Tag Archives: Outbreaks/Epidemics

Business

China Overtakes U.S. as World’s Leading Destination for Foreign Direct Investment

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China overtook the U.S. as the world’s top destination for new foreign direct investment last year, as the Covid-19 pandemic amplifies an eastward shift in the center of gravity of the global economy.

New investments by overseas businesses into the U.S., which for decades held the No. 1 spot, fell 49% in 2020, according to U.N. figures released Sunday, as the country struggled to curb the spread of the new coronavirus and economic output slumped.

China, long ranked No. 2, saw direct investments by foreign companies climb 4%, the United Nations Conference on Trade and Development said. Beijing used strict lockdowns to largely contain Covid-19 after the disease first emerged in a central Chinese city, and China’s gross domestic product grew even as most other major economies contracted last year.

The 2020 investment numbers underline China’s move toward the center of a global economy long dominated by the U.S.—a shift accelerated during the pandemic as China has cemented its position as the world’s factory floor and expanded its share of global trade.

While China attracted more new inflows last year, the total stock of foreign investment in the U.S. remains much larger, reflecting the decades it has spent as the most attractive location for foreign businesses looking to expand outside their home markets.

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World

U.K. Covid-19 Variant Could Be More Deadly, British Officials Say

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LONDON—British officials warned Friday that a coronavirus variant first identified in the U.K. might be more lethal as well as more transmissible than previous versions of the pathogen.

The conclusions of scientists advising the British government are still highly uncertain. But British Prime Minister Boris Johnson said in a televised address that the variant—which has caused Covid-19 infections across the U.K. to spike and is spreading rapidly in the U.S.—could result in higher death rates.

U.S. federal health authorities have said it is likely to become the dominant variant in the U.S. by March.

“We have been informed today that, in addition to spreading more quickly, it also now appears that there is some evidence that the new variant—the variant that was first identified in London and the South East—may be associated with a higher degree of mortality,” said Mr. Johnson.

The tentative conclusions come as British hospitals cope with more Covid-19 patients than at any time during the pandemic. The Covid-19 death toll in the U.K. is expected to pass 100,000 in the coming week.

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Health

Studies of South African Coronavirus Strain Raise Concerns About Immune Response

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JOHANNESBURG—Three new laboratory studies are raising concerns that the immune response triggered by a Covid-19 infection or vaccination may be less effective at protecting against the new strain of the coronavirus that first emerged in South Africa.

The findings come from experiments done in the laboratory and only look at certain elements of a body’s immune response. Still, they reinforce the possibility that vaccine makers and regulators will need to update Covid-19 vaccines as the virus evolves.

A fourth study, conducted by scientists at BioNTech SE and Pfizer Inc. and published by the companies, showed that their vaccine successfully neutralized a variant that was initially detected in the U.K. That study didn’t include the South African strain.

The U.K. variant has already spread to many other countries, including the U.S.

More than a year into the pandemic, the discovery of new variants that appear to have made the virus more contagious is forcing researchers to adapt their understanding of the coronavirus that causes Covid-19. One concern, researchers said, is that the new strains are emerging in countries where a significant percentage of people have already built up an immune response to earlier variants after getting Covid-19.

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