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In my view, markets have still not fully priced in the damage from the coronavirus, with some people still talking about V-shaped recovery, the U.S. and Europe are hit by the first wave now, but as you can see in Asia, there could be more waves from re-imported cases. Human psychology also does not quickly recover either after an experience like this.

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    Who said "All warfare is based on deception."?
    A John Rambo
    B Sun Tzu
    C Joseph Stalin
    D Otto von Bismarck