New Delhi: The novel coronavirus pandemic continues to devastate several countries across the world — the latest count is 51,97,863 cases and more than 3, 34,680 deaths.
As the global backlash against China continues to build, the government made some key strategic decisions at the on-going annual parliamentary summit. Meanwhile, the pandemic is pushing Argentina on the brink of another default and why New Zealand is planning to adopt a three-day weekend.
ThePrint brings you the most important global stories on the coronavirus pandemic and why they matter.
China takes key strategic decisions amid global backlash
The Chinese Communist Party has taken two key decisions at the on-going annual parliamentary summit in Beijing, reports the South China Morning Post.
The government has decided to increase defence spending by 6.6 per cent and tighten the grip over Hong Kong by implementing a national security law.
“China has increased its military budget to 1.27 trillion yuan for 2020, a 6.6 per cent rise from last year despite the economic decline in the first quarter of the year, the country’s top legislative body revealed on Friday,” notes the report.
Meanwhile, some argue that if the national security law in Hong Kong is implemented, it could mean the “end of Hong Kong’s autonomy”.
“On Thursday, those (Chinese) authorities announced the most sweeping step yet, with proposed security laws that could effectively subvert Hong Kong’s remaining freedoms and bring it under full Chinese control,” according to The New York Times.
Also read: America’s new ‘tough on China’ stance seen pushing bill to delist Chinese companies
China abandons GDP target for first time
Parting from long-held precedence, The Guardian reports that Chinese authorities have decided not set a GDP target for this year. This is the first time China will not have an official GDP target since it started publishing such goals since 1990.
“We have not set a specific target for economic growth this year because our country will face some factors that are difficult to predict in its development due to the great uncertainty regarding the COVID-19 pandemic,” Chinese Premier Li Keqiang said during a session of the National People’s Congress, China’s legislature.
“He also said governments at all levels should ‘tighten their belts’, and that all types of surplus, idle and carryover funds will be withdrawn and re-allocated, to be put to better use,” notes Guardian.
Pandemic pushes Argentina on the brink of default, again
Argentina, infamous for its sovereign default on foreign loans and bonds, finds itself on the brink of yet another default due to the coronavirus pandemic, notes the Financial Times.
“Argentina extended the deadline on Thursday night for an offer to restructure $65bn of foreign debt until June 2, which will tip the country into its ninth sovereign debt default on Friday,” FT reports.
“Investors and the Argentine government have already confirmed that talks will continue after Friday, when the 30-day grace period for previously missed payments lapses. But simmering tensions over the failure to reach a deal remain, and there is still the danger of a chaotic fallout from a technical default,” it adds.
If the country defaults again, it would be the ninth time in its history. “The first episode came in 1827, just 11 years after independence. The most recent one came in 2014. In between, there were six others of varying size and form, according to Carmen Reinhart, a Harvard University economist,” notes a report in Bloomberg.
Also read: UK begins trial to see if Hydroxychloroquine prevents Covid-19
Russia was ready to celebrate a glorious past, but then came the pandemic
The Russian government had planned to celebrate its victory in World War II on 9 May as Victory Day and mourn the collective loss of lives in the war, but these plans were disrupted by the coronavirus pandemic, the New York Times is reporting.
During the initial phase of the pandemic — through February and March — it felt like Russia had ducked the coronavirus outbreak and the government continued to honour the soldiers martyred in World War II.
“The names of the millions of Russian soldiers killed in the far deadlier horrors of World War II were already appearing, one by one, on state television, scrolling down the screen in a harrowing torrent. The Kremlin offered soothing words about the pandemic, saying that Russia would not suffer too badly. So, the names kept coming, day after day, mourning Russia’s wartime martyrs at a staggering rate of more than 6,000 a minute,” notes the report.
“But at the end of March, when the coronavirus crisis could no longer be glossed over, the names suddenly vanished from TV,” it adds.
At over 3.1 lakh cases, Russia has the second highest number of coronavirus cases in the world.
Jordan’s success and failures in combating the pandemic
Jordan has been remarkably successful in combating the coronavirus pandemic as compared to its neighbouring countries, an analysis in Gzero Media states.
“To date, the country of over 10 million has recorded just nine deaths, a per capita death rate of just 0.88 per million people, compared with 32 per million in Israel and 9 in Saudi Arabia,” it notes.
“The Jordanian government’s Epidemic Committee, which is overseeing the pandemic response, has been widely praised for listening to medical professionals and delivering clear and consistent messaging to Jordanians on how to curb the disease’s spread,” it adds.
Jordan had imposed one of the most stringent lockdowns in the world, which also severely affected the economy. Now critics allege that “Prime Minister Omar al-Razzaz’s government hasn’t done enough to help jobless Jordanians and small business owners weather the economic downturn.”
Also read: US raises ante in race for coronavirus vaccine with pledge of $1.2 billion to AstraZeneca
More than 30,000 UK’s pubs, bars and restaurants may not open after the lockdown
Pubs are often considered to be the heart of UK’s cultural life. They have long been the places where everyone from low-wage labourers to wealthy executives hangout.
However, due to the economic impact of the coronavirus mandated lockdown, there is a possibility that nearly 30,000 pubs, bar, and restaurants in UK may not survive the economic onslaught — throwing UK’s hospitality industry in a tailspin, The Guardian is reporting.
British pubs face a plethora of issues. First, many of them had already been in a tight economic situation even before the lockdown began. “About 2,800 bars and restaurants closed down in the 12 months before the lockdown began,” notes the report. Second, pubs have to maintain a two-metre distance rule that would mean that only one out five pubs in the UK can open doors, according to the British Beer and Pub Association.
Japan maps out how to begin accepting foreign travellers
The Japanese government is planning to gradually lift restrictions on the entry of foreign travellers. According to the proposal, the plan is to begin by allowing business travellers and researchers.
“No timeframe has yet been set; determinations will be based not only on Japan containing the virus but on how well other countries and territories have doused the coronavirus threat. Taiwan, Vietnam and some parts of Europe that have had few infections and have strong economic ties with Japan will be early candidates,” notes a report in the Nikkei Asian Review.
“Besides approving visitors from certain regions, Japan’s government is considering a three-stage process. After businesspeople and researchers would come international students, with tourists last in line,” it further adds.
Also read: Lockdown has hit access to menstrual hygiene products in India, some other countries: Survey
New Zealand plans for a long weekend
Throughout the pandemic, New Zealand has developed the image of consistently being ahead of the curve and coming up with innovative solutions to the challenges thrown by the pandemic.
Now, Prime Minister Jacinda Ardent “lauded for her government’s effective handling of the COVID crisis, [and] has suggested moving to a four-day week in order to give a boost to an economy that is set to shrink by 8 percent this year,” notes G Zero Media.
“The idea is that the extra day off will encourage consumption, domestic tourism, and general well-being as society works through the shock of the pandemic and its aftermath. Ardern isn’t the only world leader to float the idea — Finland’s Prime Minister floated it back in January, before the pandemic hit, and a smattering of employers around the world have slowly been experimenting with shorter work weeks in recent years,” it adds.
What else we are reading:
How coronavirus turned the business of trading at banks on its head: Financial Times
The next big fights between cities and states: Axios
Trump Is a Superspreader—of Distraction: The New Yorker
What Jane Austen Can Teach Us About Staying Home: Time Magazine
How the Pandemic Splintered the Appalachian Trail: The New York Times