Virus outbreak chills markets, outlook for global economy
4 years, 10 months ago

Virus outbreak chills markets, outlook for global economy

Associated Press  

FRANKFURT, Germany — The widening coronavirus outbreak threatens to seriously disrupt the global economy, just as it was steadying itself against headwinds from the U.S.-China trade dispute. “Compounded with the already dramatic interruptions to global supply chains in China, traders fear that a rapid spread of the disease to other major economies could be enough to temporarily tip global economic growth into contraction in the first half of the year,” said Matt Weller, global head of market research at GAIN Capital. Germany’s main DAX stock market closed a whopping 4% lower Monday.. “Given the latest developments, one has inevitably to talk about downside risks for German exporters,” said Andreas Rees, chief German economist at UniCredit. Nowthe world economy could see its first quarterly fall in seasonally adjusted output since the global financial crisisof more than a decade ago, says Ben May, director of global macro research at Oxford Economics. Raphael Bostic, head of the Fed’s Atlanta regional bank, said Friday that he expected the coronavirus to “be a short-time hit; we’ll get the economy back to its usual level” after the adverse effects pass.

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History of this topic

Germany: Europe’s biggest economy is in crisis. Just look at Volkswagen
2 months, 1 week ago

Germany: Europe’s biggest economy is in crisis. Just look at Volkswagen

CNN  

London CNN — Germany narrowly escaped a recession in the third quarter, official data showed Wednesday, offering some relief to Europe’s biggest economy as its fortunes falter. “The biggest worry is currently the big pessimism in Germany,” said Marcel Fratzcher, president of the German Institute for Economic Research in Berlin. “We are not experiencing a crisis in the automotive industry, …

Is COVID making a return to China this winter?
1 year, 1 month ago

Is COVID making a return to China this winter?

Firstpost  

China’s leading respiratory illness expert Zhong Nanshan has warned of a minor COVID-19 surge in the winter and urged the elderly and vulnerable populations to get vaccinated as soon as possible Concerned about an increase of COVID-19 infections in the current winter season, Chinese experts have issued an alert and advised vaccination for vulnerable and old groups. The Chinese Centre …

China's manufacturing activity drops despite lifted COVID restrictions
2 years ago

China's manufacturing activity drops despite lifted COVID restrictions

Firstpost  

For more than two years, China had insisted on a zero-COVID strategy of stamping out outbreaks with strict quarantines, lockdowns and mass testing Beijing, China: China’s manufacturing activity contracted sharply in December for the third month in a row, according to official figures released Saturday, despite Beijing’s loosening of COVID restrictions at the beginning of the month. For more than …

China economy again on bumpy road as Covid infection surge detracts recovery
2 years ago

China economy again on bumpy road as Covid infection surge detracts recovery

India TV News  

With resurge of Covid cases, China economy once again is staring at downfall trend. "If the virus were highly infectious and everyone's life were in danger, the government wouldn't let go.” On Tuesday, the government announced it would relax restrictions on travel out of China and resume issuing passports for tourist travel for the first time in nearly three years. …

DC Edit | China endangering world again
2 years ago

DC Edit | China endangering world again

Deccan Chronicle  

China’s healthcare system is buckling under the strain of its latest and outlandish decision of taking down all Covid controls so rapidly that the country is endangering the world all over again. From late 2019 in Wuhan where the pathogen may have jumped species to spread panic over the coronavirus to the close of 2022, China took several decisions that …

China’s Covid surge hits factories and consumer market
2 years ago

China’s Covid surge hits factories and consumer market

CNN  

Hong Kong CNN — China’s economy is under severe strain as a wave of Covid cases sweeps across the country. “The number of people on the streets has dropped off sharply from already subdued levels across the country,” said analysts from Capital Economics in a research note last week. Last week, home sales by floor area plunged 44% in the …

In our 'profound interest' that China reins in latest surge in coronavirus infections: Antony Blinken
2 years ago

In our 'profound interest' that China reins in latest surge in coronavirus infections: Antony Blinken

