Hospitals in USA may soon overflow with patients amid spike in COVID-19 cases

Apr 12: India and other South Asian countries are likely to record their worst growth performance in four decades this year due to the coronavirus outbreak, the World Bank said on Sunday.

The South Asian region, comprising eight countries, is likely to show economic growth of 1.8 per cent to 2.8 per cent this year, the World Bank said in its South Asia Economic Focus report, well down from the 6.3 per cent it projected six months ago.

India's economy, the region's biggest, is expected to grow 1.5 per cent to 2.8 per cent in the fiscal year that started on April 1. The World Bank has estimated it will grow 4.8 per cent to 5 per cent in the fiscal year that ended on March 31.

"The green shoots of a rebound that were observable at the end of 2019 have been overtaken by the negative impacts of the global crisis," the World Bank report said.

Other than India, the World Bank forecast that Sri Lanka, Nepal, Bhutan and Bangladesh will also see sharp falls in economic growth.

Three other countries - Pakistan, Afghanistan and the Maldives - are expected to fall into recession, the World Bank said in the report, which was based on country-level data available as of April 7.

Measures taken to counter the coronavirus have disrupted supply chains across South Asia, which has recorded more than 13,000 cases so far - still lower than many parts of the world.

India's lockdown of 1.3 billion people has also left millions out of work, disrupted big and small businesses and forced an exodus of migrant workers from the cities to their homes in villages.

In the event of prolonged and broad national lockdowns, the report warned of a worst-case scenario in which the entire region would experience an economic contraction this year.

To minimize short-term economic pain, the Bank called for countries in the region to announce more fiscal and monetary steps to support unemployed migrant workers, as well as debt relief for businesses and individuals.

India has so far unveiled a $23 billion economic plan to offer direct cash transfers to millions of poor people hit by its lockdown. In neighbouring Pakistan, the government has announced a $6 billion plan to support the economy.

"The priority for all South Asian governments is to contain the virus spread and protect their people, especially the poorest who face considerable worse health and economic outcomes," said senior World Bank official Hartwig Schafer.

Beijing, Jun 15: China is locking now ten more neighbourhoods in Beijing to try and contain the spread of a new coronavirus outbreak linked to a food market, authorities announced Monday.

City official Li Junjie said at a press conference that fresh cases had been found in a second wholesale market in northwestern Haidian district, and as a result, the market and nearby schools would be closed, and people living in ten communities around it placed under lockdown.

Washington, May 20: Once dubbed as historic by him, US President Donald Trump on Tuesday said he now feels ‘differently’ about the trade deal he signed with China earlier this year.

He said this while once again venting out his frustration with the Beijing leadership, accusing it of letting coronavirus spread.

Till Tuesday, over 92,000 Americans have died and 1.5 million tested positive for coronavirus that has globally killed around 320,000 people.

The US and China had signed a deal in January to end their 22-month-long trade war during which the two countries slapped tit-for-tat tariff hikes on products worth nearly half a trillion USD.

Under it, Beijing agreed to increase its purchase of US goods by USD 200 billion in 2020-2021.

“I feel differently now about that deal than I did three months ago,” Trump told reporters during a Cabinet meeting at the White House.

“We will see what all happens, but it's been a very disappointing situation. A very disappointing thing happened with China because the plague flowed in and that wasn't supposed to happen and it could have been stopped," he said.

Trump said he was very excited when the trade deal with China was signed.

“But once the virus came in, once the plague, as I called it, came in, I said how did they let that happen? And how come it didn't go into other sections of China? Why did they block it from leaving Wuhan? But they didn't block it from going to the rest of the world, including the United States. Why is that? Beijing doesn't have it. Other places don't have it,” he said.

Trump did not respond to questions on retaliation against China.

Meanwhile, top American senators continued to press the administration that rules of engagement with China needs to change post-coronavirus.

“As we know, they unleashed this virus on America and the world with their classic communist cover-up, deception, continued propaganda campaign, costing now over 90,000 American lives, 35 million Americans losing their jobs so far,” Senator Martha McSally said during a Congressional hearing.

“We don’t know who patient zero is, they destroyed samples, they silenced doctors, they kicked out journalists, they impacted international travel to seed this and their reckless behaviour continues to be the root of all this,” she said.

As a result of coronavirus, the American economy has been thrown into recession; more than 36 million people have lost their job – the worst ever after last century’s great depression.

Many of the US states have now started opening up, after taking necessary precautions.

By conservative estimates, it will take several quarters for the economy to be back on track.

Trump in the last a few weeks has exuded confidence that the economy will be back on track next year.