RE: outlook for the week26 Feb 2020 18:11
Longwait,
"I just read an article about the virus and world economy.... after finishing reading it, I looked out of the window to check the world was still there."
Yup, still there, in all its Orwellian glory!
Strange how thing pan out, isn't it? A flu-like virus originates in China, which although most people who catch it just get a cold or some 'flu, some others (probably with a weak immune system) develop pneumonia and die. A few thousand so far over a couple of months when in the same period of time at least 100,000 people will have died in road traffic accidents.
The media (these days 'uncontrolled' ) goes into a spin, telling people 'not to panic'. Which of course causes people to think they're smarter than the media, and... panic.
One result? The economies of the Western Democratic Capitalist countries worldwide (as represented by their stockmarkets) go into tailspin. The price of oil plummets.
But at the same time, with a retreat into 'safe havens', the price of physical gold goes up (Something I'm personally taking advantage of!)
Who has been the biggest buyer / stockpiler of physical gold over the last three years or so? China. Who is prepared to deal oil directly for gold? China, Russia, and certain middle-eastern countries. Who stands to lose the most from cheap Chinese imports like motor-industry parts? That place called 'The West', not the Chinese factory-workers where the plant has been shut down, 'cos they're paid a pittance anyway and have probably got a chicken or two running free in their appartment-block bathroom to lay some eggs, or to kill and roast when push comes to shove.
There's a lot more than this whole thing than just another virus. And it ain't a 'killer disease' like Ebola, which is a very nasty thing indeed.