The Hindu  

It is in America's "profound interest" that China reins in the recent surge in coronavirus infections, U.S. Secretary of State Antony Blinken has said, asserting that there are major implications if the world's second-largest economy remained shut down due to the virus. When asked about the latest surge in COVID-19 cases in China, Mr. Blinken said the U.S. wants to …

Prepare, don't panic, in the face of covid resurgence in China
2 years ago

Prepare, don't panic, in the face of covid resurgence in China

Live Mint  

As a fresh wave of covid infections sweeps across China, after the authorities abruptly changed tack from their three-year-long Zero Covid strategy, there is widespread concern that the world is heading for Pandemic Redux, making the world pay a heavy toll in terms of lives and lost economic output. A PLI-type scheme for 'atmanirbhar' vaccine industry Cement investors see Q3 …

China rushes to build hospital beds, US says covid situation in China a concern
2 years ago

China rushes to build hospital beds, US says covid situation in China a concern

Live Mint  

China rushed to install hospital beds across cities and build fever screening clinics amid a surge in covid cases in the country. We’ve seen that over the course of many different permutations of this virus and certainly another reason why we are so focused on helping countries around the world address COVID, another reason why bringing this to a close …

China Covid toll concern for world given size of its GDP, economy: US State dep
2 years ago

China Covid toll concern for world given size of its GDP, economy: US State dep

Hindustan Times  

The United States hopes that China can address the current COVID-19 outbreak as the toll of the virus is a global concern due to the size of the Chinese economy, State Department spokesperson Ned Price said on Monday. "The toll of the virus is of concern to the rest of the world given the size of China's GDP, given the …

China anti-virus curbs spur fears of global economic impact
2 years, 1 month ago

China anti-virus curbs spur fears of global economic impact

Associated Press  

BEIJING — More than 253,000 coronavirus cases have been found in China in the past three weeks and the daily average is rising, the government said Tuesday, adding to pressure on officials who are trying to reduce economic damage by easing controls that confine millions of people to their homes. Global stock markets fell Monday as anxiety about China’s controls …

China consumer, factory activity down as virus controls rise
2 years, 1 month ago

China consumer, factory activity down as virus controls rise

Associated Press  

BEIJING — Chinese consumer spending contracted in October and factory activity weakened as anti-virus controls following a rise in infections weighed on the economy. The performance was even weaker than expected by forecasters who said activity would cool as Chinese anti-virus controls and interest rate hikes by the U.S. Federal Reserve and other central banks weighed on global activity. Chinese …

China’s consumer, factory activity improve but still weak
2 years, 3 months ago

China’s consumer, factory activity improve but still weak

Associated Press  

BEIJING — Chinese consumer spending and factory output edged up in August but still were weak, official data showed Friday, and forecasters warned the second-largest economy is vulnerable to repeated shutdowns of cities to fight virus outbreaks. Housing sales plummeted while prices edged lower, adding to a slide in real estate activity under pressure from a government campaign to control …

China’s economy shrinks 2.6% during virus shutdowns
2 years, 5 months ago

China’s economy shrinks 2.6% during virus shutdowns

Associated Press  

BEIJING — China’s economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities shut down to fight coronavirus outbreaks, but the government said a “stable recovery” is under way after businesses reopened. “The national economy registered a stable recovery.” Data on factory output, consumer spending and other activity suggest overall growth …

China’s factory activity rebounds as anti-virus curbs ease
2 years, 6 months ago

China’s factory activity rebounds as anti-virus curbs ease

Associated Press  

BEIJING — China’s factory output rebounded in May, adding to a recovery from the latest COVID-induced economic slump after controls that shut down Shanghai and other industrial centers eased. Industrial production rose 0.7% over a year earlier, recovering from April’s 2.9% contraction, government data showed. China’s case numbers in its latest wave of infections are low, but the ruling Communist …

Rough second quarter, rebound in third
2 years, 6 months ago

Rough second quarter, rebound in third

China Daily  

MA XUEJING/CHINA DAILY Editor's note: While according priority to safeguarding people's lives and health, the Chinese government has always been trying to strike a balance between epidemic control and economic development. The sporadic outbreaks of the Omicron variant of the novel coronavirus since early March have disrupted the normalization of the Chinese economy, as evidenced by the data for the …

