Election Season Heats Up Amid Pandemic Surge and Economic Worries

Strategic Insights -

As the US election enters its final stretch, the COVID-19 pandemic is surging in many states, with over 8 million Americans infected and over 70,000 new cases reported in one day over the weekend. The pandemic's impact on the economy is also being felt, with the world economy on track to shrink by at least 4% this year. Meanwhile, China's economy has rebounded with a 4.9% growth in the third quarter, but with significant implications for the global economy.

Key Takeaways:

  • The US election is taking place during a pandemic surge, with over 8 million Americans infected and over 70,000 new cases reported in one day over the weekend.
  • China's economy has rebounded with a 4.9% growth in the third quarter, but its recovery is still investment-driven, with consumer demand weaker.
  • The pandemic is having a significant impact on the global economy, with the world economy on track to shrink by at least 4% this year.
  • China's rebound is likely to renew concerns about its economic influence and its potential for market share gains in the manufacturing and industrial sectors.
  • The US and China are economic competitors, with the recent survey from the Shanghai American Chamber of Commerce finding that nearly 80% of firms are staying put in China.
  • The pandemic is expected to continue spreading in the US, with over 42 states seeing hospitalizations rising and over 45 states experiencing expanding epidemics.

Statistics:

  • Over 8 million Americans have been infected with the COVID-19 virus.
  • Over 70,000 new cases of COVID-19 were reported in one day over the weekend.
  • The world economy is on track to shrink by at least 4% this year due to the pandemic.
  • China's economy grew 4.9% in the third quarter.
  • Nearly 80% of firms surveyed say they are staying put in China.
  • Over 42 states are seeing hospitalizations rise due to the pandemic.
  • Over 45 states are experiencing expanding epidemics.

Sources:

  • The U.S. Elections Project.
  • CBS News.
  • NPR.
  • European news outlets.
  • Shanghai American Chamber of Commerce.
  • Eurasia Group.
  • Gavekal Dragonomics.