This chart shows just how bad the coronavirus has impacted travel and energy consumption as China is not back to work yet:
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China’s manufacturing base is facing an entirely new problem. It used to be that the trade war was their biggest worry. Today, the coronavirus has taken everyone by surprise.South China Morning Post we will not be delivering and that means many of us will risk losing our customers. For many companies, this could mean bankruptcy.”Passenger travel in cities like Beijing, seen here, has collapsed as people fear going outside, andMetro traffic is down nearly 90% in Shanghai since where it was a year ago at this time. Coal fired power plants are not firing on all four cylinders, let alone on all eight. China’s economy is on pause.
Nomura Securities in Hong Kong started putting out daily high-frequency data this week, tracking the rate of businesses returning to work. They use the Baidu Migration Index for tracking the “return rate” of workers after the Lunar New Year and traffic flows for railroads and subways in major cosmopolitan areas.
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