A corrigendum has been added to the article.
Thousands of people have been infected and hundreds have died in the coronavirusets days. By far the worst affected is China, where the outbreak started in the city of xi’an, at the end of last year, according to the BBC.
In an effort to stop the spread of infection, the 16 chinese cities, with more than 50 million people – has been isolated from the rest of the world. Many of the businesses have been closed over the chinese new year, and now the Chinese government has extended the ledigheterna in 14 of the country’s provinces. The provinces representing at least two-thirds of its economic output, according to data from Bloomberg, and Time magazine.
It makes a drastic impact on the manufacturing sector.
Apple has temporarily closed its 42 retail stores in mainland china. Photo: Ng Han Guan/associated press
at around 17 per cent of the world’s economic output and is the leading exporter of apparel and textiles. Also, a big part of all of the computers and basically all of the Iphones have to be manufactured in the country. Automakers such as General Motors and Honda, both of whom have factories located in Chengdu, is trying to determine when they can start production again.
the Outbreak is affecting also to the other companies that are dependent on manufacturing in China, and will soon be required to put the orders in order to secure the goods before the season.
”A lot of our customers are choosing a wait-and-see, and slow to place orders, out of concern for the coronavirus. Therefore, we are likely to miss out on the peak season of sales for Europe in march,” said Cash, linköping university, director of badtunnetillverkaren Shenzhen Kingston Sanitary Ware, to the Conference.
as to the domestic consumption.
China’s 1.3 billion-large population, it accounts for the largest consumption in the world of some of the products like liquor, cars and luxury goods. But now, a lot of businesses are closed. “The company has temporarily closed down all its stores in the republic of china, while Starbucks has closed more than 2,000 of its restaurants.
the Virus struck in a particular shoppingintensiv period of time, in conjunction with the chinese new year is a key period for the country’s economic growth.
While tourism is suffering in both China and abroad.
a number of countries to discourage their citizens from travelling to China, and a number of carriers, SAS and British Airways have set up the flight. Countries such as the Philippines and Singapore have closed their borders to travelers from China’s Hubei province, Russia, and Pakistan closed the border with China.
British Airways has halted all flights to and from China. Photograph: Matt Dunham/AP
the Chinese people are spending the most money out of all of the nationalities represented in the international tourism industry. By 2018, they made $ 150 million overseas trips worth 277 billion us dollars (nearly 2.676 billion).
in Asia, Chang Shu, a estimates that the decline in consumption, reduced investment, and stops the production can be cut China’s GDP growth to 4.5 per cent in the first quarter of the year. This is the lowest figure recorded since the kvartalsmätningarna was started in 1992 and can be compared to a 6% growth in the last quarter of 2019, according to Bloomberg.
She added that Hong kong will be affected the most by the dominoeffekterna, followed by south Korea and Japan. The calculations are assuming that the outbreak is only within China’s borders.
at the School of economics and management at Lund university, sweden, also appeared in 2006 in the EU-report, which focused on how a pandemic would affect the economy of Europe. So far, the coronavirus has not developed into a pandemic, but if this is the case, estimates of the Lars Jonung, economic growth in Europe as well as in the rest of the world will be reduced by 1 to 3 percentage points in one year.
“for the countries of the World are, today, linked in a production chain, which means that no country can insulate itself from the effects of a severe pandemic,” he said. , Lars Jonung, is attached to the School of economics and management, Lund, sweden. Photo credit: Peter Nerström Private
the Experience from previous pandemics shows that the impact is greatest on the side where people are not going to work. There will also be a reduction in demand, as they are traveling less and staying home from events such as concerts and sporting events. However, it is difficult today to predict the effects of a coronavirus as it is in the proportion of the working-age population that is infected, the mortality rate will be, and how many work weeks are lost to those who remain at home in case of illness, ” he says.
for more information: Amina Manzoor: the Next pandemic could be just around the corner, and we don’t know how severe it will be.
Lars Jonung, that pandemiernas effects on the economy are relatively short-lived, and tend to be one or two quarters of the year. He is also the parallel with sars, that began in 2002 in China and did not last for long.
” we See the return of sars, we see no significant impact on the economic data. Now, there is krisstämning, but six months down the line, I hope that we have started to forget about this virus, ” he said.
He said, however, that it is not possible to estimate the human toll, the financial costs involved.
if you’re Going to judge by past impacts are expected to travel to the rest of the world will decrease. We will, in particular, to travel less to Asia and primarily to Thailand because Thailand is a main source of the chinese tourism industry. In the short term, there may be a boost for the tourism industry within the uk.
Sharply, share prices for the Electrolux group, warns of the effects of coronavirus.
< Almega asks: ”Work from home in the two weeks after the china trip.”
Industrijättarna close to the department stores and retail outlets in China.
Correction: the Percentage has been changed to a percentage in one of two places in the article.
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