Earlier this week, share prices around the world declined significantly because the Chinese coronavirus (Covid-19) has started to spread meaningfully outside of China. At the time of writing, there are two infection clusters in northern Italy and in South Korea.  The Covid-19 impact on global economic growth was already likely to be significant, even before the apparent spread of the virus to Europe and elsewhere. Chinese Q1 GDP growth is likely to print well below 6 per cent; some estimates put China’s Q1 growth at around 4 per cent year-on-year. This is well below the 6 per cent target and…

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