China have gone back because they need to ramp up production to shore up a significant hole in their GDP - problem is, there won't be any customers looking to buy the supply needed (other than medical) and they will run into further corporate debt issues (cost of production not supported by sales of goods) which has been financed on the back of low interest rates and the USD, which is currently in high demand globally, i.e., safe haven hedge but also because most debt is written in USD. There is a $USD13 Trillion dollar open corporate debt position needing to be serviced.
This scenario forces the regime to prematurely push the population back into a environment which could cause a larger secondary impact (not that I believe their published stats). If you check the chinese travel data during the week vs the weekend, you can see the governments push for production increase during the week, that is increased movement, and the inverse behaviour by the locals due to their percieved risks during the weekends.
Many unknown additional catalysts hiding in the woodpile that can lead to market confidence psychological ramifications.
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