LIVE FROM HONG KONG: China in Horrible Situation as Coronavirus Spreads, Major Financial Issues Loom and Hong Kong Protests Kick Off Again
Live from Hong Kong
China is in a horrible position right now. The coronavirus is literally killing its people and its economy and the Hong Kong protests started up again.
The coronavirus is spreading with more people affected and more deaths. The tactics of local officials in China are leaking out and they are scary:
China is spreading some sort of chemical in the streets of Wuhan:
— CoronaVirus Updates🦠 (@COVID19Update) February 6, 2020
The death count is rising:
BREAKING: The coronavirus is now deadlier than SARS. The death toll has risen to more than 800 in about two months. https://t.co/AVbmxtvX9M
— Bloomberg (@business) February 8, 2020
What’s not being shared is the financial impact the virus is having on China and Hong Kong.
In China there are many small shops where individuals run businesses and sales rely on street goers that walk in to these shops. These shops are now closed. The streets are empty.
China already has some major financial issues as we have shared for months. Its GDP is half of the US’ GDP now. Its banks face solvency issues and its localities have billions in off balance sheet assets that are underwater. China cannot afford this virus.
Now, on top of that, the Hong Kong protests are back.
During Sai Kung Anti Quarantine Camp Protest, a man was violently subdued by #HKPolice. Riot police beat the man w/ batons, leaving the man on the ground with a pool of blood at his head.
— #SOSHK Fight for Hong Kong (@Fight4HongKong) February 9, 2020