Breakingviews - Chinese consumers imperil V-shaped virus rebound

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(Reuters Breakingviews) - Weak Chinese consumption may outlast the coronavirus. ...

A woman wearing a mask is seen in downtown Shanghai, China, as the country is hit by an outbreak of a new coronavirus, February 23, 2020. REUTERS/Aly Song

Official figures put new confirmed cases across mainland China at 648 on Saturday, up from 397 a day earlier, bringing the country’s total to nearly 77,000. That reverses a few days of decline. And despite worrisome spreads in other countries, new infections and deaths outside Hubei have been falling.

The optimism mirrors the SARS epidemic. The number of new cases peaked in China in February 2003 and in Hong Kong two months later. Between January and April, the MSCI Asia ex-Japan index fell 10%, and was followed by a 50% surge over the next seven months. Likewise, China’s real GDP growth slowed to 9.1% in the second quarter; by the third and fourth quarters, the pace reached 10% again.

Scepticism is warranted, though. Some scientists attribute the reduction in new cases to revised counting methods. And this weekend’s spike in infections across South Korea, Italy and elsewhere raise fresh questions about containment efforts, despite travel bans and quarantines.

 

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Huh?

what costumer first they need to make money they lost everything they dont have anything to spend

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