China has just stepped into the New Year, which saw muted celebrations and sees tepid shopping season ahead as shoppers prefer to venture out sparsely leaving the malls and theatres empty. SARS had shaved off $40 billion off China's GDP. A similar impact of the Wuhan virus outbreak would be devastating for the global economy, which is still witnessing slow growth. China's economy was less coupled and interdependent with the world in 2002-03 than now. India is already facing a significant drop in GDP and any major impact may make recovery difficult."Although the fatality is low, the new virus has progressed much faster than 2003 SARS case. The impact of the outbreak on China will be severe as Wuhan is the hub of transport and industry for central China", SBI EcoWrap said in a report.China's economic growth in 2019 has dropped significantly, from 6.4% in the first quarter to 6% in the third quarter. The virus control measures would shave 1.5% from first-quarter economic GDP, with a … [Read more...] about Coronavirus is a threat to the global economy, says SBI Chief Economist
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Was the trust deficit between the government and the then army chief so wide that instead of communicating directly with the army chief and the defence minister, the PMO and other arms of the government were depending on half-baked inputs from the Intelligence Bureau? … [Read more...] about Were PM, Antony out of sync over Jan 2012 troops movement?
"Once it is safe to do so, VicForests and the Office of the Conservation Regulator will conduct detailed in-field assessments of all [timber] coupes on the current Timber Release Plan impacted by fires." … [Read more...] about Logging industry and Nationals call for burnt timber to be salvaged from national parks
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"She'd stated she would walk away if she was given $30 million or the money/assets that she had direct involvement in getting restrained," Megan Tittensor, counsel assisting a royal commission into police use of informers, read from meeting notes on Wednesday. … [Read more...] about ‘I’ll go for $30 million’: Lawyer X