New Bank of Canada Governor Says COVID-19 Will Leave Lasting Changes on Economy
OTTAWA—Canada’s top central banker says there will be long-term economic damage from the COVID-19 pandemic as the country charts a “prolonged and bumpy” course to recovery. In his first speech as governor, Tiff Macklem says the central bank expects to see growth in the third quarter of this year as people are called back to work and households resume some of their normal activities as restrictions ease. But he warns that Canadians shouldn’t expect the short and sharp economic bounce-back expected over the coming months to last. The combination of uneven reopenings across provinces and industries, the unknown course of consumer confidence, and unemployment rates will “likely inflict some lasting damage to demand and supply,” Macklem says in a speech Monday. He said ongoing physical distancing rules may mean workplaces can’t…
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The Forbidden City in Beijing was closed between January 25 and May 1 due to the CCP virus pandemic. Shortly after a second wave of the outbreak hit the capital city in the past week, the Forbidden City lost all the tourists.
Beijing has added more than 20 risk areas, urgently closed 6 wholesale markets, and 11 communities. The Beijing Lama Temple and the National Grand Theater, re-opened on June 10 and June 2 respectively, once again announced the temporary closure on June 12 due to the new outbreak.
Focus News: Forbidden City Loses Tourists as Second Wave of Pandemic Hits Beijing
Germany Condemns Weekend Violence, Looting in Stuttgart
German Chancellor Angela Merkel and the country’s top security official on June 22 decried an outburst of violence at the weekend in the southwestern city of Stuttgart, where hundreds of people attacked stores, vehicles, and police officers following a stop-and-search for drugs. Authorities say 24 people were arrested over Saturday night’s unrest and 19 police officers were injured. Merkel’s spokesman said the scenes “were abhorrent and must be strongly condemned.” “Anyone who takes part in such outbreaks of violence, brutally attacks police officers, and destroys and plunders shops cannot in any way justify it,” Steffen Seibert said Monday. Seibert thanked police officers nationwide, saying they “should know that the German government and millions of people stand behind you.” Interior Minister Horst Seehofer, who called for “swift and tough” punishment of…