美国新冠疫情日记5/19 Political Wrestling And Economic Recovery
Political Wrestling And Economic Recovery
Congress passed the Heroes Act last Friday which includes $3 billion in funding to help local and state governments and other relief projects. This bill currently is in the U.S. Senate awaiting final approval. As speaker Pelosi said, we just can’t wait, but most of senators do not agree to give one billion dollars to local and state governments. This is mostly because many of the state governments are in the hands of the Democrats.
The Federal Reserve Bank chairman has urged the federal government to take the most effective way to help local governments and private businesses to control the pandemic. Hopefully, this may mean we can expect an economic rebound soon.
The International Monetary Fund and the World Bank are warning the world that each country needs to come up with a recovery plan to rescue their failing economies. Today, Japan and India both have developed huge recovery plans that include cash handouts to all their citizens.
The Coronavirus pandemic is the largest global issue today. We think the world economy is also a huge global issue. We have arrived at a time when we are all dependent on each other. Today, the two economic superpowers, China and the United States, are fighting about economic issues and military conflict in the South China Sea.
We urge both nations to not misjudge each other. The world needs peace and we don’t want to see these conflicts bring another catastrophe to the globe.