Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By John Rolls (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

China Has Ground to a Halt: "On the Ground" Indicators Confirm Worst-Case Scenario

% of readers think this story is Fact. Add your two cents.


By Tyler Durden / ZeroHedge

Back on Monday, when analysts and investors were desperately seeking clues whether China has managed to reboot its economy from the 2-week long hiatus following the Lunar New Year/Coronavirus pandemic amid the information blackout unleashed by the communist party in the already opaque country, we pointed out some alternative ways to keep tabs of what is really taking place “on the ground” in China, where Xi Jinping has been urging local businesses and workers to reopen and resume output, while ignoring the risk the viral pandemic poses to them (with potentially catastrophic consequences).

Specifically, Morgan Stanley suggested that real time measurements of Chinese pollution levels would provide a “quick and dirty” (no pun intended) way of observing if any of China’s major metropolises had returned back to normal. What it found was that among some of the top Chinese cities including Guangzhou, Shanghai and Chengdu, a clear pattern was evident – air pollution was only 20-50% of the historical average. As Morgan Stanley concluded, “This could imply that human activities such as traffic and industrial production within/close to those cities are running 50-80% below their potential capacity.”


***Support BeforeItsNews by trying APeX (far superior to colloidal silver) or any of our four other great health products at www.mitocopper.com ***


As a reminder, all this is (or technically, isn’t) taking place as President Xi Jinping on Wednesday sought to send a message that progress had been made in bringing the coronavirus outbreak under control and, for most parts of the country, the focus should be on getting back to business. According to state television, Xi chaired a meeting of the Politburo Standing Committee, China’s supreme political body, on the latest developments on the crisis and future policy responses, concluding that there had been “positive changes” with “positive results”.

Xi also reiterated that all levels of local government and Communist Party committees must strive to achieve China’s social and development goals this year, indicating that he did not want the public health crisis to hinder progress.

Most importantly, Xi urged local authorities to refrain from taking excessive measures to curb contagion, and yet clip after clip from China…

… shows that the measures being taken are far beyond merely “excessive” when it comes to limiting the potential spread of the virus, which probably makes sense considering the unexpected surge in infected cases in Wuhan, which have sent the total for China just shy of 60,000.

Add to this the ongoing uncertainty that Beijing is far behind the curve in containing the virus, and one can see why most businesses are reluctant to “get back to normal.”

In the latest confirmation of just that, several other indicators have emerged showing that despite Xi’s stark demands for 1.4 billion Chinese to ignore the global pandemic which may very well have been started by one of China’s own experimental labs…

… virtually all of China – and all those critical supply chains that keep companies across the globe humming and stocked with critical inventory – remain on lockdown.

As confirmation, while we wait for an update from Morgan Stanley on the latest Chinese pollution data (at least until Beijing’s definition of “pollution” is also revised) here is JPMorgan showing that while traditionally daily coal consumption – the primary commodity used to keep China electrified – rebounds in the days following the Lunar New Year collapse when China hibernates for one week, this year there hasn’t been even a modest uptick higher, indicating that so far there hasn’t been even a modest uptick in output.

Yet electricity is just one core indicator of real-time economic activity. Perhaps an even more critical one is human transit across the 1.4 billion person strong nation. Conveniently there is a way to track rudimentary traffic patterns across some of China’s key metro areas, and they show that – in a confirmation of the worst-case scenario – activity, as measured by travel, across most of China appears to have ground to a halt.

The charts below show TomTom’s traffic congestion data across key Chinese cities such as Beijing, Shanghai and Wuhan as compared to the average measurement for 2019. What they show is that virtually nobody appears to be driving in China!

Here is Beijing’s congestion level over the past 48 hours (a 7 day average is also available) compared to 2019. The data indicates that travel is about 70% below its 2019 peak.

Similarly, Shanghai is about 60% below its peak:

Wuhan, of course, is even worse, with barely any congestion – or traffic – registering.

Amazingly, the industrial hub of Guanghzhou also appears to have ground to a crawl:

And as mainland China grinds to a literal halt, traffic in Hong Kong is also starting to slide…

… and surprisingly, even such major hubs of commerce as Singapore are starting to see a traffic impact.

By comparison, here is what Los Angeles traffic looks like over the past 48 hours vs 2019 average.

While not perfect, and certainly not a comprehensive view of what is really taking place “on the ground”, the above data is a useful real-time indicator of how the people in China perceive the threat of the coronavirus pandemic, and one thing is abundantly clear: as the pandemic spreads further without containment, and as the charts above flatline, so will China’s economy, which means that while Goldman’s draconian view of what happens to Q1 GDP is spot on, the expectation for a V-shaped recovery in Q2 and onward will vaporize faster than a vial of ultra-biohazardaous viruses in a Wuhan virology lab.

See videos here at ZeroHedge: https://www.zerohedge.com/economics/china-has-ground-halt-ground-indicators-confirm-worst-case-scenario


 

***Support BeforeItsNews by trying APeX (far superior to colloidal silver) or any of our four other great health products at www.mitocopper.com ***



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Total 4 comments
    • Slimey

      Chinese brutal people because there is so much of them. Each one can be brute, get a group together and you got a bigger brutal problem. Make them authoritative communist members and you get the ultimate brutality. :wink:

    • Anonymous

      Every repost from you mom’s basement / fearporn clickbait dud factory is “Worst-Case Scenario”. All the same, all 100% wrong all the time.

    • lightwork8

      ASIAN MALES AT MUCH HIGHER RISK____________Reported on BioRxiv on 26-01-20:
      Chinese doctors have discovered the coronavirus is designed to attach to lung receptors that are five times more common in Asian males than in African or Indo-European males. Asian females also have less than half the amount of these receptors than Asian males. The coronavirus was reported to share the same receptor ACE2 (Angiotensin-converting enzyme 2) with SARS. The ACE2 virus receptor is concentrated in a small population of AT2 cells (Alveolar Type 2). It is these cells which are more common in Asian males.

      This goes a long way to explaining the extreme differences we are witnessing in the effects of the virus in China vs countries outside of Asia. It might be more apparent if the numbers affected were broken down into male/female and Asian/non-Asian but it is unlikely we will see these numbers unless they are reported by alternative media. Interestingly though we have not yet seen any reports of the virus in Indonesia which has the fourth highest expat Chinese community in the world (3m) and similarly S America and S Africa remain apparently virus free. _______ https://www.biorxiv.org/content/10.1101/2020.01.26.919985v1.full

    • DK

      I am having extreme difficulty with the figures since there has been a national plan since 2018 banning coal burning in homes, operating restrictions on industries, steel plants have been shutdown over winter and in 2019 shanghai had an increase of 9% in its output compensating for the Beijing shut downs, and its new year, nothing would be back to normal until march anyway and then every city is in quarantine.

      I am wondering what is expected, everyone to be chained to their factory posts until they drop. Mao fought against that in his native city of Shanghai.

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.