Coronavirus: United Kingdom, facing worst recession on record, sees GDP drop 20.4% in Q2

The UK has seen its economy, hit by the coronavirus crisis, suffer a "record" contraction of 20.4% in the second quarter, and is officially facing its worst recession on record, agency figures show National Statistics (ONS), published Wednesday 12 August. 
Economists consider that a country enters a technical recession when it accumulates two consecutive quarters of contraction in its economy. According to the ONS, most of the contraction, which began to be felt in March, occurred in April, an entire month of containment and almost total cessation of activity in the country, which saw production collapsed by 20%.

With a very early recovery in construction sites and manufacturing activity, gross domestic product (GDP) rebounded in May by 2.4% (revised figure), followed by an acceleration in June (+8.7 %) thanks in particular to the reopening of all shops. This is the biggest contraction in the UK economy since the ONS began these quarterly statistics in 1955, he said…

Huawei risks losing contract to build UK 5G network

Huawei could ultimately not build the English 5G network, as had been agreed. The revision of the contract had indeed been triggered following American sanctions planned against the Chinese firm.

Huawei risks losing contract to build UK 5G network

If the Chinese giant is one of the world leaders in this technology, it suffers from the cooling of relations between Great Britain and China, against a background of economic war between the Middle Kingdom and part of the West. This excitement was exacerbated by the Coronavirus crisis, a part of the British and American political elite accusing in particular the Chinese executive of having taken too long to alert the world, on the real nature of the Covid-19.

If for some the suspension of Huawei's contract is only a matter of time, nothing official has been said yet. For his part, Boris Johnson tempers: "I remain a sinophile," he says, "I am not one of those who are instinctively hostile to China, far, very far from there." However, "I don't want our critical national infrastructure to be in any way controlled by potentially hostile suppliers of state. "And to conclude" So we have to think very carefully about how to proceed. "