Weak economy is host to coronavirus attack

Set against the virus scare and a global market crash, the latest economic numbers presents a scary scenario, especially since the December quarter in a given year is one of the strongest.

The stock markets have crashed, as they do from time to time. Each time it is for a different reason; this time the immediate reason is coronavirus, which started as a Chinese epidemic sometime in December but now has quickly escalated into a global scare. Since the problem is severest in China, it means a simultaneous global demand and supply shock. China not only does a lot of the world’s manufacturing for export but is also a big importer. Strong linkages in manufacturing, trade, and travel across economies, following 30 years of globalisation, mean that trouble in one part of