Europe’s economy is moving faster than US economy - Covid-19 effect!!! - page 2.

wxa7115

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Quote from: Juggy777 on July 26, 2020, 05:57:08 AM

I don’t know about you’ll but it’s been many year’s since I last heard, that Europe’s economy was moving faster than US economy, but thanks to Covid-19 times have changed and Europe’s economy is speeding ahead. Further if US doesn’t stop the spread of Covid, and reopen soon then they may find their economy lagging behind Europe for a long period of time. Lastly what kind of impact will this have for the world?, as we have always looked up to US and it’s $, so do you’ll believe that Europe’s € can make a comeback and replace the $ in the long run?.

The management of the pandemic by the US government has been erratic to say the least and this is finally having an impact on the economy of the country as investors are losing hope the crisis can be controlled as the number of cases keep climbing up.In Europe despite how hard they were hit it seems they have found a better way to contain the pandemic and this is showing.

However there is a big difference between a good economic performance and the replacement of the dollar as the reserve currency of the world as I do not believe the European Union will last long enough to really challenge the dollar in that aspect.

so98nn

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. . . and let us not forget that US spends more than 600 billion US $ on military alone!!

Dam, thats a huge stake on the military and which is not at all required in the current situation.

I was just thinking after reading your OP that US start thinking of spending this kind of money on the healthcare and proper research behind the COVID19. It would help them recover from the worsening situations faster and can get into business in no time.

It's funny how they are patrolling the US borders but not looking after the inside of nation which is getting weaker. At the last they will have empty nut shell!!

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Quote from: Latviand on July 28, 2020, 04:40:28 AM

Hopefully, the 2nd wave doesn't come.

Unless the vaccine for the virus is discovered then that would happen. By the time it happen, Europe's economy would probably going down drastically compared with US. As it stands right now, only a few country would be able to survive the pandemic without the help of other country and one of them would be US

Quote from: Latviand on July 28, 2020, 04:40:28 AM

The population in US is 331,002,651, while in Europe 747,668,167, so it is more likely that the spread of the disease in the Europe is faster than US, however, the country with a huge number of Covid-19 is still US.

That because compared with the rest of the countries, US is conducting larger number of tests therefore there are alot of cases found on the country. Some country has lower number of infected not because those countries are safer but probably due to limited number of tests being done then the infected isnt noticed and recorded onto the data

Vishnu.Reang

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Quote from: kotajikikox on July 28, 2020, 02:06:26 AM

Absolutely that Europe is now getting recovery faster compared to what US is experiencing.
we can also check in Covid recovering countries that they make it faster to flattened the curve.

no Wonder they maybe have cure?or just because they tighten the laws because my Cousin tells me bout that because he lives in that area.

If Europe is recovering faster, then the reason may be that the pandemic situation has stabilized there. The pandemic in the United States started later and even now it has not peaked there. So any potential recovery may take a few more months. But once the situation is stabilized, I have no doubt that the American economy will be back on track.

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Quote from: davis196 on July 27, 2020, 02:26:15 AM

Europe's economy isn't "moving faster" than the US economy.The EU GDP is simply going down,but a little bit slower than the US GDP.All the big economies are in recession,so there's such thing as "moving faster" and there's no growth.

But the reality that both of them have experiencing serious economic crisis is a huge problem.

You don't need to compare the rate of GDP's fall due to recession of the two countries because I'm pretty sure that not all are safe in this pandemic. Economy that moves faster will only be achieve once we surpass this pandemic and when all of the happenings do go back to normal.

Quote from: bitsurfer2014 on July 28, 2020, 12:46:01 AM

Europe's economy may outpace that of U.S. due to the ill effects of COVID-19 but let us bear in mind that this could only be temporary not to mention that the pandemic is not yet over as every country in Europe that has suffered the most could again experience next waves of this disaster, hopefully not!

Hopefully, the 2nd wave doesn't come because it can worsen the economic crisis that we are experiencing. People in Europe and US are both stubborn that's why the virus in their country is easily transmitted from one person to another. You can't blame the government because its citizens are the one who makes this suffering worse.

Besides focusing on the economy, they also focuses on the people's behavior.

Quote from: bitsurfer2014 on July 28, 2020, 12:46:01 AM

Also, I think its irrelevant to compare economic data of Europe or its countries within to that of the U.S. economy since that Europe is a continent whilst the U.S. is not. Imho.

