CORONAVIRUS IMPACT ON CHINA ECONOMY

[White Christmas]

I am pretty sure that the coronavirus which is happening right now will be have a strong affect to the economy of China because we all know that if a virus especially a dangerous virus get close to your country then a lot of people will be scared so people and animals will get some virus also and this would probably become a problem so when they die the economy of the said country will dump.

[Janation]

For me, this is just a coincidence.

I mean what is the connecrion of having an outbreak of coronavirus to the price of Bitcoin and other cryptocurrencies? If there will be a connection between Bitcoin and the outbreak, I think that would give a negative effect to the price since people would sell their cryptocurrencies to use against the outbreak.

[LogitechMouse]

~

I don't see any correlation between what is happening on China and crypto in general. Maybe because of the sentiments and the fact that most of the mining pools are coming from China or its just the halving itself that makes the price of Bitcoin higher .

In terms of the economy, yes it has a huge impact on them. When the SARS spread many years ago, their economy went down drastically.

Now they don't want this to happen again so what they are doing? People can't access to the internet anymore and those people who are sharing the true information of what is happening right now to China is being hunted already by the police. They are doing this to prevent what happen to their economy when SARS spread across the world.

Anyway, I commend the Chinese Government as they are doing everything just to stop the virus to be spread. Now China is suffering another disease again in Bird Flu. How can they handle this right now?

[Golftech]

I agree with you that China and China's economy are under threat due to coronavirus It has spread to about 14 countries in Wuhan, China. 106 people died in China Researchers believe that around six million people can be killed if the virus spreads around the world. If the whole country is spread they will lose their working power and the economy will be disrupted.

The virus affects the economy of China, knowing that they are one of prominent supplier of every garments around the world. With this issue regarding to Corona virus people who are working with them and having good business are minimizing the trade and transactions that being deal. If this problem  continue to spread all over China it will make a huge impact in a down side of their economy.

[Sadlife]

There's even recent news in an article stating that china has printed 1.2 trillion additional paper money in circulation. This goes to show how can a centralized authority manipulate the fiat value and interest rates.

Maybe this could be one of the reason why a decentralized asset like bitcoin is increasing. This price pump always happens when there's global crisis or FUD, when people thinks that their economy might collapse and their fiat holdings might loss value.

[thottum]

I am pretty sure that the coronavirus which is happening right now will be have a strong affect to the economy of China because we all know that if a virus especially a dangerous virus get close to your country then a lot of people will be scared so people and animals will get some virus also and this would probably become a problem so when they die the economy of the said country will dump.

You are right there will be a huge impact if it is not controlled as soon as possible. It will have an impact on several ways first the money spent on the disease containment is an added expense along with their usual spending budget, of course, it is for the people and their lives but if we see with economy perspective a lot of money will be spent on it.

Several people lakhs of people forced to stay inside the house their income will be affected thereby decreasing the sales of the goods which will impact all the company's profits and sales figures.

Apart from the sales, there will also be a huge impact on production due to unavailable workforce or delay in various other management processes all these affect the production which might impact the delivery schedule, etc So all these will slow down the economy and have an impact on the GDP growth.

[justdimin]

I feel like it will have a short term financial trouble for China but in the long term they won't have a big issue. China is literally the cheapest place you can make your products from and it won't change for years to come as long as people do not care where it comes from.

I have a friend who recently got funding for starting his own company and he is making a board game, he was dealing with a Chinese manufacturer to get the game ready and the quality was actually better than anywhere else he looked, now that the corona thing started and it is bad for business to get it made in china, dude had to find another country and only country with remotely same level of quality was in Europe and he will have to pay 3x the amount he normally would have paid in China, and it is not even as good as the Chinese, just closer than other places.

So, when all of this is over, people will certainly go back because unlike the stigma of Chinese products, it turns out the quality is actually very nice there and it is still a lot cheaper than anywhere else with better quality.

[airdnasxela]

This virus somehow affects China's economy. Foreigners will be afraid to travel to China and some country are banning flights from and to China and it can affect their economy since tourism is a factor that helps a country to grow their economy, including their exports. But since their country is one of the strongest among all, they can easily recover from it. So it won't drastically drag their economy down. I think their research and development can find solution for this virus outbreak.

As for crypto, it won't give much impact to the market unless people would be panicking. It's the China's economy that will be affected by this but not totally crypto.

[shoreno]

For me, this is just a coincidence.

I mean what is the connecrion of having an outbreak of coronavirus to the price of Bitcoin and other cryptocurrencies? If there will be a connection between Bitcoin and the outbreak, I think that would give a negative effect to the price since people would sell their cryptocurrencies to use against the outbreak.

this isnt about bitcoin but the thread here tackles also economic business in china   . the virus really have a major impact on thier local economy because the importing and the exporting of goods is strictly prohibited now plus the migration or people too  .jobs were now affected as well  .  during the virus outbreak the price of bitcoin rises too  and i think its not a co incident  because before when there is no outbreak , the price hardly move . people could be foccusing on other things other than foccusing on thier bitcoin accounts  .

[ene1980]

A lot of people already died in China, specifically in Wuhan. And in some countries, they are starting to be cautious of the virus since the number of casualties and the number of people getting confirmed infected of the virus is increasing. China's economy had been stricken hard due to this. I believe there is an indirect correlation between the economy and the crypto market.

The death toll is rising on a daily basis and if they are not able to contain the virus effectively then it will create a situation that will impact the entire global market. The entire city is shut down and the markets are shut down for weeks and i wonder how they will be procuring things and i can only imagine the struggle those people are going through.
These situation will have a momentary implication on the economy but it will not affect the growth.

