Overseas Headlines- February 05, 2020


United States:

 Trump Sights In WTO Procurement Pact for Leverage on U.K., EU

 “The world is starting to see what President Donald Trump had in mind when he vaguely pledged in Davos last month to reform the World Trade Organization or he’d “do something.” Trump administration officials are circulating a draft executive order that could trigger America’s withdrawal from the WTO Government Procurement Agreement — a global trade alliance covering government contract opportunities worth $1.7 trillion.




 U.K. Economy Enjoys Bigger-Than-Expected Election Bounce

 “The U.K. economy’s bounce since the general election is proving bigger than initially estimated, justifying the Bank of England’s decision to hold fire last month on monetary easing. IHS Markit’s composite Purchasing Manager’s Index jumped to a 16-month high in January, beating an initial estimate. The dominant services sector also improved, and sentiment rose to the strongest since 2015. Sterling gained 0.3% to $1.3069 as of 9:55 a.m. in London.




Charting the Global Economic Impact of the Coronavirus

 “As China struggles to contain the deadly new coronavirus, it’s becoming increasingly evident that the disruption to its economy will spill over to the rest of the world. Provinces accounting for almost 69% of Chinese GDP will remain closed for more than an extra week after the annual Lunar New Year holiday, shutting factories, shops and restaurants, leaving ships trapped at port, and slamming household spending. Travel restrictions limit the movement of more than 48 million people, with the crucial manufacturing and logistics hub of Wuhan—the epicenter of the virus—most impacted.




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