{"id":4982,"date":"2022-04-05T14:14:54","date_gmt":"2022-04-05T14:14:54","guid":{"rendered":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/?p=4982"},"modified":"2022-04-05T14:14:54","modified_gmt":"2022-04-05T14:14:54","slug":"asia-faces-three-big-economic-shocks-war-in-ukraine-china-and-the-fed","status":"publish","type":"post","link":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/2022\/04\/05\/asia-faces-three-big-economic-shocks-war-in-ukraine-china-and-the-fed\/","title":{"rendered":"Asia faces three big economic shocks: War in Ukraine, China and the Fed"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.cnn.com\/2022\/04\/05\/economy\/asian-economies-world-bank-intl-hnk\/index.html\">https:\/\/www.cnn.com\/2022\/04\/05\/economy\/asian-economies-world-bank-intl-hnk\/index.html<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On Tuesday, the World Bank said that countries in Asia may have to deal with three major economic shocks this year. The 3 biggest impacts come from the ongoing war in Ukraine, The sharp slowdown of China mostly due to the pandemic, and rate hikes from the U.S. Federal Reserve. The growth forecast for East Asia and the Pacific fell .4% percent. If these condition worsen further, more than 6 million people will be left in poverty. China is experiencing its worst spike in Covid-19 cases since the original outbreak in Wuhan in 2020. This has led to strict lockdowns in major cities.The lockdowns have caused shops and restaurants to be closed,\u00a0factories to be shut, and ports to become\u00a0congested with ships. The war in Ukraine is also disrupting its supply chains leading to more Chinese financial stress.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I think this article is important because it shows the global reliance that we have on eachother. It wasnt until modern times that a  conflict thousands of miles away could directly affect someone on the opposite side of the world. The pandemic is also slowing down efforts to maintain Chinas current economy. Taking hits from a pandemic (shops and restaurants closed), to the supply chain issues of the Ukrainian war, to the new hikes from the U.S. Federal Reserve. New Federal Reserve projections show six more rate hikes this year. The Federal Open Markets Committee expects the Fed Funds rate to be 1.9% at the end of the year.\u00a0Roughly seven total hikes in 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This relates to International Relations class because of the interdependence examples. China and Russia are allies and its said that China has been helping Russia in the current conflict. When one country gets into a conflict, its allies tend to take a hit aswell. The new rise in covid numbers in China are also an example of this interdependence. This past winter the United States we experienced a hike in covid numbers. The ease of global travel may have been the culprit of bringing the cases from the United States back to China.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>https:\/\/www.cnn.com\/2022\/04\/05\/economy\/asian-economies-world-bank-intl-hnk\/index.html On Tuesday, the World Bank said that countries in Asia may have to deal with three major economic shocks this year. The 3 biggest impacts come from the ongoing war in Ukraine, The sharp slowdown of China mostly due to the pandemic, and rate hikes from the U.S. Federal Reserve. The growth forecast for East Asia and the Pacific&#8230; <a href=\"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/2022\/04\/05\/asia-faces-three-big-economic-shocks-war-in-ukraine-china-and-the-fed\/\">Read more &raquo;<\/a><\/p>\n","protected":false},"author":214,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4982","post","type-post","status-publish","format-standard","hentry","category-analysis-post"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/4982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/users\/214"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/comments?post=4982"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/4982\/revisions"}],"predecessor-version":[{"id":4983,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/4982\/revisions\/4983"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/media?parent=4982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/categories?post=4982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/tags?post=4982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}