Archive for ‘Wednesday’

18/04/2020

China supports G20 action plan to help poorest countries: MOF

BEIJING, April 17 (Xinhua) — China supports the action plan issued by the Group of 20 (G20) to deal with the impact of COVID-19 and will contribute to the G20 efforts to fight the pandemic through its own policy actions, the Ministry of Finance (MOF) said Friday.

G20 finance ministers and central bank governors agreed Wednesday to suspend debt service payments for the world’s poorest countries from May 1 until the end of the year.

China will implement more proactive fiscal policies with higher quality and efficiency, appropriately increase the fiscal deficit ratio, issue special government bonds, increase the scale of special bonds for local governments, and further cut taxes and fees, the MOF said.

In the process, China will strengthen macroeconomic policy coordination with G20 members and jointly support the implementation of the G20 action plan, the MOF said.

China will carry out specific work through bilateral consultations at the request of relevant poor borrowers in accordance with the G20 consensus, the MOF said.

To achieve better results of the action plan, China calls on multilateral creditors and commercial creditors to take appropriate actions as soon as possible to jointly help the poorest countries tide over their difficulties, the MOF said.

China has been providing support to the international community through other bilateral and multilateral channels, including donating 20 million U.S. dollars to the World Health Organization and earmarking 10 million U.S. dollars in its Poverty Reduction and Regional Cooperation Fund under the Asian Development Bank to support outbreak control programs in the region.

Source: Xinhua

18/04/2020

Coronavirus: China outbreak city Wuhan raises death toll by 50%

Medical staff from Jilin Province (in red) hug nurses from Wuhan after the Covid-19 lockdown was lifted, 8 April 2020Image copyright GETTY IMAGES
Image caption The Chinese city of Wuhan recently lifted its strict quarantine measures

The Chinese city of Wuhan, where the coronavirus originated last year, has raised its official Covid-19 death toll by 50%, adding 1,290 fatalities.

Wuhan officials attributed the new figure to updated reporting and deaths outside hospitals. China has insisted there was no cover-up.

It has been accused of downplaying the severity of its virus outbreak.

Wuhan’s 11 million residents spent months in strict lockdown conditions, which have only recently been eased.

The latest official figures bring the death toll in the city in China’s central Hubei province to 3,869, increasing the national total to more than 4,600.

China has confirmed nearly 84,000 coronavirus infections, the seventh-highest globally, according to Johns Hopkins University data.

The virus has had a huge impact on the Chinese economy, which shrank for the first time in decades in the first quarter of the year.

What’s China’s explanation for the rise in deaths?

In a statement released on Friday, officials in Wuhan said the revised figures were the result of new data received from multiple sources, including records kept by funeral homes and prisons.

Deaths linked to the virus outside hospitals, such as people who died at home, had not previously been recorded.

Media caption Learn how Wuhan dealt with the lockdown

The “statistical verification” followed efforts by authorities to “ensure that information on the city’s Covid-19 epidemic is open, transparent and the data [is] accurate”, the statement said.

It added that health systems were initially overwhelmed and cases were “mistakenly reported” – in some instances counted more than once and in others missed entirely.

A shortage of testing capacity in the early stages meant that many infected patients were not accounted for, it said.

A spokesman for China’s National Health Commission, Mi Feng, said the new death count came from a “comprehensive review” of epidemic data.

In its daily news conference, the foreign ministry said accusations of a cover-up, which have been made most stridently on the world stage by US President Donald Trump, were unsubstantiated. “We’ll never allow any concealment,” a spokesman said.

Why are there concerns over China’s figures?

Friday’s revised figures come amid growing international concern that deaths in China have been under-reported. Questions have also been raised about Beijing’s handling of the epidemic, particularly in its early stages.

In December 2019, Chinese authorities launched an investigation into a mysterious viral pneumonia after cases began circulating in Wuhan.

Banner image reading 'more about coronavirus'
Banner

China reported the cases to the World Health Organization (WHO), the UN’s global health agency, on 31 December.

But WHO experts were only allowed to visit China and investigate the outbreak on 10 February, by which time the country had more than 40,000 cases.

The mayor of Wuhan has previously admitted there was a lack of action between the start of January – when about 100 cases had been confirmed – and 23 January, when city-wide restrictions were enacted.

