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China to Lower 2020 Economic Growth Expectations On Coronavirus Outbreak

Consumption

It would be challenging for China to falsify 2020 GDP figures between 6% to 6.5% amid economic fallout from the coronavirus outbreak.

The Communist Party of China had come to grips of a decelerating economy, even before the deadly virus broke out. Officials blamed the slowdown on the trade war last year, and now they’re blaming it on the virus. Party leaders appear to scapegoat everyone but themselves for China’s downturn.

Bloomberg notes that government officials could lower the country’s annual growth target in March from the 6% to 6.5% range, to about 6%.

China has injected tens of billions of dollars into its financial markets and the real economy to prevent a hard landing. People familiar with increased stimulus measures told Bloomberg that deficit spending and issuance of government bonds would be the support tools to cushion the economy, expected to be announced on March 5, or thereabout.

We noted even before the virus outbreak, that China’s credit growth rapidly decelerated to the weakest pace since at least 2017, as a continued collapse in shadow banking, weak corporate demand for credit and seasonal effects all signaled that a massive rebound in China’s economy was unlikely in 1Q20.

Bloomberg Economics said China’s 1Q20 GDP figures could print around 4.5% Y/Y.

“That’s a drop from 6% in the final period of 2019 and the lowest since quarterly data that begins in 1992. Most of China’s provinces said before the virus became widespread, they’re expecting slower economic growth in 2020, with at least 22 out of 31 major cities, provinces and autonomous regions cutting their targets as of January 21, according to their work reports which layout plans for this year.”

The coronavirus shock from China has already sent commodities tumbling; for instance, copper futures are on the longest losing streak since 1986. Dr. Copper suggests China’s economy is headed for a hard landing, along with continued deceleration across the world.

What does this all mean? Well, China was responsible for more than 60% of all new credit created globally in the past decade.

With a slowdown in the country gaining momentum, creeping economic paralysis unleashed by the coronavirus epidemic, hopes for a rebound in the second-largest economy to rescue the global economy have faded. This could only suggest the world is headed for below-trend growth.

Zero Hedge



34 Comments on "China to Lower 2020 Economic Growth Expectations On Coronavirus Outbreak"

  1. Dredd on Wed, 5th Feb 2020 6:45 am 

    It’s the civilization virus (How To Identify The Despotic Minority – 14).

  2. REAL Green on Wed, 5th Feb 2020 8:17 am 

    Excluding my ID Theft and Sock Puppetry, I am spending less time on this lame unmoderated forum to concentrate on my own blog. I do want to thank all those who have attacked me with giving me material for growth. I have saved the best of my comments for my new blog. I have years worth of material. I have enjoyed moderating the worst of you and neutering your selfish useless agendas. I will still be here it is just I will be spending more time putting out a blog. I don’t expect much of a following with my blog. This is more a personal effort to assemble what I have learned over the last 10 years of formulating my REAL Green Deep Adaptation. For the stalkers here I hope you find my blog and visit the comment forum. It will be only lightly moderated to prevent juanpee identity theft and excessive cloggo spamming. LOL. There will be a prize for juanpee and annoymouse if you can stalk my blog. Double LOL. Anyway fuck my enemies and many thanks to those who contributed to my metamorphous.

    I guess I could have joined the moderated section at PO dot com, but I knew I’d get my ass permanently banned. I’ll try not to let the door smack me up the backside on the way out.

    Goodbye to ALL of you dumbasses.

  3. REAL Green on Wed, 5th Feb 2020 8:20 am 

    Note to self:

    Careful not to allow exit door from smacking me hard upside anal cavity on the way out of here.

  4. Richard Guenette on Wed, 5th Feb 2020 8:29 am 

    Here are some suggestions:

    1). Cut taxes by 50% or more and create sustainable long-term jobs.
    2). Ban outsourcing of jobs (in other words, bring back our jobs).
    3). Reduce the size, scope and power of the government.
    4). Create large-scale agriculture (vertical farming) to feed the whole planet. Use food waste as a fertilizer.
    5).Heavily invest in desalination (saltwater-to-freshwater) technology and use the water for water conservation, traditional agriculture and so on.

