Topic: CORONAVIRUS IMPACT ON CHINA ECONOMY (Read 866 times)

Are you sure only 900 people died in china from Corona virus ?  I think there are a lot of more causalities and those who are suffering from this virus and still alive are alarming in number. China is cut from the whole world because no one will buy china products and they will avoid going to china too.
The growing economy of china will suffer a big set back because of this virus.

The latest update was appears that the effect for this epidemic have started to feel that small bussiness such as mini market, restaurants or hotels empty with no visitors and people outside Wuhan have started to complaining about this and many economy experts predict if China cannot eradicate this virus the impact will be very huge for them and as China have important role for global economy then world economic growth will slow down

We should all help China overcome this problem But since the virus isn't transmitted to the other country communication has been stopped so their economy is more threatened. It should be suppressed as soon as possible with the assistance of all folks Otherwise, the virus will cause more damage worldwide.

If discussing the economy in a fiat country in China is indeed possible when there was a virus like yesterday there was a slight decrease in prices but if from the cryptocurrency side it seems unlikely to decrease because soon there is a halving event that makes bitcoin more expensive then it is very unlikely if the price of cryptocurrency collapsed.

Haven't an effect in the long term, it will only affect for a moment and revive, the reason being that is China is producer countries, produce many products at low prices that are in great demand (I'm not talking about quality of goods). this is a fact that is happening in my place which is flooded with products from China, as soon as they are able to deal with what is now a global problem their products will again flood other countries.
China has gone through a lot of bad things and time is proving they can get back up quickly

China would surely need to suffer the loss due to the corona virus. That virus is already been spreading in some important cities of china and it is making a lot of people suffer from the illness. This is also leading for more sick people who can't continue with the regular jobs which might impact the economy of china.

As far as I know, export of food is stopped by china to avoid contamination of corona virus to any other parts of the world. You said that more than 170 people died due to corona virus but the actual number is more than that. Few days ago, more than 450 people died in china because of the outbreak and I guess the number might have increased till today's date.

The thing is that there would be always something happening in the world. There were a lot of different disasters, but not all of them affect a crypto market. China has a steady economy, so they wont bother themselves to store some money in crypto. So as i think coronavirus wont affect bitcoin or eth price.

Any kind of such harmful virus might make people fear for their lives which would hardly allow them to leave their places. Also people would avoid going in over-crowded places which might even affect the local markets. In any country, strict measures are been taken in place where such kind of virus outbreaks. Swine flu was one of such virus which made a number of people lose their lives and now the same can be seen in case of corona virus.

A strong antidote is been required in order to stop contamination which is not yet found I guess and that is what makes people fear more and care about their lives. In such situation the economic condition of china would surely be affected but it won't take much time to get their routine back to normal once antidote for such virus is been unleashed.

I can see the direct correlation between coronavirus outbreak and the economy slowdown. For example, many people refuse to go to work because it is safer stay at home. The ramifications of the outbreak are continuing to affect lives and businesses in the region. It also affected the crypto space.
The TOKEN2049 crypto conference, planned for March 17-18 in Hong Kong, has been pushed back to October.

I think over 900 people's died in china and in the others some countries a few died for affected Corona virus. Definitely this is a big economical push for china. Air space is almost disconnected with most of the countries, so that many people's can't move in their own countries. For this crisis not only threaten for china because china's business spread in the world wide. Population based it was big country in the world. Pray for china to overcame this situation.

The outbreak of Corona virus in china will adversely effect the economy of china. People will not travel to china and also they will hesitate to meet people coming from china to other countries. Already many students of other nationals have brought them back to their country and also their tourist, industry will suffer the most.

They should make necessary arrangement to stop the outflow of this virus and also it will be best if they can develop a vaccine for this virus. This will reduced the tense situation to some extent.

Well, Japan is the leading country that helped China. It is not just because as a neighboring country they needed it but also because Japan is also affected by the outbreak. Their economy is somewhat connected to China since they are exporting their items in China. You can read the whole story of this problem in this link

economists are predicting that there will be 2% drop in china economy growth , obviously this epidemic will cause china lose economic growth such a big economy where people are not allowed to travel and many industries have stopped there operations will cause negative economic impact . just look at the stock index its a blood bath , negative numbers will grow considering the virus is spreading so fast taking many life 30k people infected and 1k people died

Chinese trade is affected by this disaster situation. A significant part of bitcoin mining takes place in China. What will be the result in the case of a possible electrical breaker? There was a suspicion in production goods from China. In this case, will the Chinese government turn to the blockchain economy?

i havent expected that the effect will be this alarming and long. it should be stop as soon as possible and health experts across the region should unite and immediately find the best way to stop this epidemic. even the neigbouring countries are now feeling the impact of this crisis.

