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The coronavirus could cripple China's economy for longer than Wall Street wants to believe

1 month ago   |   By Business Insider

Wall Street is convincing itself that China will bounce back relatively quickly around the end of the first quarter, when it expects the coronavirus' spread to be contained.
This is banker delusion. China's economy is growing much more slowly than it was in 2003, when the SARS outbreak hit.
Plus, the financial sector is in much worse shape. It's loaded with debt, and credit conditions are still deteriorating from bailouts last year. This will all make it much harder to fund struggling businesses and local governments.
This is an opinion column. The thoughts expressed are those of the...
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