With travel curbs, lockdowns and production suspensions all affecting China’s economy, many were trying to calculate and predict the probable impact. JPMorgan analysts downgraded forecasts for Chinese growth this quarter
Chinese firm Xinchao Media said on Monday it had laid off 500 people, or just over a tenth of its workforce, and restaurant chain Xibei said it was worried about how to pay its roughly 20,000 workers.
The World Bank ruled out any new health loans to China, though technical assistance would be offered. “China has its own large international reserves,” its president, David Malpass, told Reuters, wishing China well in handling the crisis. The virus has caused chaos around Asia and beyond, with many flights suspended and entry restrictions imposed.Washington, whose travel measures have offended Beijing, authorized the voluntary departure of U.S. government employees and family members from Chinese-ruled Hong Kong “out of an abundance of caution,” the State Department said.
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