The World Economic Forum in Davos, Switzerland, is once again underway. Political leaders, central bankers, and economists from all around the world are gathering to discuss their policy-making plans this week.
Today, US President Donald Trump spoke before the Davos audience, saying that he is proud of the work his administration has done to help boost the economy of the United States, noting that the deal with China and the revised NAFTA are particularly important successes.
Trump also didn’t miss his chance to criticise climate change activists, showing once again he does not intend to support any “green” legislation in the US because he does not appear to believe in global warming. His words are in stark contrast to other discussions during the WEF in Davos, where climate change is the main topic this year, especially in light of the recent fires in Australia.
While Trump was speaking in Davos, back in the United States the Senate got ready for Trump’s impeachment trial, which is now beginning in earnest. Trump continues to claim he is innocent on all accounts. In any case, he most probably won’t be removed from office because the Republican Party holds a majority in the Senate.
Meanwhile, another crisis appears to be in the making, as a new lethal type of coronavirus epidemic is beginning in China. There have also been cases of people with the disease in Japan, South Korea, and Thailand. Hundreds are currently infected, and several deaths have occurred since the virus first appeared in December. It is unclear whether the Chinese authorities are providing accurate data on the scale of the epidemic, so it is worth keeping an eye on it. The stock markets are already reacting negatively to the news.
