The U.S. economy grew by 2.1 percent in 2019. GDP growth fell 1% in 12 months, according to the Commerce Department. GDP growth may fall again in 2020, thanks to the tech trade war, the coronavirus, a decrease in corporate revenue as well as a drop in consumer spending.
China’s GDP growth dropped from 6.2% in 2018 to 6.0% in 2019. According to the Chinese government, the coronavirus could shave another 2.0% off GDP growth in 2020. That’s why the Chinese injected $170 billion into their economy when the markets opened after the Chinese New Year. Hundreds of businesses won’t open this week in order to stop the spread of the virus. More than 14,000 cases of the virus produced more than 220 deaths, and the Chinese fear those numbers will continue to climb.
The Chinese rejected U.S. help during the deadly outbreak even though the president said he shut the virus down. The U.S. did suspend travel to China, and the FAA grounded flights destined for China. Several countries are on the defense as more coronavirus cases surface around the world. Five U.S. states reported cases of the virus.
Boris Johnson made headlines when he told the EU he would implement customs checks on merchandise from the EU if he doesn’t get the trade deal he wants. Three EU members told Johnson they won’t honor the extradition agreement the EU had with the U.K. now that the Brits have the freedom to trade with other countries without input from the EU.
Prince Andrew claims he’ll talk to the FBI about Jeffrey Epstein, but he’ll do that in London, not the United States. The U.S. can’t force Andrew to talk about his relationship with Epstein, but Andrew told the British press he’ll say the same thing he said during his BBC interview. Most Brits think Andrew’s BBC performance was sketchy.
Mike Pompeo went to Ukraine and other countries in eastern Europe to stop Huawei’s attempt to control the global 5G market. The U.K. will use Huawei’s 5G infrastructure to help build parts of their 5G cellular network despite threats from Mr. Pompeo. Pompeo said he would cut off U.S. intelligence reports. But Mr. Johnson told the press that won’t happen.
Mike Bloomberg came out swinging after the president called him Mini Mike. Mr. Trump also said Mike will have to stand on a box to speak behind a debate podium. Mr. Bloomberg called Trump a habitual liar and his spray-tan, obesity, and fake hair proves he lies about everything.