Cross-post from the Climate Change thread:
www.zerohedge.comChina Has Ground To A Halt: "On The Ground" Indicators Confirm Worst-Case Scenario
Quote:
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Morgan Stanley suggested that real time measurements of Chinese pollution levels would provide a "quick and dirty" (no pun intended) way of observing if any of China's major metropolises had returned back to normal. What it found was that among some of the top Chinese cities including Guangzhou, Shanghai and Chengdu, a clear pattern was evident – air pollution was only 20-50% of the historical average. As Morgan Stanley concluded, "This could imply that human activities such as traffic and industrial production within/close to those cities are running 50-80% below their potential capacity."
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If China doesn't stop the contagion in two weeks, half their banks will fail (source forgotten
). I suspect we've seen the peak of air travel for some time.