Economic data; More cases outside China now…

I do not even know where to begin, I just hope all of you are safe. It is a tough day to do anything but hide somewhere in a fetal position, and it is hard to get a newsletter out on schedule when you are doing that… The January-February PRC economic data released Monday gives us a better idea of the depth of the slowdown, and it is ugly. And in spite of the slow resumption of economic activity now underway inside China the sudden shutdown of much of the rest of the global economy is going to cause the PRC leadership massive headaches, from further economic, employment and social stability pressures within China to increased opprobrium globally against Xi and the CCP for covering up the outbreak in the early days and sharing responsibility for what may turn out to be the biggest economic shock in decades.

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