Outbreak coming under control; Rumors Xi may visit Wuhan; Gratitude education mess; Xi says no respite in war on poverty
Sorry for the late newsletter, but the market crash made it hard to focus.
The outlook inside China continues to improve, with new confirmed cases according to the official data at the lowest level since January 20. There are also more signs that economic activity is slowly increasing.
However, the spread of the virus from its origin in China to the rest of the world risks making any economic recovery in China even more difficult and attenuated. While the propaganda organs may have a field day with incompetence and mismanagement in other major countries, the possibility of significant shutdowns across major swathes of leading economic powers is increasing.
We might be heading into first global recession caused by CCP mismanagement. Previous manmade disasters in China since 1949 never really spread outside the PRC’s borders in meaningful ways. This time looks to be different, and being the proximate cause of a global recession may not be helpful to the PRC’s global image and aspirations…