  5. Richard Guenette on Wed, 5th Feb 2020 8:31 am 

    6). Restrict capital punishment for serious crimes only (ex:war crimes, human trafficking, torture etc.)

  6. JuanP is mindless and stupid on Wed, 5th Feb 2020 8:36 am 

    LOL, Richard Guenette is a classic juanPee mindless low IQ sock. Any of you old timers remember Kenz300? Same dude just more insane because jaunPee has lost it.
    Richard Guenette said 6). Restrict capital punishment for serious crimes…

    Richard Guenette said Here are some suggestions: 1). Cut taxes by 50% o…

    This is juanPee ID theft. He is jealous of my realgreenadaptation.blog. Thanks juanPee for the increased visits to my blog, dumbass does not realize he is helping my message.

    REAL Green said Note to self: Careful not to allow exit door from…

    REAL Green said Excluding my ID Theft and Sock Puppetry, I am spen…

  7. JuanP on Wed, 5th Feb 2020 8:43 am 

    TRUMP 2020!

    Twitter Goes Full Tilt, Suspends James O’Keefe
    Twitter has locked the account of conservative journalist James O’Keefe for publishing publicly available evidence that a pair of radical leftists with violent fantasies work for the Bernie Sanders campaign. While O’Keefe’s tweets are still visible, he can’t publish anything new on the platform until he deletes a post which violates Twitter’s rules against “posting private information.” O’Keefe was responding to a tweet by Washington Post reporter Dave Weigel claiming that the men, Kyle Jurek and Martin Weissgerber, are Sanders volunteers. When O’Keefe demanded a retraction, posting publicly available Federal Election Commission (FEC) records revealing their employment, Weigel deleted his tweet. And now, O’Keefe must delete his evidence or he won’t be able to tweet again. BREAKING: @JamesOKeefeIII Twitter account has been locked for reporting on Sanders campaign staff He recieved this message: pic.twitter.com/civAjzngMc — Jack Posobiec (@JackPosobiec) February 5, 2020 Jurek and Weissgerber were filmed going on disturbing rants about armed revolution and re-educating conservatives in modern gulags by undercover journalists for O’Keefe’s Project Veritas. They also said there are many people involved in the Sanders campaign who feel the same way. It’s in the public interest to know that paid presidential campaign staffers are arming themselves for the “fucking revolution” – and ready to “tear bricks up and start fighting” before sending ‘all ‘Republicans to re-education camps.’ Moreover, it’s in the public interest to identify and distinguish these individuals as paid staffers who have gone through a hiring process, as opposed to volunteers – who would by definition have a far weaker association with a campaign. And while publishing private information would be a clear violation of Twitter’s rules, O’Keefe was using publicly available information to correct Weigel on a pertinent fact. Now, O’Keefe is currently unable to reach his 710,000 followers unless he retracts his evidence from their platform. What rules is Twitter actually following when they police accounts? Was it ok for CNN to confront, harass, and disclose the name of an elderly woman who promoted a pro-Trump social media account allegedly set up by Russians? That tweet is still up, along with CNN’s account. Did @CNN get this woman’s permission to record and harass her on her front lawn and post the video to Twitter? Can’t wait until Twitter locks their account!https://t.co/mPCYejZ4Ej https://t.co/IHFZqb3xag — ALX (@alx) February 5, 2020Is it fine that BuzzFeed journalist Ryan Broderick ‘doxed’ Amy’s Baking Company over Twitter, tweeting a link to the private contact information of the husband and wife owners? Broderick’s tweet remains as of this writing, along with his account. Meanwhile, if one directs people to ask a Chinese scientist researching bat coronaviruses about an outbreak of bat coronavirus in the same city as his laboratory, using publicly available contact information – and if you think it’s strange that he would be looking to hire post-doc fellows to use “bats to research the molecular mechanism that allows Ebola and SARS-associated coronaviruses to lie dormant for a long time without causing diseases,” you might lose lose your Twitter account forever. And while one would hope that Twitter carefully weighs already-public information and the public interest when they make these decisions, it would be easy for one to conclude that the notoriously left-leaning social media giant is scrambling to mute people who think differently on their de-facto public square leading up to the 2020 election.

