In the first two months of this year (January to February), the deadly coronavirus can cause more than $ 6 billion in damage to China. Consumer spending and tourism will play an important role in this regard. These concerns arise from information provided by a former senior IMF official. News: Southern China Morning Post. Zhou Min, who served as Managing Director of the International Monetary Fund, from 20 to 24, said yesterday in an online presentation that China’s tourism industry will suffer an estimated 3 billion yuan in loss during the same period this year compared to January February last year. Coronavirus. In addition, the food and beverage sector loss amounts to 125 billion yuan. Meanwhile, online spending for sectors like education and entertainment services will be drastically reduced.
As a result, the Chinese economy will suffer a total loss of 1.3 billion yuan in the first two months of this year. Zhu Min currently works as the president of the National Institute of Financial Research at Xinghua University in Beijing. In the university presentation, he described the concerns about China’s financial loss in a coronavirus epidemic through an online presentation. According to estimates provided by the National Bureau of Statistics of China, this financial loss amounted to three-tenths of three percent of total retail sales in China. “The growth point in China could drop by a quarter because of this cost decrease in the first quarter of the year,” said Zhu Min. “We need a strong return, and this requires 3 times more effort.” Consumer spending is the cornerstone of the Chinese economy, which accounts for about 5 percent of the country’s growth last year. But due to the Corona virus this year, this goal is still a long way off. However, many of the country’s local governments are not ready to reopen places like cinemas and restaurants that are sectors of spending, but according to estimates made by Zhu Min, the country abandoned the auto industry.
In the first quarter of this month due to the Corona virus, the world’s largest auto market, China experienced an unimaginable crash. It decreased by 42 percent during this time. In the first week of February, auto sales in China fell 5 percent. The China Passenger Car Association (CPCA) says that last year, more than 200 million cars were sold in China, but this time it reached about 5 cars a day. However, even before the virus spread, trade tensions between the United States and China continued to drop car sales in the country. China is the largest auto market in the world. Although the number of new coronavirus patients in China has decreased somewhat, concerns have arisen in other countries in Asia. China and other countries have begun to take strict measures to prevent the spread of the virus, but the death procession does not stop.
Coronavirus transmission is worrying: World Health Organization
The death toll from the virus has risen to 2,000 in the world. The President of the World Health Organization, Tedros Adham Gabrios, has expressed concern about the increasing number of patients who do not have a clear correlation with coronavirus. News: BBC. China’s National Health Commission said four people were diagnosed with a new Coronavirus infection on the country’s mainland on Friday. The day before the number was 5. In total, the number of affected people in China is 9.23. To date, at least 5.8 people have been infected with the Coronavirus, which has brought together 27 countries and three regions. So far, the virus has killed eight people outside the mainland of China. Four of them died in Iran, three in Japan, two in Hong Kong and South Korea, and one in the Philippines, France, Taiwan, and Italy.
The World Health Organization has previously declared the outbreak of the Corona virus as a global emergency. The main WHO concerns arose after the death of two new people infected with the Coronavirus in Iran. Four people have died from crown viruses in the country. Iranian health authorities say the virus can spread to all cities of the country. In addition to Iran, Lebanon is familiarized with the Corona virus by a 5-year-old woman in that country. The patient was also found in the United Arab Emirates, Egypt and Israel. Canada says one of the four patients they met recently returned from Iran. A six-year-old man died of Corona virus in Italy last Friday. South Korean Prime Minister Chung Se Kyun said his country is in an emergency situation. Two new patients were identified with the Coronavirus and two died in the country. The WHO chief says the outbreak of corona virus outside China is relatively low. However, the pattern or pattern in which the disease is transmitted is of concern. Concerns about the number of people infected with the Coronavirus have not come into contact with an infected person or without visiting China. Especially in Iran, the occurrence of new injuries and deaths is very worrying.