Resurgence may have limited impact on economy
3 years, 4 months ago

Resurgence may have limited impact on economy

China Daily  

A medical worker administers a dose of COVID-19 vaccine for a student at a vaccination site in Nanchang, capital of East China's Jiangxi province, Aug 6, 2021. While uncertainty remains, we think the impact of the new COVID-19 infections on China's economy is likely to be limited, because more than 18 provinces have swiftly re-implemented stringent prevention and control measures to contain the spread of the Delta variant; and the vaccination rate in the country has gained additional pace since April. Our study suggests that in case of a mild new outbreak, which is combated with effective containment measures, and only a short period of lockdown－such as in the third quarter of 2020 and the first quarter of 2021－the negative impact is likely to be 1.2-1.7 percent of quarterly GDP, or 0.3-0.4 percent of annual GDP. In case of a mild outbreak, additional policy stimulus needed to achieve 6 percent annual GDP growth should be no more than 0.3 percent of annual GDP, according to our estimate. If the impact of a COVID-19 resurgence is as severe as that in the first quarter of 2020－when face-to-face activity and cross-regional travel largely came to a halt for almost two months in February-March－the negative impact could amount to about 12 percent of quarterly GDP, or 3 percent of annual GDP, and additional policy stimulus needed to achieve 6 percent annual growth would increase to about 3.5 percent of annual GDP.

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History of this topic

China Covid toll concern for world given size of its GDP, economy: US State dep
2 years ago

China Covid toll concern for world given size of its GDP, economy: US State dep

Hindustan Times  

The United States hopes that China can address the current COVID-19 outbreak as the toll of the virus is a global concern due to the size of the Chinese economy, State Department spokesperson Ned Price said on Monday. "The toll of the virus is of concern to the rest of the world given the size of China's GDP, given the …

The pandemic economy will outlast the outbreak of covid
2 years, 3 months ago

The pandemic economy will outlast the outbreak of covid

Live Mint  

We may be learning to live with covid but as the latest inflation report shows, it’s still a pandemic economy. Two-and-a-half years after the first lockdowns, the economy remains weird: It can take more than a year to a get a dishwasher, many months to get a passport, businesses are short-staffed, stores routinely run out of staples like pain reliever …

Covid-19: Omicron surge cripples several businesses, to hit economic recovery
3 years ago

Covid-19: Omicron surge cripples several businesses, to hit economic recovery

India Today  

A fresh wave of Covid-19 infections in India has cast a shadow over economic recovery as several sectors have been impacted by fresh restrictions that have been announced in view of the situation. Numerous businesses spanning across multiple sectors have been impacted in light of the fresh restrictions imposed by states. While many people are still travelling despite the fresh …

IMF chief warns Omicron COVID-19 variant could slow global growth
3 years, 1 month ago

IMF chief warns Omicron COVID-19 variant could slow global growth

Firstpost  

The IMF’s most-recent forecasts raised concerns that global supply chain issues and uneven distribution of vaccines were slowing the rebound, and causing some countries to be left behind Washington: The new Omicron variant of COVID-19 could slow the global economic recovery, just as the Delta strain did, International Monetary Fund chief Kristalina Georgieva said Friday. “A new variant that may …

US GDP slowed sharply in Q3 but big rebound expected in Q4
3 years, 1 month ago

US GDP slowed sharply in Q3 but big rebound expected in Q4

Associated Press  

WASHINGTON — The U.S. economy slowed to a modest annual rate of 2.1% in the July-September quarter according to the government’s second read of the data, slightly better than its first estimate. The economy’s weak summer performance reflected a big slowdown in consumer spending as a spike in COVID-19 cases from the delta variant caused consumers to grow more cautious …

Opinion: Here’s what the Delta variant means for the economic recovery
3 years, 4 months ago

Opinion: Here’s what the Delta variant means for the economic recovery

CNN  

Editor’s Note: Mark Zandi is chief economist of Moody’s Analytics. The US economy’s immediate prospects appear inextricably tied to how the wave of infections and hospitalizations set off by the Delta variant of Covid-19 plays out. Retail sales for July declined, while the University of Michigan’s survey of consumer sentiment pulled back sharply in early August and is now lower …

