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Wuhan Virus Watch: Coronavirus Outbreak Sickens Chinese Economy

Wuhan Virus Watch: Coronavirus Outbreak Sickens Chinese Economy

President Xi declares a “People’s War” on the pathogen.

As of Saturday morning, the world has over 34,878 cases of the Wuhan coronavirus reported from 28 countries and administrative states, with 724deaths.  All of the reported deaths have occurred in China.

Reports say 6,106 of those afflicted patients are in critical condition and 2,085 are confirmed recoveries.

***We will update this post with new information.

A top economist predicts that China’s GDP growth this quarter will be 0%.

The coronavirus outbreak is sickening China’s economy.

Evercore ISI Chairman Ed Hyman said he sees no economic growth in China in the first quarter due to the deadly coronavirus.

The market pullback Friday “is still a worry about the virus,” Hyman said on CNBC’s “Squawk on the Street.” “Our team has GDP growth at zero for the first quarter … China is really slowing and that’s worrying people for sure.”

Hyman, who has been ranked the top economist in Institutional Investor’s annual poll for more than three decades, said the fast-spreading virus will not have much of an impact on the U.S. economy.

“We are so solid,” Hyman said. “It’s not the virus, it’s the trade that matters. People are not going out. They are not shopping, and that’s what’s hurting particularly China.”

The effects are starting to be felt on the global economy.

It may turn out that President Donald Trump’s move to decouple the American economy from China may prevented our economy to be too badly infected.

Stocks ended lower Friday as worries over the coronavirus’ impact on the Chinese economy outweighed the release of stronger-than-expected U.S. jobs data.

The Dow closed 277 points lower, while the S&P 500 and Nasdaq lost more than 0.5%. The losses snapped a four-day winning streak for the major averages. Still, stocks notched strong weekly gains despite Friday’s losses.

President Xi declares “People’s War” against the cornonavirus

China’s communist leadership, which has enjoyed prosperity and expansion for many years, are now unnerved by travel bans that have been put in place because other nations do not trust the reports coming from the Chinese press.

So, its leader has announced “A People’s War” against the virus.

China is becoming increasingly frustrated by the travel bans imposed on its citizens amid the coronavirus outbreak, observers say, adding that the tension could have serious economic implications for Beijing and its trading partners.

On Friday, Chinese President Xi Jinping told his US counterpart Donald Trump that Beijing was doing all it could to contain the outbreak.

“We have adopted the most comprehensive and strictest prevention and control measures,” state broadcaster CCTV quoted him as saying in a telephone conversation.

“We have declared a people’s war … [and] are fully confident and capable of fighting the epidemic. The long-term trend of China’s economic development will not change.”

Failure to fully disclose the extent of the problem may have doomed the Chinese economy more effectively than any tariff the US could have put in place.

Restaurants in New York City’s Chinatown see business plummet as much as 50 per cent amid fears over coronavirus

There has been a significant downturn is the New York City Chinatown restaurant business, which is unusual as it is occurring during Chinese New Year celebrations.

Restaurants in New York City’s Chinatown have seen business drop dramatically due to fear of coronavirus, even though the city has yet to have a confirmed case of the virus.

Jing Fong owner Truman Lam estimated that there’s been a decrease in patronage of about 25 to 50 per cent, ‘depending on the day,’ at his restaurant.

‘It is a cause of concern, because it’s basically all related to coronavirus,’ Lam said, adding that ‘We don’t know how deeply people feel about it, especially because there are no confirmed cases in New York.’

Hong Kong Airlines takes a nosedive.

One business is in critical condition, as a result of the coronavirus outbreaks plaguing the region.

Hong Kong Airlines has been forced to fire 400 of its staff after sales nosedived amid the coronavirus outbreak.

The remaining staff have been ordered to take unpaid leave while the airline weathers the ongoing tourism slump.

Passenger demand was already low as people shirked the embattled city-state which has been in the grip of violent anti-government protests.


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I don’t know if you saw this Leslie but the White House has now “asked scientists” to investigate not only the origin of the coronavirus but whether it was bio-engineered.

Apparently, the various cover stories are in serious question.

Every government has its own version of what happened but all immediately dismissed, apparently without information, that it may be bio-engineered. Just like the FBI immediately declared that terrorism was involved in the Boston Marathon terrorist attack.


    Just like the FBI immediately declared that terrorism was NOT involved in the Boston Marathon terrorist attack.

      notamemberofanyorganizedpolicital in reply to Pasadena Phil. | February 8, 2020 at 3:44 pm

      Hear Hear!

      There were reports of this virus being stolen from a Canadian lab as early as about one month ago.

      Is that why the Communists are “becoming increasingly frustrated by the travel bans imposed?” Harder to take down your enemies…..? Just thinking out loud……

    There have also been highly ignorant stories, based on mere patent filings, that the coronavirus is man-made. Further, the site you reference doxxed a researcher based on his resume. Tyler Durden deserves the criticism he got.

