Uh oh. China reopens cinemas then shuts ’em

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Hmmm…via Hollywood Reporter:

Over the past two weeks, hundreds of movie theaters in the country had begun to reopen. No reason for the policy reversal was given, but insiders believe the government is worried about a potential second wave of coronavirus infections.

China’s film regulators has slammed the brakes on plans to gradually reopen the country’s cinemas.

Over 600 movie theaters across China were given the green light to reopen their doors over the past week, but Beijing’s Film Bureau put out a notice late Friday ordering all theaters to go back into shutdown.

No official explanation for the sudden reversal was provided. Industry insiders instantly began speculating that the government was worried about a potential second wave of coronavirus infections.

You don’t say:

There’s no v-shaped recovery coming.

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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.