  8. ANAL REAPER on Wed, 5th Feb 2020 9:55 am 

    The fucking nigger chinks in gook land needs to stop eating bats and snakes.

    Fucking Chinese people is a shitty race with their tiny wieners!

  9. Fact Checker on Wed, 5th Feb 2020 10:12 am 

    The above is the dumbass low IQ south American, you know, juanPee. The short guy with a big head. He has sexual issues as one can see from his handle “anal reaper” STUPID!!!

  10. JuanP on Wed, 5th Feb 2020 10:18 am 

    TRUMP 2020!

    John Fund: Pelosi’s SOTU tantrum was also an acknowledgment of defeat
    House Speaker Nancy Pelosi, D-Calif., wasn’t just mad at President Trump last night when she tore up a paper copy of his State of the Union message on national television. She was also probably mad at herself and her fellow Democrats as well for being outmaneuvered by the ostentatiously theatrical president. The man her party impeached just two months ago is now about to be acquitted, has a record-high 49 percent approval rating and could well win reelection and even endanger her House majority. What a difference a year makes. At last year’s State of the Union, Pelosi was riding high. Democrats had just retaken the House, emerged victorious from a government shutdown and Pelosi had an iron grip over her fellow House Democrats. She mocked Trump last year, snickering as she gave him a sarcastic sideways clap. Pelosi knows the game of politics better than almost anyone else in Washington, being the daughter of a machine mayor of Baltimore and a House member for over 30 years. For months, she wisely resisted calls for impeachment last year. She told the Washington Post last March: “I’m not for impeachment. Unless there’s something so compelling and overwhelming and bipartisan, I don’t think we should go down that path, because it divides the country And he’s just not worth it.” SQUAD PRAISES PELOSI FOR TEARING UP TRUMP’S SOTU SPEECH Pelosi appeared to be vindicated in her caution when the Mueller Report was released a couple of weeks later and proved to be a political dry-hole for Democrats. But then in September came the revelations that President Trump had foolishly mixed domestic politics with diplomacy in seeking an investigation of Hunter Biden’s suspicious business dealings in Ukraine. Nonetheless, Pelosi initially resisted new calls from her base for Trump’s impeachment. She worried that it overshadowed her party’s efforts to focus on the healthcare and other pocketbook issues she believed won Democrats the House. Impeachment would put the focus on Trump and his personality – a playing field where Democrats often act irrationally. But with over 80 percent of Democratic voters favoring impeachment, Pelosi finally gave in and began to lose her footing. In November, she explicitly accused President Trump of “bribery,” and then pushed through two articles of impeachment that didn’t mention the issue. The sloppy and rushed impeachment articles passed the House in December and then Pelosi withheld sending the articles to the Senate for a month, almost as if she realized how thin they were. After a Senate trial during which President Trump’s numbers only went up, Pelosi sat in the Speaker’s chair last night realizing that Democrats had lost political momentum to Trump. She grimaced throughout the speech, shook her head and refused to even applaud a fourth-grader in the audience who was awarded a scholarship so she attends a better school.After she was captured ripping up Trump’s speech on national TV, Pelosi explained her action as “the courteous thing to do considering the alternatives.” For political observers, it looked more like an exercise in frustration by a political leader who rejected a smarter alternative in resisting impeachment. Now she and her party have surrendered the upper hand to President Trump.

