Overseas Headlines – June 12, 2020

United States:

 Don’t Give Up on Bringing Manufacturing Back to the U.S.

 “More than three years ago, Donald Trump was elected president on a promise to bring U.S. manufacturing back from China. Even before the coronavirus pandemic hit, Trump’s economic expansion — which became the longest on record — didn’t even manage to restore all the manufacturing jobs lost in the Great Recession, much less reverse the declines of the previous decade: Nor was it simply a case of automation taking over from human laborers.  Manufacturing production fell in 2019, and never reached its pre-2008 peak”



 U.K. Economy’s 20% Record Plunge Adds Pressure for More Stimulus

“The U.K. economy shrank a record 20.4% in April as businesses and workers reeled under the lockdown designed to control the coronavirus pandemic. The contraction means the nation has effectively seen almost 18 years of growth wiped out in two months. While a rebound is likely as businesses start to reopen, the grim figures will increase the pressure on the government and Bank of England to do more to support the recovery.”



 Singapore May Re-Open Practically Entire Economy This Month

“Singapore is on track to lift more restrictions on companies and residents by the end of June, and expects practically the entire economy to reopen in that phase, according to a top minister. “With the start of phase two, we expect virtually the entire economy to be reopened — shops, F&B, dining, social interactions, but there will be limits on the number of people who can get together.” Lawrence Wong, minister for national development, told Bloomberg TV’s Haslinda Amin on Friday.”



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