This was one recent article about how the coronavirus will affect the world economy. The writer shared many points to show that the virus will not significantly affect the world economy unless of course the coronavirus is prolonged. Here’s that article: The coronavirus worry. How will it affect the world economy Needless to say I do agree with his assessment though I will have to say that if the peak for this coronavirus does not arrive within February 2020, then many things will change.
Article in malaysia-chronicle.com Economist Soon Hoh Sing told The Malaysian Insight that Japan, South Korea, Taiwan, Hong Kong, the Philippines, Singapore, Malaysia and Thailand are expected to be affected if the outbreak lasts more than three months. The reasons include demand from China will slow down when China experiences a slowdown due to the virus.
We have to note that the consumer spending accounts for 76.2% of its gross domestic product growth in 2018. Soon also shared that most of our tourists are from China and not the US. With regards to locals, he said, “People might not frequent shopping malls, cinemas and crowded places. I believe everyone will go out less, so this will have an impact on the retail industry.” Please refer to a very comprehensive Article in malaysia-chronicle.com
It’s now already the 6th week since coronavirus officially started from Wuhan in China. If we agree that 3 months should be the benchmark, then we have just 6 more weeks left for the peak or even the vaccine to be found. Till then, there’s so much uncertainty. Just look at the panic buying in Singapore will tell us that things could go south very quickly as soon as people feel that the situation is unsafe.
Most important though is to stay objective and stop forwarding those unverified news. Seriously, we do not need even more of these fake news as we could not even keep up with all the real ones. Yes, I personally reprimanded so many friends who forwarded articles without any source. It includes these kind of articles, ‘My wife’s best friend who works in a hospital in Wuhan…” or even “According to nurses working in Wuhan…” Happy understanding and continue praying. Take care and stop buying the whole row of sanitizers in the mall because you are not drinking them.
Next suggested article: Prediction on GDP growth in Malaysia for 2020