for a non-COVID-related infection, according to his spokesperson Angel Ureña.

What they're saying: "His fever and white blood cell count are normalized and he will return home to New York to finish his course of antibiotics," wrote Dr. Alpesh Amin, who has been overseeing the team of doctors treating Clinton. "On behalf of everyone at UC Irvine Medical Center, we were honored to have treated him and will continue to monitor his progress."

Worth noting: Clinton had a urinary tract infection that spread to his bloodstream, per CNN.

  • The California-based medical team had been administering IV antibiotics and fluids, and was in constant communication with Clinton's New York team, including his cardiologist, according to the former president's physicians.
  • President Biden spoke by phone with Clinton on Friday to see how he was doing, and the catch-up included a discussion of recent politics.

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