  11. GregT on Wed, 5th Feb 2020 10:38 am 

    My position on whitey supertard trump

    Disapprove
    Lied about our weak navy
    Remedy bring back top navy commanders who are experts at muzzies burial at sea but it’s not a muzzie head spun

    Approved
    Muzzies died like a dog
    Action make more muzzies died like a dog
    Reminder
    362 days to world supremacist muzzies bag day feb12021

    65 days to world grater nedertardland day

  12. cloggie on Wed, 5th Feb 2020 1:02 pm 

    I have to say I respect muzzies they come out and say they us dead. They’re wrong

    Bigger balls is whitey supertard trump who said muzzies died like a dog is good muzzies
    He’s rite . This is revolutionary when entire society says max love for supremacist muzzies

    Only 361 days to world supremacist muzzies bag day 212021

  13. ANAL REAPER on Wed, 5th Feb 2020 1:08 pm 

    I want to salute whitey supertard trump muzzies died like a dog.
    I want him to ride on my back around the beltway

    Only 360 days to world supremacist muzzies bag day 212021

    70 days to world grater nedertardland day

  14. cloggie on Wed, 5th Feb 2020 1:20 pm 

    I’m no longer a fan of the British royals garbage
    They don the bag like it’s high fashion with a dream toward ‘white sharia’

    Garbage should move to muzzies Pakistan

  15. Duncan Idaho on Wed, 5th Feb 2020 1:55 pm 

    “Certain weeks in history resonate with a significance not always understood at the time, but made clearer as the days pass into months, years, and into history. The week of October 14,1066 the Battle of Hastings was fought, leading to the Norman conquest of England and the end of Anglo-Saxon rule. During the week of April 12,1861, Pierre Beauregard ordered the shelling of Fort Sumter, and with that act of sedition the beginning of America’s Civil War. The week of June 28, 1914 a Bosnian separatist assassinated Archduke Franz Ferdinand, the presumptive Hapsburg heir to the throne of Austria-Hungary, and touched off a series of events that led to the first World War. One could make a case that the past week may join them in the ranks of infamy: the US Senate, for all intents and purposes, elevated a king; Great Britain left the European Union; and the Wuhan coronavirus, an agent of uncertain communicability but established lethality, was making its way across the globe via air routes. “

  16. Davy on Wed, 5th Feb 2020 2:10 pm 

    “the US Senate, for all intents and purposes, elevated a king;”

    actually it marked the demise of the historic Democratic party into a menagerie of conflicting political currents and despotic tendencies.

  17. Duncan Idaho on Wed, 5th Feb 2020 2:12 pm 

    Not a fan of Dims or Repugs—
    But one must obsess over them, be my guest.

  18. Davy on Wed, 5th Feb 2020 2:28 pm 

    “Not a fan of Dims or Repugs— But one must obsess over them, be my guest.”

    I am an independent pro Tulsi 2020 vote. I am obsessing over the shredding of the constitution by the extremist left.

  19. Duncan Idaho on Wed, 5th Feb 2020 2:39 pm 

    I am obsessing over the shredding of the constitution by the extremist left.
    Here on Earth, its just the opposite—–
    But reformist politics are way in the rear view mirror.

  20. DavyTurd The Hypocrite on Wed, 5th Feb 2020 3:22 pm 

    How to define HYPOCRISY? Here’s one more fine example:

    DavySkum Trump supporter accuses others of “despotic tendencies”.

    What a disgusting fraud, fake, huckster.

    Trumps of a feather flock DavySkums together.

  21. Davy on Wed, 5th Feb 2020 3:30 pm 

    “Here on Earth, its just the opposite—–”

    Funny, you don’t act like your feet are on the ground. Check your feet again.

  22. Fact Checker on Wed, 5th Feb 2020 3:31 pm 

    DavyTurd The Hypocrite = juanPee the mental case

  23. world supremacist muzzies bag day feb12021 on Wed, 5th Feb 2020 3:32 pm 

    Why don’t muzzies and muzzies lovers love supertard
    He’s a hard core muzzies lovers

    Confused

  24. Fact Checker on Wed, 5th Feb 2020 3:35 pm 

    juanP is a muzzie lover

  25. JuanP on Thu, 6th Feb 2020 7:36 pm 

    I am blown away by how hateful and resentful Americans are towards China, its people, and its government. Americans go to great lengths to avoid taking any responsibility for all the problems they’ve created across the world.

  26. JuanP on Thu, 6th Feb 2020 7:37 pm 

    Delusional Davy’s behavior being a prototypical example of this.

  27. peakyeast on Thu, 6th Feb 2020 8:05 pm 

    According to a mainstream Danish newspaper:

    About 550 dead from the flue.
    About 25000 registered cases.
    About 1500 has recovered from the virus.

