This will be the same case in the U.S. and the west in general. No one will be going to their board for approval of a new project, unless it is Government funded.

I think the economic impact of COVID-19 will make the Great Recession of 2008 look like the "the good old days". USA electrical demand fell ~0.7% in 2008 and 1.6% in 2009. I would not be surprised to see electrical demand to fall over 20% in Q2.

I would expect the same for Europe. China will likely take 3 head blows: 1) The trade war, it was not healthy for a country with rising wages and standard of living to have the debt to GDP they had. This combined with the swine flu and crop losses were and still are deviating. 2) COVID-19 it is obvious the impacts of this virus on the economy. 3) With forecast of over 30 million unemployed in the U.S. and a Q2 GDP drop of 24% forecast by Goldman Sachs, I am expecting about the same for Europe, China will be missing 2 customers. This will result in a very long dry spell.

We could be headed to the economic dark ages, that is after the U.S. floods the world with dollars. The likely hood of very high inflation is almost a given the this happens. We will see the classic case wherein there are lots of dollars reduction in production = inflation.

https://apnews.com/c2a300d64370e3e26dee6e29e337df9c