The economic consequences of coronavirus grow

Reports from the manufacturing, banking and other sectors have shown the increasing impact of the epidemic, which led to the suspension of a significant part of China’s economy.

RIGHT NOW150 million people in China are under the constraint that determines how often they can leave their homes.

The problem of economic growth from the epidemic of the coronavirus continues to grow

The economic consequences of a new epidemic coronavirus continued to grow on Tuesday, and new data from the sectors in the manufacturing industry, financial markets, commodities, banking and other sectors.

HSBC, one of the most important banks in Hong Kong, said it plans to cut 35 000 jobs and save the cost of $ 4.5 billion, as it faces barriers due to the outbreak of coronavirus and several months of political protests in Hong Kong. The Bank, based in London, is even more dependent on China’s growth.

Jaguar Land Rover has warned that the coronavirus may soon begin to create production problems at its Assembly plants in the UK. Like many automakers, Jaguar Land Rover uses parts made in China, where many factories stopped production or slowed production; Fiat Chrysler, Renault and Hyundai already reported disruptions in the epidemic.

US stocks declined on Tuesday, the day after Apple warned that there will be reduced sales of new devices due to failure in China, as concerns about the impact the outbreak has had a negative impact on the prospects of the world economy.