Originally Posted by
EXPAT1
You don’t get it. It’s not that it directly takes a foothold, it is the strangulation going on in the Asian economies and perception of a threat. If you aren’t over here right now, you have no ability to gauge the extent of it. Airlines flying around empty. People wearing masks, in most of Asia, especially the Chinese ancestry. Shops closed, streets empty, restaurants and bars have a much decreased business clientele. This is just beginning to have a direct Asian impact outside of China but when all the automakers and electronics and household goods manufacturers realise their Chinese made parts are no longer coming, ships are bypassing China and the coronavirus is still killing a 100+ per day it is having a Global impact. Apple just announced huge revenue shortfalls, wait until the rest of these International behemoths finally spill their beans.
SOOO well said. I am shocked at the amount of people who just don't get this.
Lets look just at the auto manufacturing you cite. China produces 9 times the amount of its closest competitor India in steel. China produced something like 928 million metric tons of steel in 2019. India produced a little over 100 million metric tons. My understanding is that has all come to a complete stop. What is that going to do to auto manufactures, or airplane manufacturers.
And that death toll? Utter poppycock! No one can get into a hospital in some of the larger Chinese provinces. So while they claim today there are only 1700 or so deaths, those are what is known. There is over 500 million in quarantine at home. The Chinese have put piles of dirt outside of some of these quarantine buildings to keep people from getting out. How is that going to impact the worker base in China? There could be 10s of thousands dead for all we know since we have no way to account for those locked in high rise buildings that they can't get out of. Some of those could have died from starvation at this point. What is that loss of worker base going to do to the economy's of the world? No one trained to build electronics like the apple Iphone or other China based cell phone manufacturers.
How about our debt to China? Their economy is trashed. Lots of people lost money in the China stock market. Those people are going to be looking to recover debts quickly to make up the losses. Not sure how they do that but with all that we owe China, it's going to impact our roaring economy. There are going to be job losses here in the states without the Chinese engine that drives our economy.
So when those products are not being produced any more, we see a rise in costs in what is available. When that runs out we see people being put out of work (why have a sales person when you have nothing to sell, or a pilot when no one wants to fly). So then that impacts our economy here in the states. Huge crash in our economy. Human sacrifice, dogs and cats living together (unless they are in China, den dey dinner), mass hysteria!
This has the potential to be bad all around.