Global Markets Moved by China Coronavirus Outbreak

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

List of First Bank of Nigeria Sort Codes in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...
- Advertisement -

As the World Health Organization has elevated the global public health threat level posed by the coronavirus to ‘very high’ (China) and ‘high’ (rest of the world), global economic health is also beginning to suffer. The number of people affected by the coronavirus globally may seem relatively small — just over 360 deaths and 17,290 people infected — yet without containment, especially to avoid spread to countries with weaker healthcare systems, the human (and economic) toll could rise rapidly into a full global epidemic. 

As the second-largest economy in the world, the spread of the virus through China has already echoed in the global markets. On January 21, trading volumes on the stock exchanges in Hong Kong, Shanghai, and Shenzhen decreased by 2-3.5 percent. A week later, as the number of cases continued rising, the virus reverberated on the FTSE 100 and with global oil prices. Prices of safer assets, such as gold, however, have increased.

As the virus continues its spread, concerns are only exacerbated with regard to China’s economic sustainability, which is already stressed because of slowing GDP growth, African swine flu ​outbreak, and the trade war with the United States.  Hubei province, where the virus started,  is one of the largest provinces in China accounting for 4.3 percent of the country’s GDP and a nearly equal share of the country’s population. For comparison, the avian flu outbreak in 2003 affected much more economically significant regions of China — the Guangdong province and Beijing — which represented 13 percent of China’s GDP.

Read Also:  IITA prepares to provide strategic support to governments during COVID-19 pandemic

 

- Advertisement -
Global Markets Moved by China Coronavirus Outbreak - Brand SpurGlobal Markets Moved by China Coronavirus Outbreak - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

Read Also:  UNAIDS, UNICEF and WHO urge countries in Western and Central Africa to step up the pace in the response to HIV for children and adolescents
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Global Markets Moved by China Coronavirus Outbreak - Brand SpurGlobal Markets Moved by China Coronavirus Outbreak - Brand Spur

Latest News

Borderless Work: Avon HMO Partners With HR Expo Africa

Recognizing staff wellbeing as a bedrock of organizational performance, Avon HMO was a proud partner at the just concluded...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Global Markets Moved by China Coronavirus Outbreak - Brand SpurGlobal Markets Moved by China Coronavirus Outbreak - Brand Spur