A worker wearing a protective suit takes body temperature measurement of a man inside the Shanghai Stock Exchange building on February 28. Even before the coronavirus scare, it had already begun to look like a question of when, rather than if, a debt crisis would erupt. All that was missing was the “trigger”. Photo: Reuters A worker wearing a protective suit takes body temperature measurement of a man inside the Shanghai Stock Exchange building on February 28. Even before the coronavirus scare, it had already begun to look like a question of when, rather than if, a debt crisis would erupt. All that was missing was the “trigger”. Photo: Reuters
A worker wearing a protective suit takes body temperature measurement of a man inside the Shanghai Stock Exchange building on February 28. Even before the coronavirus scare, it had already begun to look like a question of when, rather than if, a debt crisis would erupt. All that was missing was the “trigger”. Photo: Reuters
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

A coronavirus pandemic may well be the trigger for the long-feared global debt crash

  • A pandemic would hit confidence, possibly prompting lenders to raise rates, recall loans or simply stop lending, just when governments and companies are neck-deep in debt and desperate to borrow more to stay on their feet

A worker wearing a protective suit takes body temperature measurement of a man inside the Shanghai Stock Exchange building on February 28. Even before the coronavirus scare, it had already begun to look like a question of when, rather than if, a debt crisis would erupt. All that was missing was the “trigger”. Photo: Reuters A worker wearing a protective suit takes body temperature measurement of a man inside the Shanghai Stock Exchange building on February 28. Even before the coronavirus scare, it had already begun to look like a question of when, rather than if, a debt crisis would erupt. All that was missing was the “trigger”. Photo: Reuters
A worker wearing a protective suit takes body temperature measurement of a man inside the Shanghai Stock Exchange building on February 28. Even before the coronavirus scare, it had already begun to look like a question of when, rather than if, a debt crisis would erupt. All that was missing was the “trigger”. Photo: Reuters
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Anthony Rowley

Anthony Rowley

Anthony Rowley is a veteran journalist specialising in Asian economic and financial affairs. He was formerly Business Editor and International Finance Editor of the Hong Kong-based Far Eastern Economic Review and worked earlier on The Times newspaper in London