The coronavirus is threatening to disrupt large parts of China's manufactur...
SHANGHAI/BEIJING - The coronavirus is threatening to disrupt large parts of China’s manufacturing machine and its global supply chains as the spread of infection and strict public health measures force companies and workers to remain idle.
Widespread travel restrictions, meanwhile, mean millions of migrant workers may be unable to return to what has often been called the world’s factory floor. “If we can’t get back to production quick enough, I’ll run out of inventory, and I’ll have a few months where we won’t be able to sell anything. And that’s the catastrophe that we all don’t want,” Miller told Reuters.
A woman surnamed Chen, who co-owns a garment factory in Huizhou in Guangdong province, described the virus and shutdowns as being like “frost on top of snowfall.” The risk of a shock to business and consumer activity prompted one Chinese government economist to forecast economic growth may drop to 5%, or lower, from 6.1% in 2019. During the SARS epidemic in 2002-03, growth fell two percentage points but rebounded quickly once that outbreak was brought under control.
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