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  • Well, the coronavirus emanating from China hit global growth.

  • Could it tip the world into a global recession?

  • It's an interesting question.

  • And it's something analysts have been comparing to the Sars

  • virus that hit in 2003.

  • But the truth is that the world is much different now

  • than it was then.

  • Back then China was still emerging

  • into the global economy.

  • But over the last few years China

  • has made up the biggest percentage

  • of global growth, about a third of total economic growth

  • in the world, which is a higher percentage than the US,

  • Europe, and Japan combined.

  • So what happens in China matters more.

  • That's both a consumer story and a business story.

  • If you look at outbound Chinese tourism,

  • it's a big part of the global tourism story.

  • In the US alone, before the US-China trade war

  • started slowing things, the Chinese

  • were coming as tourists to the US

  • and spending around $7,000 to $8,000

  • over the course of two weeks.

  • That's a much richer impact for tourism

  • than your average tourist.

  • European countries, and particularly Asian countries,

  • are now being hit as Chinese consumers pull back

  • because of the quarantine.

  • But coronavirus isn't just a consumer story.

  • It's a business story.

  • The Wuhan area, Hubei Province, is a huge area

  • for supply chains and logistics, which

  • are already being downgraded off the back of this virus.

  • If there's enough supply chain disruption,

  • China may not be able to meet its new commitments

  • for US purchasing as part of the US-China trade agreement.

  • That would have geopolitical implications,

  • which could further hit growth.

  • Bottom line: look for coronavirus

  • to be a big part of the global economic story this year.

Well, the coronavirus emanating from China hit global growth.

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B1 中級 新型コロナウイルス 新型肺炎 COVID-19

コロナウイルスは世界同時不況に突入する可能性がある?| ラナレポート (Could coronavirus tip the world into a global recession? | Rana report)

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    林宜悉 に公開 2021 年 01 月 14 日
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