China warns that v-shaped recovery is not coming

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Via Bloomie:

Relax, eat out and shop. That’s the latest message from the Chinese government to its people, after months of warning them to stay indoors because of the coronavirus.

In a bid to jump start consumption that all but disappeared during the outbreak, authorities in some places are distributing vouchers, asking companies to give people paid time off and offering subsidies on larger purchases like cars. Domestic media are playing up stories of officials venturing out to enjoy local delights like bubble tea, hot pot and pork buns.

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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.