TOPLINE As the world struggled to contain the coronavirus crisis, foreign direct investment in the United States plummeted 49% in 2020 while investment in China rose 4%, making China the largest recipient of foreign inflows for the first time, according to a report released Sunday by the United Nations Conference on Trade and Development.
FDI in India rose 13% in 2020, while FDI in the European Union fell by two-thirds.
The U.N. expects foreign investment overall to remain weak in 2021.
BIG NUMBER
42%. That’s how much foreign direct investment fell across the globe in 2020, from $1.5 trillion in 2019 to $859 billion in 2020. Most of that decline occurred in developed countries, the U.N. said.
Parliament Correspondent,
bdnews24.com
Published: 20 Jan 2021 01:57 PM BdST
Updated: 20 Jan 2021 01:57 PM BdST
Bangladesh has been largely successful in averting an economic crisis that arced around the world due to the coronavirus pandemic, according to Prime Minister Sheikh Hasina. );
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“It was possible to retain economic stability during the pandemic through the government s special steps to counter the crisis,” Hasina said in parliament on Wednesday.
Her comments came as responses to questions from the Jatiya Party’s Rowshan Ara Mannan and Awami League’s Kazim Uddin.
According to a report from the UK-based Centre for Economics and Business Research, Bangladesh is on course to becoming the 25th largest economy in the world by 2035, thanks to the current pace of economic development.
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The Canary Wharf development project, heavily backed by Chinese investors, is currently on hold, a victim of geopolitical uncertainties.
BEIJING (China Daily/ANN): On Christmas Eve, in a nail-biting finale, the United Kingdom announced that it had negotiated a post-Brexit trade deal with the European Union, which met most of its requirements.
Taking effect on Jan 1, upon the expiry of the UK’s 11-month transition period out of the EU’s institutional framework, it is worth 660 billion pounds a year, the biggest trade deal ever signed by either party.
It gives the UK what the Prime Minister, Boris Johnson, had sought, namely, a “Canada plus plus” arrangement, which incorporates the main features of the EU-Canada trade deal of 2016, but without any of the quotas or tariffs imposed on some Canadian goods.