China's GDP, which accounts for about 16-17% of global GDP - second only to the United States with a share of about 25%, is likely to suffer greatly in the first quarter of 209 due to the outbreak of the new coronavirus 2019-nCoV. In 2019, China's GDP growth in 2019 was 6.1%, compared with 6.6% in 208, which is the slowest annual growth since 1990. China's quarterly GDP in the 4th quarter of 2019 was 6%, declining for the fifth quarter in a row since the last peak of 6.9% in the 3rd quarter. 2018 year. This reflects the fact that the Chinese economy has already faced obstacles over the past 15 months, mainly due to the debt bubble and the escalation of the trade war with the United States. A serious outbreak of Coronavirus added a new dimension to it. Although there is no clarity about the exact impact on the Chinese economy, analysts were busy last week, revising their forecasts for the first quarter of 2020. Although most of them tied GDP for the first quarter to about 4%,
Moreover, since China accounts for almost 50% of the share of many industries around the world, Coronavirus is likely to extend to most business sectors. The list includes automobiles, aviation, entertainment, F&B, luxury goods, hospitality and lifestyle, ICT, infrastructure and construction, logistics and shipping, oil and gas, electricity and energy, retail, mining, metals and steel and telecommunications and many others. According to Amenity Analytics, 421 companies from different countries have so far indicated that the rapidly spreading coronavirus in China could have a negative effect on the first quarter financial results.
