Overseas Headline – January 14, 2021

United States:

U.S. Decides Against Investing Ban on Alibaba, Tencent and Baidu

“U.S. officials deliberated but ultimately decided against banning American investment in Alibaba Group Holding Ltd. and Tencent Holdings Ltd., a person familiar with the discussions said, removing a cloud of uncertainty over Asia’s two biggest corporations.”



German Economy Stalls, Probably Evading Double-Dip Recession

“The German economy stagnated at the end of last year, probably avoiding a double-dip recession that is engulfing the euro area. The statistics office predicted that the country’s renewed pandemic lockdown won’t have the same severe impact as restrictions earlier in 2020. It estimates output remained flat in the fourth quarter, capping a year that saw an economic contraction of 5%.”



BOK Frets Over Uneven Recovery as South Korea Waits for Vaccine

“South Korea’s central bank meets this week with Governor Lee Ju-yeol flagging the fragility of an economic recovery threatened by the resurgence of the virus. With the country facing a possible slowdown in demand at home and abroad, the Bank of Korea is expected to maintain its support for the economy on Friday by keeping interest rates at a record low and showing a readiness to help stabilize markets if necessary.”



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