Coronavirus has hit China, but Beijing will react
The Coronavirus has hit China, but Beijing will react: RsA comments on the recent days for https://financialounge.repubblica.it/. Lorenzo Riccardi, managing partner of RsA Asia and a resident of Shanghai for 14 years, talks about China which is trying to contain the contagion and the risks for those who work and invest in the country. "These are very complex days, with the authorities putting in place all the necessary procedures to limit the spread of the coronavirus and at the same time guaranteeing future economic activities."
Those who live in China know that reactivity is a fundamental characteristic of the Chinese people, and certainly the commitment is maximum. However, the dimensions and scale involved are very different when contrasted to Europe: an area like that of the Hubei region is equivalent to an entire European nation, both with regards to GDP and to area. However, the Chinese government usually reacts immediately and effectively. The economy will slow down in the short term, but I am confident in a recovery, as China’s economy is symbiotic to the world’s economy; if China stops producing, the products we use all over the planet vanish.