China might be opening up slowly after its coronavirus crisis, but the problems are not over, warns super investor Jim Rogers at Platts, as most of their international customers are just at the start of their economic downturn.
Jim Rogers at Platts:
One of the biggest challenges for China as it emerges from the crisis will be their customers. China is one of the largest trading nations in the world. Now Europe is in trouble. Japan is in trouble. America is in trouble. Yes, Japan is opening up. China is opening up again, but their customers are in trouble. So the biggest challenge for China now is to find customers for their factories, for their companies, for everybody. That’s everybody’s problem, by the way.
Are there any other bright spots?
Sometimes the cure is worse than the disease. China’s opening up and many other countries are already opening up. People in Sweden got sick – they are no worse off than other people health-wise but their economy has not suffered as badly. So it seems to me that one lesson from this is that, nobody wants to die. Nobody wants to get sick. But if you just look around what’s happening in the world, closing off does not seem to be the best solution. But we’ll know. We’ll know in a year or two.
Are you looking for more experts on the aftermath of the coronavirus crisis? Do check out this list.