CORONAVIRUS IMPACT ON CHINA ECONOMY - page 2.

Negotiation

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Quote from: CaVO32 on February 06, 2020, 06:11:53 PM

Quote from: samcrypto on February 06, 2020, 06:00:03 PM

Quote from: Negotiation on February 05, 2020, 03:28:14 AM

I agree with you that China and China's economy are under threat due to coronavirus It has spread to about 14 countries in Wuhan, China. 106 people died in China Researchers believe that around six million people can be killed if the virus spreads around the world. If the whole country is spread they will lose their working power and the economy will be disrupted.

Not just in China but in a whole country that is affected by this virus and there are so many countries now that made a travel banned from and to China, Hongkong and Macau which can affect their economy. I heard on the last news that its already 500 people died because of this virus, I’m not sure but let’s hope that they will finally find the cure and start living normal again, my country is also in a full alert because the cases that we have in increasing and alarming.

this health crisis is very alarming as it can really have significant impact not only in Chinese economy but its neighbouring countries as well as the global economy. just take a look at those 27k employees of Cathay Pacific having a 3-week no pay leave. this is really getting serious and just tip of the iceberg. many companies are losing money aside from losing their employees. i hope those health authorities will find a way how to stop this outbreak and contain immediately. other asian countries are having reported deaths and cases outside China.

https://www.humanresourcesonline.net/cathay-pacific-asks-27000-employees-to-take-three-week-no-pay-leave/

https://www.nytimes.com/2020/02/02/world/asia/philippines-coronavirus-china.html

https://www.straitstimes.com/asia/se-asia/malaysia-confirms-two-new-patients-bringing-total-coronavirus-infections-count-to-14

You are right that it is not just limited to China but Bangladesh and its influence have come to affect the Chinese economy. I heard a while ago that the impact of the virus is now being studied in Bangladesh due to how many Bengali people have returned from China.

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Quote from: iamsheikhadil on February 07, 2020, 06:48:53 AM

I don't think a minor thing like virus can impact the whole economy of such a giant country. There are worse calamities like natural disasters, terrorist attacks, wars. Even then a country survives as emergency funds are stored for such times! Corona did impact but only to a very negligible limit.

well I see the economic condition in China is still stable and not significant movements and this makes me strange because when there is a corona virus that spreads why it gives a good effect on the rising price of bitcoin, the more expensive they should be, the traders are more secure their assets but the fact is the economy in China is still good.

iamsheikhadil

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I don't think a minor thing like virus can impact the whole economy of such a giant country. There are worse calamities like natural disasters, terrorist attacks, wars. Even then a country survives as emergency funds are stored for such times! Corona did impact but only to a very negligible limit.

jostorres

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I know it will blow over and I know china will not be impacted as much as we imagine but can you imagine how awesome would it be if companies started to remove their production from China to all different nations instead of just focused on one place.

Right now, one nation (china) gets almost all production of the world, they literally became the factory of the world and that allows them to make insane amount of profit from everyone and keep making money, but if there was 40 other nations both in Asia and Africa and even maybe smaller European ones and Latin America etc etc all distributed from these big companies instead of china, nobody would have this kind of power over the worlds finances which would help everyone in the whole world and many more nations would get better too.

Questat

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Quote from: Vishnu.Reang on February 07, 2020, 04:26:37 AM

Did anyone checked the revelation made by Tencent yesterday? In their website, they claimed that the real death toll was around 25,000 and more than 300,000 were infected. They deleted the page within a few minutes and claimed that someone had hacked in to their website and posted a fake article. But I am having doubts that this is more in line with the real toll from the virus.

We would not know as it seems like China are controlling the news, they don't want their economy to get destroyed by this epidemic.
Regardless, I think China's economy will still be affected because of this but as soon as they solve this problem, they'll be back in business for sure.
I can already feel the panic, even in our country there is a panic already and I just prefer to say at home for the moment.

just watch the movie The Flu yesterday and I feel i now have an idea on what could possibly be happening in china.

Vishnu.Reang

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Did anyone checked the revelation made by Tencent yesterday? In their website, they claimed that the real death toll was around 25,000 and more than 300,000 were infected. They deleted the page within a few minutes and claimed that someone had hacked in to their website and posted a fake article. But I am having doubts that this is more in line with the real toll from the virus.

philipma1957

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Quote from: michellee on February 06, 2020, 11:28:41 PM

Corona Virus does impact China and another country as we saw on television, many countries cancel transportation from their country to China or prohibit from China to their country. Each government wants to solve how to cure people infected from the virus and until now, the government still trying to figure out how the virus grows.

But there is no correlation with bitcoin because it is not connecting with the virus. The increasing of bitcoin price is not because of the virus, but it's because of the halving that will happen in this year. The coronavirus put attention from all countries, and it's a dangerous thing that needs to be solved in right away.

