FT News Briefing European lockdowns worry investors, China’s Five-Year plan
Oct 29, 2020
Investors are on edge as Germany and France reintroduce lockdowns to combat rising COVID-19 cases, causing a slump in U.S. stock markets. There are concerns about the economic impact of these measures on both sides of the Atlantic as winter approaches. Meanwhile, China's leadership outlines ambitious long-term goals for the nation, focusing on self-sufficiency and environmental sustainability. The volatility in the stock market reflects broader uncertainties ahead of the U.S. presidential election.
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European Lockdowns
- European leaders are worried about rising COVID-19 infections and implementing new restrictions.
- Germany and France are closing restaurants, bars, and entertainment venues but keeping schools and factories open.
EU Coordination Challenges
- EU health and security measures are typically national responsibilities, causing past coordination issues.
- Now, there are efforts for a more unified response across Europe to the pandemic.
US Can Learn from Europe
- Europe may offer lessons for the US as some officials suggest the US is weeks behind in the pandemic's trajectory.
- Relaxing restrictions too much led to Europe's second wave, and winter poses further challenges.