China will have more bankruptcies than coronavirus cases

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