Overseas Headlines- December 20, 2019

December 20, 2019

United States:

Democrats’ Urgency on Trump’s Impeachment Tested by Pelosi Delay

“House Democrats who’ve argued for months that President Donald Trump’s impeachment was a matter of urgent national interest are now being forced to defend House Speaker Nancy Pelosi’s delay in handing the case over to the Senate. Pelosi’s top lieutenants, some of whom said they got no heads-up that the speaker was holding back the next step in the impeachment process, brushed aside that there was an intractable stand-off with Senate Republicans. They said the issues would be resolved by Pelosi and Senate Majority Leader Mitch McConnell by early January when both chambers return to Washington from the holiday break.”




U.K. Third-Quarter Growth Revised Higher

“The U.K. economy grew more strongly than previously estimated in the third quarter on the back of the dominant services sector, figures published Friday showed. Gross domestic product rose 0.4% instead of 0.3%, the Office for National Statistics said. Economists had expected growth to remain unrevised. It means Britain easily avoided a recession after a hangover from stockbuilding ahead of the original March 29 Brexit deadline caused output to fall in the second quarter. However, growth remains relatively subdued, with the economy expanding just 1.1% from a year earlier — the weakest annual pace since the start of 2018.”




Longtime China Watchers Predict What’s Next for Slowing Economy

“China’s economy started the decade in a boom and will end it suffering the worst slowdown since the early 1990s. What comes next? Bloomberg asked some of the world’s most prominent China watchers, several of which distinguished themselves over the past 10 years with prescient forecasts or market-beating returns. Predictions of even slower economic growth were near unanimous among the group, though most respondents also said policy makers have the tools to avoid a crisis. Several investors flagged buying opportunities in Chinese stocks after valuations sank to record lows versus global peers.”


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