WASHINGTON (dpa-AFX) - Activity in the New York manufacturing sector unexpectedly grew at a slower pace in the month of January, the Federal Reserve Bank of New York revealed in a report released
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2020’s Big Winners: Billionaires, Silicon Valley Tech Lords, and Communist China
31 Dec 2020
The coronavirus pandemic took nearly two million lives worldwide and caused unprecedented economic devastation this year, but 2020 had at least three big winners who came out stronger in spite of – or perhaps because of – the pandemic: the world’s billionaires, Silicon Valley’s tech lords, and communist China, where the virus originated.
COMMUNIST CHINA
China’s communist regime is sounding increasingly triumphalist in the wake of the economic destruction wreaked by the pandemic that originated in Wuhan and could have been prevented by Beijing. China’s communist dictator Xi Jinping boasted in his New Year’s Eve address that China is “the first major economy worldwide to achieve positive growth” in 2020, while the rest of the world’s economy shrank.
Congressional leaders appeared late Wednesday to be on the brink of a COVID-19 economic aid package that would extend help to individuals and businesses and ship coronavirus vaccines to millions.
Negotiators were working on a $900 billion package that would revive subsidies for businesses hit hard by the pandemic, help distribute new vaccines, fund schools and renew soon-to-expire jobless benefits. They’re also looking to include new direct payments of about $600 to most Americans.
Before trading begins, investors will digest the latest jobless claims. They’re expected to decline by 53,000 to 800,000. Continuing claims, which track the total number of unemployed workers collecting benefits, are anticipated to fall to 5.598 million after an unexpected increase last week.