The Sun is Setting on Japan and India
Japan and India are both sliding into recession. Japan lost 6.3% of their GDP in 2019 and India depends on imports from China. Chinese production is being shut down by the Coronavirus.
Via Zerohedge,
“One look at the latest GDP print out of Japan, and one would think the country's economy was already being ravaged by the coronavirus: at -1.6% Q/Q and a whopping -6.3% annualized - nearly double the 3.8% estimated drop - this was the second worst GDP print since the financial crisis and the second-worst quarter of the Shinzo Abe era, surpassing even the drop in the aftermath of the Fukushima disaster.”[1]
Shruti Srivasrava of Bloomberg writes in an Feb 17 article entitled China Shutdown to Ripple Across India From Drugs to Electronics,
“India, the world’s second-most populous nation, is facing the ripple effects of shutdowns in China with production of medicines to mobile phones being hit as supply chain disruptions prolong.
[…]
Inventory with manufacturers would last for about two weeks and production will start suffering when they run out of critical components like printed circuit board, camera modules, semi-conductors, resistors and capacitors, Mohnidroo added.”[2]
The world faces a depression. Central banks will print money to try to keep the party going.
[1] https://www.zerohedge.com/economics/japan-unexpectedly-reports-terrible-gdp-it-slides-recession
