The Coronavirus Global Effects

February 18, 2020

Photo Credit: Business Insider

 

Since the initial outbreak of the coronavirus, China reported its lowest case of the diagnosis only last week. Although that is an improvement for China, the rest of the world still has some way to go before they can take a sigh of relief from this fatal virus as the death toll and the amount of confirmed cases continue to rise. 

 

According to CNN Philippines the global death toll from the virus has reached 1,868. The mainland of China is home to 1,863 deaths whereas one death has been reported by Hong Kong, Taiwan, Japan, The Philippines, and France. 

 

Other global developments due to the spread of the coronavirus include:

 

  • Approximately 150 Millions people in China are under lockdown. 

  • The Tokyo Marathon canceling thousands of entries. The entries have been limited to just elite runners, bringing the total of participants to approximately 200 from the estimated 38,000 that were supposed to participate

  • Late last week there were reports of a few diagnoses of the coronavirus aboard a Japanese cruise ship. Those few diagnoses have now turned to approximately 500. 

  • An increase in theft. $1,700 worth of toilet paper was stolen from a supermarket in Hong Kong. The toilet paper is in high demand because of the outbreak

  • Apple is predicting they will not meet their projected revenue earnings due to the coronavirus outbreak. The reason for the prediction and the cut to their revenue guidance is the production delays and lack of demand for its product due to the coronavirus. This comes after Apple made history as a Trillion dollar company last year. 

  • China is offering tariff exemptions on almost 700 imported goods from the U.S. among these goods are said to be medical equipment

 

The global impact of the coronavirus is steadily increasing. Although the global economy has not yet taken a hit, it is predicted to based upon recent revenue projections by Apple. This raises the question, how long until the virus sets back the global economy and how will world powers combat that set back?

 

Read more about how China’s Economy will be affected China’s Economy and The Coronavirus.  

 

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