Around that time, a doctor who tried to warn his colleagues about an outbreak of a Sars-like virus was silenced by the authorities. Dr Li Wenliang later died from Covid-19.


Analysis box by Stephen McDonell, China correspondent

Wuhan’s death toll increase of almost exactly 50% has left some analysts wondering if this is all a bit too neat.

For months questions have been asked about the veracity of China’s official coronavirus statistics.

The inference has been that some Chinese officials may have deliberately under-reported deaths and infections to give the impression that cities and towns were successfully managing the emergency.

If that was the case, Chinese officials were not to know just how bad this crisis would get in other countries, making its own figures now seem implausibly small.

The authorities in Wuhan, where the first cluster of this disease was reported, said there had been no deliberate misrepresentation of data, rather that a stabilisation in the emergency had allowed them time to revisit the reported cases and to add any previously missed.

That the new death toll was released at the same time as a press conference announcing a total collapse in China’s economic growth figures has led some to wonder whether this was a deliberate attempt to bury one or other of these stories.

Then again, it could also be a complete coincidence.


China has been pushing back against US suggestions that the coronavirus came from a laboratory studying infectious diseases in Wuhan, the BBC’s Barbara Plett Usher in Washington DC reports.

US President Donald Trump and some of his officials have been flirting with the outlier theory in the midst of a propaganda war with China over the origin and handling of the pandemic, our correspondent says.

Mr Trump this week halted funding for the World Health Organization (WHO), accusing it of making deadly mistakes and overly trusting China.

“Do you really believe those numbers in this vast country called China, and that they have a certain number of cases and a certain number of deaths; does anybody really believe that?” Mr Trump said at the White House on Wednesday.

French President Emmanuel Macron has also questioned China’s handling of the coronavirus outbreak, saying it was “naive” to suggest the country had dealt better with the crisis, adding things “happened that we don’t know about”.

On Thursday, UK Foreign Secretary Dominic Raab said: “We’ll have to ask the hard questions about how [coronavirus] came about and how it couldn’t have been stopped earlier.”

But China has also been praised for its handling of the crisis and the unprecedented restrictions that it instituted to slow the spread of the virus.

WHO Director General Dr Tedros Adhanom Ghebreyesus has hailed China for the “speed with which [it] detected the outbreak” and its “commitment to transparency”.

Source: The BBC

16/04/2020

Trump says U.S. investigating whether virus came from Wuhan lab

WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday his government is trying to determine whether the coronavirus emanated from a lab in Wuhan, China, and Secretary of State Mike Pompeo said Beijing “needs to come clean” on what they know.

The source of the virus remains a mystery. General Mark Milley, chairman of the Joint Chiefs of Staff, said on Tuesday that U.S. intelligence indicates that the coronavirus likely occurred naturally, as opposed to being created in a laboratory in China, but there is no certainty either way.

Fox News reported on Wednesday that the virus originated in a Wuhan laboratory not as a bioweapon, but as part of China’s effort to demonstrate that its efforts to identify and combat viruses are equal to or greater than the capabilities of the United States.

This report and others have suggested the Wuhan lab where virology experiments take place and lax safety standards there led to someone getting infected and appearing at a nearby “wet” market, where the virus began to spread.

At a White House news conference Trump was asked about the reports of the virus escaping from the Wuhan lab, and he said he was aware of them.

“We are doing a very thorough examination of this horrible situation that happened,” he said.

Asked if he had raised the subject in his conversations with Chinese President Xi Jinping, Trump said: “I don’t want to discuss what I talked to him about the laboratory, I just don’t want to discuss, it’s inappropriate right now.”

Trump has sought to stress strong U.S. ties with China during the pandemic as the United States has relied on China for personal protection equipment desperately needed by American medical workers.

As far back as February, the Chinese state-backed Wuhan Institute of Virology dismissed rumors that the virus may have been artificially synthesized at one of its laboratories or perhaps escaped from such a facility.

Pompeo, in a Fox News Channel interview after Trump’s news conference, said “we know this virus originated in Wuhan, China,” and that the Institute of Virology is only a handful of miles away from the wet market.

“We really need the Chinese government to open up” and help explain “exactly how this virus spread,” said Pompeo.

“The Chinese government needs to come clean,” he said.

The broad scientific consensus holds that SARS-CoV-2, the virus’ official name, originated in bats.