But we should make the population as the basis and not the land mass because for me it is much precise.

The population in US is 331,002,651, while in Europe 747,668,167, so it is more likely that the spread of the disease in the Europe is faster than US, however, the country with a huge number of Covid-19 is still US.

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Quote from: Juggy777 on July 26, 2020, 05:57:08 AM

I don’t know about you’ll but it’s been many year’s since I last heard, that Europe’s economy was moving faster than US economy, but thanks to Covid-19 times have changed and Europe’s economy is speeding ahead. Further if US doesn’t stop the spread of Covid, and reopen soon then they may find their economy lagging behind Europe for a long period of time. Lastly what kind of impact will this have for the world?, as we have always looked up to US and it’s $, so do you’ll believe that Europe’s € can make a comeback and replace the $ in the long run?.

Quote

The euro area economy is for once set for a sprightlier recovery from crisis than the U.S., thanks to starkly different responses to the coronavirus. America’s failure to get a grip on the pandemic is putting the brakes on its rebound compared with Europe, where many former virus hot spots managed to resume economic activity without causing a similar surge in infections.

Source:

https://www.bloombergquint.com/global-economics/europe-s-economy-set-to-outpace-u-s-in-upending-of-past-roles

Absolutely that Europe is now getting recovery faster compared to what US is experiencing.
we can also check in Covid recovering countries that they make it faster to flattened the curve.

no Wonder they maybe have cure?or just because they tighten the laws because my Cousin tells me bout that because he lives in that area.

bitsurfer2014

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Europe's economy may outpace that of U.S. due to the ill effects of COVID-19 but let us bear in mind that this could only be temporary not to mention that the pandemic is not yet over as every country in Europe that has suffered the most could again experience next waves of this disaster, hopefully not!

Also, I think its irrelevant to compare economic data of Europe or its countries within to that of the U.S. economy since that Europe is a continent whilst the U.S. is not. Imho.

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Quote from: Sanugarid on July 26, 2020, 01:38:15 PM

I'd rather believe that Yuan is more capable of replacing the dollar currency than Euro, the data is just a short-term data every conclusion made based on this is more likely to fail.

LOL.. The CNY is one of the most manipulated currencies in the world. The Chinese government devalues the currency every now and then, to help the exporters within their country. Even their best friends, such as Russia and Iran are not comfortable in using CNY for trade between them and China. The Chinese are trying hard to make the CNY the currency of global trade. But that is not going to happen anytime soon.

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Quote from: RealMalatesta on July 27, 2020, 11:06:19 AM

Euro will replace dollar eventually with or without pandemic, there is no world where USA could continue down this spiral of "make the rich richer, make the poor poorer

This probably wont happen in the near future or atleast in 10 years span. US has been on the top of this world for quite some time and they are definitely not going down the drain especially to Europe

Quote from: RealMalatesta on July 27, 2020, 11:06:19 AM

Basically Europe is doing everything right that USA doing wrong. Maybe this pandemic showed that a little bit more carefully in the short term but at the same time it was inevitable, it will reach to that point maybe in 1 year, maybe in 10 maybe in 50 but it will get there for sure.

Yes they are but the whole word indicator would still be the US Dollar for the majority of the countries and it wont be Euro . That actually means something and we are still on the early stage of the pandemic. Things could turn south with this whole pandemic's thing and when that happens , only few countries will prevail and one of them are US

Quote from: AniviaBtc on July 27, 2020, 03:45:43 PM

We all know that based on most of the reports, US is really having a hard time handling the Covid-19 virus in their country as the people is really stubborn to follow the protocols.

It is most likely because the words " FREEDOM " is kinda jumbled up on their heads though Tongue

. Sarcasm aside, it could also due to the US is probably having their election soon so alot of ruckus on the country as well as one sided media reports

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Quote from: sheenshane on July 26, 2020, 09:19:42 AM

As I heard, these two countries are helping to each other. Just like they had a commitment to fundamental democratic principles, they should also be shared about the improvement of their GDP. I don't see that Europe will replace or even overtaking the US economy despite their difficulties of facing the problem due to the pandemic.

We all know that based on most of the reports, US is really having a hard time handling the Covid-19 virus in their country as the people is really stubborn to follow the protocols. That's the reason why they can't open businesses temporarily to recover their economy because it might increase the number of cases in their country and the Covid-19 get worse. Still, US have a well-developed economy than Europe due to its popular businesses although they are having a hard time surviving their economy.

