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moorookamick

23,085 Posts.

769

17/02/20

18:54

Post #: 42981159
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Originally posted by kingpins: ↑

Most of the attention appears to be about the Virus and if how badly the rest of the world will be affected

If we consider that large manufacturing area's of China are now closed, shut down, hundreds of thousands of Chinese workers are not working, thousands of Chinese business are shut down, the authorities are spending most of their time in combating the virus what of the powerhouse of the Chinese economy now ?

There is a minimum of movement of anything within China and great restrictions outside of China

China like the rest of the world had serious economic problems before the Virus !

Australia's income is directly worth 30% of our China trade and as the rest of it is reliant in some way to China you could make the assumption that our income has been cut by 60%

How long will this emergency last and how long will it take to recover (health wise) ?

Forget the US and the rest of the world can Australia survive (economically) as we already have major problems with runaway prices and our second main income being Chinese buyers for our real estate

IMHO if the sleepy politicians don't pull their fingers out and start to act in a positive manner we are in for some very hard times

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When China stimulated its economy in 2009-10 it bailed us out of recession.
The Chinese Governmentwill likely throw half a trillion at its economy to
counter the virus & Trump tariffs and thet will mean more iron ore, coal
& LNG exports for us.(Play it again, Xi !)
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