Published On: Thu, Oct 29th, 2020

The exuberant resumption of the American economy

The latest figures published on Thursday, October 29, show that the announced American recovery has proven to be real and even better than expected.

The applications for unemployment, as chart published by the Department of Commerce shows that of the more than 6 million applications on March 28, these applications were decreasing until, terms less than 800,000 on October 24, more precisely 751,000 on this date.

They also reinforce the economic recovery, the results of increased consumption of goods and services, increased inventories, to meet growing demand, purchases of new homes, and investments in all areas of the economy.

Even with the decrease in government spending, the economy came out of a drop of 31.4%, the worst low since the depression of 1929, to a rapid recovery in the last quarter of 33.1%, annualized, recovering in practice, which had been lost due to all the evils caused by the pandemic.

US GDP

The chart below, provided by the U.S. Department of Commerce, shows the variations in GDP since the fourth quarter of 2017.

This increase was the largest in history since these indexes were published. With this the U.S. leads the economic recovery in the Western world.

China – the great benefited

China, which benefited the most from the pandemic, even though it had a loss in its GDP, which is still expected to be 5% positive, was the big winner. Only in masks she sold more to the world, more than the whole of Brazil exported in comodities such as meat and soy to this country. More than $40 billion, the cost of the pandemic, dominating, despite an early competition in the capitalist world, 57% of the world’s product market. 

If we include other essential products, such as gloves, respirators China exported about half of the market of $100 billion by July, which shows the success of major capitalists like George Soros to have invested in this area in China since last year, making their companies a commercial success with the pandemic.

Carlo Barbieri

About the Author

- My name is Carlo Barbieri, an entrepreneur, civic activist and a leader of many organizations associated with Brazil. A native of Brazil myself, I am currently the CEO of Oxford Group, a firm composed of many international consulting and trading companies. I am also a founding member of the Brazilian Business Group and founding member and Past President of the Brazil Club. In addition, I serve as a Board member of the Deerfield Chamber of Commerce. I have served as a member of the Florida Chamber of Commerce and the Florida Brazil Partnership. Past President of the Rotary Club – Boca Raton West for the 2014-2015 term, I have also been Vice President and Professor of 2Grow – Human Development. An Ambassador of Barry University in Brazil, I am the former President of the Black Fire Bull Steak House. I have also presided over a number of organizations such as the Brazilian Association of Trading Companies (ABECE), Brazil-China Chamber of Commerce in São Paulo, Brazil-Australia Chamber of Commerce, Brazil-Dominican Republican Chamber of Commerce; director of the Trade Center of the State of São Paulo, Brazilian Association of Freight Forwarders and Brazilian Association of Banks. I was also a local Council member for the Consulate General of Brazil in Miami, for the 2013-2017 term.

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