At this point, I would not be surprised if the Tokyo Olympics gets delayed.
As we head into the third month of the coronavirus disaster, I think we’re starting to see the economic ramifications from the global supply chain being effectively shut down. China is such an integral part to practically everything the world runs on that sooner or later the consequences of the country-wide lock down will start showing up. Apple have already served caution for its next quarter’s revenue due to production delays and lack of demand in China. The world’s largest mobile phone show - Mobile World Congress - is cancelled, probably because the huge contingent from China is unable to travel to Barcelona. The Formula One grand prix in Shanghai is heading towards cancellation.
My brother, who works at a Toyota dealership, tells me there’s currently a huge shortage of hybrid models, presumably due to disrupted raw material supply in China for the batteries. The situation is not ideal for him and Toyota because the company’s hybrid cars are some of its best sellers.
The stock market in the States is still at all-time highs, though I suspect with the looming cliff of quarterly reports from companies since the coronavirus outbreak, the markets might not look so rosy in a few months’ time (I’m not a professional advisor; please do your own research).
I think we take for granted how crucial China is to the smooth running of the rest of the world, so quick and easy it is to hate on China because of its communist one-party rule, that we don’t think of what can happen when that gets taken away. Unfortunately, we’re all about to find out soon enough. Personally I’ve already eliminated any thoughts of traveling abroad this year; until the corner is turned on the coronavirus, going to Asia is effectively impossible.
I suspect holding the Tokyo Olympics on-time will largely hinge on this.
Porsche really hit it out of the park on the styling of the current-generation Panamera sedan.