The International Monetary Fund put up $50 billion to help emerging markets fight the coronavirus. Countries that need a loan to buy respiratory equipment and masks can get an interest-free loan from the IMF with few strings attached. The World Bank also has money available to purchase equipment countries need to slow down the COVID-19 virus.
Mr. Trump continues to downplay the urgency to stop the COVID-19 threat. Mr. Trump’s statements about the coronavirus don’t jibe with health officials reports, and that causes a great deal of fear and anguish for investors. The economic damage from the coronavirus virus outbreak will come to the surface at the end of March. Wall Street economists think GDP growth could drop below 1.5% in March. And global growth will suffer the same fate. The IMF claims global growth will shrink by more than 1.5%, and China’s growth will slip by 4.5%.
The death toll from COVID-19 is the major concern for American consumers. Mike Pence let the press know older people are at risk, but he said most COVID-19 symptoms mimic flu symptoms in most people. Chinese researchers in Peking discovered the coronavirus is two viruses, not one. One coronavirus causes severe respiratory symptoms, and the other strain causes mild symptoms. But researchers say they need more data to explain how the two viruses interact with humans.
Chuck Schumer got on Chief Justice John Roberts’s nerves when he stood in front of the Supreme Court building with an abortion rights group and blasted Kavanaugh and Gorsuch for trying to take women’s rights away. The Supreme Court will decide if a Louisiana case that restricts doctors from performing abortions should stay in place. Texas has a similar law. Mr. Schumer told Kavanaugh and Gorsuch their days as justices could come to an end sooner than later if they uphold that law. Roberts told Schumer he needs to calm down, but Chuck’s spokesperson said Schumer didn’t threaten the justices. He threatened the Republicans who put them on the Supreme Court.
Huawei will build a 5G factory in France to service 5G clients in Europe even if the French pass and don’t sign a 5G contract. The $223 million factory will solidify the tech giants lead in the 5G race, according to CEO Ren Zhengfei.
But Ren and his daughter Meng Wanzhou may be facing Iran sanction violation charges. A 2010 packing list surfaced that proves the company shipped Hewitt Packard computer parts to Iran while sanctions were in place. Zhengfei denies the claim, but the packing list discovery could hurt Wanzhou’s chance to beat the sanction violation charges she faces in Canada.
