TRUMP TRIUMPTH
“Two thirds of the senators present not having found him guilty of the charges contained therein, it is therefore ordered and adjudged that the said Donald John Trump be, and he is hereby, acquitted,” said Supreme Court Chief Justice John Roberts, who presided over the trial.
Donald Trump drew on staunch Republican support to easily defeat a Democratic effort to expel him from office for pressuring Ukraine to help bolster his re-election effort. Vote in the Senate showed just how solid a grip the former real estate mogul holds over the Republican Party — an asset nine months before he seeks a second four-year-term. Republicans ultimately stayed loyal in voting to clear the president of charges of abuse of power, by 52 to 48, and of obstruction of Congress, by 53 to 47 — far from the two-thirds supermajority required for conviction.
China is paying Cost of Corona heavily
China is facing immense pressure from the business world also. After Corona Virus erupt in the country, the world started looking republic in different way. People are not only sceptical about Chinese people only but of Chinese product and services also. Many incidents have been reported in media, saying how Chinese are being subject of discrimination and isolation.
Restaurants, cinemas, transport providers, hotels and shops are all quickly feeling the impact.Any delay resuming production and selling goods is likely to lead to cash-flow problems, especially for smaller operations.
Many companies will have to continue paying bills, including employees’ pay.
And for manufacturers selling goods abroad, there may be some issues with buyers becoming more reluctant to buy from China.
Hyundai, of South Korea, has suspended its car production because of problems with the supply of parts from its operation in China – an early warning sign of possible extensive disruption ahead.
China is an important supplier for the global motor industry and the electronics sector. Financial markets have also felt the effect of the health crisis. Stock markets around the world are lower than they were two weeks ago. China’s market fell 8% on the first day of trading after the holiday.
Crude oil hit its lowest level in more than a year. It has dropped by about 15% in the past two weeks, reflecting declining demand from China – underlined by reports the country’s leading refiner, Sinopec, is cutting back.
US- CHINA trade war impacting India also.
China-India trade has been affected by the trade war during the past year. According to Chinese statistics, from January to September 2019, China-India trade was $69.66 billion, a year-on-year decrease of 3 percent. Breaking the total down, China’s exports to India stood at $56.31 billion, a reduction of 2.7 percent, while imports from India were $13.35 billion, down 4.1 percent. India’s trade deficit with China reached $42.96 billion. India urgently needs to expand exports to China. It’s become a vital issue in bilateral relations.
In terms of Indian exports to China, mineral products, chemical products and textiles are the top three categories. In 2018, India exported $5.03 billion worth of mineral products, $3.63 billion of chemical and $1.84 billion of textiles, and these three products accounted for 63.6 percent of India’s exports to China.
China imports many raw materials, mostly for use in manufacturing, which generate a large number of export products. Since the outbreak of the trade war, China’s export to the US have been affected by increased tariffs. That in turn has forced Chinese manufacturers to reduce their imports of raw materials from India.