Resurgence may have limited impact on economy
3 years, 4 months ago

Resurgence may have limited impact on economy

China Daily  

A medical worker administers a dose of COVID-19 vaccine for a student at a vaccination site in Nanchang, capital of East China's Jiangxi province, Aug 6, 2021. While uncertainty remains, we think the impact of the new COVID-19 infections on China's economy is likely to be limited, because more than 18 provinces have swiftly re-implemented stringent prevention and control measures …

China growth forecasts slashed as Delta variant spreads across the country
3 years, 4 months ago

China growth forecasts slashed as Delta variant spreads across the country

CNN  

Hong Kong CNN Business — China’s worst coronavirus outbreak in a year has authorities taking dramatic measures to stamp out new infections. “With the virus spreading to many of China’s provinces and local governments reacting swiftly to control the spread of the highly contagious Delta variant, we have begun to see softening in national aggregate data,” the analysts said in …

Uneven COVID-19 vaccine distribution may hamper economic recovery in developing nations: IMF
3 years, 5 months ago

Uneven COVID-19 vaccine distribution may hamper economic recovery in developing nations: IMF

Firstpost  

IMF chief economist Gita Gopinath flagged the “widening gap” as advanced economies grow faster and developing nations, especially in Asia, slow. World GDP will expand by six percent this year, unchanged from the April forecast, but IMF chief economist Gita Gopinath flagged the “widening gap” as advanced economies grow faster and developing nations, especially in Asia, slow. The Washington-based crisis …

Need to Raise Vaccination Pace to Lower Chances of Another Covid Wave: CEA
3 years, 7 months ago

Need to Raise Vaccination Pace to Lower Chances of Another Covid Wave: CEA

News 18  

Chief Economic Adviser KV Subramanian on Monday said the overall impact of the second wave of COVID-19 on the country’s economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead. The Economic Survey 2020-21 released in January this year had projected GDP growth of 11 per cent during the current financial year ending …

Coronavirus | Finance Ministry not for lockdown
3 years, 8 months ago

Coronavirus | Finance Ministry not for lockdown

The Hindu  

The second COVID-19 wave which is spreading fast beyond the worst-affected districts in the country, could dent economic activity till June this year, and expanding vaccination pace in the country is the “need of the hour”, the Finance Ministry said on Friday. While India’s second wave has seen new peaks in daily cases and deaths, active cases as well as …

The engine of the US economy, consumer spending, sputters again
3 years, 11 months ago

The engine of the US economy, consumer spending, sputters again

Al Jazeera  

Surging COVID-19 infections and restrictions in December slammed the brakes on the engine of the US economy – consumer spending – for the second consecutive month. Business-sapping restrictions designed to contain spiralling COVID-19 infections slammed the brakes on the engine of the United States economy in December, as consumers kept their wallets snapped shut and hunkered down at home. Consumer …

Opinion: The right vaccination plan can speed up US economic recovery. Here’s what it should include
3 years, 11 months ago

Opinion: The right vaccination plan can speed up US economic recovery. Here’s what it should include

CNN  

Editor’s Note: Sachiko Ozawa is an associate professor at the University of North Carolina at Chapel Hill in the Eshelman School of Pharmacy and adjunct associate professor in Maternal and Child Health at the Gillings School of Global Public Health. Below are five important vaccination considerations for federal, state, and local governments to maximize the economic recovery: Prioritize vaccinating teachers …

U.S. Economy Slows Sharply As Pandemic Resurges
3 years, 11 months ago

U.S. Economy Slows Sharply As Pandemic Resurges

NPR  

U.S. Economy Slows Sharply As Pandemic Resurges Enlarge this image toggle caption Frederic J. Brown/AFP via Getty Images Frederic J. Brown/AFP via Getty Images Updated at 1:12 p.m. "There's nothing more important to the economy now than people getting vaccinated," Federal Reserve Chairman Jerome Powell said Wednesday. Sponsor Message "The economy remains in a delicate spot," said Jim Baird, chief …

IMF: New coronavirus variants pose major risk to the global economy
3 years, 11 months ago

IMF: New coronavirus variants pose major risk to the global economy

CNN  

London CNN Business — The pandemic could slam the brakes on a global economic turnaround this year despite mass vaccination programs and unprecedented levels of stimulus, according to the International Monetary Fund. The IMF expects the global economy to grow by 5.5% this year, it said on Tuesday, or 0.3 percentage points faster than its previous forecast in October. “The …

