How fast can China's economy bounce back from coronavirus lockdown?
BEIJING (BLOOMBERG) - The biggest question for the global economy right now is how quickly China can get back to anything like normal operations while it's battling the coronavirus outbreak that has killed almost 1,900 people and sickened tens of thousands.. Read more at straitstimes.com.
Human Movement About the same number of trips by planes, trains, automobiles and boats was taken in the run up to the Lunar New Year this year compared to last year, but the fall off since the first day of the Year of the Rat on Jan 25 has been stark. On average, there's only about 20 per cent as many trips being taken each day, meaning millions of people still haven't traveled back to work. And with long-distance buses only allowed to operate at 50 per cent capacity to reduce the risks of viral transmission, that backlog will take a long time to clear.
A survey of 109 American manufacturing companies in and around Shanghai showed that although almost 70 per cent were operating last week and more than 90 per cent expected to be back by this week, 78 per cent of firms said they didn't have sufficient staff to run a full production line.
Even if people do want to spend, many shops are shut, and online and offline retailers are facing logistical problems to supply customers. That situation may continue until the virus is contained, people are back at work and getting paid, and they feel confident to spend again.
Read more: The Straits Times
Not very soon the fastest
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