The contagion has reached the forint

I wrote the following summary for the World Economy on Monday 30 March, and these articles are always published here with a one-day delay. Everyone's focused on technical levels 370-375 by now. The exponential phase of currency crises is causing huge swings, even within days. Rand and South African bonds are only one of the first dominoes right now, the question is whether panic or firefighters will be faster.

Chinese concerns

The length of the coronavirus epidemic determines the extent of the decline in the Chinese and the world economy. The first domino escapade is expected to be soon in the global supply chain. Most analysts also agree that the biggest problem will be caused by the epidemic in the first three months of the year. Manufacturing, retail and tourism will suffer the relegation, but there will also be winners, such as the pharmaceutical industry.