Shanghai Disney grand opening at 20% capacityIf this is an example of reopening commerce then global commerce is in incredibly serious trouble. The celebrated Disneyland Shanghai grand reopening was “sold out” at 20% capacity. Temperature checks were done and loudspeakers constantly reminded patrons to social distance. There were no fireworks or parades and rides were filled with gaps to maintain separation. You can read the article to get the sense of “fun” this grand reopening provided.
Many will argue this is just the first step in getting us back to normal. I would argue normal is very far away and most do not appreciate this, certainly the stock market doesn’t. And how many businesses can make a profit under such restrictions? Can restaurants survive at 50% capacity for instance. Soon enough critical mass will form on the true understanding of the depths of long-term challenges and risks the global economy faces.
This is all extremely energy bearish. Invest accordingly. JMHO. GLTA.
https://www.reuters.com/article/us-health-coronavirus-china-disney/all-masks-no-fireworks-shanghai-disneyland-in-muted-reopening-after-coronavirus-closedown-idUSKBN22N04W