Friday, April 17, 2020

Live updates: China’s economy shrinks for first time in decades; U.S. plots course toward reopening business


China’s economy shrank at a rate of almost 7 percent in the first three months of the year, officials said Friday, showing how the pandemic has wrought a devastating impact on the world’s second-largest economy. The first contraction since the country began releasing data in 1992 offers a glimpse of what may be to come globally.




On Thursday evening, President Trump unveiled broad guidelines to slowly begin reopening daily life, leaving specific plans to the nation’s governors as health officials sound the alarm for more testing.


Here are some significant developments:



  • The death toll in Wuhan, the epicenter of the outbreak in China, has been revised up by 50 percent. The move followed criticism of the accuracy of China’s data, though officials gave several reasons for the discrepancy, including people dying at home who went uncounted in official statistics.

  • Britain extended a national lockdown for least three more weeks, as virus-stricken Prime Minister Boris Johnson recovers out of the hospital and some other countries in Europe start to reopen slowly.

  • A lawyer for Michael Cohen, President Trump’s former personal attorney, claimed that he had been informed by Cohen’s family that Cohen would be released to home confinement.

  • Outbreaks in the United States have sickened workers and forced closures at some of the country’s biggest meat processing plants, sparking fears of a beef shortfall.

  • Despite hopes that any number of existing drugs could serve as potential therapies for covid-19, including Trump’s boosterism about some treatments, specialists say expectations need to be tempered.






























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Live updates: China’s economy shrinks for first time in decades; U.S. plots course toward reopening business
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