RealMalatesta

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Euro will replace dollar eventually with or without pandemic, there is no world where USA could continue down this spiral of "make the rich richer, make the poor poorer" forever, Europe on the other both have companies that makes tens of billions of dollars in revenue from other countries and also still manage to help the least fortunate people of their nations at the same time, they are a proof that you can both have universal healthcare and also not high taxes, they are proof that you can be a billionaire, and still help poor people.

Basically Europe is doing everything right that USA doing wrong. Maybe this pandemic showed that a little bit more carefully in the short term but at the same time it was inevitable, it will reach to that point maybe in 1 year, maybe in 10 maybe in 50 but it will get there for sure.

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Quote from: davis196 on July 27, 2020, 02:26:15 AM

Europe's economy isn't "moving faster" than the US economy.The EU GDP is simply going down,but a little bit slower than the US GDP.All the big economies are in recession,so there's such thing as "moving faster" and there's no growth.

We don't know what will happen in the next few months.Maybe the USA will start to recover faster from the recession than the EU.

I'm curious what the Q2 GDP numbers will say. That will give us an idea of the possibilities for recovery in the pandemic context, especially if the lockdowns become an intermittent thing. There will most definitely be a contraction for the quarter but I have no idea if it's going to be -10% or -50%.

China got back in the black (barely) although I'm always skeptical of the official government numbers. https://asia.nikkei.com/Economy/China-s-Q2-GDP-growth-beats-forecasts-and-recovers-to-3.2

davis196

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Europe's economy isn't "moving faster" than the US economy.The EU GDP is simply going down,but a little bit slower than the US GDP.All the big economies are in recession,so there's such thing as "moving faster" and there's no growth.
We don't know what will happen in the next few months.Maybe the USA will start to recover faster from the recession than the EU.
The Federal reserve was move active than the European central bank during the last few years,so the US economy was pumped with more freshly printed money.I guess the corona crisis hits harder in the country,tht has a more artificially stimulated economy.That's just a hypothesis.

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Quote from: Sanugarid on July 26, 2020, 01:38:15 PM

I'd rather believe that Yuan is more capable of replacing the dollar currency than Euro, the data is just a short-term data every conclusion made based on this is more likely to fail. We are seeing the Europe is ahead in terms of the recovery but it does not mean anything to their economy in general. The dollar is weakening, yuan is getting stronger this is a better comparison than Euro and Dollar, competition are highly expected among these currencies.

https://data.imf.org/?sk=E6A5F467-C14B-4AA8-9F6D-5A09EC4E62A4

58% vs 1.9% is a very big comparison, Yuan does not have the capability to shift the Dollar. I think that it is almost impossible for Yuan to become a second option as an international currency with consideration

- The dollar is still considered a barometer of balancing a country's economy
- The foreign exchange reserves of many countries are in the form of dollars, hoping that replacing dollars means that a country agrees to be poor.
- Which country is willing to be paid with Yuan in international trade?
- The reason the dollar is replaced is certainly something more terrible than the great depression, and even then the US will not remain silent, who is ready to compete with the US and its allies?

Quote

What?! where'd you read this information? This information is highly classified just for the internal intelligence of the USA how could you be able to know this? LOL

As always every country's armed forces is ready not just the USA.

China wants to know your location lmao

The presence and provocation of the US military in the South China Sea can be evidence that there is an escalation of tension between the US and China. The US, which carries the slogan of America First, has an interest or feels threatened by China's military intensity, and vice versa.

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Japan was described as a hedge in many places before this crisis when a depression hits the rest of the world. This may now be a thing that rests on Europe as well as Japan. I think the US and China have lost a lot of time and its interesting if they have finally gone into lockdown? Sweden didn't and they didn't do too badly - the UK arguably had a meaningless lockdown because most of the damage was a already done.

I think the euro may see some adoption but it might take a while for other countries to switch to that rather than the dollar, Scandinavia and the UK never joined the eurozone but Europe has a lot of financial favlurabulity when it comes to transactions and regulations - such as the UK having almost instant banking transactions.