Trump and other officials have expressed deep skepticism of China’s officially declared death toll from the virus of around 3,000 people, when the United States has a death toll of more than 20,000 and rising.

He returned to the subject on Wednesday, saying the United States has more cases “because we do more reporting.”

“Do you really believe those numbers in this vast country called China, and that they have a certain number of cases and a certain number of deaths; does anybody really believe that?” he said.

Source: Reuters

15/04/2020

Taiwan wades into hotly contested Pacific with its own coronavirus diplomacy

TAIPEI (Reuters) – Taiwan waded into the hotly contested politics of the Pacific on Wednesday, donating face masks and thermal cameras to its four diplomatic allies there to combat the coronavirus in a region where China is challenging traditional power of the United States.

The small developing nations lie in the highly strategic waters of the Pacific, dominated since World War Two by the United States and its friends, who have been concerned over China’s moves to expand its footprint there.

Democratic Taiwan has faced intense pressure from China, which claims the island as its territory with no right to state-to-state ties, and is bent on wooing away its few allies.

Taiwan has only 15 formal allies left worldwide after losing two Pacific nations, the Solomon Islands and Kiribati, to China in September.

Beijing has ramped up its diplomatic push into the Pacific, pledging virus aid and medical advice.

In its own aid programme, Taiwan has donated 16 million masks to countries around the world.

“We are a very small country, so it’s easier for us to work with Taiwan than mainland China,” Neijon Edwards, the Marshall Islands ambassador to Taiwan, told Reuters at the donation ceremony in Taipei.

China has been too overbearing, she added.

“It’s pressing too much, and it’s been trying to come to the Marshall Islands, several times, but up to this time we haven’t even opened the door yet.”

While the masks presented at the ceremony are going to Taiwan’s Pacific allies, all its 15 global allies are sharing the thermal cameras.

“Today’s ceremony once again shows that Taiwan is taking concrete actions not only to safeguard the health of Taiwanese people but also to contribute to global efforts to contain COVID-19,” said Foreign Minister Joseph Wu.

Though Pacific Island states offer little economically to either China and Taiwan, their support is valued in global forums such as the United Nations and as China seeks to isolate Taiwan.

China has offered to help developing countries including those of the Pacific, and many see Chinese lending as the best bet to develop their economies.

But critics say Chinese loans can lead countries into a “debt trap”, charges China has angrily rejected.

The debt issue was a serious problem and would only lead to the spread of Chinese influence regionwide, said Jarden Kephas, the ambassador of Nauru.

“They will end up dominating or having a lot of say in those countries because of the amount of debt,” he told Reuters, wondering how the money could ever be repaid. “We are not rich countries.”

Source: Reuters

12/04/2020

Covid-19 lockdowns brought blue skies back to China, but don’t expect them to last

  • Between January 20 and April 4, PM2.5 levels across the country fell by more than 18 per cent, according to the environment ministry
  • But observers say that as soon as the nation’s factories and roads get back to normal, so too will the air pollution levels
Blue skies were an unexpected upside of locking down cities and halting industrial production across China. Photo: AFP
Blue skies were an unexpected upside of locking down cities and halting industrial production across China. Photo: AFP
China’s air quality has improved dramatically in recent weeks as a result of the widespread city lockdowns and strict travel restrictions introduced to contain the

coronavirus epidemic

. But experts say the blue skies could rapidly disappear as factories and roads reopen under a government stimulus plan to breathe new life into a stalled economy.

According to the Ministry of Ecology and Environment, between January 20 and April 4 the average concentration of PM2.5 – the tiny particles that pose the biggest risk to health – fell by 18.4 per cent from the same period of last year.
Meanwhile, the average number of days with good air quality – determined as when the air pollution index falls below 100 – rose by 7.5 per cent, it said.

Satellite images released by Nasa and the European Space Agency showed a dramatic drop in nitrogen dioxide emissions in major Chinese cities in the first two months of 2020, compared with a year earlier.

According to Nasa, the changes in Wuhan – the central China city at the epicentre of the initial coronavirus outbreak – were particularly striking, while nitrogen dioxide levels across the whole of eastern and central China were 10 to 30 per cent lower than normal.

