The Coronavirus originated in China and is now a global outbreak.
It’s gotten so bad that entire cities in China have been shut down. Cities of 10 million people, normally hustling and bustling are eerily silent. Even Foxconn, the maker of Apple iPhones closed their factories for several days.
China is an economic powerhouse.
The country produces and consumes an enormous quantity of goods and services. Did you know that today, China accounts for 17% of global Gross Domestic Product (GDP)?
Make no mistake, the impact of the Coronavirus is far-reaching. The virus will have an impact on a lot more than just the Chinese economy.
Many forget that China produces an enormous quantity of rough goods and materials. They aren’t just consumers.
For example, the price of Garlic in Indonesia has skyrocketed, up over 50% in the span of a week.