Foreign Investors pull out USD 26 billion from Asian economies
Amidst global economic recession due to coronavirus, foreign investors have pulled out an estimated USD 26 billion from developing Asian economies.
Foreign investors have pulled an estimated USD 26 billion out of developing Asian economies increasing concerns of a major economic recession in Asia, the latest report on global economic effects of COVID-19.
In Europe, over 30 million people in Germany, France, the UK, Spain, and Italy have applied for state support, while first quarter 2020 data indicates that the eurozone economy contracted by 3.8 percent, the largest quarterly decline since the series started in 1995, it said.
In the US, preliminary data indicated that the GDP fell by 4.8 per cent in the first quarter of 2020, the largest quarterly decline since the fourth quarter...