I hope that the medicine to cure infected people can be found immediately so many people can be saved, and everything will get healthy again.

Well if shipping mining gear stops for a month prices could rise.
People don't send coin to bitmain and other builders.
They have the options to hodl coins this could keep coins out of circulation.

Prices could rise due to this.

How much this effects the world's economy is yet to be seen.
This is certainly hurting China's economy .

I have heard as the worst case it goes worldwide and kills a few million people.

I have heard that it stays well under that and 10,000 people die worldwide.

Either way it is an issue that we will know just how bad it is by May or June.

It could operate more like aids in that it does not wax and wane with the seasons like the flu does.

Killing people world wide like aids did back in the 80's and 90's

Aid was pretty bad and people still die from it now. I think the number is about 21 or 22 million people killed from 1980 to now 2020

Some sources say 39 million of 80 million infected died since 1980.

This virus won't be that bad.

michellee

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Corona Virus does impact China and another country as we saw on television, many countries cancel transportation from their country to China or prohibit from China to their country. Each government wants to solve how to cure people infected from the virus and until now, the government still trying to figure out how the virus grows.

But there is no correlation with bitcoin because it is not connecting with the virus. The increasing of bitcoin price is not because of the virus, but it's because of the halving that will happen in this year. The coronavirus put attention from all countries, and it's a dangerous thing that needs to be solved in right away.

I hope that the medicine to cure infected people can be found immediately so many people can be saved, and everything will get healthy again.

Subbir

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Quote from: Negotiation on February 06, 2020, 08:07:55 AM

Quote from: Golftech on February 05, 2020, 08:56:38 AM

Quote from: Negotiation on February 05, 2020, 03:28:14 AM

I agree with you that China and China's economy are under threat due to coronavirus It has spread to about 14 countries in Wuhan, China. 106 people died in China Researchers believe that around six million people can be killed if the virus spreads around the world. If the whole country is spread they will lose their working power and the economy will be disrupted.

The virus affects the economy of China, knowing that they are one of prominent supplier of every garments around the world. With this issue regarding to Corona virus people who are working with them and having good business are minimizing the trade and transactions that being deal. If this problem continue to spread all over China it will make a huge impact in a down side of their economy.

You have rightly said that the coronavirus will affect the economy of the country because the workers suffering from this disease are unable to function properly so their production system is being disrupted which will hurt the economy.

I think China does trade with Japan additionally to those. China's economy is now being threatened by Japan's export of lions from their country but Japan has stopped commercial transactions due to the coronavirus.

philipma1957

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Quote from: Sadlife on February 05, 2020, 09:08:13 AM

There's even recent news in an article stating that china has printed 1.2 trillion additional paper money in circulation. This goes to show how can a centralized authority manipulate the fiat value and interest rates.

Maybe this could be one of the reason why a decentralized asset like bitcoin is increasing. This price pump always happens when there's global crisis or FUD, when people thinks that their economy might collapse and their fiat holdings might loss value.

If you could find that article please link it so I can read it

Thanks, phil

Saisher

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You already mentioned that they spent billions of dollars on their medical equiptment alone not to mention the lose income of those victims and the the two town of Hubei and Wuhan it does have a huge impact on their economy if this persist longer.

CaVO32

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Quote from: samcrypto on February 06, 2020, 06:00:03 PM

Quote from: Negotiation on February 05, 2020, 03:28:14 AM

I agree with you that China and China's economy are under threat due to coronavirus It has spread to about 14 countries in Wuhan, China. 106 people died in China Researchers believe that around six million people can be killed if the virus spreads around the world. If the whole country is spread they will lose their working power and the economy will be disrupted.

Not just in China but in a whole country that is affected by this virus and there are so many countries now that made a travel banned from and to China, Hongkong and Macau which can affect their economy. I heard on the last news that its already 500 people died because of this virus, I’m not sure but let’s hope that they will finally find the cure and start living normal again, my country is also in a full alert because the cases that we have in increasing and alarming.

this health crisis is very alarming as it can really have significant impact not only in Chinese economy but its neighbouring countries as well as the global economy. just take a look at those 27k employees of Cathay Pacific having a 3-week no pay leave. this is really getting serious and just tip of the iceberg. many companies are losing money aside from losing their employees. i hope those health authorities will find a way how to stop this outbreak and contain immediately. other asian countries are having reported deaths and cases outside China.

https://www.humanresourcesonline.net/cathay-pacific-asks-27000-employees-to-take-three-week-no-pay-leave/

https://www.nytimes.com/2020/02/02/world/asia/philippines-coronavirus-china.html

https://www.straitstimes.com/asia/se-asia/malaysia-confirms-two-new-patients-bringing-total-coronavirus-infections-count-to-14

samcrypto

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Quote from: Negotiation on February 05, 2020, 03:28:14 AM

I agree with you that China and China's economy are under threat due to coronavirus It has spread to about 14 countries in Wuhan, China. 106 people died in China Researchers believe that around six million people can be killed if the virus spreads around the world. If the whole country is spread they will lose their working power and the economy will be disrupted.

