The global economy could now be heading toward its first recession in just over a decade. FMTNews China
“If the virus sets off a chain reaction of economies around the globe entering a recession, China will feel the blow from shrinking demand,” said Ge Shoujing, a senior analyst at the Reality Institute of Advanced Finance in Beijing. “A further slump in assets around the world will surely be a drag.”
But with the coronavirus outbreak spreading across continents, China has less control should global growth be derailed. The loan prime rate, which underpins the majority of new household and corporate loans in China, may offer a clue on borrowing costs. The next 1-year and 5-year rates will be set on Friday, with analysts predicting costs will be lowered for both tenors.
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