Global Markets Moved by China Coronavirus Outbreak

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

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

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...

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...
- 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:  CORONAVIRUS: Sanwo-Olu urges Residents not to Panic, says Patient 'In Stable Condition'

 

- 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.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Read Also:  CORONAVIRUS: W.H.O Commends Nigeria as Lagos urges Residents to remain Vigilant

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

BREAKING: Konga Bulk offers 35,000 laptops, PCs, others at huge discounts Friday

Konga, Nigeria’s foremost e-Commerce giant, is set to make available over 35,000 units of laptops, Personal Computers (PCs), tablets...

Flour Mills of Nigeria GMD acquires shares worth ₦172.2million

The management of Flour Mills of Nigeria Plc disclosed in a statement filed with the Nigerian Stock Exchange that Paul Miyonmide Gbededo, the Group...

Laycon surprises fans with live performance at #OPPOMarketStorm

Global smartphone giant, OPPO Mobile Nigeria hosted thousands of fans and customers at SLOT, Ola Ayeni & SLOT, Medical Road during the #OPPOMarketStorm. The event...

Alibaba Merchants Sell $40B in First Half Hour of Singles Day 2020, More than 2019 Event Full Sales

Singles Day 2020 was a roaring success, cementing its position as the world’s biggest shopping holiday. The event saw consumer spending on Alibaba’s eCommerce...

Top Three PC Vendors Shipped 121.5 Million Units in 2020, Lenovo Leads with 47.1 Million Shipments

Remote working and distance learning amid the coronavirus outbreak continue increasing global demand for PCs and laptops. After a sharp fall in the first...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Global Markets Moved by China Coronavirus Outbreak - Brand SpurGlobal Markets Moved by China Coronavirus Outbreak - Brand Spur