Official: China’s economy reviving as anti-virus curbs ease
2 years, 7 months ago

Official: China’s economy reviving as anti-virus curbs ease

Associated Press  

BEIJING — China’s factory and consumer activity fell even more than expected in April under anti-virus controls, official data showed Monday, but a Cabinet official said the economy is reviving as anti-virus curbs ease and its commercial capital of Shanghai reopens. “The pace of recovery in consumption will accelerate as the impact of the epidemic is brought under control.” The …

China steers economy through challenges
2 years, 8 months ago

China steers economy through challenges

China Daily  

Editor's note: The Chinese economy faces severe challenges because the wave of the COVID-19 infections could lower GDP growth. MA XUEJING/CHINA DAILY Some foreign media say China's economic growth target of about 5.5 percent is too high, and its economic prospects are unattainable. The"2022 White Paper on the Business Environment in China" and the "2022 Special Report on the State …

China economy starts the year with a wobble
2 years, 11 months ago

China economy starts the year with a wobble

Live Mint  

BY JONATHAN CHENG | UPDATED JAN 30, 2022 12:54 AM EST Manufacturing and service sector surveys show retreat in January as latest Covid-19 outbreaks hit domestic demand The Chinese economy started the year on an uncertain footing, as Covid-19 flare-ups disrupted factory activity and consumer spending, according to a trio of manufacturing and service sector surveys released Sunday. China’s official …

Germany is on the brink of a winter recession
3 years ago

Germany is on the brink of a winter recession

CNN  

London CNN Business — Germany is teetering on the brink of recession this winter as supply bottlenecks and a wave of new coronavirus cases hobble the economy. “Ongoing supply bottlenecks and the fourth wave of the coronavirus are noticeably slowing down the German economy,” Timo Wollmershäuser, head of forecasts at Ifo, said in a statement. “The strong post-pandemic recovery that …

Global markets: Stocks and oil plunge on new Covid variant fears
3 years, 1 month ago

Global markets: Stocks and oil plunge on new Covid variant fears

CNN  

Hong Kong/London CNN Business — Stocks fell and oil prices plunged more than 10% on Friday as the emergence of a new Covid-19 variant rattled global markets. South Africa’s health minister said Thursday that a new coronavirus variant appears to be spreading rapidly in parts of the country. UK Health Minister Sajid Javid said the variant “may be more transmissible” …

Covid surge threatens Europe’s economic recovery
3 years, 1 month ago

Covid surge threatens Europe’s economic recovery

CNN  

London CNN Business — A resurgence of coronavirus cases across Europe is feeding fears that the region’s strong economic recovery from the pandemic could be jeopardized by another tough winter. “A stronger expansion of business activity in November defied economists’ expectations of a slowdown, but is unlikely to prevent the euro zone from suffering slower growth in the fourth quarter, …

China’s zero-Covid policy risks battering global economy, warns Mark Carney
3 years, 1 month ago

China’s zero-Covid policy risks battering global economy, warns Mark Carney

The Telegraph  

China's zero-Covid strategy is at risk of derailing the global economy and driving up inflation, the former Bank of England Governor Mark Carney has warned amid fears of mass factory closures in the run-up to Christmas. Mr Carney told an LBC podcast that China will have to “evolve or pivot” towards managing the disease through vaccinations, adding: “There are real …

China's economy remains resilient: media
3 years, 2 months ago

China's economy remains resilient: media

China Daily  

China's economy is witnessing a continuous and steady recovery, foreign media said, as China's GDP increased 9.8 percent to 82.31 trillion yuan in the first quarters of 2021, data from the National Bureau of Statistics showed on Monday. "China has essentially maintained its strength in exports ever since its economy emerged from the pandemic in the spring of last year," …

China’s economy is being rattled by the Delta variant and supply chain woes
3 years, 4 months ago