Opinion: For investors, there’s plenty to be optimistic about in the year ahead
3 years, 11 months ago

Opinion: For investors, there’s plenty to be optimistic about in the year ahead

CNN  

Editor’s Note: Shawn Snyder is the head of investment strategy for Citi Personal Wealth Management. As more Covid-19 vaccines are becoming readily available, 2021 offers renewed optimism that we may expect a rebound of the economy – and of life in general. The rapid development and distribution of Covid-19 vaccines has been nothing short of extraordinary and should allow daily …

Growth in Q4 forecast to hit pre-virus rate
3 years, 11 months ago

Growth in Q4 forecast to hit pre-virus rate

China Daily  

Nation likely to be only major economy to have achieved positive results in 2020 China's economic growth is expected to equal pre-COVID-19 levels in the last quarter of 2020, and Beijing will ramp up efforts to help businesses still in distress and promote a more balanced recovery, experts said on Friday. But a GDP growth figure reaching pre-COVID-19 levels does …

Economic impact of coronavirus will hit next year, experts say
4 years, 1 month ago

Economic impact of coronavirus will hit next year, experts say

Dutch News  

Despite the slight drop in the unemployment rate this week, and signs of a speedier economic recovery from the coronavirus crisis, the big hit will be felt in the second quarter of next year, according to experts. In total, 102 banking, legal and investment experts took part in a survey on the likely impact of the crisis carried out by …

A Lost Decade: Decoding the cost of Covid-19 pandemic
4 years, 2 months ago

A Lost Decade: Decoding the cost of Covid-19 pandemic

India Today  

A decade after facing the worst financial crisis since the Great Depression in the 1930s, the world has again stumbled upon an unprecedented economic challenge due to a microscopic virus. Citing International Labour Organisation estimates, the UNCTAD report indicated that the pandemic has put jobs of more than 500 million people in jeopardy, mainly in the developing world. In what …

Covid-19 straining India’s health infra, delaying economic recovery
4 years, 3 months ago

Covid-19 straining India’s health infra, delaying economic recovery

Live Mint  

NEW DELHI: A relentless rise in covid-19 cases--more than a half a crore and counting-is not only straining the country's health infrastructure but also delaying economic recovery. As the government has eased restrictions, cases have continued to rose with several key economic activity areas declared containment zones. “More covid-19 cases may slow down the unlocking process, may create greater fear …

Covid-19 Pandemic Impact to be Severe, Prolonged for Aviation, Hospitality, Retail Sectors: ICRA
4 years, 4 months ago

Covid-19 Pandemic Impact to be Severe, Prolonged for Aviation, Hospitality, Retail Sectors: ICRA

News 18  

The coronavirus pandemic will significantly impact performance of companies and it is likely to be severe and prolonged for select sectors, especially aviation, hospitality and retail, according to ratings agency ICRA. As per ICRA analysis, the impact is likely to be severe and prolonged for select sectors, especially aviation, hospitality, retail and allied businesses," it said. The ratings agency, however, …

Summertime sadness: Resurgent coronavirus dims economic recovery hopes
4 years, 5 months ago

Summertime sadness: Resurgent coronavirus dims economic recovery hopes

Live Mint  

The virus is the summer house guest from hell. If you add that all up together it’s not a pretty picture.” At the same time, as governments face new flare-ups and reimpose full or partial lockdowns, the prospects for a brisk global economic rebound later in the year have dimmed, according to economists and executives. While the virus-stricken world is …

Rising coronavirus infections threaten US economic recovery
4 years, 5 months ago

Rising coronavirus infections threaten US economic recovery

Associated Press  

BALTIMORE — Rising coronavirus infections across dozens of states are threatening the U.S. economic recovery, forcing businesses and consumers to freeze spending and keeping the unemployment rate stubbornly high. A separate report showed that more than a million Americans sought unemployment benefits last week – a sign that companies continue to cut jobs as the virus slashes through the heavily …

COVID-19 Impact: GDP growth dips to 3.1% in Jan-Mar quarter, slowest growth in 8 years; economy grows at 4.2% in FY20
4 years, 7 months ago

COVID-19 Impact: GDP growth dips to 3.1% in Jan-Mar quarter, slowest growth in 8 years; economy grows at 4.2% in FY20

