We knew the GDP print was going to be bad and it didn’t disappoint. Despite the headlines, markets knew this and focused on the Industrial Production release. ( read original story …)
FINANCE
China Vows to Support Economy; U.S. Reopening Plan: Virus Update
The Trump administration issued guidelines that could allow states and employers to abandon most social distancing practices within a month, sparking a rally in stocks. Widespread shutdowns have … ( read original story …)
Macron says ‘naive’ to say China handled coronavirus epidemic better than West: FT
PARIS (Reuters) – rejected the idea that China had handled the coronavirus outbreak better than Western democracies in an interview published in Friday’s Financial Times. The FT quoted him as saying … ( read original…
China’s virus-hit economy shrinks for first time in decades
China’s economy shrank for the first time in decades in the first quarter of the year, as the virus forced factories and businesses to close. The world’s second biggest economy contracted 6.8% … ( read…
Asian shares climb on China data, Wall Street rally
Shares surged Friday in Asia after China reported economic data that, while bleak, was better than expected. The strong open followed an overnight rally on Wall … ( read original story …)
China Won’t Be Able to Bail Us Out This Time
During past crises, Beijing’s largesse buoyed regional growth. Don’t expect a repeat performance in this downturn. ( read original story …)
Global Markets: Asia shares up as plans to re-open U.S economy offset record slump in China GDP
Asian stocks gained on Friday as President Donald Trump’s plans to gradually re-open the U.S. economy offset data that showed China suffered its worst economic contraction on record due to the. MSCI’s … ( read…
Coronavirus hits China’s economy harder than anything since 1970s
Consumer spending and factory activity hint that recovery will be longer, harder than many initially believed. ( read original story …)
China Urges World Bank to Suspend Debt Payments for Poor Borrowers
Chinese Finance Minister Liu Kun said in a statement to the World Bank’s Development committee that all parties should take part in joint actions to address debt vulnerabilities amid the pandemic, … ( read original…
China urges World Bank to suspend debt payments for poorest countries
China on Thursday urged the World Bank to allow its poorest borrowers to suspend debt payments while they deal with the coronavi … ( read original story …)
China asks financial institutions to lower interest rates on guaranteed loans for start-ups
China’s finance ministry said on Thursday that financial institutions should lower interest rates on guaranteed loans for start-ups amid the coronavirus pandemic. It also encouraged financial … ( read original story …)
China Central Bank Will Continue to Support Smaller Firms Via Targeted RRR Cuts
Since early February, the central bank has unveiled a raft of measures from cutting lending rates and making cheap loans at subsidized rates to providing payment relief to firms that have been hardest … (…
China’s Risky Wealth Products Gain New Appeal in Low Rates Era
One notable consequence of China’s efforts to stimulate economic growth: companies now have a strong incentive to make risky investments. ( read original story …)
