"Global economic conditions are really starting to deteriorate quite rapidly.
Economists were projecting that Japan’s GDP would shrink by 3.8 percent on an annualized basis in the fourth quarter, but instead it greatly surpassed expectations by plunging 6.3 percent.
...But of course the outlook for China is even worse.
At this point, economic activity in China has come to a standstill, and this has thrown global supply chains into a state of chaos.
It certainly appears that the entire global economy will shrink during the first quarter, and that will be the very first time that has happened in more than a decade.
And if this coronavirus outbreak continues to intensify in the months ahead, the economic consequences are going to be absolutely catastrophic.
Even though the experts were anticipating a slowdown in Japan, nobody had any idea that it would be this bad…"
Economists were projecting that Japan’s GDP would shrink by 3.8 percent on an annualized basis in the fourth quarter, but instead it greatly surpassed expectations by plunging 6.3 percent. ...But of course the outlook for China is even worse.
At this point, economic activity in China has come to a standstill, and this has thrown global supply chains into a state of chaos.
It certainly appears that the entire global economy will shrink during the first quarter, and that will be the very first time that has happened in more than a decade.
And if this coronavirus outbreak continues to intensify in the months ahead, the economic consequences are going to be absolutely catastrophic.
Even though the experts were anticipating a slowdown in Japan, nobody had any idea that it would be this bad…"
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