After coronavirus, China’s economy looks set to grow as world braces for contraction

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Red flags fly in front of the Great Hall of the People as the third session of the 13th National People’s Congress (NPC) opens on May 22, 2020 in Beijing, China.

Du Yang | China News Service | Getty Images

BEIJING — The U.S.-China relationship is at a critical turning point, analysts say, and hints of what the global landscape could look like have emerged in the few days since China’s annual parliamentary meeting wrapped up.

The highly symbolic congress – which concluded last Thursday after nearly a week of meetings – sent a strong signal to its people that 

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A Florida toy importer braces for retail upheaval

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(Reuters) – Most U.S. states have begun to reopen their economies, but Jay Foreman, chief executive of Basic Fun, said he’s more worried than ever.

FILE PHOTO: Basic Fun CEO Jay Foreman and Care Bears costume characters stand in front of the company’s showroom at Toy Fair New York in New York City, U.S. on February 24, 2020. Ashley Mady/Basic Fun/Handout via REUTERS/File Photo

The Boca Raton, Florida importer sells toys to retailers like Walmart Inc (WMT.N), Target Corp (TGT.N), Amazon.com Inc (AMZN.O), TJX Cos Inc (TJX.N) and J.C. Penney Co Inc

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Japan braces for worst postwar slump as pandemic tips economy into recession

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TOKYO (Reuters) – Japan’s economy slipped into recession for the first time in 4-1/2 years in the last quarter, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers.

Monday’s first-quarter GDP data underlined the broadening impact of the outbreak, with exports plunging the most since the devastating March 2011 earthquake as global lockdowns and supply chain disruptions hit shipments of Japanese goods.

Analysts warn of an even bleaker picture for the current quarter as consumption crumbled after the government in April requested citizens to stay home and businesses to close, intensifying

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Sony braces for lowest profit in four years, hit broadly by coronavirus

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TOKYO (Reuters) – Sony Corp (6758.T) expects operating profit to drop at least 30% this financial year to its lowest in four years as the company anticipates a hit to demand for its TVs, cameras and smartphone image sensors from the coronavirus outbreak.

Sony has halted production at some plants and experienced supply-chain disruptions as governments around the world imposed lengthy restrictions on movement and business activity to contain the virus.

Chief Financial Officer Hiroki Totoki said the consumer electronics business such as TVs “has been hardest hit right now, but the impact will expand to other businesses

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