China says ‘seriously concerned’ by US freeze of WHO funds
China said Wednesday it was “seriously concerned” about the US decision to suspend funding for the World Health Organization, and urged Washington to fulfill its obligations during the coronavirus crisis.
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President Donald Trump on Tuesday accused the Geneva-based body of putting political correctness above life-saving measures as he ordered the funding freeze for “mismanaging” the pandemic.
“China is seriously concerned about the US announcement to suspend funding for the World Health Organization,” Chinese foreign ministry spokesman Zhao Lijian told a regular press briefing.
“The current global epidemic situation is grim. It is at a critical moment. This US decision will weaken WHO’s capacities and undermine the international cooperation against the epidemic.”
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The roster of U.S. stocks that are positive for 2020 remains sparse, even after a nearly 25% rally for the S&P 500 in the last three weeks. The coronavirus outbreak and its economic implications have forced investors to re-evaluate their portfolios, and estimate the earnings hit to each of their companies.
Still, there have been some winning stocks this year. They tend to be companies with low debt, long-term growth potential, and not-outrageous valuations. If the pandemic lasts and stocks extend their bear market, there..
The US and China have been sparring over the deadly virus, which was first reported in China and has killed more than 125,000 worldwide.
Trump’s latest decision reflects his belief that the WHO has been biased towards China, colluding to prevent the US’ main economic rival from having to be open about the unfolding health crisis.
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“We urge the United States to earnestly fulfill their responsibilities and obligations, and support the WHO-led international action against the epidemic,” Zhao said, adding that the agency plays an “irreplaceable role” against the pandemic.