Optimistic Comments From Chinese Officials on Coronavirus - Forex News by FX Leaders

Optimistic Comments From Chinese Officials on Coronavirus

Posted Monday, February 17, 2020 by
Skerdian Meta • 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.

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