The region is home to hundreds of factories, supplying everything from steel and car parts to microchips. Wuhan, which has a population of 11 million, was placed under lockdown on January 23, but those restrictions were lifted on  Wednesday
.
Air pollution is likely to return to China’s cities once the lockdowns are lifted. Photo: Reuters
Air pollution is likely to return to China’s cities once the lockdowns are lifted. Photo: Reuters
Nitrogen dioxide is produced by cars, power plants and other industrial facilities and is thought to exacerbate respiratory illnesses such as asthma.

The space agency said the decline in air pollution levels coincided with the restrictions imposed on transport and business activities.

That was consistent with official data from China’s National Development and Reform Commission, which recorded a 25 per cent fall in road freight volume and a 14 per cent decline in the consumption of oil products between January and February.

Guangzhou cases prompt shutdown in ‘Little Africa’ trading hub

8 Apr 2020

Liu Qian, a senior climate campaigner for Greenpeace based in Beijing, said the restrictions on industry and travel were the primary reasons for the improvement in air quality.

According to official data, in February, the concentrations of PM2.5, nitrogen dioxide and sulphur dioxide – a toxic gas that comes mostly from industrial burning of coal and other fossil fuels – all fell, by 27 per cent, 28 per cent and 23 per cent, respectively.

“The causes of air pollution are complicated, but the suspension of industrial activity and a drop in public transport use will have helped to reduce levels,” Liu said.

As the epicentre of the Covid-19 pandemic has shifted to the United States and

Europe

, human and industrial activity in China is gradually picking back up, and so is air pollution.

Lauri Myllyvirta, lead analyst with the Centre for Research on Energy and Clean Air in Helsinki, said that levels of nitrogen dioxide pollution, measured both by Nasa satellites and official stations in China, started inching back up in the middle of March and had returned to normal levels by the end of the month.

That coincided with the centre’s findings – published on Carbon Brief, a British website on climate change – that coal consumption at power plants and oil refineries across China returned to their normal levels in the fourth week of March.

How the Wuhan experience could help coronavirus battle in US and Europe

10 Apr 2020

Ma Jun, director of the Institute of Public & Environmental Affairs, a Beijing-based charity, said a stimulus plan to kick-start the economy would have a significant impact on air pollution.

“Once industrial production is fully resumed, so are the emission levels,” he said. “Unless another outbreak happens and triggers another lockdown, which would be terrible, the improvement achieved under the pandemic is unstable and won’t last long.”

After the 2008 financial crisis, Beijing launched a 4 trillion yuan (US$567.6 billion) stimulus package that included massive infrastructure investment, but also did huge damage to the environment. In the years that followed, air pollution rose to record highs and sparked a public backlash.

Even before the Covid-19 outbreak, China’s economy was slowing – it grew by 6.1 per cent in 2019, its slowest for 29 years – and concerns are now growing that policymakers will go all out to revive it.
“Local governments have been under huge pressure since last year, and there are fears that environmental regulations will be sidelined [in the push to boost economic output],” Ma said.
But Beijing had the opportunity to get it right this time by investing more in green infrastructure projects rather than high-carbon projects, he said.
“A balance between economic development and environmental protection is key to achieving a green recovery, and that is what China needs.”
Source: SCMP
09/04/2020

WHO rejects ‘China-centric’ charge after Trump criticism

GENEVA (Reuters) – World Health Organization officials on Wednesday denied that the body was “China-centric” and said that the acute phase of a pandemic was not the time to cut funding, after U.S. President Donald Trump said he may put contributions on hold.

The United States is the top donor to the Geneva-based body which Trump said had issued bad advice during the new coronavirus outbreak.

U.S. contributions to WHO in 2019 exceeded $400 million, almost double the 2nd largest country donor, according to figures from the U.S. State Department. China contributed $44 million, it said.

“We are still in the acute phase of a pandemic so now is not the time to cut back on funding,” Dr Hans Kluge, WHO regional director for Europe, told a virtual briefing when asked about Trump’s remarks.

Trump told a news conference on Tuesday that the United States was “going to put a hold on money spent to the WHO,” however, he appeared to backtrack later when in response to questions he said: “We’re going to look at it.”

It was not immediately clear how Trump could “block” funding for the organization. Under U.S. law, Congress, not the president, decides how federal funds are spent.

Dr Bruce Aylward, senior advisor to the WHO Director-General, also defended the U.N. agency’s relationship with China, saying its work with Beijing authorities was important to understand the outbreak which began in Wuhan in December.

