Posted on 03/30/2020 7:38:45 AM PDT by Oldeconomybuyer
- China has reversed some efforts to reopen entertainment venues amid fears of second wave of infections, while exports are set to plunge.
- Tens of millions of jobs at risk, with one report saying 18 million jobs in exporting industries could be lost due to overseas demand slump.
China’s economic situation could get worse before it gets better, amid a second wave of demand shock that is set to hit both domestic and foreign trade, a Chinese government official has warned.
Addressing a press conference in Beijing on Monday, the day after President Xi Jinping toured businesses in Zhejiang province, vice-minister of industry and information technology Xin Guobin delivered a candid and downbeat assessment of the economy, in a subtle break from recent optimistic rhetoric about economic recovery.
“With the further spread of the international epidemic, China’s foreign trade situation may further deteriorate,” Xin said. “Overseas and domestic demand are both slumping, having a significant impact on some export-oriented companies. These companies might face a struggle to survive.”
In a report last week, chief China economist at Nomura, Lu Ting, estimated that there could be a 30 per cent contraction in exports over the next two quarters, which could lead to 18 million job losses out of a 60 million export-oriented workforce.
This is on top of a virtual standstill in many parts of China’s service sector, which has also put tens of millions of jobs on the line.
After bringing the domestic epidemic under control, China gave the green light earlier this month for over 600 cinemas, thousands of tourism attractions and half the country’s restaurants to reopen.
But in sudden U-turn last Friday, the National Film Bureau ordered all cinemas to shut down again, without explaining why or when they might hope to reopen.
(Excerpt) Read more at scmp.com ...
RE: China economy set to get worse before better, official warns, as export hit looms
That goes for every economy in the world including ours unfortunately.
Just like the rest of the world
Ebay has a filter to remove all China products. That should become the standard for internet commerce.
Screw China, like I give a flying shit what happens to them.
Their response to an internal China Virus and their hiding it from the world, and especially from us just total broke my ‘Give a Shit’ meter.
No it doesn't
I wonder how much the Dollar Tree and 99Cent Stores will suffer after all this is done. Most of what they sell is made in China. The Chinese know this is sh*t is all on them. I can’t wait the see the PR campaign they put on to try and attract business again!
I’d like to see the entire world get serious about boycotting Chinese goods. It would hit the inscrutable shysters right where it hurts most — the pocketbook.
On the left: Item location: US only
The Mortal Enemy of Mankind.
You can select for US, or North America or designate a radius by ZIP code, but you can’t exclude China or any other country or location.
Media will have an uphill battle trying to frame Trump as the world’s most hated man.
He is the mortal enemy of mankind.
And our media/dem party is on his side.
You’ll have to argue with my bride. I only order ZigZag products and tobacco. With her permission,of course.
and eBay makes it difficult to report counterfeit/knockoff goods. probably intentionally. when you click on “Report Item” you have to choose from their limited menu and items such as counterfeit automotive parts don’t really fit into any of them.
i had to laugh when i got a message from eBay warning me that i had violated a trademark in my listing by using the word “Chrysler” (i was selling a single set of floor mats). meanwhile there were other sellers selling the exact same item by the dozens. last time i looked those listings were still up.
Good, fuck’em!
Doesn’t mean it isn’t chicom stock already here and being sold.
Well China, that’s what happens when you drop a test tube in your bioweapons lab.
You should have initiated Operation Cauterize: Detonating a nuclear weapon in Wuhan, and claimed it was an accident.
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