China’s economy is being rattled by the Delta variant and supply chain woes

CNN  

Hong Kong CNN Business — China’s economy stalled this month as the country tried to stamp out a surge in coronavirus cases and contended with the ongoing shipping crisis. China’s economy initially coped with the pandemic much better than many of its peers, recording growth last year as others shrank. “The latest surveys suggest that China’s economy contracted last month …

China growth forecasts slashed as Delta variant spreads across the country
3 years, 4 months ago

China growth forecasts slashed as Delta variant spreads across the country

CNN  

Hong Kong CNN Business — China’s worst coronavirus outbreak in a year has authorities taking dramatic measures to stamp out new infections. “With the virus spreading to many of China’s provinces and local governments reacting swiftly to control the spread of the highly contagious Delta variant, we have begun to see softening in national aggregate data,” the analysts said in …

Uneven COVID-19 vaccine distribution may hamper economic recovery in developing nations: IMF
3 years, 5 months ago

Uneven COVID-19 vaccine distribution may hamper economic recovery in developing nations: IMF

Firstpost  

IMF chief economist Gita Gopinath flagged the “widening gap” as advanced economies grow faster and developing nations, especially in Asia, slow. World GDP will expand by six percent this year, unchanged from the April forecast, but IMF chief economist Gita Gopinath flagged the “widening gap” as advanced economies grow faster and developing nations, especially in Asia, slow. The Washington-based crisis …

China’s economy flashes hints of weakness
3 years, 6 months ago

China’s economy flashes hints of weakness

Live Mint  

Expansion in China’s factory sector slowed in June, as export demand weakened while supply bottlenecks held back production, official data showed Wednesday. Equally worrying, China’s services sector, a persistent laggard in the country’s post-pandemic rebound that Beijing policy makers are eager to see drive more of the economy, softened as recent coronavirus outbreaks again hindered consumer spending. As the first …

Chinese exports jump as pandemic wanes in US, other markets
3 years, 7 months ago

Chinese exports jump as pandemic wanes in US, other markets

India TV News  

China has reported its exports and imports surged in May on growing demand as the pandemic was waning in the US and other key markets, though the pace of growth is leveling off. Customs data released Monday showed exports rose 28% from a year earlier and imports soared 51% — at the fastest annual pace in over a decade. The …

Trade is giving China’s economic recovery a boost
3 years, 8 months ago

Trade is giving China’s economic recovery a boost

CNN  

CNN Business — China’s economic recovery is continuing to gather steam. It’s a sign that demand within China is picking up as the country moves past the worst of the economic damage wrought by the coronavirus pandemic. “The global reopening amid the vaccinations rollouts and improving global outlook should hold the external demand supportive, while the global supply-chain normalization could …

Coronavirus: Europe has missed its chance to stop the third wave. The US could be next
3 years, 9 months ago

Coronavirus: Europe has missed its chance to stop the third wave. The US could be next

CNN  

CNN — Europe has missed its chance to stop the third wave of the coronavirus epidemic before it got out of control. Alessandro Grimaldi, the director of infectious diseases at Salvatore Hospital in the Italian town of L’Aquila, told CNN the new more contagious variant had “changed the game,” adding that “inevitably, the measures taken to prevent the infection have …

IMF: New coronavirus variants pose major risk to the global economy
3 years, 11 months ago

IMF: New coronavirus variants pose major risk to the global economy

CNN  

London CNN Business — The pandemic could slam the brakes on a global economic turnaround this year despite mass vaccination programs and unprecedented levels of stimulus, according to the International Monetary Fund. The IMF expects the global economy to grow by 5.5% this year, it said on Tuesday, or 0.3 percentage points faster than its previous forecast in October. “The …

Coronavirus casts a shadow over Chinese New Year for another year as cases rise
3 years, 11 months ago

Coronavirus casts a shadow over Chinese New Year for another year as cases rise

ABC  

Tanya Tong has two weeks to weigh up whether to see her parents for the Chinese New Year, as a small but persistent resurgence of the virus creates déjà vu one year on from the COVID-19 outbreak, scuttling celebrations across the country. Key points: China is currently recording about 200 COVID-19 cases a day China is currently recording about 200 …

