China was in recession/depression before shutting down their entire economy for almost 2 months and have barely recovered. They suffered a supply shock. And now because the entire worlds demand has declined, China is now suffering from demand shock. And foreign manufacturers are now FLEEING which adds to massive loss of permanent jobs. That’s on top of a debt overload and they don’t control the worlds main currency
Japan and Germany were close to recession before the virus hit. Plus they are mainly exporters. Plus automobile is their big export...which now the demand has collapsed around the world.
Do you have a source about the claim that manufacturing leaving china? I could find US companies leaving the country because US policies — not covid-19.
China was in recession/depression before shutting down their entire economy for almost 2 months and have barely recovered. They suffered a supply shock. And now because the entire worlds demand has declined, China is now suffering from demand shock. And foreign manufacturers are now FLEEING which adds to massive loss of permanent jobs. That’s on top of a debt overload and they don’t control the worlds main currency
Japan and Germany were close to recession before the virus hit. Plus they are mainly exporters. Plus automobile is their big export...which now the demand has collapsed around the world.
US comparatively is safer.