Will coronavirus outbreak paralyze global economy?

China accounts for almost 1/5 of world GDP. Naturally, there is growing concern about the impact of 19 de Cova on the world

economy

. To find out the extent and duration of the damage, Kim Dami spoke with some experts. This is the first installment of our three-part special. series China has set an ambitious 6 percent GDP growth target for 2020, but the

coronavirus

will

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

outbreak

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

outbreak

will

be sharper and deeper.

China's

economy

has grown four times since then and accounts for almost 18 percent of the world economy and it's not just China's problem. China has a 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 ripple effect across the world and Those countries are more reliant on China feeling even more of a shock the world's largest smartphone chipmaker called warned that the outbreak was causing significant uncertainty about demand for smartphones, as well as the supplies and industry needed to produce them. travel and tourism is also among the most vulnerable nearly six million people from China visited South Korea last year, but data shows the country could lose a large number of those tourists.

Buddhism has a lord when it comes to forecasting GDP growth once again at 2.1 to 1.9 percent. On Monday, a leading Singaporean ministry also lowered its GDP forecast for this year due to the outbreak, but where China's major companies gradually resume operations, some believe in a V-shaped shock like this orange crisis, in In other words, a sharp decline in economic activities in China followed by a rapid recovery and overall shock to China relatively contained, therefore the shock to the world economy also contained a rebound after a brief and sharp economic shock is possible under certain circumstances, major companies and factories in China must resume operations under the Chinese government's systemic economic policies and containment measures, most importantly, the spread of the virus must be stopped, the IMF chief 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 potential cost of the outbreak.

Kim Dami Arirang News