Firstpost  

The gross domestic product had expanded by 5.7 percent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office on Friday. Economic growth slipped to 3.1 percent in the January-March quarter of 2019-20 showing impact of COVID-19 pandemic, the slowest growth in at least eight years, official data showed on Friday. The Reserve Bank had …

Economic hit from coronavirus will be limited, NDRC head says
4 years, 7 months ago

Economic hit from coronavirus will be limited, NDRC head says

China Daily  

He Lifeng, head of the National Development and Reform Commission is interviewed via video link after the opening of the third session of the 13th National People's Congress at the Great Hall of the People in Beijing, capital of China, May 22, 2020. China has the ability to cope with the various risks and challenges amid the COVID-19 outbreak, and …

Coronavirus Outbreak: Govt’s economic stimulus package won't stop GDP from contracting in FY21, say analysts
4 years, 7 months ago

Coronavirus Outbreak: Govt’s economic stimulus package won't stop GDP from contracting in FY21, say analysts

Firstpost  

The government’s reform moves and stimulus package will only help the deeply-impacted growth process in the medium term of over three years and will not push up the GDP in the short term, analysts at two foreign brokerages said on Monday Mumbai: The government’s reform moves and stimulus package will only help the deeply-impacted growth process in the medium term …

US GDP drops 4.8% as coronavirus impact hits hard: Live updates
4 years, 8 months ago

US GDP drops 4.8% as coronavirus impact hits hard: Live updates

Al Jazeera  

It is the sharpest decline since the Great Recession, an abrupt end to the longest economic expansion in US’s history. 09:30 GMT – Spain’s daily toll slightly up with 325 new deaths Spain recorded 325 deaths from the novel coronavirus overnight, up from 301 reported the previous day, the health ministry said. 07:55 GMT – Russia’s coronavirus cases near 100,000 …

Coronavirus Outbreak: Economy suffers 'unprecedented collapse' due to COVID-19, says survey
4 years, 8 months ago

Coronavirus Outbreak: Economy suffers 'unprecedented collapse' due to COVID-19, says survey

Firstpost  

The coronavirus pandemic is having a “deep impact” on Indian businesses and has already caused an unprecedented collapse in economic activities over the last few weeks, says an industry survey released on Tuesday New Delhi: The coronavirus pandemic is having a “deep impact” on Indian businesses and has already caused an unprecedented collapse in economic activities over the last few …

Coronavirus: Chinese economy shrinks for the first time since 1976
4 years, 8 months ago

Coronavirus: Chinese economy shrinks for the first time since 1976

Op India  

The scourge of Wuhan Coronavirus has brought the remarkable growth-run of the Chinese economy to an end as China reported the contraction of its economy for the first time since the end of the Cultural Revolution in 1976. Ravaged by the coronavirus outbreak, China’s economy shrank by 6.8 per cent in the first three months of 2020. As the world’s …

Coronavirus Outbreak: Analysts flag economic growth concerns post-lockdown extension
4 years, 8 months ago

Coronavirus Outbreak: Analysts flag economic growth concerns post-lockdown extension

Firstpost  

The 19-day extension of the lockdown on Tuesday by Prime Minister Narendra Modi led analysts to flag concerns over its economic impact, with some estimating a GDP contraction of 1 percent in FY21 as well Mumbai: The 19-day extension of the lockdown on Tuesday by Prime Minister Narendra Modi led analysts to flag concerns over its economic impact, with some …

Coronavirus | IMF projects 1.9% growth for India in 2020
4 years, 8 months ago

Coronavirus | IMF projects 1.9% growth for India in 2020

The Hindu  

The COVID-19 pandemic is having a “severe” effect on the world economy and is expected to cause a -3% change in global output in 2020, “much worse” than the 2008-09 financial crises, as per the International Monetary Fund’s World Economic Outlook. Assuming that the pandemic fades in the second half of this year, with containment efforts gradually easing up, the …

Covid-19: Economic opportunities and challenges | Opinion
4 years, 9 months ago

Covid-19: Economic opportunities and challenges | Opinion

Hindustan Times  

When pandemics spread, they bring on an economic contagion, beyond the morbidity and mortality of the disease itself. Economic activity has been curtailed to enforce social distancing — an indispensable bullet in the Covid-19 war The World Bank and the International Monetary Fund warned that the virus is pushing the world economy into a recession worse than that after the …

