China’s economy grows 4.9% while the rest of the world is crippled by coronavirus
Just like they planned.
BTW…have you heard one Democrat call China out instead of blaming Trump?
China’s economy has grown 4.9 percent in the third quarter from last year proving the country is back to its pre-pandemic trajectory with consumer spending and industrial production going back to normal levels.
China fell short in the third quarter of its forecast for growth between 5.5 percent and 6 percent predicted at the start of the year before COVID-19 ravaged the globe, killing more than a million people and crippling the global economy.
China has bounced back quickly despite being the first country to suffer the coronavirus outbreak. As the virus spread across the globe, China started to handle their outbreak and began to reopen their economy, growing 6.8 percent in the first quarter of this year, and 3.2 percent in the April-June quarter.
Now the International Monetary Fund is projecting China’s economy to expand by 1.9 percent in 2020 which means it’ll the only major world economy to grow this year.
China’s economy has grown 4.9 percent in the last quarter from last year proving the country is back to its pre-pandemic trajectory with consumer spending and industrial production going back to normal levels. Employees work in a production line at a wigs factory in Hezhang County, Guizhou Province of China on October 16
Workers are seen during the production process of wind turbines during a government organised tour at Goldwind Technology in Yancheng, in Jiangsu province on October 14
By contrast the US economy is expected to shrink by 4.3 percent this year and Eurozone by 8.3 percent, the IMF announced in its latest update shared this month.
Not only is China’s gross domestic product growing, unemployment fell to 5.4 percent in September and industrial production rose 5.8 percent in July through September over the same quarter last year.
Retail sales rose 0.9 percent over a year earlier. On Monday China said retail sales grew 3.3 percent in September, surpassing economist expectations for 1.7 percent.
Chinese citizens' disposable income also increased in the third quarter for the first time this year, rising 0.6 percent from a year earlier, according to the Wall Street Journal.
The recovery of Asia’s largest economy is good news for other countries that rely heavily on trade with China, including Japan. It reported Monday that its exports fell at a slower pace in September from a year earlier, partly thanks to higher demand from China.
The Nikkei 225 index added 1.1 percent to 23,672.60 while Hong Kong’s Hang Seng climbed 0.8 percent to 24,591.92. In South Korea, the Kospi jumped 0.9 percent to 2,362.49 while the S&P/ASX 200 in Australia surged 1 percent to 6,237.60.
The Shanghai Composite index logged a more modest gain, picking up 0.3 percent to 3,346.61 as the relatively strong economic data doused the chances for major stimulus measures that might help boost markets.
Not only is China’s gross domestic product growing, unemployment fell to 5.4 percent in September, industrial production rose 5.8 percent in July through September over the same quarter last year, and retail sales rose 0.9% over a year earlier
Meanwhile, hopes for new stimulus for the U.S. economy were muted, with House Speaker Nancy Pelosi saying time is running out to get measures passed before the Nov. 3 election.
Wall Street closed out a choppy week of trading with more of the same Friday, as a late-afternoon stumble led U.S. stock indexes to a mixed finish.
The S&P 500 rose 0.47 points to 3,483.81. The Dow gained 112.11 points, or 0.4%, to 28,606.31. At one point, it had been up by 348 points. The Nasdaq fell 42.32 points, or 0.4%, to 11,671.56. The Russell 2000 index of small-cap stocks dropped 5.08 points, or 0.3%, to 1,633.81.
The S&P 500 ended the day just a fraction of a point higher at 3,483.81. The Dow Jones Industrial Average gained 0.4%, to 28,606.31. The Nasdaq fell 0.4% to 11,671.56, while the Russell 2000 index of small-cap stocks dropped 0.3% to 1,633.81.
By contrast the US economy is expected to shrink by 4.3 percent this year and Eurozone by 8.3 percent, the IMF announced in its latest update shared this month. A man stands outside a temporarily shut down Coneworld in London above
The US is reeling from a surge in unemployment and food insecurity sparked by the pandemic. People wait in line to receive food at a distribution site at a Bronx church in New York City on Friday
Big Tech and energy companies fell while health care and industrial stocks rose.
The mixed performance matched the mixed data: the U.S. government reported that retail sales rose in September for the fifth straight month, while the Federal Reserve said U.S. industrial production had its weakest showing since the spring.
Stock indexes have recouped most of their losses from a swoon as talks between Democrats and Republicans on an economic stimulus package failed to deliver results. Investors have been hoping that Washington would provide more financial support for the economy since July, when a $600-a-week extra benefit for the unemployed expired.
On Thursday, the government’s said the number of Americans seeking unemployment aid increased last week to 898,000, a historically high level reflecting the weakness due to the pandemic and ensuing recession.
Rising coronavirus caseloads across the globe have left investors cautious as governments impose restrictions to contain outbreaks.
The 10-year Treasury yield rose to 0.76% from 0.74%.
U.S. benchmark crude oil lost 17 cents to $40.95 per barrel in electronic trading on the New York Mercantile Exchange. It gave up 12 cents on Friday to $41.12 per barrel. Brent crude, the international standard, lost 16 cents to $42.77.
In currency dealings, the dollar rose to 105.43 Japanese yen from 105.40 on Friday. The euro slipped to $1.1706 from $1.1717.
This coming from Joe who has got nothing but the kid-glove treatment from the media.
Finally someone in the media asked him about his crackhead...I mean son.
Wearing two face masks. One to reduce the risk posed by the coronavirus, the other to stop him from talking about Hunter.
I asked Joe Biden: What is your response to the NYPost story about your son, sir?
He called it a “smear campaign” and then went after me. “I know you’d ask it. I have no response, it’s another smear campaign, right up your alley, those are the questions you always ask.” pic.twitter.com/Eo6VD4TqxD
Four of the last 10 governors and 35 Chicago aldermen have served prison sentences.
BTW... Chicago hasn't had a Republican mayor since 1931!
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Cynthia Donald is a Chicago cop and was the former police superintendent's personal driver on the job
Disgraced former Chicago top cop Eddie Johnson has been accused of sexual assault and harassment in a new bombshell lawsuit, according to reports.
The plaintiff is Cynthia Donald who was Johnson’s personal driver when he was on the job.
Donald has been a Chicago cop for 14 years and says in the lawsuit Johnson forced her to engage in sex acts to keep her job.
“After the first time he sexually assaulted me in his office at CPD headquarters he told me that I belonged to him,” Donald told a news conference Thursday, according to Fox 32 Chicago.
Former Chicago Police Superintendent Eddie Johnson. (Scott Olson/Getty Images)
She also alleges Johson texted her nude photos of himself.
Chicago Mayor Lori Lightfoot fired Johnson last year after officers found him passed out behind the wheel of his department SUV. She accused him of lying about the incident.
The lawsuit alleges that earlier that night Johnson contacted Donald and demanded that she meet him for drinks, the station reported.
The lawsuit says that after the incident Lightfoot sought to deflect blame by telling Johnson to demote Donald, CBS 2 Chicago reported.
“Mayor Lightfoot emphatically denies, and common sense dictates, that Eddie Johnson ever told the Mayor about allegations of abuse or harassment of Cynthia Donald by Eddie Johnson. Ms. Donald’s lawyers never claimed otherwise,” the city’s Law Department said in response.
Johnson denied the lawsuit’s allegations in a statement to the station.
“Her claims are not only patently false, they are egregiously dehumanizing towards those who have truly suffered in the workplace,” he said. “I pray for Ms. Donald’s well-being and look foreword to the opportunity where the facts can be presented."
Officer sues former Chicago top cop Eddie Johnson for sexual assault
