We’re covering the global scramble for migrant workers and solutions to an oil crisis.
Wealthy nations battle it out for migrants
As the pandemic heads into a third year, a global battle for young immigrant workers is underway. With fast-track visas and promises of permanent residency, many wealthy nations are sending a message: Help wanted. Now.
The push is especially focused on immigrants with skills that fall somewhere between physical labor and specialized higher education.
A new Immigration Act in Germany offers accelerated work visas and six months to visit and find a job. Officials had warned that the country needs 400,000 new immigrants a year to fill jobs in a range of fields from academia to air-conditioning work.
Canada plans to give residency to 1.2 million new immigrants by 2023. Israel recently finalized a deal to bring health care workers from Nepal. And in Australia, where mines, hospitals and pubs are all short-handed after nearly two years with a closed border, the government intends to roughly double the number of immigrants it allows into the country over the next year.
Big picture: By keeping so many people in place, the pandemic has made demographic imbalances more obvious — rapidly aging rich nations produce too few new workers, while countries with a surplus of young people often lack work for all.
What’s next: Many developed nations are building more sophisticated immigration programs, while the U.S. is stuck in place. The Biden administration is first trying to unclog what’s already there: Its social policy bill would free up hundreds of thousands of green cards dating back to 1992.
In other news:
Leaders try to ease oil crunch
The U.S., Britain, China, India, Japan and Korea are going to release tens of millions of barrels of crude oil to combat soaring global prices.
In the U.S., President Biden ordered the release from the nation’s emergency stockpile of crude, the largest in the world, amid a jump in gas prices. It comes after Biden pushed OPEC to increase production, but was rebuffed. The OPEC Plus nations may reconsider at their meeting next week after such a coordinated release.
It remains unclear how much it will impact the price of oil. Traders had been expecting a larger release of as much as 100 million barrels, said Richard Bronze, head of geopolitics at Energy Aspects, a market research firm. China, he said, is holding off announcing on Tuesday.
Details: The U.S. will tap into 50 million barrels. Bronze estimated that India will contribute up to five million barrels, and that Japan and South Korea will add another four million to five million barrels each. Britain said it would authorize the release of up to 1.5 million barrels.
The crunch: Oil-producing nations cut output as demand fell early in the pandemic. In the U.S., the oil rig count was down nearly 70 percent in summer 2020.
Pakistan seeks an I.M.F. lifeline
Rising prices and a weakened currency are straining households in Pakistan. Inflation surged 9.2 percent in October from the year before.
While the strain is expected to ease as bottlenecks of the global supply chain are unsnarled, Pakistan feels it can’t wait. The government on Monday announced an agreement with the International Monetary Fund for the first $1 billion of what is expected to be a $6 billion rescue package.
Protests have broken out across the country in recent weeks, shifting regional politics, and everyone from small shop owners to banks have felt the squeeze of the supply and inflation crisis combined with a longstanding government debt.
The government has chased loans from Saudi Arabia, which pledged $4.2 billion in cash assistance, and from China.
Risks: The government, under Prime Minister Imran Khan, has distributed cash to 20 million of Pakistan’s poorest families and subsidized the cost of grains, legumes and cooking oil. If Pakistan finalizes an agreement with the I.M.F., it will have to tighten its purse strings, which could hurt Khan politically.
Context: Pakistanis have seen standard gas prices jump 34 percent in the last six months, to about 146 rupees a liter.
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Around the World and Beyond
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ARTS AND IDEAS
Notable books of the past year
Whether your literary habits include sci-fi, poetry or nonfiction, The Times Book Review’s annual roundup of 100 notable books includes options for you. “We whittled down an initial list of something like 500 books,” Gregory Cowles, who helped edit the project, said. Here’s a sample:
Fiction: “Strange Beasts of China,” by Yan Ge, is an enchanting novel about a cryptozoologist pursuing fabled creatures.
Memoir: “Somebody’s Daughter,” by Ashley C. Ford, begins with a phone call in which the author learns that her father is coming home after almost 30 years in prison.
Nonfiction: “A Little Devil in America: Notes in Praise of Black Performance,” by Hanif Abdurraqib, makes powerful observations about race through music, television, film, minstrel shows and vaudeville.
Stories: “Afterparties,” by Anthony Veasna So, is a deeply personal, frankly funny and illuminating debut about Cambodian life in California, published eight months after the author’s death at 28.
PLAY, WATCH, EAT
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