China
Grinds to a Halt as
Coronavirus Death Toll Tops
1,000
Medieval Times Checks
The New York Times reports ‘Like Europe in Medieval Times’: Virus Slows China’s Economy.
More than two weeks after China locked down a major city to stop a dangerous viral outbreak, one of the world’s largest economies remains largely idle. “It’s like Europe in medieval times,” said Jörg Wuttke, the president of the European Chamber of Commerce in China, “where each city has its checks and crosschecks.”It is becoming increasingly clear that restarting China — the world’s largest manufacturer and a titan of global trade — would be difficult even if the country made major strides in the next few days toward containing the outbreak.On Monday, Nissan of Japan said it would shut down its plant in Kyushu, Japan, for four days beginning later this week “due to supply shortages of parts from China.” Other carmakers, like FCA in Italy and Hyundai in South Korea, have already warned that a lack of parts from China could force them to curtail production in their home markets.The local authorities are taking a tough stance with traffic, meaning workers are struggling to return to their jobs. Many towns and cities have begun imposing two-week mandatory quarantines on arriving truck drivers who picked up cargos in cities with disease outbreaks or even just drove through these areas.Even factories with enough workers are running into further problems. The packaging industry is almost shut down, so everything from plastic packing to steel drums is running out, Mr. Wuttke said.
Steps to Nowhere
The municipal government in Shanghai, home to more than 20 million people and a vast array of businesses, said only 70 percent of the city’s manufacturers were taking steps to resume production. Few have actually received permission to do so.
Mother May I? No, You May Not.
Coronavirus Death Toll Surpasses 1,000 in Mainland China
Global numbers: 43,105 confirmed cases; 1,018 deaths
Japan: Two Japanese citizens who had initially tested negative for coronavirus have now been diagnosed with the disease. Japan now has confirmed 163 cases.
Vietnam: Vietnam confirms two more coronavirus cases, including a 3-month-old baby
Thailand: Thailand confirms a new coronavirus case, as its government says the Westerdam ship won't be allowed to dock there.
Singapore: 2-year-old girl among new coronavirus cases confirmed in Singapore
Heads Roll: Heads roll in Hubei over coronavirus outbreak. Two senior officials of the Health Commission in Hubei province, the epicenter of the novel coronavirus outbreak, were fired on Tuesday, Chinese state broadcaster CCTV reported.
The coronavirus threatens the Chinese Communist Party’s grip on power
Contained?
Meanwhile, the Wuhan Crematory is Operating at 4-5 Time the Normal Rate as China suppresses the real facts and figures.
Bad news is good news and worse news is even better news.
This is why stocks, bonds, gold, and deaths are all up today
Mike "Mish" Shedlock
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