An empty shopping centre in Beijing. No amount of monetary easing will spur consumption beyond basic necessities when serious threats to the economy and jobs remain. Photo: Simon Song An empty shopping centre in Beijing. No amount of monetary easing will spur consumption beyond basic necessities when serious threats to the economy and jobs remain. Photo: Simon Song
An empty shopping centre in Beijing. No amount of monetary easing will spur consumption beyond basic necessities when serious threats to the economy and jobs remain. Photo: Simon Song
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

The coronavirus is bringing a painful but much-needed end to an era of economic excess

  • The global economy and its credit-fuelled markets have a long way to fall and things will not return to normal after the epidemic; consumption will not ride to the rescue
  • The hope is that governments, forced to spend to boost the economy, will invest sustainably in welfare, education and other sectors that target inequality

Anthony Rowley
Anthony Rowley

Updated: 3:00am, 9 Mar, 2020

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An empty shopping centre in Beijing. No amount of monetary easing will spur consumption beyond basic necessities when serious threats to the economy and jobs remain. Photo: Simon Song An empty shopping centre in Beijing. No amount of monetary easing will spur consumption beyond basic necessities when serious threats to the economy and jobs remain. Photo: Simon Song
An empty shopping centre in Beijing. No amount of monetary easing will spur consumption beyond basic necessities when serious threats to the economy and jobs remain. Photo: Simon Song
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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