More and more business in China, even outside the heavily damaged Wuhan, are temporarily closing their stores or cutting work hours amid coronavirus fears.
Previously, it was only tourism sectors that suffered from the outbreak. However, latest updates indicate that various business sectors fall prey to the epidemic.
For instance, Singapore-based property giant CapitaLand finds the coronavirus outbreaks disturbing their business in China. Additionally, it has to close six of its malls in China, four of those are in Wuhan.
Influential banks UBS and Credit Suisse even have to make their workers work remotely at home. Some of them still open for business, but they do not permit any travel to the mainland branches.
Some countries also apply travel bans to China. The US, for example, does not grant permission for flights to the country temporarily. Indonesian Lion Air Group and Jetstar Asia cancel flights due to safety reasons and falling demands.
Countries such as South Korea and Japan already began their evacuation for their workers in China. Accordingly, they are sending charter flights to evacuate their citizens.
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China Coronavirus Updates aside from Business
John Hopkins University’s real time dashboard indicates an exponential growth of confirmed cases. Accordingly, records confirm 6.057 cases worldwide.
Meanwhile, death tolls increase to 132 as per 28 January 2020, 11 pm EST. Among them, 125 deaths were originated from Hubei.
Besides heavily affecting China, analysts also predict that the outbreak will be a huge blow to other countries’ economy as well.
Singapore, for instance, are afraid that the plague will jeopardize its economy. Mainly, this is due to declining demands on tourism and hospitality, as well as F&B, retail, and transports.
“From Ministry of Trade and Industry’s perspective, we certainly expect there to be an impact on our economy, business and consumer confidence this year, especially as the situation is expected to persist for some time,” said Minister Chan.
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