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1.Market Observations, 8.Was Sticky

7 Feb 2020 (TheAge,Telegraph) – Coronavirus grips global economy – The Black Swan that might finally sink the markets

(7 February 2020, The Age, Business, p29, )

‘The workshop of the world is closed. China is on a total-war footing. The Communist Party has evoked the “spirit of 1937” and mobilised all the instruments of its totalitarian surveillance system to fight both coronavirus, and the truth. Make GDP forecasts if you dare. As of this week two-thirds of the Chinese economy remains shut. More than 80pc of its manufacturing industry is closed, rising to 90pc for exporters.  The Chinese economy is 17pc of the world economy and deeply integrated into international supply chains. It was just 4.5pc of world GDP during the SARS epidemic 2003, which some like to use as a reassuring template. You cannot shut down China for long these days without shutting down the world. ‘

Read more at Telegraph.co.uk

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