While Chinese officials have reported signs of slowing the spread of the coronavirus, the negative effects of the disease on the global economy are gradually becoming apparent. (bbc.com)
Mobile phone maker Apple Corps said on Tuesday that disruption to China's economic activity would lead to a decline in production and supply and a drop in profits. A significant portion of Apple products is manufactured in the company's manufacturing units in China.
Singapore Airlines has also said it has reduced its flight plans around the world, especially in the Far East, due to falling demand for air travel due to fears of contracting the disease.
According to Online news Majid Hariri, President of the Iran-China Chamber of Commerce in response to the question that " China's economy is currently hit hard by the outbreak of the coronavirus. Given that China is Iran's largest trading partner, what effect do you think this has on the course of Iran-China trade relations?" said:
To say that the Coronavirus has spread in China and damaged China's economy is an abstract view of world affairs. Other viruses, such as Ebola, swine flu, or bovine madness, are not said to have come from, meaning that no one remembers that the swine flu started in the United States but left because the United States could not control the virus. It involved the whole world and resulted in more than 11,000 deaths. Even cow madness started in England, but no one says cow madness was in Britain because it could not control it.
What has happened in China is that China has been the starting point for a virus epidemic. We have to give credit to China, which has been able to keep the virus in one city and one province; This means that the virus has not spread evenly throughout China and has not been allowed to spread to other parts of the world. Read more
No, it did have some direct losses anyway. For example, about $ 200.3 billion is spent on a hospital, prevention, medicine, and so on. On the other hand, they built a hospital.
Building a hospital in 10 days is very important; Of course, this record had been broken by the Chinese before. I want to tell you that there are several direct effects of the virus and the fight against the virus in the economy, which inevitably come at a cost in terms of treatment and medicine. Domestic tourism and retail, on the other hand, suffered losses. Anyway, it was Eid and people were going to buy. All of this has been a short-term blow to China's economy.
Part of the story is that exhibitions scheduled for China have been canceled until May next year. This is while the biggest exhibitions are held in China. Another blow to China's economy is that many factories are not working; Companies have to pay wages, but nothing is done.
site Radio Farda He has provided an analysis entitled "Corona attack on five key economic points of Iran" which refers to the following:
This note aims to examine the economic overview of this disease on five points of the economy.
The sectors and classes of the Iranian economy that are exposed to public use are the first to be hit and are classified as follows.
Restaurant and Self-Service Class
The latest market situation of this class in the Iranian economy indicates the volume of 24 thousand billion Tomans of this class in the Iranian economy.
Coffee Houses and Hookah Houses
Although there are no official statistics about the guilds that provide this service, in Tehran alone, there are more than three thousand coffee shops with 35,000 employees in this guild, and the number of illegal and unlicensed coffee shops is several tens of times this number in The whole country
Domestic and City Trips
The average number of trips for families in the country is 119 and there are about 250 million long-distance trips in the country annually. 55% of Iranian families travel annually, and these figures belong to household recreational trips in Iran.
Cinema and Theater (Full Story)
On-site bbc.com Also on a topic called "Coronavirus; "Car sales in China fell 92 percent."
And thus stated that:
While the death toll from the coronavirus in China has risen to more than 2,200, the economic consequences of the outbreak continue.
According to the China Automobile Association, car sales in the country fell by about 92% in the first half of this month (February).
The figures come as many car dealerships in China have closed and applicants have refused to buy cars because of the corona.
In the first week of February, car sales in China fell 96 percent; This week, an average of 811 cars were sold per day. (Read more)
Tasnim News "The Coronavirus is hurting the US economy by affecting sales of American products in China, disrupting supply chains and reducing Chinese tourism in the US," said a report entitled "Corona Attack on US Economy in Three Ways". He delivered. ”
1. Sales to China
China is one of the largest markets for American products, especially electronics and fashion goods.
2- Disruption In Supply Chains
China's economy is largely closed, and this is hurting US manufacturers through supply chains.
3. American Tourism Has Been Hit
China tourism has been a major driver of US GDP growth in recent years. (Read more)
And now a question
How did the arrival of the Coronavirus in Iran, and the official announcement of this issue, affect your business? Are you currently more concerned about your health and that of your family? Or the unknown economic situation today and in the future and the state of your business?