The coronavirus makes China’s economic balancing act even harder

2020 should be the year when China straightens out its heavily indebted economy. But the coronavirus could throw a spanner in that plan, says John Stepek.

(Image credit: 2020 Getty Images)

Markets now see the coronavirus as a buying opportunity. Even by the normal standards of these things, that was pretty quick. Is there no natural hazard, no geopolitical threat, no economic crisis, that the promise of endless liquidity cannot contain?

The US and China shake hands, for now

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.