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Brazil’s president tested positive for Covid-19. But Jair Bolsonaro still doesn’t see the need for shutdowns or social distancing. Meanwhile, as the US nears 3 million cases and Europe surpasses 200,000 deaths, the Trump administration is officially withdrawing from the WHO—which it funds to the tune of around $450 million per year—and plowing a similar sum into a new treatment. Elsewhere: Dubai reopened, Melbourne shut down again, Bali is praying over it, Russia dug a trench, and Honolulu isn’t sure what to do.
The US revealed which companies received coronavirus aid. The businesses that took advantage of the Paycheck Protection Program include the US units of Chinese companies like HNA Group, art galleries and museums, Kanye West’s apparel brand Yeezy, and the Ayn Rand Institute. Officials claimed the program saved 51.1 million jobs with banks looking at up to $24 billion in loan processing fees for their troubles.
There’s still turbulence in the airline industry. The 10 largest US airlines finally agreed to the terms for $25 billion in government loans and United Airlines announced plans to restart flights to China. Qatar Airways is requiring masks and face shields for non-business class passengers, and American Airlines claims frequent flyers gamed the system by signing their pets up for rewards credit cards.
The FBI accused China of stealing Americans’ data. In a speech, FBI director Christopher Wray said, “If you are an American adult, it is more likely than not that China has stolen your personal data.” He also said the country steals US military and trade secrets and outlined how it goes after China-born critics living abroad.
The UK lays out plans for reviving the economy. The chancellor of the exchequer will announce new policy initiatives amounting to a “mini-budget” on Wednesday. Meanwhile, the House of Lords is trying to thwart Huawei on human rights grounds, as the company warns that the UK risks ruining its relationship with China.
Is the clock ticking for TikTok?
TikTok, owned by Chinese social media giant ByteDance, announced that it will pull out of Hong Kong after Beijing imposed a new national security law that is bringing Chinese-style internet censorship to the city. The new law also prompted a number of US tech giants to say they would suspend acting on requests from Hong Kong for user information.
Despite the move from TikTok to distance itself from Beijing, US secretary of state Mike Pompeo said on Tuesday that the US was looking at joining India in banning the app, comments that boosted shares of Snapchat maker Snap Inc.
TikTok is also under scrutiny closer to home in Australia, where lawmakers have also called for banning the app over data privacy concerns. Later today, Canberra will also debate proposals for special immigration access for Hong Kongers looking to flee the city in what one observer called “the greatest human capital harvest in recent memory.”
Charting the price of gold in India
As India’s gross domestic product is set to shrink for the first time in 40 years and its shadow banking industry is going through one of its worst-ever crises, the price of gold in the country has reached an all-time high (✦ Quartz member exclusive). This means a big upside for companies that take gold as collateral for loans.
For Members: Mental health’s turning point
Experts are calling attention to a potentially massive influx of mental health patients due to the pandemic. This week’s field guide examines mental health’s turning point. Here’s what you need to know:
😶 It’s a hidden crisis. People may not be seeking treatment due to social stigmas as well as fear of contracting Covid-19.
☎ Teletherapy is here to stay. US public telehealth services usage has exploded a hundredfold during the pandemic.
🌍 Africa’s medical professionals understand trauma. But this pandemic is raising mental health issues in ways that people in power are finding hard to ignore.
⚖️ There are stark inequities for essential workers. Treatment is needed, but so is preventing people from reaching a breaking point in the first place.
✦ To wrap your head around the Covid-19 mental health crisis, try Quartz membership with a seven-day free trial. ✦
You Asked about healthcare spending
Since healthcare costs are one of the main contributors to the national debt, will the cost for treatment of the coronavirus bring about the next economic collapse? —Susan
You’ve done a great job of tapping into multiple major debates with a single query. First, the once-common belief that a high national debt should concern a country like the United States is increasingly under fire from economists advancing Modern Monetary Theory.
But for argument’s sake, let’s say a high national debt could bring about the next economic collapse, as you put it. Look at the numbers. The current US national debt is over $26 trillion, and while Congress has approved roughly $3 trillion of coronavirus-related spending, only around $350 billion was earmarked for public health and testing per a tally from National Public Radio.
And while that number is still just a quarter of an anticipated $1.25 trillion overall bill for US healthcare spending due to Covid-19, the alternative to spending for treatment now is a weaker economy—and one with fewer people in it—down the road.
Surprising discoveries
Please stop microwaving library books. It’s not an effective way to sanitize them—and you might start a fire.
Hundreds of Botswana’s elephants probably suddenly died of natural causes. Scientists have ruled out poachers, frustrated locals, and poisoning, but more investigation is needed.
Poisons are being used to beautify food in African markets. Sellers of meat, fish, and produce use chemicals to deceive buyers.
Futuristic fabrics promise to keep you cool and Covid-free. Try a wearable air conditioner or an antimicrobial textile.
Bottega Veneta’s Shanghai pop-up is “invisible.” It’s a reflection of the retail scene.
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