[el kaka22]

No it won't. Many people have already discussed the fact that corona virus is not something serious, sure it killed a lot of people and wish it didn't but the reality is that people are not afraid of it today then they were just a week ago. If something is less scary in just one week, do you really think that it will be scary for another month? Two months? Every keeps saying the same thing, it will not be a big deal very soon and it already is not a big deal. Sure the economy got affected because if you wipe out the entire economy of a whole city, there is no way economy won't be affected.

However, that doesn't change the fact that in the long run everything will be alright and people will continue life like nothing happened and all will be  blown over very soon.

[romero121]

China is on the lead in terms of economic development, with the recent corona virus attack the emergency situation within the country and the spreading to different countries around the world has serious effect over the economy. Particularly leading chain network like KFC, McDonald and more has stopped services without any schedule. Almost every functional sector is closed with only the medical industry working actively to beat back the situation.

Lets give hands to the country with our prayers, because when something is uncontrollable only God can rescue by that time. This is the situation of China presently.

[Janation]

For me, this is just a coincidence.

I mean what is the connecrion of having an outbreak of coronavirus to the price of Bitcoin and other cryptocurrencies? If there will be a connection between Bitcoin and the outbreak, I think that would give a negative effect to the price since people would sell their cryptocurrencies to use against the outbreak.

this isnt about bitcoin but the thread here tackles also economic business in china

..of Bitcoin always followed by the different crypto markets like Ethereum, bitcoin, BTCH, etc The Question Remain to the community will the CORONA VIRUS  favor Crypto Market.

In terms of the economy, obviously it will affect them as this outbreaks happen, it can greatly affect the economy. They were forced to make a hospital for just a week. If it is not a coincidence, then how can we say that this outbreak is the reason of the price increase?

[TIDOVEE]

At first, we know that the outbreak of coronavirus in as much as it will affect people psychologically, it will affect their participation in the use of Cryptocurrency in one way or the other. There will be emigration from the dominant areas which will disrupt atleast few peoples function. As a matter of fact, it Should not have anything to do with the price of Cryptocurrency if it is actually a decentralized coin. There is always a sense of making people assume that bitcoin is controlled by the Chinese, if not, would we think of this if the disease was in Africa.

[Negotiation]

I agree with you that China and China's economy are under threat due to coronavirus It has spread to about 14 countries in Wuhan, China. 106 people died in China Researchers believe that around six million people can be killed if the virus spreads around the world. If the whole country is spread they will lose their working power and the economy will be disrupted.

The virus affects the economy of China, knowing that they are one of prominent supplier of every garments around the world. With this issue regarding to Corona virus people who are working with them and having good business are minimizing the trade and transactions that being deal. If this problem  continue to spread all over China it will make a huge impact in a down side of their economy.

You have rightly said that the coronavirus will affect the economy of the country because the workers suffering from this disease are unable to function properly so their production system is being disrupted which will hurt the economy.

[Blackdeath]

In my own personal opinion, corona virus will not only have an impact in China, but in every country who already have been affected by corona virus that it will cause an economic loss in feedlots through mortality of a human being, the cost of a treatment and the productivity of medicines.

[samcrypto]

I agree with you that China and China's economy are under threat due to coronavirus It has spread to about 14 countries in Wuhan, China. 106 people died in China Researchers believe that around six million people can be killed if the virus spreads around the world. If the whole country is spread they will lose their working power and the economy will be disrupted.

Not just in China but in a whole country that is affected by this virus and there are so many countries now that made a travel banned from and to China, Hongkong and Macau which can affect their economy. I heard on the last news that its already 500 people died because of this virus, I’m not sure but let’s hope that they will finally find the cure and start living normal again, my country is also in a full alert because the cases that we have in increasing and alarming.

[CaVO32]

I agree with you that China and China's economy are under threat due to coronavirus It has spread to about 14 countries in Wuhan, China. 106 people died in China Researchers believe that around six million people can be killed if the virus spreads around the world. If the whole country is spread they will lose their working power and the economy will be disrupted.

Not just in China but in a whole country that is affected by this virus and there are so many countries now that made a travel banned from and to China, Hongkong and Macau which can affect their economy. I heard on the last news that its already 500 people died because of this virus, I’m not sure but let’s hope that they will finally find the cure and start living normal again, my country is also in a full alert because the cases that we have in increasing and alarming.

this health crisis is very alarming as it can really have significant impact not only in Chinese economy but its neighbouring countries as well as the global economy. just take a look at those 27k employees of Cathay Pacific having a 3-week no pay leave. this is really getting serious and just tip of the iceberg. many companies are losing money aside from losing their employees. i hope those health authorities will find a way how to stop this outbreak and contain immediately. other asian countries are having reported deaths and cases outside China.

https://www.humanresourcesonline.net/cathay-pacific-asks-27000-employees-to-take-three-week-no-pay-leave/

https://www.nytimes.com/2020/02/02/world/asia/philippines-coronavirus-china.html

https://www.straitstimes.com/asia/se-asia/malaysia-confirms-two-new-patients-bringing-total-coronavirus-infections-count-to-14

[Saisher]

You already mentioned that they spent billions of dollars on their medical equiptment alone not to mention the lose income of those victims and the the two town of Hubei and Wuhan it does have a huge impact on their economy if this persist longer.

[philipma1957]

There's even recent news in an article stating that china has printed 1.2 trillion additional paper money in circulation. This goes to show how can a centralized authority manipulate the fiat value and interest rates.

Maybe this could be one of the reason why a decentralized asset like bitcoin is increasing. This price pump always happens when there's global crisis or FUD, when people thinks that their economy might collapse and their fiat holdings might loss value.

If you could find that article please link it so I can read it


 Thanks, phil