Will virus scare cause serious economic problems?

Silver Surfer

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Apart from the health issues regarding the new coronavirus, there is also a potential economic issue.

The first major airlines have stopped flying to China and more will follow.

Airline employees are putting their feet down and demanding that their bosses halt flights to China, as more than a dozen airlines around the world have already done. Air France cabin crew unions have demanded Air France stop flying to China, Reuters reports.

In China loads of factories are closed because people are staying indoors.

All these things must have terrible consequences for the world economy.

Even complete cruiseships with 6000 people on board are stopped.


So what do you think will happen to the economy?

 

Sparhawk

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You usually do see a kind of domino- or ripple effect with these types of things. Often, there are knock-on effects with regards to the economy and various marketplace sectors due to the spread of something like a nasty virus. I'm not sure how devastating the coronavirus will ultimately prove to be, and I suppose how dangerous it winds up being will determine the seriousness of these effects. It doesn't seem to be quite as scary as Ebola yet.

 

Silver Surfer

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From an economic point of view this virus has had a bigger impact on the economy then ebola. Now the whole world seems te be very jumpy and the US has now confirmed its first human to human transmission.

 Rumors that surfaced in recent days have been confirmed: the CDC said Thursday afternoon they have confirmed human-to-human transmission of the coronavirus in Chicago - meaning the US has now joined Germany, Japan, South Korea and Thailand in having confirmed human-to-human transmission outside China.

 

JohnD

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Yes it will cuase economic problems. I happened 10 years ago and with the A-H1N1 virus, it caused a lot of loses, and was a tamer virus, ths new one is stronger and more dangerous, it will go worse for some months.

 

Sparhawk

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All the major indices are back in the green as of today, maybe there is finally a turnaround coming. It was looking pretty hairy there for a minute.
 

Lucky

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All the major indices are back in the green as of today, maybe there is finally a turnaround coming. It was looking pretty hairy there for a minute.
Market has been doing poorly as of late. I think because of the fact that the virus is affecting China in the way that it has and will in the future, people are anticipating that those economic effects will impact us as well, seeing as we (the USA) do a LOT of business with China.
 

Silver Surfer

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Market has been doing poorly as of late. I think because of the fact that the virus is affecting China in the way that it has and will in the future, people are anticipating that those economic effects will impact us as well, seeing as we (the USA) do a LOT of business with China.
The effect in the US could be far more reaching than you would think. China has sort of come to a total standstill and nobody knows when production and transport will be back to normal levels.

And then you have this:

80% of present medicines consumed in the United States are produced in China. This includes Chinese companies and foreign drug companies that have outsourced their drug manufacture in joint ventures with Chinese partners. According to Rosemary Gibson of the Hastings Center bioethics research institute, who authored a book in 2018 on the theme, the dependency is more than alarming.

And that is a lot more worrying than the virus itself
 

Lucky

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The effect in the US could be far more reaching than you would think. China has sort of come to a total standstill and nobody knows when production and transport will be back to normal levels.

And then you have this:

80% of present medicines consumed in the United States are produced in China. This includes Chinese companies and foreign drug companies that have outsourced their drug manufacture in joint ventures with Chinese partners. According to Rosemary Gibson of the Hastings Center bioethics research institute, who authored a book in 2018 on the theme, the dependency is more than alarming.

And that is a lot more worrying than the virus itself
Wow! I did not know that fact about the drugs. If things keep progressing how they are (especially in China), that is definitely something that could be a significant problem for us.
 

GAJJELA

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Outbreak of coronovirus, there are a lot problems which we will have to face now because it's prevailing fast so there is huge economic crisis in outside. China,has a lot business market in world market, is first place in manufacturing sector so every country has to depend on China. Now China is suffering a lot from Virus so there is huge crisis which will be there until finding medicine for it.
 

Silver Surfer

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Wow! I did not know that fact about the drugs. If things keep progressing how they are (especially in China), that is definitely something that could be a significant problem for us.
There's not just the dependency, there's also the threat China is now using to cut of the supply in terms of the ongoing trade war.


Outbreak of coronovirus, there are a lot problems which we will have to face now because it's prevailing fast so there is huge economic crisis in outside. China,has a lot business market in world market, is first place in manufacturing sector so every country has to depend on China. Now China is suffering a lot from Virus so there is huge crisis which will be there until finding medicine for it.
It is moving fast, less than two miles from where I am now they have discovered some infected people.

So, maybe I'm in total quarantaine soon
 

GAJJELA

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China also is also taking more steps to prevent the speeding virus so fas thousands of people infected and treating them well. You would better take care yourself.
 

Silver Surfer

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China also is also taking more steps to prevent the speeding virus so fas thousands of people infected and treating them well. You would better take care yourself.
I hope that once the weather gets a bit nice, this virus will disappear, just as the flu virus does every year.
 

GAJJELA

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We both are thinking same hope once weather is good everything will be I hope.
 

Eddie88

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People are getting afraid to do anything with this virus around. The news is full of it. Non stop news stories about it.
 

GAJJELA

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Situation is like that outside. Yes it is non stop news so better take care of ourselves to maintain precautions to avoid infecting virus.
 

Silver Surfer

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I have now 4 cases less than 3 miles from where I live.

It keeps spreading, won't be long before it's on our doorstep I think.

Most of the people infected here have been to northern Italy.
 

GAJJELA

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We have got a few cases positive in India as of now 39 cases. Day for day number is increasing in India.
 

Eddie88

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What I don't understand, is why Iran has 15% mortality rate with the corona virus. Everywhere else is like 2-4%. What makes that country so different? 15% is very scary.
 

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