Tag Archives: Global

CIA Believes China Tried to Prevent WHO from Declaring Coronavirus ‘Global Health Emergency’: Report

CIA Believes China Tried to Prevent WHO from Declaring Coronavirus ‘Global Health Emergency’: ReportThe CIA reportedly believes that China attempted to prevent the World Health Organization from declaring a global health emergency during the beginning stages of the coronavirus pandemic in January.In a report titled "U.N.-China: WHO Mindful But Not Beholden to China," the CIA detailed that China threatened to cease cooperating with the WHO's coronavirus investigation if the agency declared a global health emergency, Newsweek reported on Tuesday. The threats came at the same time that China reportedly "intentionally concealed the severity" of the outbreak in order to hoard medical supplies.U.S. officials told Newsweek that they could not say whether Chinese premier Xi Jinping was personally involved in the effort to pressure the WHO. A German intelligence report published by Der Spiegel last week concluded that Xi was indeed involved in the effort.The WHO declared a global health emergency on January 30, about one month after China confirmed the emergence of the then-unidentified pathogen in the city of Wuhan."Let me be clear: This declaration is not a vote of no confidence in China. On the contrary, WHO continues to have confidence in China's capacity to control the outbreak," WHO Director-General Tedros Anhanom told reporters at the time. The coronavirus outbreak has since become a pandemic, causing over 4,000,000 confirmed infections and killing almost 300,000 worldwide as of Tuesday.Accusing the WHO of mishandling the crisis and kowtowing to China, President Trump in April announced he would suspend U.S. funding for the organization."I’m instructing my administration to halt funding of the WHO while a review is conducted to assess the WHO’s role in severely mismanaging and covering up the spread of the coronavirus,” Trump said at a White House press conference. “The WHO failed in this basic duty and must be held accountable.”



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Global oil output cuts held hostage to standoff

Global oil output cuts held hostage to standoffOil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts. The United States has encouraged global cooperation to bolster an oil market that collapsed as the coronavirus pandemic accelerated in March and producers resorted to a price war after failing to agree on how to prop up prices. Oil prices tumbled on Thursday despite OPEC+ nearing agreement as the lockdowns ordered across the world sucked life out of the global economy, and traders reckoned that even a combined reduction of 15 million bpd would be too little to stabilise the market.



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US sees coronavirus window to push Taiwan's global status

US sees coronavirus window to push Taiwan's global statusThe Trump administration is seizing the opportunity of the coronavirus pandemic to push a cause that has long been an irritant in U.S. relations with China: Taiwan. The virus has added yet another dimension to U.S.-China tensions that were already wracked by a trade war and heated discussions over intellectual property, human rights and Chinese policies in Hong Kong and the South China Sea. As the pandemic has grown, U.S. officials and lawmakers have stepped up alternately bashing China for a lack of transparency over the outbreak and praising Taiwan for its response to the outbreak.



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UN: Pandemic could shrink global economy almost 1% in 2020

UN: Pandemic could shrink global economy almost 1% in 2020The global economy could shrink almost 1% this year due to the new coronavirus, a sharp reversal from the pre-pandemic forecast of 2.5% growth, the United Nations said Wednesday. The U.N. Department of Economic and Social Affairs warned in a report that the decline could be even deeper if restrictions on economic activities extend into the third quarter of the year and if fiscal stimulus efforts don’t support income and consumer spending. “Fears of the exponential spread of the virus — and growing uncertainties about the efficacy of various containment measures — have rocked financial markets worldwide,” the report noted, “with market volatility surpassing its peak during the global financial crisis and equity markets and oil prices plunging to multi-year lows.”



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