Tuesday, August 9News That Matters
Shadow

Tag: grew

Despite pandemic, China’s economy grew 2.3% in 2020

Despite pandemic, China’s economy grew 2.3% in 2020

World
Jan. 18 (UPI) -- China's economy grew faster than expected last year, making it one of the only major economies to see expansion amid the COVID-19 pandemic. The National Bureau of Statistics of China on Monday reported gross domestic product increased by 2.3% compared to 2019 as countries worldwide struggled due to lockdowns and border closures put in place to stamp out spread of the coronavirus. Advertisement "The performance was better than we expected," Ning Jizhe, head of the bureau, said during a press conference. The Asian nation was the original epicenter of the virus, which first emerged in its central Wuhan city in December 2019 before spreading the world over. In the first three months of the year, China posted a 6.8% contraction, its first on record, as it placed cities with p...
World's rich grew by $2.5B a day in 2018 as poor's wealth dropped, Oxfam claims

World's rich grew by $2.5B a day in 2018 as poor's wealth dropped, Oxfam claims

World
Jan. 21 (UPI) -- The economic divide between the world's haves and have-nots widened last year, as the planet's billionaires saw their collective wealth increase by $ 2.5 billion a day while humanity's poorest half saw its wealth drop by 11 percent, a report published Monday by Oxfam showed. Published a day before the start of the World Economic Forum in Davos, Switzerland, the "Public Good or Private Wealth" report by the anti-poverty NGO states that the number of billionaires has almost doubled since the 2008 financial crisis while the world's corporations and super rich are "undertaxed." "Governments have been reducing both the top rate of personal income tax and the rate of corporate income tax over the long term," the report said, adding that if this were reversed, countries could af...