“It was absolutely critical in the early part of this outbreak to have full access to everything possible, to get on the ground and work with the Chinese to understand this,” he told reporters.

“This is what we did with every other hard-hit country like Spain and had nothing to do with China specifically.”

Aylward, who led a WHO expert mission to China in February, defended WHO recommendations to keep borders open, saying that China had worked “very hard” to identify and detect early cases and their contacts and ensure they did not travel.

“China worked very, hard very early on, once it understood what it was dealing with, to try and identify and detect all potential cases to make sure that they got tested to trace all the close contacts and make sure they were quarantined so they actually knew where the virus was, where the risk was,” he said.

“Then they made it very clear that these people would not and could not travel within the country, let alone internationally,” he added.

WHO Director-General Tedros Adhanom Ghebreyesus has been lavish in his praise of China from early in the outbreak, praising President Xi Jinping’s “rare leadership”.

David Heymann, a professor at the London School of Hygiene & Tropical Medicine who led WHO’s response to the 2003 SARS outbreak, said that any U.S. funding cut would be a huge blow.

“If the WHO loses its funding it cannot continue to do its work. It works on a shoe-string budget already,” Heymann said in London. “Of course it would be disastrous for the WHO to lose funding.”

Source: Reuters

09/04/2020

Japan’s economy faces extreme uncertainty as coronavirus spreads: central bank head

TOKYO (Reuters) – Uncertainty over Japan’s economic outlook is “extremely high” as the coronavirus pandemic hits output and consumption, central bank Governor Haruhiko Kuroda said, stressing his readiness to take additional monetary steps to prevent a deep recession.

While aggressive central bank actions across the globe have eased financial market tensions somewhat, corporate funding strains were worsening, Kuroda told a quarterly meeting of the Bank of Japan’s regional branch managers on Thursday.

“The spread of the coronavirus is having a severe impact on Japan’s economy through declines in exports, output, demand from overseas tourists and private consumption,” he said.

Japan recorded 503 new coronavirus infections on Wednesday – its biggest daily increase since the start of the pandemic – as a state of emergency took effect giving governors stronger legal authority to urge people to stay home and businesses to close.

In contrast to stringent lockdowns in some countries, mandating fines and arrests for non-compliance, enforcement will rely more on peer pressure and a deep-rooted Japanese tradition of respect for authority.

The balancing act underscores the difficulty authorities have in trying to contain the outbreak without imposing a mandatory lockdown that could deal a major blow to an economy already struggling to cope with the virus outbreak.

Hideaki Omura, the governor of the central Japan prefecture of Aichi, said he would declare a state of emergency for his prefecture on Friday.

Omura said Aichi, which includes the city of Nagoya and hosts Toyota Motor Corp, was talking with the central government about being included in the national state of emergency as well, but felt he could not wait any longer to restrict movement.

“Looking at things the past week and watching the situation – the rise in patients, the number without any traceable cause – we judged that it was a very dangerous situation and wanted to make preparations,” he told a news conference.

Even with less stringent restrictions compared with other countries, analysts polled by Reuters expect Japan to slip into a deep recession this year as the virus outbreak wreaks havoc on business and daily life.

Shares of Oriental Land Co (4661.T) fell on Thursday after the operator of Tokyo Disneyland said it would keep the amusement park shut until mid-May.

Entertainment facility operator Uchiyama Holdings (6059.T) said it was closing 43 karaoke shops and 11 restaurants until May 6.

“For the time being, we won’t hesitate to take additional monetary easing steps if needed, with a close eye on developments regarding the coronavirus outbreak,” Kuroda said.

Kuroda’s remarks highlight the strong concern policymakers have over the outlook for Japan’s economy and how companies continue to struggle to generate cash, despite government and central bank promises to flood the economy with funds.

At its policy meeting later this month, the BOJ is likely to make a rare projection that the world’s third-largest economy will shrink this year, sources have told Reuters.

The BOJ eased monetary policy in March by pledging to boost purchases of assets ranging from government bonds, commercial paper, corporate bonds and trust funds investing in stocks.

The government also rolled out a nearly $1 trillion stimulus package to soften the economic blow.

Source: Reuters

12/02/2020

Coronavirus cases fall, experts disagree whether peak is near

BEIJING/SINGAPORE (Reuters) – China reported on Wednesday its smallest number of coronavirus cases since January, lending weight to a prediction by its top medical adviser for the outbreak to end by April, but a global infectious diseases expert warned of the spread elsewhere.

