Coronavirus a Challenge for China’s Economy

The novel coronavirus (2019-nCoV) has now infected nearly 10,000 people worldwide, with over 200 mortalities reported as of January 31, 2020. The majority of cases have been in Wuhan, China, where it originated, though more are being identified across a dozen other countries. The World Health Organization held a second emergency committee meeting on January 30, 2020 and declared the coronavirus an international global health emergency. The epidemic is likely to negatively impact China’s economy and regional trading partners, at least in the short term. Depending on the international spread of the virus, other countries could also see a measurable impact on consumer demand.