Not just in China but in a whole country that is affected by this virus and there are so many countries now that made a travel banned from and to China, Hongkong and Macau which can affect their economy. I heard on the last news that its already 500 people died because of this virus, I’m not sure but let’s hope that they will finally find the cure and start living normal again, my country is also in a full alert because the cases that we have in increasing and alarming.

Blackdeath

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In my own personal opinion, corona virus will not only have an impact in China, but in every country who already have been affected by corona virus that it will cause an economic loss in feedlots through mortality of a human being, the cost of a treatment and the productivity of medicines.

Negotiation

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Quote from: Golftech on February 05, 2020, 08:56:38 AM

Quote from: Negotiation on February 05, 2020, 03:28:14 AM

I agree with you that China and China's economy are under threat due to coronavirus It has spread to about 14 countries in Wuhan, China. 106 people died in China Researchers believe that around six million people can be killed if the virus spreads around the world. If the whole country is spread they will lose their working power and the economy will be disrupted.

The virus affects the economy of China, knowing that they are one of prominent supplier of every garments around the world. With this issue regarding to Corona virus people who are working with them and having good business are minimizing the trade and transactions that being deal. If this problem continue to spread all over China it will make a huge impact in a down side of their economy.

You have rightly said that the coronavirus will affect the economy of the country because the workers suffering from this disease are unable to function properly so their production system is being disrupted which will hurt the economy.

TIDOVEE

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At first, we know that the outbreak of coronavirus in as much as it will affect people psychologically, it will affect their participation in the use of Cryptocurrency in one way or the other. There will be emigration from the dominant areas which will disrupt atleast few peoples function. As a matter of fact, it Should not have anything to do with the price of Cryptocurrency if it is actually a decentralized coin. There is always a sense of making people assume that bitcoin is controlled by the Chinese, if not, would we think of this if the disease was in Africa.

Janation

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Quote from: shoreno on February 06, 2020, 01:29:24 AM

Quote from: Janation on February 05, 2020, 07:35:37 AM

For me, this is just a coincidence.

I mean what is the connecrion of having an outbreak of coronavirus to the price of Bitcoin and other cryptocurrencies? If there will be a connection between Bitcoin and the outbreak, I think that would give a negative effect to the price since people would sell their cryptocurrencies to use against the outbreak.

this isnt about bitcoin but the thread here tackles also economic business in china

Quote from: George Alex on February 03, 2020, 04:20:52 PM

..of Bitcoin always followed by the different crypto markets like Ethereum, bitcoin, BTCH, etc The Question Remain to the community will the CORONA VIRUS favor Crypto Market.

In terms of the economy, obviously it will affect them as this outbreaks happen, it can greatly affect the economy. They were forced to make a hospital for just a week. If it is not a coincidence, then how can we say that this outbreak is the reason of the price increase?

romero121

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China is on the lead in terms of economic development, with the recent corona virus attack the emergency situation within the country and the spreading to different countries around the world has serious effect over the economy. Particularly leading chain network like KFC, McDonald and more has stopped services without any schedule. Almost every functional sector is closed with only the medical industry working actively to beat back the situation.

Lets give hands to the country with our prayers, because when something is uncontrollable only God can rescue by that time. This is the situation of China presently.

el kaka22

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No it won't. Many people have already discussed the fact that corona virus is not something serious, sure it killed a lot of people and wish it didn't but the reality is that people are not afraid of it today then they were just a week ago. If something is less scary in just one week, do you really think that it will be scary for another month? Two months? Every keeps saying the same thing, it will not be a big deal very soon and it already is not a big deal. Sure the economy got affected because if you wipe out the entire economy of a whole city, there is no way economy won't be affected.

However, that doesn't change the fact that in the long run everything will be alright and people will continue life like nothing happened and all will be blown over very soon.

ene1980

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Quote from: Ailmand on February 05, 2020, 04:41:20 AM

A lot of people already died in China, specifically in Wuhan. And in some countries, they are starting to be cautious of the virus since the number of casualties and the number of people getting confirmed infected of the virus is increasing. China's economy had been stricken hard due to this. I believe there is an indirect correlation between the economy and the crypto market.

The death toll is rising on a daily basis and if they are not able to contain the virus effectively then it will create a situation that will impact the entire global market. The entire city is shut down and the markets are shut down for weeks and i wonder how they will be procuring things and i can only imagine the struggle those people are going through.
These situation will have a momentary implication on the economy but it will not affect the growth.

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