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: ReutersUS 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

Anthony Rowley
Anthony Rowley

Updated: 3:32am, 27 Jul, 2020

Why you can trust SCMP
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: ReutersUS 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
READ FULL ARTICLE