US shoppers wear masks at a Walmart store in New Jersey on July 20. Governments in the US and Europe have initiated fiscal and monetary stimulus aimed at boosting consumption and preserving employment as the coronavirus hits their economies hard. Photo: Reuters US shoppers wear masks at a Walmart store in New Jersey on July 20. Governments in the US and Europe have initiated fiscal and monetary stimulus aimed at boosting consumption and preserving employment as the coronavirus hits their economies hard. Photo: Reuters
US shoppers wear masks at a Walmart store in New Jersey on July 20. Governments in the US and Europe have initiated fiscal and monetary stimulus aimed at boosting consumption and preserving employment as the coronavirus hits their economies hard. Photo: Reuters
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

Coronavirus crisis puts ‘immune systems’ of market and state capitalism to the test

  • While the US economy is predicted to contract 8 per cent this year, China’s GDP is expected to grow slightly
  • Governments around the world should take their cue from China and boost investment in infrastructure

US shoppers wear masks at a Walmart store in New Jersey on July 20. Governments in the US and Europe have initiated fiscal and monetary stimulus aimed at boosting consumption and preserving employment as the coronavirus hits their economies hard. Photo: Reuters US shoppers wear masks at a Walmart store in New Jersey on July 20. Governments in the US and Europe have initiated fiscal and monetary stimulus aimed at boosting consumption and preserving employment as the coronavirus hits their economies hard. Photo: Reuters
US shoppers wear masks at a Walmart store in New Jersey on July 20. Governments in the US and Europe have initiated fiscal and monetary stimulus aimed at boosting consumption and preserving employment as the coronavirus hits their economies hard. 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