China has a similar way of keeping their market artificially propped up as the USA.
In the US the "Federal" Reserve print billions of dollars to keep the DOW up and give the masses the mushroom treatment with the fundamentals and some statisticians that matter.
China does the same except they use the yuan and fake the figures of the Coronavirus
“Ring-a-ring o' roses / A pocket full of posies / A-tishoo! A-tishoo! / We all fall down.”
Some folk attribute this old nursery rhyme to the plague in England of 1665. But it seems singularly appropriate for coronavirus or COVID-19, about which, as yet, we know little. Its origin is, allegedly, a mutation of a virus from a snake, bat or pangolin. Alternatively, one school of thought believes it escaped from a biological warfare laboratory in Hunan. At the time of writing, officially, the ratio of reported deaths to reported recovered is about 23%, which has been declining as time progresses.[i] While the fatality rate is expected by Western analysts to level out at about 3.5-4% of those infected, its spread is probably much more serious than admitted, with the Chinese being accused of playing the crisis down. To be fair, it will have been hard for the authorities to keep up with its rapid spread. Coming during the Chinese New Year holiday when most factories have closed anyway, there is some confusion about the economic impact. Officially, the public holiday ended on 30 January, but nearly all factories were still closed a week later, and their reopening will be gradual at best.
Not only do Chinese factories supply the world with consumer goods, but they are integral to global supply chains. Hyundai in South Korea has already been forced to close all its factories due to lack of Chinese components and other car makers around the world have expressed similar difficulties. For all intents and purposes, China is shut, and therefore its economy is not functioning. And the longer this goes on it is increasingly difficult to see when, if ever, past normality will return.
talking about the mortality rate it seems the serious infections those that survive the virus and twice as likely to die from a different illness caused by the weakened body system ( since the virus tends to hit older people harder , that should not be a major surprise )
but the new measurement system in China hints the infection rate soon outpaces the doctors' ability to test new suspected cases
SOoooooo if they can't even tell accurately who is affected but NOT seriously ill in a timely manner
... maybe they can convert airport security X-Rays systems and just walk them through ( and check the suspicious ones closer later )
Hmm. For the last fortnight, Chinese who feel ill - have been staying away from the hospitals - even assuming they can leave their apartment without being grabbed by the SS and tossed into large circus tents to die (of pneumonia). They stay away from the hospitals because they know now - the system is so muddled people go there to die. Hospitals there are useless, even assuming you could get into one. A hospital at best - just gives you a bed to say goodbye to the world. But you might wind up doing that from the floor.
What stuns me even more than the Chinese Government incompetence. The incompetence of Australian (and world-wide) stock investors. When this virus hits India, Africa, South and Central America, the Middle East - and it will. Like a lot of, perhaps the majority, of market analysts - I am puzzled why markets go up in the sheer face of economic disaster. I feel confident that at least 80% of the ASX 200 will see profits dive, or for many - even vanish, THIS financial year. Nothing holding up these current prices except a distinct departure from reality. Those making money good on them. But most of those making money are corporations who do it for a living. I have seen a recent graph somewhere, I think it was CNBC. Showing the swift decline of corporate/sophisticated investors buying vs retail (mom/dad/TS/HC types). That was in the US and it showed smart money selling - very likely pumping the market in waves of distributions - while the dumb retail 'investors' buy. What can you say.
the suspicion is Central Banks are buying up selected stocks ( in the developed world )
having been on 'death watch ' ( not just the standard ICU ) in an Australian Hospital with an illness the hospital hadn't encountered before , i find it hard to be excessively critical of the Chinese efforts ( i had a Uni. professor two top private practice specialists and was 'must see' for the medical students tour for the 3 weeks i was a patient ... and of course , the usual hospital staff )
so say Wuhan was hit with 100 cases in the first 2 weeks and i could see how the system would be stressed , and quickly over-whelmed
i was on a barrage of blood tests every 3 hours , lung function tests ( every 6 hours ) etc. etc.
and when discharged they STILL couldn't tell what it was ( but hopefully not contagious i was working in a popular disco/night club at the time , but nobody thought to ask where i worked )
( imo ) the Australian economy is screwed if China can't wind up to 100% normal production by this time next month ( and that is assuming the virus mostly bypasses Australia )
Point taken salvation, but I think you might be over-thinking. This virus was from a Chinese lab - in Wuhan. China had multiple laboratory virus leaks during the SARS crisis- mostly incompetence - and generally thru staff negligence. Don't let CCP videos convince you of anything - their virus research program got away from them (the US and others have been well aware of their flouting of this international agreement amongst so many others). No, Trump knows. He has offered to help, while trying hard not to cartwheel and giggle at the same time. Israel knows, and has thru media back channels said so - Israel never gets it wrong. The Chinese let this thing loose accidentally - spent a month trying to cover it up, spent a fortnight blaming a market they planted it in...etc. Zero credibility. China is economic toast. SEA, particularly Vietnam will be taking over.
one suggestion was it was stolen from a Canadian institution , and the Chinese were 'researching it '
however if they were ' researching it ' you would think that they would have had a better understanding of it
( you should see what i do to a computer on the first day of bringing it home , i would expect a typical Chinese nerd to be at least as curious as i am )
international conventions ??
isn't that when they have chicken sandwiches and vintage champagne at some fancy hall
, nobody followed conventions even when the League of Nations was formed ( just the Germans bent the rules better than everyone else )
"I am puzzled why markets go up in the sheer face of economic disaster."
Not quite so puzzling when you consider the "Federal" Reserve continually keeps them propped up with their QEs and any other name they choose to give them.
If this coronavirus situation looks like effecting the US markets more than they thought, then Powell will throw a few more billion into the markets to "fix" things even though they are overbought and making new ATHs. They have had many years of experience with this and other means of artificially keeping markets from facing reality. One look at the very long term charts proves this.
Other country's Reserve banks do this but it's more obvious with the US Fed.
People like Peter Schiff, Gerald Celenty and others with their predictions of market crashes have got their reasons right for predicting a crash but apparently they underestimate the extent of manipulation there is involved.
1576 deaths/ 8279 recoveries that is a 18% mortality rate vs 1 % for influenza, now shown to be airborne. China Is Disintegrating: Steel Demand, Property Sales, Traffic All Approaching Zero,
High probability that China's GDP in Q1 will not only flatline, but crater deep in the red for one simple reason: there is no economic activity taking place whatsoever.
Buy Zno if you want exposure to the virus
COVID-19: Singapore health minister on economic impact of recommended 5-day MCs
Singapore looks like the place to watch
they SEEM to have chance of controlling it
( seems to be getting 9 new cases a day , so far )
if Singapore has to resort to closing businesses for 2 weeks ( or more ) that might bite Australia as well
i am betting you can still fly to Australia from Singapore
Singapore is a real worry. Most are from a church. Today was the first day there hasn't been increased cases. I see Singapore exploding soon. Worry is Australia and Singapore gave close ties.
On the flip side if Singapore can control the virus, from where it is now. That's a blue print for the rest of the world