China and US economies diverge over coronavirus response

WASHINGTON - The United States and China dealt with the spread of the devastating coronavirus pandemic in vastly different ways, and that split is reshaping the global battle between the world's two leading economies.

In the United States, 221,000 people are dead from Covid-19 after a delayed federal response, partisan battles over mask-wearing and lockdowns, and plenty of public events that do not follow public health guidelines. The country is in the midst of a new wave of infections. The real difference between the United States and China is Washington"has been arguing over stimulus issues on Capitol Hill and it's still far too little and too late," said Broadman, who has served under both Republican and Democratic presidents.Ahead of a Nov 3 re-election bid, US President Donald Trump has blamed China for the spread of the virus and asserted his administration had done all it could to contain it.

"Reliance on investment-led growth, fueled by credit expansion, builds up even further leverage and risks in an already weak financial system, and will further pull down efficiency and the sustainable growth rate," said Mark Sobel, a former senior US Treasury official. China's exports have been stronger than expected, bolstered by demand for medical goods overseas. While the IMF projects global trade volume will fall by 10.4 per cent in 2020, China's overall share of global trade has grown.

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