The spread of coronavirus outside of China will affect local factories



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The spread of coronavirus outside of China will affect local factories

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The situation in the populated country has begun to stabilize in recent days, with a lull in the number of new cases of coronavirus infection.

This is extremely important from an economic point of view, as closed factories in China can gradually begin to recover. According to new data from Bloomberg News, the reasons for optimism are not so great, as manufacturers in the country face completely different problems. The coronavirus epidemic in European countries and in the US will have serious adverse effects on demand.

Kovid-19 infection is already causing delays on many previous orders and will make it difficult for Chinese companies to try to find new customers. Lack of sufficiently high demand and domestic consumption in Europe and the US is a major problem for many manufacturers.

Much of it relies mainly on consumers in these revenue-generating areas, in some cases 80% of the revenue being tied to European countries and the United States. Low demand in developed countries is expected to have a major impact on China’s economic recovery as the crisis unfolds.

The financial losses from the epidemic could wipe out about $ 2.7 trillion from the global economy if restrictions on free movement worldwide continue. Currently, more than 80% of Chinese trading companies have started operating again.

Low sales outside China and lack of new orders pose major risks to the manufacturers’ business in the country. In conclusion, the possibility of new infections in China has not been completely ruled out. All these processes will lead to an increase in the price of a large number of goods.

The spread of coronavirus outside of China will affect local factories



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