Tech leads stocks lower in early trading on Wall Street
3 years, 11 months ago

Tech leads stocks lower in early trading on Wall Street

Associated Press  

NEW YORK — Tech companies are leading stocks lower in the early going on Wall Street, including a steep drop in IBM after the company reported disappointing revenue in the latest quarter. European stocks fell following a weak reading on that region’s economy, and Asian markets fell after a resurgence of coronavirus infections in China. BEIJING — Global stock markets …

Asian stocks sink after China coronavirus resurgence
3 years, 11 months ago

Asian stocks sink after China coronavirus resurgence

Associated Press  

BEIJING — Asian stock markets retreated Friday after a resurgence of coronavirus infections in China and a rise in cases in Southeast Asia. The government is testing millions of people in Beijing and some other cities and called on the public to avoid traveling during February’s Lunar New Year holiday. “The resurgence of cases in China, namely in the largest …

China was the only major economy to grow in 2020
3 years, 11 months ago

China was the only major economy to grow in 2020

Daily Mail  

China's economy grew by 2.3 per cent in 2020, official figures revealed today, making the the country where the pandemic began the only major economy to grow at all last year while the rest of the world was ravaged by Covid-19. China's 2.3 per cent expansion was better than experts had predicted, while every other OECD country is expected to …

Global Stock Markets Slide at End of Record November, Likely to Recover Amid Prospect of Covid-19 Vaccine
4 years, 1 month ago

Global Stock Markets Slide at End of Record November, Likely to Recover Amid Prospect of Covid-19 Vaccine

News 18  

World stock markets dipped on Monday to close a record-breaking month as the prospect of a vaccine-driven economic recovery next year and further central bank stimulus measures eclipsed immediate concerns about the spiking coronavirus pandemic. “It has been a very, very strong month for markets, especially on the equity side but also on the fixed income side too,” said Elwin …

Dollar’s slump propels global peers toward multi-year peaks
4 years, 1 month ago

Dollar’s slump propels global peers toward multi-year peaks

Live Mint  

The dollar’s protracted decline is spurring Group-of-10 peers toward multi-year highs. China’s economic rebound and bets on a successful roll-out of vaccines are bringing key levels into play for currencies from the euro to the Aussie and the Canadian dollar. “The improving outlook for global growth, combined with strong signals from the Fed that it will maintain loose monetary policy …

Global trade showing fragile recovery, closing the gap with pre-covid level
4 years, 2 months ago

Global trade showing fragile recovery, closing the gap with pre-covid level

Live Mint  

Global trade is staging what the United Nations termed a “fragile recovery,” as economies battered by the pandemic claw their way back to full activity. UN trade body UNCTAD’s assessment for the latter half of 2020 was shared by the chief executive officer of Swiss freight forwarder Kuehne + Nagel International AG, which recorded sea freight volumes in September that …

Global stocks and US futures slide on Covid-19 fears
4 years, 2 months ago

Global stocks and US futures slide on Covid-19 fears

CNN  

London CNN Business — Global stock markets and US futures retreated on Thursday as a second wave of coronavirus cases triggered more restrictions in Europe and negotiations in Washington over financial help for struggling workers and businesses remained deadlocked. Treasury Secretary Steven Mnuchin spoke with House Speaker Nancy Pelosi for roughly an hour on Wednesday, but he said significant issues …

Analysis: The US and Europe face rising Covid-19 case numbers as they squander lessons from Asia-Pacific
4 years, 2 months ago

Analysis: The US and Europe face rising Covid-19 case numbers as they squander lessons from Asia-Pacific

CNN  

London CNN — While the Asia-Pacific region treads water until a coronavirus vaccine is found, the West’s biggest economies are drowning as a second wave firmly establishes itself in Europe. Swedish authorities have actively discouraged the use of masks, despite the high number of Covid-19 deaths in care homes, As well as resorting to lazy cultural tropes, such as Trump’s …

Stocks week ahead: The economic recovery hangs in the balance as winter approaches
4 years, 3 months ago

Stocks week ahead: The economic recovery hangs in the balance as winter approaches

