The 'lungs of China' are infected. So far, the coronavirus has left tier-one cities largely unscathed. Everyone is wondering if that will hold.
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the OK to return to work last week, many people are staying home out of fears of coming down with the deadly Wuhan pneumonia. Beijing and Shanghai have under 1,000 reported cases and only four deaths, based on data compiled by Johns Hopkins University. Their data is sourced from the World Health Organization, the U.S. Center for Disease Control, the European Center for Disease Control and two China health agencies. China is the main source of the numbers.
There is no vaccine for Covid-19 yet, so those who have it are being treated with a variety of anti-viral medications and have to wait for the virus to work its way out of the body.Barclays Capital analysts released a 20-page report on the coronavirus on Friday where they said they were pushing out the recovery period, and think Japan heads into a technical recession because of it.... [+]
Weaker China tourism and a decrease in trade with China is a huge headwind for Japan. For Barclays, the probability of a recession there has surged to 69%.... [+]Barcroft Media via Getty ImagesBarclays’ China view is basically Wall Street consensus: so long as the virus stays concentrated in Hubei, they are going to trust China keeps it that way.
Xi Jinping last week called for even tighter restrictions on Hubei, and put two new Party bosses in charge to make sure the clampdown is enforced.“We think these efforts showed the urgency and determination of the government to stabilize the epicenter as soon as possible,” says Eric Zhu, an economist with Barclays in Hong Kong. “We expect incremental improvements,” he says.
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