Yes tourism is one of the most affected field in the country right now, everything that came from the country is rejected by lots of countries like people, goods etc. Yes from the inside they can mostly survive the economic attack of the virus for what you have said they have emergency funds but the main problem is their connection between countries, their economy when it terms to goods being exported, they are really affected.

I think it affected the economy of the country. As the outbreak is happening there are a lot of happening and one of them is tourism. They stop accepting people while the outbreak is happening. Importing and exporting is also stopped, that is so bad as they are one of the biggest exporter of the world.

China is similar with a massive production machine and it is hard to be stopped. It is true regarding the negative influence of coronavirus crisis over China's economy and in the same time affects all of us. Many companies cries out that they have no parts to assemble various products because of China's situation.

if the corona virus certainly has a negative impact on the economy in China, even the whole world will be affected too, because we know that the dependence of most countries in the world on China, but here I see the crypto market is increasing, maybe many people are securing their wealth on the crypto market for their better future

That isn't minor, if that is minor, it should not case any panic.

There's a lot of news out there, there was a virus in the past called SARS and it has impacted the economy of China, and according to the experts, this new virus is a bigger one, hence the effect would also be bigger.

https://www.nytimes.com/2020/02/03/business/economy/SARS-coronavirus-economic-impact-china.html

https://foreignpolicy.com/2020/02/03/knock-on-effects-china-coronavirus-weak-economy-markets/

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.

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.

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.

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.

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.

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.

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.

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.

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.

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


 Thanks, phil

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.

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

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.

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.

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.

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.

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?

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.

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.

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.

this isnt about bitcoin but the thread here tackles also economic business in china   . the virus really have a major impact on thier local economy because the importing and the exporting of goods is strictly prohibited now plus the migration or people too  .jobs were now affected as well  .  during the virus outbreak the price of bitcoin rises too  and i think its not a co incident  because before when there is no outbreak , the price hardly move . people could be foccusing on other things other than foccusing on thier bitcoin accounts  .

This virus somehow affects China's economy. Foreigners will be afraid to travel to China and some country are banning flights from and to China and it can affect their economy since tourism is a factor that helps a country to grow their economy, including their exports. But since their country is one of the strongest among all, they can easily recover from it. So it won't drastically drag their economy down. I think their research and development can find solution for this virus outbreak.

As for crypto, it won't give much impact to the market unless people would be panicking. It's the China's economy that will be affected by this but not totally crypto.

I feel like it will have a short term financial trouble for China but in the long term they won't have a big issue. China is literally the cheapest place you can make your products from and it won't change for years to come as long as people do not care where it comes from.

I have a friend who recently got funding for starting his own company and he is making a board game, he was dealing with a Chinese manufacturer to get the game ready and the quality was actually better than anywhere else he looked, now that the corona thing started and it is bad for business to get it made in china, dude had to find another country and only country with remotely same level of quality was in Europe and he will have to pay 3x the amount he normally would have paid in China, and it is not even as good as the Chinese, just closer than other places.

So, when all of this is over, people will certainly go back because unlike the stigma of Chinese products, it turns out the quality is actually very nice there and it is still a lot cheaper than anywhere else with better quality.

You are right there will be a huge impact if it is not controlled as soon as possible. It will have an impact on several ways first the money spent on the disease containment is an added expense along with their usual spending budget, of course, it is for the people and their lives but if we see with economy perspective a lot of money will be spent on it.

Several people lakhs of people forced to stay inside the house their income will be affected thereby decreasing the sales of the goods which will impact all the company's profits and sales figures.

Apart from the sales, there will also be a huge impact on production due to unavailable workforce or delay in various other management processes all these affect the production which might impact the delivery schedule, etc So all these will slow down the economy and have an impact on the GDP growth.

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.

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.

I don't see any correlation between what is happening on China and crypto in general. Maybe because of the sentiments and the fact that most of the mining pools are coming from China or its just the halving itself that makes the price of Bitcoin higher .

In terms of the economy, yes it has a huge impact on them. When the SARS spread many years ago, their economy went down drastically.

Now they don't want this to happen again so what they are doing? People can't access to the internet anymore and those people who are sharing the true information of what is happening right now to China is being hunted already by the police. They are doing this to prevent what happen to their economy when SARS spread across the world.

Anyway, I commend the Chinese Government as they are doing everything just to stop the virus to be spread. Now China is suffering another disease again in Bird Flu. How can they handle this right now?

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.

