Odey's Tim Bond: Coronavirus optimism is reminiscent of the Global Financial Crisis
Investors and policymakers not prepared for Covid-19 economic damage
Tim Bond of Odey Asset Management
We have been here before. Just as economists failed to sufficiently downgrade forecasts on the eve of the Global Financial Crisis, they are making the same mistake with the coronavirus's impact on the Chinese economy and beyond.
Economists' estimates for Chinese Q1 GDP are slowly coming down, but they remain optimistic. In Bloomberg's compilation of forecasts, Goldman Sachs has the lowest at 2.5% year-on-year for Q1, down from...
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