Opinion | If you want to know how badly the coronavirus is about to devastate the US economy, look at China. By lopezlinette.
All of this means that the economy is still weak and that recovery will mean a longer harder slog thanForget what the jobs number was last month, or what consumer confidence was doing, or whatever earnings estimates you had for US companies. Throw all of that out the window.
but the wider economy was able to keep chugging along because our service sector is a much bigger contributor to economic growth. So Americans kept buying stuff. This is where the US and Chinese economies look the same. In both countries families and businesses desperately need cash now.
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