The economy of some countries has faced a decline in recent days. The covid pandemic, the Russia – Ukraine war, rising global inflation and several other factors have all taken their toll on world economies.
Citizens on Lockdown Due To Covid-19 Outbreak In China
Covid-19 cases have been reported in major cities of China. The Chinese government has placed citizens on a national lockdown to prevent and contain the spread. China’s economy suffers from this lockdown as most sectors are shut down, and trading activities, schooling, and business activities have been restricted due to the stringent “zero-Covid-19” control policy.
The World Health Organization has described this control policy as unsustainable. A recently released report titled “It’s Time for China to Adjust Its Virus Control and Prevention Policies” stated that “Preventing the risk of the economic stall should be the priority task for china.”
Massive Hike In Job Opportunities In The US
The End of July saw an increase in job opportunities from 199,000 to 11.2 million; July tamed the unemployment rate. Reports show that an individual had two job options, which positively affected the economy. As a result, sights are foreseen that this would continue as an economic boost. The Federal Reserve has taken measures to balance the demand for jobs with the supply rate by increasing interest rates. Hiring posts are rampant in the transportation, warehousing, and utility sector.
Prolonged Crisis As Russia And Ukraine Remain At War
The prolonged Russia and Ukraine war has taken a huge toll on both economies. There have been rising inflation rates on agriculture and trading stocks and an increase in interest rates.
Suspicions have been flying around about China and Russia collaborating, but none has been confirmed. The US government fears cybersecurity attacks as Russia remains in isolation and has been one of the perpetrators of these attacks in the past. The US is putting more resources into building cybersecurity walls to prevent cyber-attacks.
Roshak Sunak Communicates His Vision As UK PM Race Enter Finals
Roshan Sunak is campaigning alongside Foreign secretary Liz Truss for the position of successor to Boris Johnson as Conservative Party Leader. Being the First British Indian to run for this post, Roshan made clear his vision for this post. He attacked the tax and inflation sector as a tool to enhance the cost of living as propaganda for this campaign. Roshan believed this would greatly improve the economy of Britain and has gotten massive support from the Indians in the diaspora who believed in this vision. As we await election results on friday evening, he pledges to work “night and day” to see this vision actualize during his tenure.