Financial markets took heart from the outlook of the Chinese official, epidemiologist Zhong Nanshan, who said on Tuesday the number of new cases was falling in some provinces, and forecast the epidemic would peak this month, even as the death toll in China rose to more than 1,100 people.

World stocks, which had seen rounds of sell-offs over the virus, surged to record highs on hopes of a peak in cases. The Dow industrials, S&P 500 and Nasdaq all hit new highs, and Asian shares nudged higher on Wednesday.

But the World Health Organization (WHO) has warned that the epidemic poses a global threat akin to terrorism and one expert coordinating its response said while the outbreak may be peaking at its epicentre in China, it was likely to spread elsewhere in the world, where it had just begun.

“It has spread to other places where it’s the beginning of the outbreak,” the official, Dale Fisher, head of the Global Outbreak Alert and Response Network coordinated by the WHO, said in an interview in Singapore.

“In Singapore, we are at the beginning of the outbreak.”

Singapore has reported 47 cases and worry about the spread is growing. Its biggest bank, DBS (DBSM.SI), evacuated 300 staff from its head office on Wednesday after a confirmed coronavirus case in the building.

Hundreds of cases have been reported in dozens of other countries and territories around the world, but only two people have died outside mainland China – one in Hong Kong and another in the Philippines.

WHO chief Tedros Adhanom Ghebreyesus said on Tuesday the world had to “wake up and consider this enemy virus as public enemy number one” and the first vaccine was 18 months away.

In China, total infections have hit 44,653, health officials said, including 2,015 new confirmed cases on Tuesday. That was the lowest daily rise in new cases since Jan. 30.

The number of deaths on the mainland rose by 97 to 1,113 by the end of Tuesday.

But doubts have been aired on social media about how reliable the figures are, after the government last week amended guidelines on the classification of cases.

‘STAY HOPEFUL’

The biggest cluster of cases outside China is aboard the Diamond Princess cruise ship quarantined off Japan’s port of Yokohama, with about 3,700 people on board. Japanese officials on Wednesday said 39 more people had tested positive for the virus, taking the total to 175.

One of the new cases was a quarantine officer.

Thailand said it was barring passengers from another cruise ship, MS Westerdam, from disembarking, the latest country to turn it away amid fears of the coronavirus, despite no confirmed infections on board.

“We try to stay hopeful,” American passenger Angela Jones told Reuters in a video recording. “But each day, that becomes a little bit more difficult, when country after country rejects us.”

Echoing the comparison with the fight against terrorism, China’s state news agency Xinhua said late on Tuesday the epidemic was a “battle that has no gunpowder smoke but must be won”.

The epidemic was a big test of China’s governance and capabilities and some officials were still “dropping the ball” in places where it was most severe, it said, adding: “This is a wake-up call.”

The government of Hubei, the central province at the outbreak’s epicentre, dismissed the provincial health commission’s Communist Party boss, state media said on Tuesday, amid mounting public anger over the crisis.

China’s censors had allowed criticism of local officials but have begun cracking down on reporting of the outbreak, issuing reprimands to tech firms that gave free rein to online speech, Chinese journalists said.

The pathogen has been named COVID-19 – CO for corona, VI for virus, D for disease and 19 for the year it emerged. It is suspected to have come from a market that illegally traded wildlife in Hubei’s capital of Wuhan in December.

The city of 11 million people remains under virtual lockdown as part of China’s unprecedented measures to seal infected regions and limit transmission routes.

Travel restrictions that have paralysed the world’s second-biggest economy have left Wuhan and other Chinese cities resembling ghost towns.

Even if the epidemic ends soon, it has taken a toll of China’s economy, with companies laying off workers and needing loans running into billions of dollars to stay afloat. Supply chains for makers of items from cars to smartphones have broken down.

ANZ Bank said China’s first-quarter growth would probably slow to 3.2% to 4.0%, down from a projection of 5.0%.

The likely slowdown in China could shave 0.1 to 0.2 percentage points off both euro zone and British growth this year, credit rating agency S&P Global estimated.

Source: Reuters

Law of Unintended Consequences

continuously updated blog about China & India

ChiaHou's Book Reviews

continuously updated blog about China & India

What's wrong with the world; and its economy

continuously updated blog about China & India