Al Jazeera

Al Jazeera 28 Jan 2020

What's the economic impact of China's coronavirus outbreak?

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China is taking desperate measures to try to contain the coronavirus.
Cities are in lockdown, including Wuhan where the outbreak originated. Shops and businesses are closed. And millions of people are banned from travelling.
The government has stopped its citizens joining overseas tour groups in an attempt to prevent the virus spreading abroad…but it already has, with a number of countries, including Thailand, Germany, Japan, and the United States reporting confirmed cases.
So what price is China paying for the coronavirus outbreak?
And what will the impact be on the global economy?

Presenter:
Halla Mohieddeen

Guests:
Einar Tangen, Investment banker and political analyst.
Rajiv Biswas, Asia Pacific Chief Economist for the risk consultancy I-H-S Markit.
Gareth Leather, senior economist specializing in emerging markets at Capital Economics.


Major tech conferences around the world are scrapping their events due to coronavirus. As of early March, the economic impact of these cancellations had surpassed $1.1 billion and since that time, the number has only increased as more events are scrapped everyday. Major cities from San Francisco to New York have banned large gatherings, as diagnoses in the U.S. have soared. It's undoubtedly a smart move for public safety. But all these cancellations, particularly of major conferences, are taking a huge financial toll.
CGTN's Rachelle Akuffo spoke with Sean Stein Smith, Assistant Professor at Lehman College, City University of New York, about the economic impact of COVID-19 in the United States.
The Trump administration is working on an economic proposal to stimulate the economy that could be worth upwards of $1 trillion. One America's Stephanie Myers caught up with Jay Young, the CEO of King Operating Corporation and the author of "The Upside of Oil and Gas Investing, to get his take on the economic impact of the pandemic.
The World Economic Forum has been collating expert opinion on the impact of the coronavirus crisis.…

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