Bloomberg (July 10)
“China, its troublesome credit system and its shaky relationship with the West dominated global markets for years. Then it gave the world the coronavirus. And now, somehow it has slipped from attention, dropping down investors’ lists of concerns.” But this Asian giant, “appears to have pulled off a remarkable turnaround and may be set to drive another economic cycle.”
Tags: Economic cycle
Boston Globe (July 9)
“For the first time since 1944, Harvard and Yale will not meet on the gridiron, ending a string of 136 consecutive editions of the storied rivalry game.” In what could be precedent setting, the Ivy League determined “that its schools will not be participating in the fall sports season as the country continues to navigate the COVID-19 pandemic.”
Tags: COVID-19, Fall sports, Gridiron, Harvard, Ivy League, Precedent, Rivalry, Storied, Yale
USA Today (July 9)
The U.S. passed another “grim milestone” on Wednesday, racking up 3 million COVID-19 cases, which “represents roughly a quarter of the world’s cases and the same percentage of its deaths.” The U.S. now strongly “leads an unenviable group. Its 3 million cases for a nation of 330 million beats out Brazil’s 1.7 million cases (210 million population), India’s 742,000 cases (1.4 billion) and Russia’s 699,000 cases (145 million).”
Wall Street Journal (July 9)
“Slack Chinese imports are a symptom of the underlying reason China’s trade surpluses, not just with the U.S. but the world, persist: China consumes too little and saves too much.” Though China’s surpluses have shrunk as a share of GDP, due a decade of explosive GDP growth, the surpluses “remain enormous.” Domestic “consumption is still under 40% of Chinese GDP, one of the lowest ratios among major economies. The persistence of those imbalances is why trade conflicts aren’t about to go away even if Mr. Trump isn’t re-elected.”
Tags: China, Conflicts, Consumption, GDP, Growth, Imbalances, Imports, Saves, Slack, Trade surpluses, Trump, U.S.
Forbes (July 7)
In the U.S., evictions could be the “next shoe to drop” as the pandemic continues to play havoc with the economy. “There are a confluence of factors that could result in wide-scale evictions this month” as enhanced unemployment benefits and eviction moratoriums are set to expire. The evictions could possibly extend to “millions of Americans.”
Tags: Confluence, Economy, Evictions, Havoc, Moratoriums, Pandemic, U.S., Unemployment benefits
Washington Post (July 7)
“As the nation faces a pandemic, financial catastrophe and massive social justice protests, it is suddenly also confronting a spike in violence in some of its major cities. Tragedies struck in urban centers thousands of miles apart, with 65 people shot over the weekend in New York and 87 in Chicago, and homicides climbing from Miami to Milwaukee.” Shootings often rise in summer, but “the recent toll has been particularly devastating.”
Tags: Chicago, Cities, Confronting, Financial catastrophe, Homicides, Miami, Milwaukee, New York, Pandemic, Protests, Shootings, Social justice, Tragedies, Violence
New York Times (July 7)
Germany has fallen “back in love with Angela Merkel.” She has recovered from “crushing defeats in regional elections” in 2018. Successfully containing “the pandemic has burnished the chancellor’s reputation as one of the country’s best leaders.”
Tags: Burnished, Containing, Crushing, Defeats, Elections, Germany, Love, Merkel, Pandemic, Recovered, Successful
Miami Herald (July 5)
“It took three months, from early March to June 22, for Florida to cross 100,000 new confirmed COVID-19 cases. It took less than two weeks for the state to go from 100,000 to 200,000 cases — and the positive test rate keeps rising.” On Sunday, Florida’s pandemic cases rose to 200,111 and 3,832 deaths. Florida has become the daily new case leader, but lags New York in overall cases.
Tags: Cases, Confirmed, COVID-19, Deaths, Florida, June, March, Pandemic, Positive test rate, Rising
The Economist (July 4)
“After many false starts, hydrogen power might now bear fruit.” However, it is more likely to “fill in the gaps, rather than dominating the economy.”
Tags: Bear fruit, Dominating, Economy, False starts, Gaps, Hydrogen, Power
Bloomberg (July 3)
“Much more than survive the pandemic lockdown, the largest American companies are seeing their advantage widen drastically as a result of it, with investors flocking to anything with size and stability.”
