March 31, 2020
Manufacturing production has rebounded in China to pre-Wuhan levels.
According to Breitbart:
China’s manufacturing rebounded in March to record an expansion as authorities relaxed anti-coronavirus disease controls and allowed factories to reopen, an official survey showed Tuesday.
The spike came as the U.S. and rest of the world shut down businesses and furloughed workers.
The boost reinforces the argumentthat holds as long as the U.S. economy remains in question, China will seek to enter the perceived power vacuum created during the pandemic – likely at the expense of U.S. manufacturing and supply capabilities.
The ruling Chinese Communist Party however simply claims it is reviving the world’s second-largest economy after declaring victory over the coronavirus that started in the southern city of Wuhan last December.I am mindful of the words of Jimmy Stewart's character George Bailey in "It's a Wonderful Life" when a run on the Building and Loan threatened to close his business and hand all financial power to Mr. Potter "Potter isn't selling, Potter's buying. And that's because we're panicking and he's not."
The time for panic is over.
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