Home World News Economic relief on the cards as Chinese factories reopen

Economic relief on the cards as Chinese factories reopen

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Australia’s embattled economy has been given a small reprieve as China’s once-quiet factories whirr back to life.

The rapid spread of the coronavirus through the country forced many manufacturing hubs to close at the start of the year, decimating expectations for the sector’s future.

But key economic indicators, such as electricity consumption and road congestion, are now pointing to a gradual recovery according to Reserve Bank deputy governor Guy Debelle.

And workers are reportedly queuing in front of major factories, hoping to find work.

Professor James Laurenceson, from the University of Technology Sydney’s Australia-China Relations Institute, said many Australian industries will benefit from the recovery in Chinese production.

“The Chinese government made some awful mistakes at the start by shutting down the free flow of information,” Professor Laurenceson told The New Daily.

“But once they admitted the extent of the problem, they do deserve some credit for getting the virus’ spread under control.

“I think we’ve probably got another one or two months in China before they’re back to their peak [manufacturing capacity].”

That spells good news for Australians as it means fewer disruptions to supply chains.

What’s good for Australia must be good for us. Good to see the Chinese are getting back to normal. Do you believe it?

16 COMMENTS

  1. I hope so. It’s not a normal financial crisis, our leaders chose to create it by switching everything off. They can choose to switch everything back on again, and hopefully they will do so before the pain gets too bad….

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  2. Logistics operations in China are spun up / spinning up again, things are starting to be delivered, picked up, etc. Also note the Asian stock markets are mostly behaving. I’ve only glanced at them briefly, but my general impression is that most of Asia is just getting on with things compared to the flat panic, rush for toilet paper the West seem to be afflicted by. Maybe the fact that our media is selling disaster porn and left leaning, so have no real clue.

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    • The Nikkei 225 average has been bleeding out for the last couple of weeks. Currently around 16,480 yen. If it falls below 12,000 yen, the alarm bells will start to ring.

      In the meantime, the $NZ (and the $A) are dropping vis-a-vis the yen. Suits me fine. I get paid in yen. (If I have any work, that is.)

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  3. ”Do you believe it?”…… – I really want to but will wait until China’s air pollution map returns to 2019 levels which so far show clear skies and a lonely woman walking the streets of Wuhan under clear skies.

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  4. Cindy is happy to use this virus to force thought her extreme abortion law. Any Adams supported her. There is no way I would have been a National Party member if Adams had of been leader. She has no conscience. She was the Minister of Justice who was happy to pay Bain almost a million dollars. Collins would never done that.

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      • nasska, I would be happy to see safe zones. I do not think women choosing legal abortion should be harassed.

        Do you support killing babies who survive botched abortion should be kept alive or left to die?

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        • Firstly, apologies to our host for dragging this thread off topic.

          ……”I do not think women choosing legal abortion should be harassed.”……

          Good for you & again I apologise if I included you with the religious cretins who harass women seeking a medical procedure. I note with surprise that on DPF’s thread concerning the passing of the bill one of the most Godaddled commenters I’ve ever crossed comments with, one KevO’Brien, expressed the same opinion.

          …..”Do you support killing babies who survive botched abortion should be kept alive or left to die?”……

          There is no way to give a yes/no answer to this as it is a question posed & well choreographed by the “pro-lifers” designed to squeeze every mawkish drip of sentiment out of a rare if hypothetical situation. What I will say is:

          1) Abortion is a matter between a woman & her medical practitioner & no-one else.

          2) The British law we live under has never given legal standing to human life prior to birth.

          3) My opinion for what little it’s worth to the overall scheme of things is that abortion should be freely available in the first trimester, rare in the second & in the third only undertaken to save life of the mother. I accept that the “life & mental health” provisions used over the past couple of decades is a sham but it was the only way to keep old, religious men from dictating the use of a female’s body.

          4) I prefer the opinions expressed at https://www.familyplanning.org.nz/media/304150/abortion-law-reform_what-you-need-to-know_august2019.pdf particularly:

          ……”These abortions are carried out due to congenital abnormality, perinatal infection, antepartum haemorrhage, maternal conditions, specific perinatal conditions, fetal growth restriction and spontaneous preterm rupture of membranes”…….

          IOW the foetus is non viable.

          5) The ready availability of first term abortion should make later terminations rare.

          Hope this gives my position.

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          • There are areas I support you. The old legislation was not perfect. No legislation is. However, one the thing that really got me wound up is the thing you refuse to talk about. That is allowing a baby from a botched abortion to be killed or left to die as happens in the US.

            Do you deny that it happens in the US?

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            • I have read accounts that suggest that it may have happened but I have little trust in the authors.

              But if it happens sometimes yet obviously not others it may suggest that the medical procedures are not what they should be. This reinforces my stance that it’s a medical matter that should be addressed by doctors rather than dictated by a bunch of old men who will get pregnant.

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              • nasska, when I heard Simon O’Conner raise this issue I though it may have happened one or twice in the US. However, when I Googled I found that it has occurred more than that. I am talking about survivors. For every survivor there must be many more babies over 24 weeks who were left to die or were killed. Below is a video of two survivors.

                Abortion Survivors Tell Their Stories Part 1 – Claire Culwell and Melissa Ohden

                https://www.youtube.com/watch?v=0b8aaxp9bQk

                There are other survivors stories on YouTube. This video lasts 30 minutes. I would like to hear if you others think these survivors are making things up.

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  5. There are problems however.
    I talked to an exporter today who said they can’t get empty containers to ship product. This could be a major problem for the kiwifruit and apple industries.
    Maybe a shortage of cool storage this season.
    Things are changing quickly.

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  6. It’s a hopeful sign.

    I’ve just checked out my “nest egg” funds and was happy to see that they haven’t taken a huge hit from the recent plunge in the sharemarkets. A “little bit of bruising”, not much more….. 🙂

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