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IPFS News Link • China

"It Will Be Really, Really Bad": China Faces Financial Armageddon...

• https://www.zerohedge.com, by Tyler Durden

For the past two weeks, even as the market took delight in China's doctored and fabricated numbers showing the coronavirus spread was "slowing", we warned again and again that not only was this not the case (which recent data out of South Korea, Japan and now Italy has confirmed), but that for all its assertions to the contrary, China's workers simply refused to go back to work (even with FoxConn offering its workers extra bonuses just to return to the factory) and as a result the domestic economy had ground to a halt as we described in:

China Has Ground To A Halt: "On The Ground" Indicators Confirm Worst-Case Scenario

China Is Disintegrating: Steel Demand, Property Sales, Traffic All Approaching Zero

Terrifying Charts Show China's Economy Remains Completely Paralyzed

Unfortunately, it's not getting any better as the latest high frequency updates out of China demonstrate:

Also unfortunately, it is getting worse, because as we explained several weeks ago, China is now fighting against time to reboot its economy, and the longer the paralysis continues, the more dire the outcome for both China's banks and local companies. And since it is no longer just "scaremongering" by "conspiracy blogs", but rather conventional wisdom that China may implode, here is a summary of how the narrative that "it will all be over by mid-March" is dramatically changing.


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