Geo-political
Coronavirus update – Global stocks rebounded throughout the week, as news emerged of a potential coronavirus vaccine has been discovered. This, coupled with figures of a rising recovery rate and several positive earnings figures helped raise optimism throughout markets, as individuals gained confidence that industries could ride out the effects of the virus. However, this optimism was short lived and the rally in stocks ran out of steam by week’s end. Asian share markets fell on Friday as the growing economic effects of the coronavirus filtered through. Cities have been shut off, with factories and other businesses including; restaurants, cinemas, transport providers and shops all ceasing activity. While the World Health Organisation has said it is too early to call a peak in the outbreak, Chinese officials including President Xi Jinping made reassuring comments this Friday and Chinese trade figures have offered a glimpse into the negative effects of the virus, signalling that fears of a pandemic remain high.
Trump’s Impeachment – Following a four-month impeachment showdown, President Donald Trump was found not guilty, following the vote of 100 senators. President Trump’s political stance has been strengthened throughout the whole ordeal, as he was up 49% in the Gallup presidential approval polls. Following the news of his absolution of all impeachment claims, all attention turned to the National Prayer Breakfast in Washington on Thursday morning where President Donald Trump would come face to face with Nancy Pelosi, who led the drive to impeach him. The two had not seen one another since October, when she walked out of a White house meeting. The tensions were clearly hostile, and the mutual snubbing began almost immediately, as the President refused to shake the outstretched hand of Ms Pelosi. Ms Pelosi then retaliated by omitting the customary laudatory words in her introduction of the President, this, followed by Ms Pelosi ripping up President Trump’s speech.
