A little its the longest iterates. A leading professor tells m. P. s the u. K. Government was too slow to react to the global pandemic. Raising to meet demand kenya steps up mass production so the government introduces tough rules to curb the spread of coronavirus. Now alarming new numbers showing the strain of the coronavirus pandemic on the worlds 2 biggest economies theres increasing doubt about the u. S. President s 2 week deadline for getting businesses back up and running in that he states 22000000 americans have made jobless claims just over the past month numbers not seen since the Great Depression of the 1930 s. And chinas Gross Domestic Product has plummeted by almost 7 percent in the 1st quarter that the shop just for since it opened up to the wild 40 years ago and theres been a big rise in the death toll in the original epicenter of the outbreak. 50 percent more people died there than was previously reported the total number of fatalities in the city is now said to be 3869.
So weve seen a year on year 6. 8 percent drop in chinas g. D. P. Which is really significant and quite in line with peoples expectations analysts expectations because the current virus control measures that the government put in place for a few weeks in february and march really saw the economy come to a standstill factories were closed businesses were closed hundreds of millions of people were stuck in doors and just to unpack that figure a bit more also manufacturing vestment in the 1st quarter was down 25 percent year on year Infrastructure Investment also down 20 percent retail sales down 19 percent so really at the more when the government is doing all it can to get the economy restarted the National Bureau of statistics has said that the economy faces new difficulties and new challenges but the long term growth of the economy shouldnt be affected well at the moment there are questions as to whether that can be possible because this is really taking chinas economy is really taking
Government told it was too slow to react to the Global Pandemic as the death toll rises by more than 800. 00. And we join paramedics risking their lives on the front line of latin americas biggest corona Virus Outbreak. The coronavirus pandemic has brought decades of Economic Growth in china to a halt its crossed a mystic product shrank for the 1st time since records began the news comes as the government revised the death toll in the city of war han with a pandemic is believed to have begun officials now say 50 percent more people died there than previously reported katrina you has this report from beijing. The coronavirus pandemic has Strained Health systems around the world and now its caused the growth of the. Largest economy to falter for the 1st time in decades for the 1st quarter of 2020 chinas g. D. P. Contracted by 6. 8 percent that. The current external situation complex domestic demand remains comparatively Weak Companies still face difficulties such years insufficient deman
Daniel booth author of fed up and inside his take on why the Federal Reserve is bad for america and former Federal Reserve insider so danielle starting off this is the 2nd time that the fed has made a move that the market has now interpreted as being panicked so instead of boosting confidence it actually spooked the market causing this massive selloff right off the open so was the feds response here appropriate could have they have done anything else differently here. Well i think what we have to really focus on is that the fed didnt have very much of a choice the asian markets had priced in a much messier day than weve had today bearing in mind that today was the worst selloff since 1987 but again markets had already priced in the fed coming in and making an emergency move i think at the fed ben silent that we might have even seen more disruption in Financial Markets than what we did see today so they sadly theyve backed themselves into a corner and they had to deploy all of the weapo
Intervention such as Circuit Breakers and bailouts now on the other far end of the spectrum of market intervention many are calling for the markets to shut down temporarily to prevent further selling and quote own the shorts the Philippine Stock Exchange has become the 1st to implement this and announce that its suspending trading until further notice after the market wiped out just over a 3rd of market value since the november highs. Is back below 30. 00 after opec canceled their technical meeting this week that was meant to mediate between saudi arabia and russia sources said that it will be hard for both sides to reach a compromise now and then i guess market warns that extreme oil surplus is possible Monetary Policy is now being discounted as cheap or money does little to restore confidence in the average consumer in the face of a deadly pandemic 0 percent Interest Rates wont make up for much of the massive loss of activity and income for companies and consumers. And were now joine