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Coronavirus threat ‘very grave’ to world, not China, says WHO
Why is it in news?
- The coronavirus outbreak in China may be over by April, Chinese senior medical adviser said on Tuesday, but deaths passed 1,000 and the World Health Organization feared a “very grave” global threat.
More in news
- Spread outside China: Only 319 cases have been confirmed in 24 other countries and territories outside mainland China, with two deaths: one in Hong Kong and the other in the Philippines.
- Impact on economy
(1) JPMorgan analysts downgraded forecasts for Chinese growth this quarter, saying the outbreak had “completely changed the dynamics” of its economy.
(2) Investment bank Nomura’s analysts said the virus seemed to have had “a devastating impact” on China’s economy in January and February and markets “appear to be significantly underestimating the extent of disruption”.
(3) Inside China, more than 300 companies are seeking bank loans totalling 57.4 billion yuan.
Sources
The Hindu