CHINA IS BOUNCING BACK
China is slowly but surely going back to work, according to the Asian Times:
Statistics on Gaode’s “work resumption index” showed that “coastal export powerhouse provinces” in the southeast were taking tentative steps to return to normal, Trivium China, the research and policy advisory company, reported.The leading city was Dongguan in Guangdong province with a “work resumption” figure of around 49.5% while Wuhan, the epicenter of the coronavirus outbreak, was at the bottom of the table on 12.5%. . . .On Wednesday, Morgan Stanley, the multinational investment bank based in New York, released a media brief, stating that “72% of people who left tier 1 and tier 2 cities during the two weeks before Lunar New Year have already returned” to work.“Intra-city activity has also improved steadily, with traffic congestion and subway passenger traffic in large cities reaching 81% [and] 37%. . .of their respective comparable weekday levels last year,” Morgan Stanley said.
Here’s the key point:
Most of the companies we talk to are looking to hit at least 80% capacity in March, with full normalization at some point in April,” Trivium China stated. . . .
This may be an overly optimistic assessment, but there is little doubt that China is rebounding faster than one would have predicted a few weeks ago.
This is good news for the American economy and bad news for those Democrats hoping for a recession that will enable them to regain the White House.
The ball now is in America’s court, not China’s. It’s up to America — the administration, state and local officials, private associations, and citizens — to make decisions that will prevent our country from experiencing this epidemic on a massive scale.
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