  28. makati1 on Thu, 6th Feb 2020 8:33 pm 

    So true, JuanP. So true. Amerika is a land of hypocrites.

  29. JuanP & Makati1 are stupid on Fri, 7th Feb 2020 4:27 am 

    “I am blown away by how hateful and resentful Americans are towards China, its people, and its government. Americans go to great lengths to avoid taking any responsibility for all the problems they’ve created across the world. Delusional Davy’s behavior being a prototypical example of this.”

    What a stupid naked comment with no substance which is typical of juanPee. Sow some examples stupid. We know you hate American but love living here stealing from us.

    Then we get the old man in the P’s with his lame comments looking as stupid and low IQ as ever!

    “makati1 on Thu, 6th Feb 2020 8:33 pm So true, JuanP. So true. Amerika is a land of hypocrites.”

  30. Abraham van Helsing on Fri, 7th Feb 2020 8:05 am 

    Forget about peak oil, climate change, this could be the black swan event:

    https://www.sciencemediacentre.org/expert-reaction-to-whos-decision-to-declare-the-wuhan-coronavirus-outbreak-a-pheic-public-health-emergency-of-international-concern/

    Prof Jonathan Ball, Professor of Molecular Virology, University of Nottingham, said:

    “This was to be expected, especially given the ramping up of infections in China, increasing numbers of other countries reporting cases of coronavirus infection, and the real threat that this infection poses to global health, especially in places that lack adequate surveillance and infrastructure.“We need to gain a better understanding of how the virus is behaving if we have any chance of bringing this outbreak to a close and a concerted and increased international effort in the best way to achieve this; I just hope that it is not too late.

    https://www.theguardian.com/world/2020/feb/07/what-is-coronavirus-wuahn-china-outbreak-doctor

    “The mortality rate is 2%.”

    If the entire planet gets Corona, that would implicate 140 million dead, proportionally less bad than the Spanish flu, a century ago.

    Kiss your globalized world economy goodbye.
    This could easily trigger a financial collapse as well.

    Upside:
    – nice opportunity for Eurasia to finally get rid of the dollar reserve currency.
    – populists are going to love it because the idea of One World is going to be discredited. Just like Ocean cruise liners are designed compartmentalized to avoid sinking the entire ship because of a singe leak, likewise the argument will be to largely shield off geographical territories of each other to avoid global pandemics.

    [Insert sound of rubbing hands here]

  31. Abraham van Helsing on Fri, 7th Feb 2020 8:17 am 

    Weather forecast Antarctica:

    “lightly clouded, 18C”

    https://www.spiegel.de/wissenschaft/natur/antarktis-wetterstation-meldet-18-3-grad-temperaturrekord-a-febcd829-60e0-4f09-8c99-95d36d7c4f43

    18.3C (65F), absolute record since measurements began in 1961.

    Nothing kills CO2 emissions better than a global pandemic and a subsequent crashed global economy. Corona could be able to push through what democratically elected politicians can’t afford to do, especially in America.

  32. Davy on Fri, 7th Feb 2020 8:26 am 

    “Upside” for either side

    No upside, cloggo, the dollar will probably become more important, dummy.

  33. Abraham van Helsing on Fri, 7th Feb 2020 11:44 am 

    Scientist Jeremy Farrar says that a vaccine will come too late to prevent a global expension of Corona. It is not even certain that a vaccine will be developed:

    https://www.spiegel.de/wissenschaft/medizin/coronavirus-ein-impfstoff-wird-zu-spaet-kommen-sagt-seuchenexperte-a-00000000-0002-0001-0000-000169356850

    Farrar is the director of the scientific institute “Wellcome Trust”, one of the world’s largest health science institute. Unlike SARS does Corona have a “good chance” to stay permanently.

    Really scary is the speed with which the virus spreads.

  34. ariana on Sun, 23rd Feb 2020 8:54 pm 

    This is an inspirational article. I am quite satisfied with your good work. You give really useful information. You can visit our page to play http://vex3.games/short-life y8 game

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