The outbreak of a new virus that originated in the central-Chinese city of Wuhan...
SAN FRANCISCO/WASHINGTON - The outbreak of a new virus that originated in the central-Chinese city of Wuhan is likely to slow China’s economic growth at least in the near term and could hurt its trading partners around the world.
Powell also acknowledged the risks, including to the U.S. economy, from any slowdown in the world’s second-biggest economy. Airlines including British Airways , United Airlines and Lufthansa are cutting or suspending flights, tourists are canceling trips, and businesses including Apple and Starbucks are warning of the potential impact on their supply chains and sales.
“The coronavirus will likely have the largest negative impact on goods and services sectors within and outside of China that rely on Chinese consumers and intermediary products,” Moody’s analysts said in a report on Wednesday. But as the Moody’s analysts and others point out, China accounts for a bigger share of global economic growth now than it did then, and the world is more closely connected.
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