US President points to China for economic crisis


Deprecated: strlen(): Passing null to parameter #1 ($string) of type string is deprecated in /home/medicircle/public_html/script_newsdetails.php on line 75
▴ US President points to China for economic crisis
The health crisis has led to a sudden surge of unemployment. American workers have already filed more than 25 million initial jobless claims since March 14. The economy lost more than 700,000 jobs in March, lifting the unemployment rate from a 50-year low of 3.5%.

American President Donald Trump came down heavily on China for failing to tame the coronavirus at its very origin, saying it has led to 184 countries "going through hell", as several American lawmakers demanded steps to reduce dependence on Beijing for manufacturing and minerals.

Trump has been freely censuring China for the worldwide spread of the "imperceptible foe" and propelled an examination against it. 

Pioneers of the US, the UK and Germany accept that the passings and the annihilation of the worldwide economy could have been saved, had China shared the data about the infection in its initial stages.

The infection, which started in China's Wuhan city in mid-November, has resulted in loss of life, in excess of two lakh individuals and infected more than 3,000,000 universally. The biggest number of them are in the US: almost 59,000 deaths and more than one million contaminations.

Meanwhile the White House is warning Americans to brace for a period of Great Depression-level unemployment this summer.Kevin Hassett, a senior economic adviser to President Donald Trump, warned Tuesday that the jobless rate in the United States could spike to between 16% and 20% by June.


That would be a startling spike from current levels of 4.4% and would mark the highest unemployment since the 1930s. (Unemployment spiked at 25% in 1933, according to estimates from the US Bureau of Labor Statistics.)

The economic numbers between May and July "will be as bad as anything we've ever seen," Hassett told CNN's Poppy Harlow.

From March onwards , the coronavirus pandemic crushed wide areas of the American economy. Restaurants, movie theaters, theme parks and sports arenas have shut down completely. And it remains unclear if consumers will return to those crowded places even if social distancing restrictions are relaxed.


Source CNN

Tags : #PresidentTrump #GreatDepression #USEconomy #KevinHasset #China #Wuhan

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

Dark Web Health Data: Why Medical Records MatterOctober 27, 2026
Can Conversational AI Improve Patient Follow-Up After Discharge?October 27, 2026
UAE fast-tracking advanced diagnostics as global market heads for US$152 billionOctober 26, 2026
How Digital Check-In Can Support More Accessible Patient JourneysOctober 26, 2026
The Role of Consent Communication in Digital Healthcare ServicesOctober 26, 2026
How Data Analytics Is Transforming Hospital Decision-MakingOctober 26, 2026
Hospital Intelligence: The Next Big Leadership Shift in India October 26, 2026
What Patients Should Expect From a Well-Designed Health Checkup ProgrammeOctober 23, 2026
Building Stronger Community-Based Screening ProgrammesOctober 23, 2026
Gulf Medical University Ranks 1st for International Student Ratio in QS Arab Region Rankings 2027October 22, 2026
Arthritis Is Not Just an Elderly Person's Disease: Why Younger Adults Are Also Developing Joint ProblemsOctober 22, 2026
Krishna Automotive strengthens its operations in Hyderabad. Enhances customer offering with BMW Service Workshop and BMW Premium Selection.October 22, 2026
CTR-JK Tyre FMSCI Indian National Car Racing Championship 2026 set for season opener in CoimbatoreOctober 22, 2026
The Anonymous Indian Charitable Trust (TAICT) Wins Sustainable Organization Award 2026October 22, 2026
Vinod Intelligent Cookware Targets Delhi’s Premium Cookware Market with Freya Brand ActivationOctober 22, 2026
Apollo Hospitals and Avadi Police Commissionerate Organise Health Camp for Police Personnel and Their Families Under ‘Kaval Kudumbam’ SchemeOctober 22, 2026
TAMPOS Midterm Conference 2026 Brings Together 150 Oncologists to Advance Cancer Care Across Tamil NaduOctober 22, 2026
Shades of Pink: Apollo Athenaa Women's Cancer Centres puts the spotlight on breast health awarenessOctober 22, 2026
How Health Systems Can Reduce Missed Follow-UpsOctober 21, 2026
What Good Care Coordination Looks Like Across Multiple ProvidersOctober 21, 2026