A week ago, many in Asia calculated the odds of a U.S. contraction as still reasonably low. That was despite coronavirus risks and China's abrupt slowdown. However, President Donald Trump's delusional March 11 Oval Office address, which aimed at calming the situation but only served to inflame it, depicted a White House fiddling as global markets burn.
Now the America First presidency is colliding with the last thing the world needs: a likely sudden and sharp recession in the biggest economy. Asia stands to be a particular loser.