    If this is a bioweapon, the ordinary research to counter a virus will detect it. In the ordinary course of research, multiple groups will sequence the disease-causing organism, and be able to trace any suspicious inserts. I am glad to see that the US government will be required to be open about it.

    Another possibility is that the Chinese government authorized a clinical trial, or extensive distribution, of a dangerous vaccine. That story, if true, can also be confirmed by multiple other research groups in the ordinary course characterizing the disease-causing virus. If this turns out to be true, the Chinese government should be made to answer for its foolishness.

    A third possibility is that the shiny, new research facility failed to contain its highly dangerous, possibly stolen, library of materials. This possibility will also be confirmed or eliminated in the ordinary course of research.

    Or, this virus could be one of the many viruses that regularly jump species from time to time, such as the bird flu that is currently being contained, also in China. This is a natural process that happens, from time to time. It does not require human intervention. Coronavirus is a big family of viruses that has been on the list of pathogens known to be capable of causing a pandemic if it jumps species. It’s one of many such pathogens.

      walls in reply to Valerie. | February 8, 2020 at 3:09 pm

      I have read many articles in a few journals claiming that this has manmade components. Some of these journals are generally known to be “conspiracy promoting”. I tend to put some faith in these articles, partly because I simply don’t trust China, and the articles appear to be well written.

      My wife, however, is an internationally known PhD researcher in this field, has seen the published genome from non-Chinese sources, and is adamant that this is not manmade.

      I await further articles on this subject. I hate it when my wife is right and I am wrong ….

        beagleEar in reply to walls. | February 8, 2020 at 7:56 pm

        I’m afraid your wife is likely to win this one.

        That Zero Hedge article was posted in the spirit of asking those questions rather than automatically believing one of several conflicting government reports. None of the obvious questions have been addressed. I don’t know what to believe and am not qualified to evaluate anyone’s analysis.

        But I do never accept “instant” dismissals from government “experts”. Why does each government come out with a different explanation and what makes us so quickly accept our own government’s explanation?

        Apparently, someone at the White House (Trump?) decided that we need better explanations and wasn’t satisfied with those he was being fed. That means anyone who chooses to automatically dismiss anything but the current “Hey, shit happens! version is not thinking clearly. We need to know the truth.

        The ChiComs have quarantined over 400 million citizens, more than the entire US population. Maybe this is serious enough to investigate? The White House is now investigating. Thank God!

      notamemberofanyorganizedpolicital in reply to Valerie. | February 8, 2020 at 3:51 pm

      Any one else remember the U.S. Federal Government military experiments on the Tuskegee air men in the 40s, and other military personnel and general public in the60s?

      stevewhitemd in reply to Valerie. | February 8, 2020 at 5:47 pm

      I wear my biomedical scientist hat on this one. I’m not a virologist, I’m a clinical cell biologist.

      Sequencing is easy these days, and very quick. As far as I can read, every coronavirus variant including the ones responsible for SARS and MERS (and most variants of every other common pathogenic and commensal virus) have been sequenced. We know a LOT about coronavirus; so if the new strain has been engineered in some way, we would know that very quickly.

      Further, coronavirus is a single-strand RNA virus — that means that it’s very prone to spontaneous mutations. Single-strand RNA viri are prone to this (e.g., influenza, which mutates very frequently; this is why you need an annual flu vaccine).

      So while it’s certainly possible (in this day and age of molecular biology in which a good post-doctoral fellow with a decently equipped lab and modest budget could do so) to engineer a highly virulent coronavirus, and I wouldn’t put it past some dastardly group to do such a thing, it someone did, the WHO and CDC would know it without any delay. Sequencing is easy.

      I think you need to re-read the article. The criticism is automatic when governments are challenged. It means you are over the target and catching flack.

      And BTW, there is no Tyler Durden. Several people post articles under that name at Zero Hedge. I generally don’t agree with their libertarian politics but over the years, they have been very good at getting correct information out about important things. They do their homework.

      ZH didn’t declare that there was a conspiracy afoot involving a weaponized virus. They just pointed out the obvious discrepancies and illogic and asking questions that everyone else was too lazy or uninformed to ask. Maybe you haven’t noticed that governments lie and our media goes along with them?

    JusticeDelivered in reply to Pasadena Phil. | February 8, 2020 at 7:45 pm

    Interesting tutorial about Coronavirus:

    Interesting paper on using salt to kill virus on masks:

    JusticeDelivered in reply to Pasadena Phil. | February 8, 2020 at 9:43 pm

    Experts envision two scenarios if the new coronavirus isn’t contained

Is Bat Soup on the menu in NY’s Chinatown restaurants?

