Geo-political news
COVID-19 – Although fatality figures reached 100,000 in the US this week, global market sentiment was positive going into Friday. Plans to ease lockdown measures in countries across Europe continue to progress. The Netherlands are accelerating their process of reopening the economy and gyms are even set to reopen earlier than anticipated. Elsewhere in Europe, Ireland are said to be remaining cautious as evidence suggests in other countries such as Italy, who are relatively far into their reopening process, have experienced rising new cases each day this week.
The European Union proposed plans for a stimulus package worth €750 billion ($826 billion). Bloomberg reported that the package would be split, €500 billion in loans and €250 billion grants. The stimulus package
not only aims to lift the region out of a pandemic led recession but is also envisaged to be essential in helping countries attract foreign investors after the pandemic. The signing off process is currently underway as EU members are set to hold talks to discuss the various details of the aid fund.
US-Sino tensions – Tensions clearly have not cooled between the US, China, and Hong Kong despite the pandemic. US President, Donald Trump, has vowed to cancel the visas of thousands of Chinese students this week and has stated that the US could no longer certify Hong Kong’s political autonomy from China. The dispute between Hong Kong and China, over China’s attempts to assert more control over Hong Kong,
is reaching boiling point, as there are talks of a new cold war.
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