China’s exports of vital parts and components for products ranging from automobiles to cellphones are estimated to have shrunk by an annualized 2% in February, costing other countries and their industries $50 billion, a United Nations agency said on Wednesday. The world’s second-largest economy – and epicenter of the coronavirus outbreak that has spread to 75 nations – accounts for a fifth of global trade in intermediate products. “There is a ripple effect throughout the global economy to the tune of a $50 billion fall in exports across the world,” Pamela Coke-Hamilton, director of UNCTAD’s division of international …read more
Source:: Yahoo Finance
