Postponement of the Summer Olympic and Paralympic Games because of the COVID-19 pandemic is likely to cost Japanese organizers around $6 billion. It’s a cost that the slumping Japanese economy could have done without.
China’s Belt and Road Initiative is progressing as it signs agreements with Myanmar. But concerns are raised over competition and debt. It’s been revealed that Chinese companies have signed BRI contracts worth 41% more in 2019 compared to 2018.
In Asia, the spread of wind power has lagged behind Europe. This is likely to change soon with predictions that by 2050, Asia would account for more than 50% of global onshore wind power installations.
China may not have been quite so negatively affected by US-China trade dispute as expected, however it is China’s lowest GDP growth figure for 29 years. Analysts are generally optimistic for China’s economy seeing several “green shoots.”
Over two years of trade tensions between the US and China have created both significant political and economic ricochets. Finally, a deal has been struck and signed between the leaders of the two massive economies.
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