August 7, 2020

Asia markets hit as Congress wrangles, China-US tensions simmer

Hong Kong (AFP) – China-US tensions and US lawmakers’ struggles to find agreement on a new, much needed economic stimulus pushed equities down Friday morning — all against a backdrop of a surge of virus infections.With the multi-trillion-dollar rescue package agreed earlier this year now all but gone, the bipartisanship that rushed it through has given way to the familiar Capitol Hill wrangling as Democrats and Republicans refuse to budge on key issues.The two sides have been holding talks for more than a week on the new package but with the Democrats’ $3.5 trillion proposal more than three t…


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