Global equities have slumped across markets as the 2019 novel coronavirus (2019-nCoV) outbreak fanned concerns about near-term risks and triggered worries of far-reaching implications on China’s economy and the potential impact on the global economy. The outbreak is expected to hit China’s economy as consumers are urged to stay home, businesses are shut and public transportation is curbed. More importantly, a marked slowdown in the Chinese economy would likely challenge the country’s policymaking capability and execution of national plans. Concern over a viral outbreak would also deal a blow to Chinese President Xi Jinping’s (習近平) leadership and China’s political situation. The outbreak jeopardizes China’s global image, the morale of its citizens and the coherence of its society.

Source: Taipei Times February 02, 2020 15:56 UTC