Heard on the Street: China is tiptoeing back. Hopes for a speedy recovery in the West once the epidemic peaks may also be misplaced
As the U.S. and Europe confront the bitter toll of the new coronavirus, Chinese citizens are tiptoeing back to their normal lives. A return to the precrisis economic status quo, however, remains far off.
As both the official purchasing managers index and a competing private one produced by Caixin showed this week, China’s economy began growing again in March. But the uptick is coming from a very low base and economists still believe China’s economy contracted about 10% year over year in the first quarter. Moreover, although...
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