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Coronavirus (view source)

Revision as of 19:30, March 31, 2020

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==Economic impact==

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[[File:Wuhan masks.PNG|right|150px|thumb|Although masks are in short supply, a person can be arrested for not wearing a mask in public.]]

Most all major auto producers use at least 30% of auto parts manufactured in China. With the closing of factories and lockdown of 400 million Chinese, auto supply replacement parts are likely to rise. Conversely, Chinese oil demand was down 20% two weeks after the CCP alerted the world to the outbreak. With the ban on driving and closing of public transportation, oil prices are likely to fall,

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Nissan temporarily closed one of its factories in Japan after running short of Chinese components, one week after Hyundai in South Korea did the same. Fiat Chrysler may shutter one of its European plants.

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~~[[File:Wuhan masks.PNG|right|150px|thumb|Although masks are in short supply, a person can be arrested for not wearing a mask in public.]]~~

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Publicly traded companies in [[America]] and abroad lowered earning estimates due to the impact of the coronavirus.<ref>https://www.engadget.com/2020/02/13/nvidia-cuts-outlook-coronavirus/</ref>

Tourism and the travel industry suffered immediate setbacks. Chinese factory manufacturing output decline 17% in January and February 2020.<ref>https://mobile.reuters.com/article/amp/idUSKBN20U05R?__twitter_impression=true</ref>

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~~===Shortages===~~

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A critical shortage of masks occurred within the first month. American hospitals were overly dependent on Chinese made medical supplies. Hospitals in the US were already having to ration their inventory amid one of the worst flu seasons in decades. Masks were only available in departments such as intensive care units, divisions involved with infection, prevention and emergency departments in some hospitals.

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White House Manufacturing and Trade Advisor Peter Navarro advocated for a return to U.S. production of medical products as a matter of [[national security]]. In his first three years President Trump positioned the U.S. to withstand supply chain disruption better than most countries. Starting from a position that the U.S. was too dependent on Chinese products, Trump pressured companies to return to the U.S. or find alternate suppliers outside China. During the two-year tariff battle many companies did exactly that. As a result those companies are less dependent on Chinese component goods. A proactive position is now helping many U.S. companies avoid the China economic meltdown.

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Proctor & Gamble warned that the company’s 17,600 products use 9,000 materials that come from 387 factories / suppliers across China, and that all of them may be disrupted by the coronavirus pandemic.<ref>https://www.cips.org/en/supply-management/news/2020/february/pg-warns-17600-products-possibly-hit-by-coronavirus/</ref>

== Origin of Covid-19 virus ==

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