EXPRESS – 02/05/2020: Coronavirus is spreading across the globe. The fear surrounding it reaches distant parts of the world even faster. The World Health Organization is doing its best to prevent a worldwide pandemic. The most recorded cases occurred in China. This will influence the economic position of this country. Because of this, Donald Trump now has upper hand over his Chinese counterpart Xi Jinping regarding the USA-China trade deal.
Five hundred sixty-three people died from coronavirus, while another 28,000 is currently infected. The virus reached the United Kingdom after the third person reportedly has contracted this disease. For you not introduced to coronavirus, WHO describes its symptoms similar to those of the common flu. You will feel fatigue, sore throat, and dry cough. It will also cause a fever. All these symptoms appear in the early stages of the disease. Once it reaches higher stadiums, it will cause respiratory issues. Because of this, it spreads quickly, and it’s hard to stop.
The first case of coronavirus was recorded in Wuhan, China. Once it started spreading like wildfire, all aspects of life in China are endangered. Because of this, it will affect the trade talks between Jinping and Trump. By now, the Chinese President already halved tariffs on 1,717 US goods. With the outbreak of coronavirus, China will need US assistance, which could lead to more yielding from the Chinese side.
The talks between China and America, which should end with signing the second phase of the trade talks is schedule or February 14th. What China needs to do before the talks continue is to contain coronavirus. They want to make sure that their investors can trust the Chinese economy, infrastructure, and transportation. Above all, they want to be sure that foreign workers’ health is secured.
The first step in stopping coronavirus is already made. The Chines province in which Wuhan is located is in lockdown. More than 11 million people are stranded there. This move already took its toll on the Chinese economy. If the virus continues to spread, it could have a deadly effect not only on people but on the Chinese economy.