Will coronavirus outbreak paralyze global economy?

China accounts for almost 1/5 of the world's GDP, naturally there is growing concern about the impact of Cova 19 on the

global

economy

. To find out the extent and duration of the damage, our kim dami spoke to some experts. Here's the first installment of our three-part special. series China has set an ambitious GDP growth target of 6 percent for 2020, but the

coronavirus

will

make it difficult to reach the target. The virus is expected to have a greater impact than the SARS

outbreak

in 2003, which killed 800 people worldwide and killed almost one person. If compared with China's growth with the SARS crisis, the economic impact of the corona virus

outbreak

will

be more acute and deeper.

China's

economy

has grown four times as much since then, accounting for almost 18 percent of the world economy, and it's not just China's problem. China is growing faster than any major economy to become the world's second largest by GDP and there is a China is a key part of a variety of

global

supply chains, the outbreak will have a knock-on effect around the world. And those countries are more reliant on China feeling even more of a shock to the world, the largest smartphone chipmaker warned that the outbreak was causing significant uncertainty about demand for smartphones, as well as the supplies needed to produce them. .

The travel and tourism industry is also among the most vulnerable, almost six million. Chinese visited South Korea last year, but data shows the country could lose a large number of those tourists. The Buddhists have a lord in terms of a GDP growth forecast once again of 2.1 to 1.9 percent. Singapore's Trends Ministry on Monday also cut its GDP Forecast for this year due to the outbreak, but where China's major companies are gradually resuming operations, some believe in a V-shaped impact like this orange crisis; In other words, a sharp decline in economic activities in China followed by a rapid recovery and a full impact on China was relatively contained, therefore, the impact on the global economy was also contained by a rebound after a short and sharp economic shock.

Under certain circumstances, major companies and factories across China may need to resume operations under the Chinese government's systemic economic policies and containment measures, especially the spread of the virus. The virus needs to be stopped, the IMF chief has also warned that our corner of Africa could drag down the global economy and, with uncertainties over the situation in China, G20 finance ministers and central bankers will meet in Saudi Arabia this week to discuss the possible cost of the outbreak kim dami arirang news