Coronavirus Outbreak: Former RBI governor Raghuram Rajan urges govt to invite experts to deal with economic impact of pandemic
4 years, 9 months ago

Coronavirus Outbreak: Former RBI governor Raghuram Rajan urges govt to invite experts to deal with economic impact of pandemic

Firstpost  

Rajan, a professor of finance at the University of Chicago Booth School of Business, suggested that India should now plan for what happens after the lockdown, if the virus is not defeated. New Delhi: Former RBI governor Raghuram Rajan has suggested to the government to call people with proven expertise and capabilities, including from opposition parties, to deal with perhaps …

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA
4 years, 9 months ago

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA

Firstpost  

Despite the Reserve Bank of India’s massive actions to spur the economy, India’s gross domestic product is likely to contract by 4.5 percent in the April-June 2020 quarter and will rise by only 2 percent in 2020-21 on the coronavirus impact, according to domestic rating agency ICRA Mumbai: Despite the Reserve Bank of India’s massive actions to spur the economy, …

The economic impact of coronavirus and the response so far, in nine charts
4 years, 9 months ago

The economic impact of coronavirus and the response so far, in nine charts

Live Mint  

New Delhi: Poor cash flows, rising leverage, and stretched valuations of firms had analysts worried about an impending global recession since last year. The rapid spread of the novel coronavirus across the world threatens to morph into a global recession now even as governments and central banks scramble to limit the shock. For India, as for most other countries, the …

Economic paralysis: Coronavirus slams brakes on China economy
4 years, 9 months ago

Economic paralysis: Coronavirus slams brakes on China economy

Al Jazeera  

Everyone knew the coronavirus outbreak was hurting China’s economy. Urban investment and retail sales also fell sharply for the first time on record, reinforcing views that the epidemic may have cut China’s economic growth in half in the first quarter. Industrial output fell by a much worse-than-expected 13.5 percent in January-February from the same period a year earlier, the weakest …

The coronavirus will slam the brakes on California’s economic growth, study says
4 years, 9 months ago

The coronavirus will slam the brakes on California’s economic growth, study says

LA Times  

California’s economic growth will slow this year as unemployment rises and job creation weakens as a result of the coronavirus outbreak, according to a UCLA forecast released Thursday. “Prior to the outbreak of the COVID-19 epidemic we were optimistic about the California economy,” wrote Jerry Nickelsburg, director of the Anderson School of Management forecast, noting that unemployment in December stood …

Coronavirus outbreak could cost global economy up to $2 trillion, cause recession in some countries, says UNCTAD
4 years, 9 months ago

Coronavirus outbreak could cost global economy up to $2 trillion, cause recession in some countries, says UNCTAD

Firstpost  

The coronavirus outbreak could cost the global economy up to $2 trillion this year, the UNCTAsaid, warning that shock from the epidemic will cause a recession in some countries and depress global annual growth to below 2.5 percent United Nations: The coronavirus outbreak could cost the global economy up to $2 trillion this year, the UN’s trade and development agency …

Two economic scenarios for the impact of coronavirus on the US (opinion)
4 years, 10 months ago

Two economic scenarios for the impact of coronavirus on the US (opinion)

CNN  

Editor’s Note: Gad Levanon is a vice president at The Conference Board, where he heads the Labor Markets Institute. Then, starting in May or June, if the virus-related fear subsides, the US economy could enjoy a bounce-back, as consumers resume their typical spending behavior and businesses fix their supply chains and resume production at normal capacity. If consumers and businesses …

COVID-19 could cut global growth by 0.1% to 0.4%, says ADB
4 years, 10 months ago

COVID-19 could cut global growth by 0.1% to 0.4%, says ADB

The Hindu  

The Asian Development Bank said on Friday the COVID-19 outbreak is set to trim economic growth in developing Asia and around the world this year. The outbreak could slash global gross domestic product by 0.1 to 0.4%, with financial losses forecast to reach between $77 billion and $347 billion, the Manila-based lender said. The ADB said the COVID-19 outbreak could …

Coronavirus could put an end to Dutch economy's higher-than-expected growth
4 years, 10 months ago

