All 50 US States Resume Economic Activities... Aviation Industry Takes Flight

Stock Markets Rise Simultaneously

Trump "Considering Holding G7 Summit at the End of June"

▲On the 20th (local time), U.S. Vice President Mike Pence (front row, right), who visited Orlando, Florida, to observe the economic activities affected by the novel coronavirus disease (COVID-19), visited a restaurant with Ron DeSantis, Governor of Florida. With Connecticut declaring the reopening of its economy, all 50 states in the U.S. began economic reopening from this day. Vice President Pence sparked controversy again by not wearing a mask on this day. [Image source=Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min, Reporter Kwon Jae-hee] On the 25th (local time), ahead of the Memorial Day holiday, the entire United States eased economic activity restrictions implemented as a response to the novel coronavirus infection (COVID-19). Along with expectations that air travel demand will revive, optimism about economic recovery is gradually growing.

According to CNN and others on the 20th, with Connecticut's reopening, all 50 states in the U.S. have begun economic reopening. Connecticut announced a phased economic restart, allowing restaurants and retail stores to admit customers inside their premises. Alaska changed its partial reopening policy and announced it would fully reopen from the 22nd. Accordingly, bars, movie theaters, gyms, churches, and other venues can operate without capacity restrictions. Gatherings, festivals, and leisure and sports activities are also permitted. New York and California, the states most severely affected by COVID-19 in the U.S., have also started economic activities in some areas within feasible limits. On the same day, New York Governor Andrew Cuomo announced that church services with fewer than 10 people would be allowed. New Jersey is also permitting limited operations of non-essential retail stores. However, in major cities such as New York and Baltimore, retail store operations remain restricted. The Washington Post (WP), based on its own analysis, reported that four states?South Dakota, North Dakota, Missouri, and Wyoming?are implementing relaxed lockdowns similar to Alaska, but these four states plan to maintain their current reopening stages until Memorial Day.

Along with economic reopening, signs of revived air travel demand are emerging. The Wall Street Journal (WSJ) reported, citing U.S. airline industry sources, that new bookings have outpaced cancellations this month. The airline industry is busy preparing for an expected increase in domestic travel during the Memorial Day holiday. Scott Kirby, CEO of United Airlines, stated, "Without a COVID-19 vaccine, demand will not fully recover," but added, "Last week, United Airlines carried about 35,000 passengers daily, an increase from about 10,000 in mid-April, indicating a gradual recovery in demand."

The President and Vice President also showed encouraging reactions. Vice President Mike Pence visited Orlando, Florida, a major tourist city, held a meeting with the tourism industry, and was seen having lunch at a restaurant. Pence personally ordered at a hamburger shop and poured his own drink, but he sparked controversy by not wearing a mask during this process. President Donald Trump went further, stating on Twitter that he is considering holding the Group of Seven (G7) summit, which was switched to a virtual meeting due to COVID-19, in the U.S. as originally planned, mentioning Washington D.C. or the Camp David presidential retreat as possible venues. The Associated Press (AP), citing White House officials, reported that President Trump is seriously considering holding the G7 summit around the end of June. Regarding this, Trump claimed, "Together, we created the greatest economy in history. We will do it again and it will be better than before."

On this day, the U.S. stock markets rose simultaneously, reflecting expectations for economic reopening. The Dow Jones Industrial Average rose 1.52% to 24,575.90, the S&P 500 increased 1.67% to 2,971.61, and the Nasdaq rose 2.08% to 9,375.78 compared to the previous day.

This content was produced with the assistance of AI translation services.