I am pretty sure that the coronavirus which is happening right now will be have a strong affect to the economy of China because we all know that if a virus especially a dangerous virus get close to your country then a lot of people will be scared so people and animals will get some virus also and this would probably become a problem so when they die the economy of the said country will dump.

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.

Investors decision in regards to crypto investment will depend and is affected by the current state of the economy. It may not significantly affect the market but still it can have an impact.

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.

There is no correlation between the coronavirus and the ups and downs of the price of bitcoin. The Coronavirus happens to be attacking China, whose economy is slowing due to a trade war. The key question now is how bad is the impact of the coronavirus on the Chinese economy. It is difficult to get reliable data from China. Usually, during the Chinese New Year period, it is difficult to measure how many people are working or producing goods.

The impact of the virus that has made large cities fully or partially isolated. Isolation can harm growth if it lasts for a long time. As an exporter of fresh seafood products (mud crabs, pearl lobsters, and red coral trout) to China and Hong Kong, I really feel the impact of the Coronavirus, which is falling demand and price damage, usually before the Chinese New Year prices go up but this year prices are down.

What is clear is that various measures to control the virus will incur a lot of costs that will affect the ignition of the Chinese economy in the first quarter and will have long-term effects. The extension of the new year's holiday period also affected output productivity in the first quarter. Isolation causes limited transportation channels and will have an impact on tourism, transportation, retail and food distribution throughout China. So in essence, state spending is increasing but revenue revenues are reduced because of the Corona outbreak.

Hopefully, the high impact of the Coronavirus is only short term and can be overcome immediately.

When we are talking about a country's economy, this kind of epidemic definitely ruin their economy. Imagine, their country freeze for a while; the businesses are on halt, the financing is affected and as well as manpower. So technically speaking, their economy in this time is on decline for sure. However, the crypto market is not working the same with the other, it will not be affected or at least only got minimal damage since it exists in th Internet. Actually this might be in favor of crypto because Chinese investors (whether whales or small) are likely forced to isolate inside their rooms and face the monitor which means more time for them to deal with crypto .

It makes everyone wonder if there's really an effect to the bitcoin economy about this virus but until now, there's no validation with that. Let's go back to China's economy. Because of the closure of other borders and isolating the affected areas, this is now one of the effect of it;
Chinese stocks suffer worst day since 2015 on coronavirus fears

And recently Chinese governments printed more money to survive a critical moment.
That obviously lead to yuan weakening and with that being said we already can tell - coronavirus affected China's economy at this point

It will have an impact on the economy, right now the province of Wuhan is lockdown and there are no ongoing trade or business going on on that city, and the whole Chinise business all over the globe and on China suffers because they cannot send their goods and workers cannot work because of this epidemic and other nations are restricting the flow of Chinese citizen and products in their country.

I suppose in this case everything will depend only on how much China hides the scale of the epidemic.
Judging by what official data we see, there is nothing to fear, not many people are infected, not many people have died.

The mortality rate of the virus is only 1%, which is quite small. In the same flu, mortality is much higher.
Therefore, I do not think that the virus will hit the Chinese economy hard, in any case, judging by official data.

I don't think this is going to be temporary and not only will affect the Chinese economy.We all knows that still there is no cure found for the virus so its still spreading and all over the world the reports of affected people keep coming.

China exports lot of goods over other countries so if their country stops doing this then the prices of these goods will increase but for other country people it may not be affordable to buy and also the tax income from those products will get affected for importing countries.

I don’t know that for sure. Before the start of this year the predictions were that the increase of Bitcoin will come from the halving. And those predictions have been made before the Corona virus outbreak. During the outbreak some people started saying that there is going to be a fall in the Bitcoin price due to the Corona virus and that never happened, instead the price of Bitcoin kept going up and then they started saying the situation will make the price of Bitcoin to increase lol.

People are seriously confused. I would say that this has nothing to do with Bitcoin, the only thing I think is causing her price to go up is due to the Halving that’s approaching.

Corona virus impacton China's economy will be temporary. But if you think that there will be no impact on the economy, then you are wrong. You can start with the Shenzhen Stock exchange index and Shanghai stock exchange index.

Shenzhen stock exchange:
22 Jan - 11072
3 Feb - 9779

Shanghai stock exchange:
22 Jan - 3060
3 Feb - 2746

However, this trend is not going to last forever. The impact will be temporary!

I agree with you! The price increase in the current crypto market tends to be driven by Halving, as mentioned by @fiulpro above.

Coronavirus outbreaks should not be a factor in rising prices on the crypto market, because if so, (maybe) someone would expect another virus outbreak to occur.

They isolated 6 cities over 62,000,000 not 11,000,000

This will set China backwards.  How backwards?

Depends if it grows to 200 or 300 million or starts to shrink down from 62 million to normal numbers.


