Optimistic Comments From Chinese Officials on Coronavirus

The cases of coronavirus keep increasing, but Chinese officials are trying to calm the situation

Skerdian Meta•Monday, February 17, 2020•1 min read

The coronavirus keeps progressing in China particularly and in other countries as well. Regarding the economy, it’s still too early to tell since the data for January hasn’t started to come out yet for many sectors of the global economy, but chances are that the Chinese economy in particular will suffer in the coming months.

Although, Chinese officials seem more optimistic today, as the pace of the spread has slowed in recent days. China’s NHC (national health service) said earlier this morning that new coronavirus is preventable and treatable. Sure, there have been quite a few people who have recovered, but it still is a tough virus, otherwise China would have dealt with it.

So in other words, they are trying to change the public mindset to get the economy back up and running once again. On the other hand, Xinhua reported that Beijing will build a new mask factory within six days to meet the soaring demand for masks. This tells the opposite story of what the Chinese officials are trying to tell us. Below is the table of coronavirus cases, going up by more than 2k today and deaths going up by 106. So, this table shows a different picture, which is keeping risk assets bearish.

Country, Other	Total Cases	New Cases	Total Deaths	New Deaths	Total Recovered	Serious, Critical
China	70,553	+2,053	1,771	+106	11,255	11,272
Cruise Ship	454	+99			17	19
Singapore	77	+2			24	4
Japan	65	+6	1		17	19
Hong Kong	58	+1	1		2	7
Thailand	35	+1			15	2
S. Korea	30	+1			10
Malaysia	22				9
Taiwan	20		1		2
Vietnam	16				7
Germany	16				3
USA	15				3
Australia	15				10
France	12		1		4
Macao	10				5
U.K.	9				8
U.A.E.	9				3	1
Canada	8				1
Philippines	3		1		2
Italy	3					2

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.