Chinese Economic Collapse

[James48843]

Remember- the USA is about 2 1/2 months behind China.

We are seeing the first impact in USA economic disaster last week, and we are about a month away from the furst hard economic data here starting to show up.

 

[James48843]

Coronavirus: China’s economy suffers dramatic collapse in January,
February in warning to rest of world

South China Morning Post


The coronavirus’ impact on China’s economy was made plain in new numbers released on Monday, which showed a dramatic collapse across the board.

Amid a widespread shutdown of manufacturing operations, industrial production – a measure of manufacturing, mining and utilities activity –
declined by 13.5 per cent over the first two months of the year, combined data for January and February showed.

This was the first decline on record, although ordinarily the data is released monthly.
But the numbers were well below expectations of a 3.0 per cent decline.

Retail sales, a key metric of consumption in the world’s second largest economy, fell by 20.5 per cent,
again the first decline on record. This was well below the median forecast of a group of analysts,
conducted by Bloomberg, which predicted a 4.0 per cent contraction.

More:
https://www.scmp.com/economy/china-...used-dramatic-collapse-chinas-economy-warning



(this is HUGE- Never has China had a negative GDP since the days of Mao. )