As with so many debates about how Democrats could win support from working-class voters, Brooks presents a false choice between class and culture that betrays his inability to make sense of how class works.
Brooks chastises Sanders for misunderstanding capitalism, but Brooks misunderstands how closely class and culture are intertwined. I've spent the last 25 years studying that relationship, especially the way economic restructuring didn't just undermine the social position of working-class people but also brought changes to working-class culture. Many of the "conservative values" Brooks identifies are tied to economic conditions.
Quite a lot has been going on:
Coronavirus may drag China econ growth below 5%- gov't economist | China News | Al Jazeera
"GDP growth in the first quarter of 2020 could be about 5.0 percent, and we cannot rule out the possibility of falling below 5.0 percent," Zhang said.
Zhang, an economist at the Chinese Academy of Social Sciences - a top government think-tank - said his forecast was based on the assumption that the outbreak will peak in early to mid-February and end by the end of March.
China's growth slowed to a near 30-year low of 6 percent in the fourth quarter, and analysts have said they expect the epidemic to drag on the economy.
Newsletter: Coronavirus Spreads, Fed Holds Steady - Real Time Economics - WSJ
This is the web version of the WSJ's newsletter on the economy. You can sign up for daily delivery here. Investors Worry as Coronavirus Spreads Stocks fell Thursday on fears that an increasingly severe outbreak of the coronavirus originating in central China may impact global growth prospects. So far, more than 7,700 people, mostly in China, have […]
U.S. Economy Heads Into 2020 With Steady Growth - WSJ
WASHINGTON—The U.S. economy headed into 2020 on a solid footing, with growth settling back to the roughly 2% pace that has prevailed during the decade-old economic expansion.
Gross domestic product—the value of all goods and services produced across the economy—grew 2.3% last year, after rising at a seasonally and inflation-adjusted annual rate of 2.1% from October to December, the Commerce Department said Thursday.
Many things are taking place:
As Virus Spreads, Prospect of Economic Hit Drives Stocks Lower - The New York Times
Fears that a mysterious and fast-moving virus in China could impact the global economy drove another global sell-off in stocks on Thursday.
The concern among investors is that efforts to slow the spread of the virus will dampen economic activity inside China and possibly elsewhere.
Airlines are suspending flights to the country, and global businesses are temporarily shuttering stores and factories there and warning of the possible financial impact. On Wednesday, Microsoft's head of investor relations cautioned that a slowdown in computer manufacturing — because of a longer-than-expected shutdown of factories — could affect sales of its Windows software in the United States.
Bloomberg - Are you a robot?
San Diego consumers begin to feel economic impact of coronavirus outbreak | cbs8.com
"On January 16th, it made it to the shipper, according to China post tracking. It has been sitting there ever since," she said.
Her package is awaiting delivery in Changsha, China – about three hours out of Wuhan, where the virus started.
University of San Diego economics professor Alan Gin said the interruptions in the supply chain could also impact major American tech companies – from Apple to Google to San Diego based Qualcomm.
Coronavirus cases in China overtake SARS and impact could be 'more severe'
The number of coronavirus cases in China has already surpassed that of SARS, and the economic impact of the new virus from Wuhan could be more severe than the 2002-2003 epidemic, or at least similar, according to economists.
It took more than 6 months for the number of SARS cases to surpass 5,000 in mainland China. China had 5,327 SARS cases between Nov. 1 2002 and July 31 2003, according to the World Health Organization.
On the other hand, it's taken about a month for the number of new coronavirus cases to climb past 5,000 on Tuesday. The new virus was first officially reported in the Chinese city of Wuhan on Dec. 31.
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