China will have more bankruptcies than coronavirus cases

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Millions of people around the world face joblessness and major companies are being forced to take major financial assistance from governments. Many small and medium-sized businesses have already closed their doors forever, as many others are forced to contemplate their immediate futures amid the continuing Covid-19 pandemic. Some of the most vulnerable are people who work in the “gig economy”, surviving on part-time jobs, often with no contracts or benefits. John Carter, senior editor with the South China Morning Post’s political economy team, sheds some light on the situation.

www.scmp.com/economy/china-economy/article/3078581/coronavirus-nearly-half-million-chinese-companies-close-first

 

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