Coronavirus to Hit Korea and Japan Hardest, Natixis Says
- Natixis estimates damage to Asia from closed factories
- China’s trade dominance means shutdown resonates across Asia
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China’s increasing dominance of global trade means that the ongoing shutdown of many factories will resonate across Asia, doing the largest amount of damage to the economies of South Korea and Japan.
China’s share of global manufacturing is much higher than during the SARS outbreak in 2003, and it’s also exporting a lot more intermediate goods, so any disruption to output has a larger effect across the region, according to economists at Natixis SA in Hong Kong.