When we think of the Coronavirus we usually think about the impact on China's health issues. However, we tend to forget that China is one of the largest distributors of parts and products to the US. For example, Apple stocks 2% because they had to close down several of their bases in China. "And even if companies are able to produce goods, there are hurdles in shipping those goods to consumers. Companies are running short of packing materials, while many shopping centers are closed. With fewer flights and ships coming to and from China, less room is available to ship goods overseas" Mr. Wuttke said. Apple has closed approximately 42 retail stores in China and with this virus being more and more dangerous we are going to see how it affects more companies with time.
Feb. 18, 2020 10:57 am ET
This is definitely a topic that we should all be talking about since China does indeed export many of goods to the U.S. Apple is one of many other businesses that are having to stop conducting business in China. It seems like we are mostly focusing on the virus but not about how this virus is impacting many businesses.
ReplyDeleteThis blog shows the economic impact of the external market environment by which companies in China are being tremendously affected due to the corona virus. The impact is huge and major international companies are been extremely affected, not to mention employees and smaller businesses. With this specific blog, technology sales are been affected. China's economy is falling apart and it is tragic to see how the corona virus is affecting the economic, technological and sociocultural aspects of the external market environment in the country.
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ReplyDeleteI found this blog very interesting as it is a topic of great importance. We should all understand and be talking about the impact this virus is having on marketers and consumers internationally. This virus is spreading rapidly and many companies have already been affected by it. Some people wont consume certain products because the name "corona" is in it. Also, they won't consume products that came from other countires, which is all understandable. But we must contain it before the market is extremly damaged.