The thought that 2 unlikely viruses “mixed” crossed my mind. And it should have crossed the minds of every reputable bio-researcher. The Canadians have done some in depth work on coronaviruses and may have some insight as to how a rna strand from a toxic variety that is reservoired in reptiles became attached to a relatively harmless coronavirus that is harbored in mammals.

Our son is in Japan staying with my wife’s family. My wife showed me pictures last night, and in every picture he’s wearing a mask.

She said the Japanese news said the first Japanese national might have died from the coronavirus. He was sent by the company he worked for to Wuhan on business. In mid-January he entered the hospital there with flu-like symptoms. He died soon thereafter. The Chinese are now saying it may have been from the coronavirus.

Seeing as it’s in Wuhan, I’d bet it was the coronavirus.

Don’t know how the above duplicate comment appeared. Might have something to do with Preview not working. Sorry. Moderator, please delete. 🙁

    JusticeDelivered in reply to pst314. | February 8, 2020 at 7:21 pm

    I think that this is a timing issue, in that a rapid double click can have two transmissions of the same post sent and receive before the server software can log that the first post has been received. I cannot not see any solution to this problem, other than perhaps much faster processors.

Sammy Finkelman | February 9, 2020 at 3:41 pm

The death toll can’t be as high as 50,000. The corona virus is not so deadly outside of China. But the crematoria in Wuhan are working overtime.

Even allowing for the possibility that there is a second pathogen involved, which China s trying to conceal and which has not made it out of China, and poor, or nonexistent, treatment, heavy air pollution in Wuhan, and poor nutrition as well as quarantine or hospital conditions that causes people to infect each other, there should be people who recovered and released. Do we hear of any by name in Wuhan? We should soon find out.

Patients do not get visitors. And their bodies are not seen by surviving family members

The number of deaths should be either increasing or decreasing, not even, so they should be either having to scramble to dispose of bodies and doing something unusual, or working less hours. With 24 hours day 7 days a week there’s no margin. Yet that’s what’s been reported.

So they could be culling patients, i.e., injecting them with some variety of fentanyl (of which there is plenty of in China) or other drugs, and attempting to eliminate the disease by extermination. Like they do with chickens or pigs. Which tactic has been overused there, by the way.

The Chinese government is both ruthless enough and stupid enough to do this.

Significantly, President Xi Jinping of China is not connecting himself with the efforts against the disease (something that President Trump here in the United States hasn’t noticed because he expressed confidence in Xi’s ability to contain the disease.) although Xi usually connects himself with everything that is going on in China.

This could be because he knows there might be a big scandal that emerges in the future (like possibly periodic “culling” of patients and sending them to crematoria) and Xi wants to be able to disassociate himself with the efforts against the disease.

Sammy Finkelman | February 9, 2020 at 3:47 pm

Xi Jingping disassociating himself from the action f the Chinese government:

Xi Jinping has backed out of the spotlight as the country faces its worst crisis in years, reflecting the political risks he faces if efforts to contain the virus fail. ..

…Yet as China’s battle with the coronavirus intensified, Mr. Xi put the country’s No. 2 leader, Li Keqiang, in charge of a leadership group handling the emergency, effectively turning him into the public face of the government’s response. It was Mr. Li who traveled to Wuhan to visit doctors.

Mr. Xi, by contrast, receded from public view for several days. That was not without precedent, though it stood out in this crisis, after previous Chinese leaders had used times of disaster to try to show a more common touch. State television and newspapers almost always lead with fawning coverage of Mr. Xi’s every move.

That retreat from the spotlight, some analysts said, signaled an effort by Mr. Xi to insulate himself from a campaign that may falter and draw public ire. Yet Mr. Xi has consolidated power, sidelining or eliminating rivals, so there are few people left to blame when something goes wrong.

They really could be killing people like they do pigs. Does anyone doubt that they are capable of it?

We’ll find out soon enough.

    Sammy Finkelman in reply to Sammy Finkelman. | February 10, 2020 at 11:15 am

    I’m thinking this story of large numbers of bodies being shipped to crematoria is a hoax spread by people who want to make the death toll very high. As I said the death toll cannot be so much higher in Wuhan than anywhere else, and the explanation I came up with for the large numbers of bodies being sent to crematoria, was that the Chinese government was murdering patients with fentanyl or some other drug.

    This could only happen in special hospitals, but not regular ones with their usual staff of doctors and nurses. There don’t seem to be mass transfers.

    In addition, may patients are, or were, not accepted by hospitals because they have no room and they had to stay home or just outside the hospital.

    What’s actually happening is that Wuhan virus is not being diagnosed because they use DNA tests to do it, and there i shortage of kits and it also takes time. Many people are not getting any kind of treatment at all.

    Here is some New York Times coverage:

To see how this is affecting China’s geopolitical confidence & outlook – see how bellicose N.Korea is. Oddly now, we’ve heard nothing more about those new missiles – & they Won’t fly.