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Well, it is really possible that other countries such as China and other european countries may speed ahead of US when it comes to economy as of this time but if we talk about influence they are still far behind to US. We must consider not only the economy but also the influence of the country when it comes to technology, armed forces, education as well as politics. which has been globally accepted and embraced by most of the countries. Furthermore, --it may seems that US economy nowadays is moving slowly because of the pandemic but the mere fact that they are shutting down their global economy it can also be their one way of healing the wounds that the pandemic has caused them and when they start to open again rest assure it will be big leap that will secure their leadership and being the top country again worldwide.

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Quote from: Sanugarid on July 26, 2020, 01:38:15 PM

I'd rather believe that Yuan is more capable of replacing the dollar currency than Euro, the data is just a short-term data every conclusion made based on this is more likely to fail. We are seeing the Europe is ahead in terms of the recovery but it does not mean anything to their economy in general. The dollar is weakening, yuan is getting stronger this is a better comparison than Euro and Dollar,
~snip

If china wants the yuan to become stronger than the dollar, all they have to do is sell their $1.4 trillion dollar bonds back to the US treasury, and buy up bonds for their own currency for it. But they won't do that, because doing this will make their exports cheaper. And they don't want to decrease the value of their exports because they are the largest exporters in the world, and they would lose a ton of money from doing that.

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Quote from: Nhor1011 on July 26, 2020, 07:24:16 AM

I don't think euro can replace dollar because of this pandemic.

I'd rather believe that Yuan is more capable of replacing the dollar currency than Euro, the data is just a short-term data every conclusion made based on this is more likely to fail. We are seeing the Europe is ahead in terms of the recovery but it does not mean anything to their economy in general. The dollar is weakening, yuan is getting stronger this is a better comparison than Euro and Dollar, competition are highly expected among these currencies. In 1990s there was an analysis that suggests the Euro to replace the dollar by the year 2020 stating that it could be the major reserved currency but only if European countries will use Euro as their main currency which is unlikely to happen.

Quote from: Nhor1011 on July 26, 2020, 07:24:16 AM

Also if ever the economy of US will not recovering ,they can't fight against china and i read something that US are now preparing their armed forces to battle against china.

What?! where'd you read this information? This information is highly classified just for the internal intelligence of the USA how could you be able to know this? LOL

As always every country's armed forces is ready not just the USA.

China wants to know your location lmao

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Quote from: Juggy777 on July 26, 2020, 05:57:08 AM

I don’t know about you’ll but it’s been many year’s since I last heard, that Europe’s economy was moving faster than US economy, but thanks to Covid-19 times have changed and Europe’s economy is speeding ahead. Further if US doesn’t stop the spread of Covid, and reopen soon then they may find their economy lagging behind Europe for a long period of time. Lastly what kind of impact will this have for the world?, as we have always looked up to US and it’s $, so do you’ll believe that Europe’s € can make a comeback and replace the $ in the long run?.

Quote

The euro area economy is for once set for a sprightlier recovery from crisis than the U.S., thanks to starkly different responses to the coronavirus. America’s failure to get a grip on the pandemic is putting the brakes on its rebound compared with Europe, where many former virus hot spots managed to resume economic activity without causing a similar surge in infections.

Source:

https://www.bloombergquint.com/global-economics/europe-s-economy-set-to-outpace-u-s-in-upending-of-past-roles

1. The breakthrough was actually the successful completion of COVID-19 vaccine from Oxford university, the scientists alone became millionaires , now due to the production of vaccine , they will be able to earn a lot through other countries.

- There have also been reports of China stealing data of Europe and US regarding the vaccination and treatment of the virus .

2. US failed in handling the Corona virus , I do think the economy they are showing right now is like a bubble which will burst very soon , the volume is fake and local businesses are failing , they cannot even control and listen to the demand of the people . Upcoming elections probably will see a upturn .

https://www.bbc.com/news/uk-53469839
-News when the vaccination triggered response
(P.S. even though the vaccination have side effects and can be dangerous it's still a very big breakthrough and we can soon see it being demanded by a lot of countries soon )

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As I heard, these two countries are helping to each other. Just like they had a commitment to fundamental democratic principles, they should also be shared about the improvement of their GDP. I don't see that Europe will replace or even overtaking the US economy despite their difficulties of facing the problem due to the pandemic.

In terms of landmass, these two countries were almost the same size but the more population in the US which I think, economy recover isn't impossible for them even though they are facing struggles and problems right now.

Topic: Europe’s economy is moving faster than US economy - Covid-19 effect!!! - page 2. (Read 524 times)