Coronavirus could put an end to Dutch economy's higher-than-expected growth

NL Times  

The Dutch economy is expected to grow by 1.4 percent this year and 1.6 percent next year, according to the latest estimations by central planning office CPB. The CPB warned that the effects of the coronavirus outbreak on the economy are still very uncertain, but the virus will negatively impact economic growth if it is not quickly gotten under control. …

Coronavirus effect on world economy grows more alarming
4 years, 10 months ago

Coronavirus effect on world economy grows more alarming

India Today  

Concerns about the coronavirus outbreak's threat to the world economy grew Saturday, even after President Donald Trump denounced criticism of his response to the threat as a "hoax" cooked up by his political enemies. Trump accused Democrats of "politicizing" the coronavirus threat and boasted about preventive steps he's ordered in an attempt to keep the virus from spreading across the …

Coronavirus poses risks to fragile recovery in global economy, says IMF
4 years, 10 months ago

Coronavirus poses risks to fragile recovery in global economy, says IMF

India Today  

The coronavirus epidemic has already disrupted economic growth in China and a further spread to other countries could derail a highly fragile projected recovery in the global economy in 2020, the International Monetary Fund warned on Wednesday. IMF Managing Director Kristalina Georgieva said the outbreak was a stark reminder of how unforeseen events could threaten a fragile recovery, and urged …

COVID-19 outbreak to hit global growth but will have limited impact on India: RBI Governor
4 years, 10 months ago

COVID-19 outbreak to hit global growth but will have limited impact on India: RBI Governor

The Hindu  

The COVID-19 outbreak will have a limited impact on India, but global GDP and trade will definitely be affected due to the large size of the Chinese economy, RBI Governor Shaktikanta Das has said. “Hence, the virus outbreak will definitely have an impact on global GDP and global trade,” he said, adding that every major economy today will have to …

Coronavirus poses risks to global economy’s fragile recovery: IMF
4 years, 10 months ago

Coronavirus poses risks to global economy’s fragile recovery: IMF

Al Jazeera  

IMF says global economic recovery will be shallow and could be derailed by a further spread of the coronavirus. IMF Managing Director Kristalina Georgieva said the outbreak was a stark reminder of how unforeseen events could threaten a fragile recovery and urged G20 policymakers to work to reduce other uncertainties linked to trade, climate change, and inequality. Even in the …

Coronavirus: IMF chief sees ’mild’ virus impact on global economy
4 years, 10 months ago

Coronavirus: IMF chief sees ’mild’ virus impact on global economy

Live Mint  

It is too early to tell the economic toll from the virus outbreak in China, but the hit to global growth should be "mild," International Monetary Fund chief Kristalina Georgieva said Wednesday. The IMF is expecting a "V-shaped impact," with a sharp decline in activity in China followed by a sharp recovery, meaning there likely will only be a "mild …

Coronavirus to have larger impact on global economy than SARS: IHS Markit
4 years, 11 months ago

Coronavirus to have larger impact on global economy than SARS: IHS Markit

The Hindu  

The outbreak of coronavirus will have a larger negative effect on the global economy than the SARS outbreak in 2003, as any slowdown in Chinese economy would send not ripples but waves across the globe, IHS Markit said on Friday. At the time of SARS, China was the sixth largest economy, accounting for only 4.2% of world GDP,” IHS said …

Coronavirus hasn’t devastated the global economy yet – but it could if it’s not contained soon
4 years, 11 months ago

Coronavirus hasn’t devastated the global economy yet – but it could if it’s not contained soon

The Independent  

How grave is the likely impact of coronavirus on the world economy? The loss in Hong Kong was equivalent to 2.6 per cent of GDP; in the rest of China a little over 1 per cent. In 2003, its GDP was some $1.6 trillion, a bit bigger than Italy but smaller than France or the UK, accounting for about 3 …

Coronavirus may drag China econ growth below 5%- gov’t economist
4 years, 11 months ago

Coronavirus may drag China econ growth below 5%- gov’t economist

Al Jazeera  

A Chinese government economist warns negative economic fallout of coronavirus could be greater than SARS. China‘s economic growth may drop to 5 percent – or even lower – due to the coronavirus outbreak, possibly pushing policymakers to introduce more stimulus measures, a government economist has said. The fast-spreading outbreak, which has killed more than 130 people and infected almost 6,000 …

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