A million more people are returning to work in China's biggest cities—and all eyes are on Shanghai. Can the city keep its lid on Covid-19?
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On February 20, roughly 28% of the workforce in tier 1 cities like Shanghai had returned to work. By Monday this week, it reached over 31%. Given Shanghai’s importance to China, and its role as financial services hub in the country, coronavirus cases will be under the microscope. If they rise to 1,000 in the weeks ahead, a likely scenario given the number of people trying to return to their normal routines, markets will be pondering Beijing’s response.
in Brazil on February 23, 2020. Ironically, one person in Sao Paulo caught the disease while in Italy. Italy is next, making itself the epicenter of the outbreak in Europe. A Brazilian adult who had been in Italy during the outbreak got infected with the virus there and is the first person in Brazil with Covid-19.
“This echoes Beijing's call for accelerating the resumption of business activities in regions less affected by the outbreak,” Nomura analysts led by chief China economist Ting Lu wrote in a note to clients.
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