China’s President in Wohan today, Is A Positive Sign for Markets
Skerdian Meta•Tuesday, March 10, 2020•1 min read
The Chinese economy has been taking a hit due to coronavirus,which comes after a two-year long trade war. Chinese officials were trying to hide the virus outbreak in December, and later they tried to hide the effect of it on the economy. But, the recent data has showed it all.
But, they are taking the situation under control. Today, the Chinese president Xi Jinping was in Wuhan for a visit today and when you see such a symbolic move – sort of like an army general taking his victory lap over a conquered land – then there is little chance that the current lock-down in Hubei will last for too long.
As such, Hubei will slowly go back to normality soon enough and we are already seeing early signs of that as seen here with the city of Qianjiang.
- Hubei province should resume production step by step
- Coronavirus control tasks in Hubei, Wuhan remain arduous
- Will speed up application of effective medicines for coronavirus
- Hubei’s economy is only hit in the short-term, long-term momentum not affected
The sentiment has improved today, but this is also partly due to Donald Trump’s comments yesterday that US will introduce a ‘dramatic’ US economic plan. I don’t know what the plan is, but the comments have been enough to improve the sentiment already.
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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.
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