The holiday is over, but few people are back in offices and factories…the effects of covid-19 will be like those of SARS in 2003: a sharp shock to Chinese growth, followed by a strong rebound. But SARS may not be a reliable guide. China’s economy accounts for 16% of GDP today, up from just 4% then. It has become enmeshed in supply chains of mind-boggling complexity, and just-in-time production leaves little room for delays. – Economist
That Was Then, This Is Now
Hat Tip: Mike Bird @Birdyword
Run to our post, The Global Supply & Demand Shock Of The Coronavirus, which we wrote waaaaaaaay before the MSM jumped on this story.