Coronavirus may be peaking, but China’s reboot will be costly

Visitors wear protective masks to guard against coronavirus in the grounds of the Temple of Heaven on January 27 2020 in Beijing, China. Picture: GETTY IMAGES/KEVIN FRAYER

The government’s top medical adviser on the outbreak, Zhong Nanshan, held out hope that the epidemic may peak in February then plateau before easing. “The peak time may be reached at the ... middle [of] or late this month,” Zhong, an epidemiologist who won fame for his role in combating an outbreak of severe acute respiratory syndrome in 2003, told Reuters in an interview.

Underlining the danger, the head of the World Health Organisation , Tedros Adhanom Ghebreyesus, said the outbreak is very much an emergency for China but also posed a “very grave threat for the rest of the world”. He was speaking at the opening of a two-day meeting of 400 researchers in Geneva aimed at stepping up research into diagnostics, drugs and vaccines.

Prospective borrowers include food delivery giant Meituan-Dianping, smartphone maker Xiaomi and ride-hailing provider Didi Chuxing, the sources said. Analysts at investment bank Nomura said in a note that evidence suggests the virus had “a devastating impact on China’s economy in January and February. We are concerned that global markets thus far appear to be significantly underestimating the extent of disruption.”

Source: Loan News Today (loannewstoday.net)

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