Actual victims of virus appears to be under 100,000 . With under 1000 dead.

Hard to tell how bad it will get.

It could be one, or it could be both (halving and virus). But there's really no way to know whether it affects it or not. I'm on the side of it having little to no effect though. Simply because, Corona virus was found early, and vaccines were made early. Not only that, before the spread of the virus to other countries, a lot of them were already quite prepared with what to do in terms of its spread in their countries.

Additionally, let's be real here. Investors and traders alike should know the repercussions of a virus, and so, would build up research upon its effects on the world so that they could take action depending on the results. Seeing as the virus is not at the stage where the whole world is in immediate danger, plus with the quick movements of various countries regarding the cure, It's highly unlikely that investors would try and use BTC as an escape towards the economy of China through buying them out continuously.

I suppose there is no direct correlation between the NCoV outbreak and its effects to crypto markets, not unless a formal study is conducted systematically.

Now I'm inclined to believe that BTC and other crypto fundamentals are getting good that retail investors are now becoming more confident with crypto investing. I hope I'm right with that assumption.

Yes there will be an impact on the economy. Aside the direct impact of businesses closing shops, people being forced to take breaks and work from home  which translate to lower productivity couple with the inability to move across the city with every business that serves that purpose. That is the local impact to their economy. Outside the local economy is the amount of flight canceled which had earlier being billed to go there, the number of import and export activities that will be put on hold because of the virus without limiting the cost attached of containing the virus. Put all of these together, 2% prediction is just being economical with the truth.

Given that the incubation period is up to 14 days, the virus could easily spread quite widely around the world.
And if the coronavirus is so harmless, then why completely cut off from communication with the world, a city with a population of 11 million people?!
Everything can be much more dangerous than many people think.

Although corona virus is not directly related to money, it still has an impact towards China's economy. Corona Virus is not joke that it is spreading faster and faster so people can easily get it when they go to an affected area. People will not go out in their houses because of the fear of having the disease, so the government advises the public not to go out. Many people will not go to work because it is safer not to go out. But the cryptocurrency is still the same because the use of blockchain technology in China doesn't require people to go out. It only needs your account and wallet but you can't withdraw money outside.

Remember how many other virus outbreaks we have in the last 10 years? People also talked about this, made their arrangements, etc. But now we don’t even remember what happened. But we are talking about a coronavirus, which it will also soon forget, because we will discuss something else.
I don't think that the coronavirus epidemic will somehow affect China. Even in China (where the virus began to move), not many people got the virus.

Firstly one should understand that it's not necessary that because of a virus outbreak bitcoins grew drastically.
No , it's nothing like that.
I do think it is because of the Halving which is gonna be here soon enough .
Yes there are certain factors that come into play and we cannot just individually sort everything out but I would say as long as a  virus outbreak is concerned it had maybe 1-10% hand in doing something like this .
Halving is a very major event that everyone has been waiting for since a long long time.
The Virus is pandemic but not that drastic it's just unknown.

ECONOMIC BUSINESS


WUHAN  city of China where the coronavirus outbreak emerged. Estimates vary on the exact size of the population, with local government officials putting the figure at 11 million, though UN data from 2018 says 8.9 million people live in the central Chinese city. Either way, the city is around the same size as London, but much bigger than Washington DC. One estimate makes it the 42nd biggest city in the world, and the seventh biggest in China.

The economic impact of the virus is still Hard to determine, but one state media outlet and some economists have said that China's growth rate could drop two percentage points because of the outbreak. A decline on that scale could mean $62 billion in lost growth, as China contended with rising debt and the fallout from its trade war with the United States.
Central and local governments have allocated $12.6 billion so far to spend on medical treatment and equipment. Some Banks in china have cut interest rates for most hit areas while Bank of China Encourage it would let people of Wuhan Area of CORONA VIRUS outbreak and rest of Hubei delay to their loan payments if they lost source of income due to the incident for several months.
Some Economist says China's economic growth may drop to 5 percent or even lower due to the coronavirus outbreak, possibly pushing policymakers to introduce more stimulus measures. The fast-spreading outbreak, which has killed more than 170 people and infected between 6,000 to 7000 in China, could cut first-quarter gross domestic product (GDP) growth by about 1 percentage point'.
"GDP growth in the first quarter of 2020 could be about 5.0 percent, and we cannot rule out the possibility of falling below 5.0 percent," Said Economist

CORONA VIRUS IMPACT ON DIFFERENT CRYPTO MARKETS

BITCOIN

As the virus spread, the BTC price grew sharply, reaching $9,439 on January 28, 2019. And always know the effect on the change 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.    

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