g5000
Diamond Member
- Nov 26, 2011
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https://www.advisorperspectives.com/commentaries/2020/03/06/chinese-coronavirus-changeup.pdf
Here in central Shanghai, the usual rush-hour traffic kicks off at 8 am and remains nose to tail until 9 am when the streets become curiously empty. So, leaving Browning Towers yesterday, I took a shared bike (RMB 1.5, USD 0.21) and cycled around my local neighborhood.
I can report 70% of street-side shops and businesses are open, however, 100% of the restaurants and 50% of the hotels are closed. Like mine, all residential compounds are gated and closed except to residents with huge piles of deliveries waiting outside for collection under makeshift awnings. Everyone, and I mean everyone, wears a mask, and on a bike, breathing through an N95 mask is no easy business.
I stopped at my local Starbucks to find it open, but all the furniture was stacked and swept to one side and a barista took my temperature before serving me. Seeing that my fellow customers were heavily wrapped delivery guys (Deliveroo, Sherpa etc.) I realized my usually cozy Starbucks was open for takeaway only. I mention this as Shanghai with 42 confirmed cases has not had any meaningful increase in virus cases for some weeks. Wuhan, where the new cases are declining but still averaging about 400 a day is only 460 miles away. Clearly, the numbers in Shanghai are static because of the level of precaution the local community is happy to make.
I returned to my compound, the street-side gate security took my temperature and waved me through, and I finally I arrived home with my coffee.
All those factories, restaurants, and hotels are closed. That is going to impact employment, demand, and outstanding loan payments significantly.
Here in central Shanghai, the usual rush-hour traffic kicks off at 8 am and remains nose to tail until 9 am when the streets become curiously empty. So, leaving Browning Towers yesterday, I took a shared bike (RMB 1.5, USD 0.21) and cycled around my local neighborhood.
I can report 70% of street-side shops and businesses are open, however, 100% of the restaurants and 50% of the hotels are closed. Like mine, all residential compounds are gated and closed except to residents with huge piles of deliveries waiting outside for collection under makeshift awnings. Everyone, and I mean everyone, wears a mask, and on a bike, breathing through an N95 mask is no easy business.
I stopped at my local Starbucks to find it open, but all the furniture was stacked and swept to one side and a barista took my temperature before serving me. Seeing that my fellow customers were heavily wrapped delivery guys (Deliveroo, Sherpa etc.) I realized my usually cozy Starbucks was open for takeaway only. I mention this as Shanghai with 42 confirmed cases has not had any meaningful increase in virus cases for some weeks. Wuhan, where the new cases are declining but still averaging about 400 a day is only 460 miles away. Clearly, the numbers in Shanghai are static because of the level of precaution the local community is happy to make.
I returned to my compound, the street-side gate security took my temperature and waved me through, and I finally I arrived home with my coffee.
All those factories, restaurants, and hotels are closed. That is going to impact employment, demand, and outstanding loan payments significantly.