Alibaba: COVID-19 “black swan event”

Friday 14 February 2020

This is worth sharing, from Zero Hedge:

Alibaba Group’s CEO Daniel Zhang warned Thursday that the Covid-19 outbreak in China is developing into a “black swan event” that could have severe consequences for China and the global economy.

Zhang told analysts during a conference call that the company’s fiscal third-quarter results beat expectations but warned of near-term impacts related to the deadly virus outbreak.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.