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. The UK government isn’t ruling out another national lockdown, though the health secretary has said it would be “the last line of defense.” Such measures would be the worst-case scenario for economies experiencing a historic expansion following a record contraction. Just take it from Federal Reserve …

China’s economy shrugs off the Covid-19 global slump as shoppers join the recovery
4 years, 3 months ago

China’s economy shrugs off the Covid-19 global slump as shoppers join the recovery

CNN  

Hong Kong CNN Business — The coronavirus pandemic has pushed the world’s economies into historic slumps. China was the only country for which the International Monetary Fund projected growth this year in its June forecast — it’s expected to eke out a 1% increase. Cautious recovery China’s economy has been bouncing back since its $14 trillion economy shrank 6.8% in …

China is claiming victory over coronavirus, but the true costs of the pandemic are yet to come
4 years, 4 months ago

China is claiming victory over coronavirus, but the true costs of the pandemic are yet to come

The Independent  

China has declared victory over the war against Covid-19, and another example of the superiority of the Chinese communist authorities over the governments of the west. To many people it will seem a bit of a cheek that China should allow a virus to spread wildly, denying what was happening, infect the rest of the entire world, then declare victory. …

World economy: What else could go wrong before 2020 is done
4 years, 4 months ago

World economy: What else could go wrong before 2020 is done

Live Mint  

The world economy’s rebound from the depths of the coronavirus crisis is fading, setting up an uncertain finish to the year. Adding 1.4 million jobs in August was “a big step in the right direction,” said Ryan Sweet, head of monetary policy research at Moody’s Analytics. But the economy needs to maintain that kind of pace, he said, and “without …

The tragedy of more missed COVID-19 opportunities
4 years, 4 months ago

The tragedy of more missed COVID-19 opportunities

China Daily  

A nurse wearing personal protective equipment watches an ambulance driving away outside of Elmhurst Hospital during the ongoing outbreak of the coronavirus disease in the Queens borough of New York, US, April 20, 2020. My new report, "The Tragedy of More Missed Opportunities", released by the Shanghai Institutes for International Studies, focuses on the new missed COVID-19 opportunities and the …

US coronavirus cases hit 5 million, Europe is amazed
4 years, 5 months ago

US coronavirus cases hit 5 million, Europe is amazed

India Today  

With confirmed coronavirus cases in the US hitting 5 million on Sunday, by far the highest of any country, the failure of the most powerful nation in the world to contain the scourge has been met with astonishment and alarm in Europe. Perhaps nowhere outside the US is America's bungled virus response viewed with more consternation than in Italy, which …

Summertime sadness: Resurgent coronavirus dims economic recovery hopes
4 years, 5 months ago

Summertime sadness: Resurgent coronavirus dims economic recovery hopes

Live Mint  

The virus is the summer house guest from hell. If you add that all up together it’s not a pretty picture.” At the same time, as governments face new flare-ups and reimpose full or partial lockdowns, the prospects for a brisk global economic rebound later in the year have dimmed, according to economists and executives. While the virus-stricken world is …

Oil falls 2% on U.S.-China tensions, rising virus cases
4 years, 5 months ago

Oil falls 2% on U.S.-China tensions, rising virus cases

Live Mint  

Oil prices dropped nearly 2% on Monday despite a weaker U.S. dollar, as rising coronavirus cases and tensions between the United States and China clouded the outlook for oil demand's recovery. "In lack of larger fundamental news, oil prices are following the overall macro trends, behaving as a 'risky asset' and being traded lower when safe-haven assets strengthen," said Bjornar …

China's economy in good shape despite COVID-19
4 years, 5 months ago

China's economy in good shape despite COVID-19

China Daily  

Passengers take photos of the Shanghai-Suzhou-Nantong Yangtze River Bridge on a train from Shanghai to Nantong as both the bridge and the Shanghai-Suzhou-Nantong Railway opened on July 1. China's economy is running in relatively good shape despite the impact from the COVID-19 outbreak, reporting better-than-expected second quarter growth, the country's top economic regulator said on Friday. Yan Pengcheng, director of …

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