For the first time Wuhan and the surrounding area reported a single-day death toll that exceeded 100, now the total deaths from the virus has surpassed1,000 and more than 43,000 people have been infected, and the virus now has a new name nCoV (2019-nCoV).
After two weeks of intense negotiations and great hesitation China reluctantly allowed WHO experts to enter the area, President Xi is a control freak, he is afraid of losing control, and for the first time in a long time, the Communist regime has been openly criticized by the citizens for its handling of the epidemic, Chinese people on social media are very restricted and monitored but they are defying and openly criticizing the government, you don’t have the freedom of expression in China and any comments that are critical of the government are quickly deleted and people could get in a lot of trouble, as you may know from our reporting that the brutal communist regime ridiculed and reprimanded the Wuhan Doctor who blew the whistle, and the doctor, unfortunately, died while treating his patients, its sounds crazy but that’s how the communists operate, many high ranking Wuhan health officials and Provincial Health Officials have been arbitrarily fired from their jobs to save face, and most importantly, to prevent public demonstration of grief and anger.
Some workers have returned to work after extended lunar holidays, however, employers are encouraging staff to work from home but it’s pretty hard to bring factories to home, so the manufacturing sector, transport, restaurant and retail sectors are hit very hard. There is no cure are specific medications available for 2019-nCoV, many laboratories and big global pharmaceutical companies are developing vaccine for 2019-nCoV.
The Chinese GDP for the first time in 5 decades may shrink by up to 1.5%, and the consequences are devastating to many smaller and medium sized businesses which were already under strain, we expect huge uptick in bankruptcies and defaults on bank loans and bonds. We will have a clearer and better view in the next couple days when the Chinese government and more importantly, WHO, which is now on the ground, expected to report Chinese and Global death and infection data.
Editor Daily Stock Deals
Source: WHO, OxBridge Research, Daily Stock Deals
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