Geo-political news
COVID-19 – While many countries have announced plans to reopen their economies soon, many remain cautious when it comes to easing lockdown measures. China have announced the sealing of cities in a province that borders North Korea, as growing clusters of cases were reported. Elsewhere in Asia, Hong Kong’s 23-day streak without a case of local transmission ended, sparking fears that a second wave of infections may be imminent. In Europe, economies including the UK and Germany have announced plans
outlining steps to help reopen and stimulate their economies. The UK announced individuals could meet with one other person outside of their household providing social distancing rules were followed. UK Prime
Minister, Boris Johnson, has come under increasing pressure this week regarding his handling of the crisis, as well as lack of clarity in his speech on Monday surrounding the updated guidelines. The European Central bank signalled the economy had hit the low point of the virus driven slump. This comes as further stimulus packages are being introduced to help revive certain sectors within European economies. Italy’s government finally passed its long delayed €55 billion stimulus package, while the French government have unveiled a €1.3 billion investment plan to support the countries tourism sector. Tourism accounts for 7% of France’s 2.3 trillion-euro economy and Prime Minister Edouard Philippe said, “What is good for the tourism industry, is often good for the whole of France,”.
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