Trump Set to Cut $450M in Funding to the WHO

world-health-organisation-who-internet-bull-report

The Trump administration declared that the United States will cease its relationship with the World Health Organization citing its poor handling of the COVID-19 pandemic, supporting Beijing in the mishandling of the coronavirus outbreak, and even accusing it of creating the virus in a laboratory. 

The decision comes amid growing tensions between both America and China, as the former has accused its counterpart of ignoring reporting obligations and misleading the world

President Trump informed media representatives that the United States contributes over $450 million compared to China which provides less than one-tenth of the amount. He deemed it to be unfair and agreed to exit the World Health Organization. 

“China’s cover up of the Wuhan virus allowed the disease to spread all over the world, instigating a global pandemic that has caused more than 100,000 American lives, and over a million lives worldwide” – President Donald Trump.

However, Chinese news outlets have mentioned that the White House has no evidence that the virus originated from a laboratory and was released accidentally. In fact, they suggest that the President has been threatening China with these blatant lies to create further tensions. 

Democratic lawmakers in Congress have also accused the President of scapegoating the WHO to cover up the failures of the administration to combat the virus in the country. 

Rising tensions between both nations may put the American economy into jeopardy once again. After revoking Hong Kong’s preferential treatment, the Trump administration is likely to announce further sanctions and regulations on China and other individuals who are responsible for interfering with Hong Kong’s autonomy and the WHO. 

The Dow Jones, S&P 500 and Nasdaq all dipped by roughly half a percent as analysts alert investors on the growing uncertainty in the market

 

Nitya Bhatt

Equity Research Analyst

Nitya is currently studying business administration at the Schulich School of Business in Canada. During his undergraduate studies he worked in several business development, sales, and leadership roles. Nitya began investing in stocks at an early age which further grew his interest in finance and trading. He has written numerous articles related to economics and politics. However, when he is not busy writing or researching, he enjoys playing badminton competitively, reading science fiction, and hiking in the wilderness.

No Comments Yet

Comments are closed