How coronavirus is beginning to hit China's economy

At a special press conference on Sunday, Chinese officials indicated the coronavirus outbreak will remain an issue for the near future.

"We face a severe shortage of supplies given the demand," Wang Jiangping, vice minister of industry and information technology, said Sunday, according to an official translation of his Mandarin-language remarks. The immediate impact was visible in a drop in the flow of passengers. In an effort to prevent the virus from spreading, the government has encouraged people to stay at home, cancelled major public events and restricted travel for tens of millions.Overall travel on Saturday, the first day of the Lunar New Year, dropped 28.8% from a year ago, said Liu Xiaoming, vice minister of transport.

Wang noted a particular shortage of protective suits and face masks, especially in Wuhan. For example, Wang said about 100,000 protective suits are needed a day, but daily production capacity is at best in the low tens of thousands.

Who can think of economy when human lives at serious risk?

SusanneSCHAFFE2 RomanWenzl EmmaPeel_Knight DiePressecom EmmaPeel_Knight isabelledaniel HeleneSteiner4 Konflikt_Sicher

The Chinese dream of becoming a super power all undone by virus 🙄

The Chinese have the technology. They could 3-D print hospital dorms for the sick.

I suppose we could consider donating emergency medical supplies to China. A good humanitarian move from America.

This virus is believed have been transferred from a snake specie. The Chinese needs to stop their barbaric beliefs of eating wildlife because it helps cure some rubbish. Most of the world's wildlife is in danger because of the Chinese market in wildlife.

DAX should be down 5% ... most affected index ... completely overvalued

Be optimistic guys.

What's caused this virus?

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