https://sg.finance.yahoo.com/news/economic-contagion-spreads-beyond-china-023325202.html
Yes, economic contagion will spread beyond China to the rest of the world and not just Asia. Europe and the US won't be spared too!
In fact, economic fissures have started to appear in the US due to the covid-19 outbreak.
The largest port in the US (Los Angeles) is projected to have a 25% drop in container volume in Feb 2020 due to the covid-19 outbreak.
https://www.seatrade-maritime.com/ports-logistics/port-los-angeles-expects-25-drop-feb-container-volumes-due-coronavirus
If the US GDP is still showing a good number, it will only mean that its imports are dropping more than its exports and this phenomenon is distorting the GDP growth. Since import denotes future consumer demand, a declining import figure means that the local consumption is falling. Please click on the link below for more explanation on GDP.
http://sg-stock.blogspot.com/2020/01/the-upcoming-us-gdp-will-be-better.html
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