The new coronavirus outbreak and subsequent shutdown of huge swathes of China could impact more than 5 million businesses worldwide, according to a new study.
Dun & Bradstreet researchers found that at least 51,000 companies worldwide, 163 of which are in the Fortune 1000, have one or more direct or "tier 1" suppliers in the impacted region, while at least 5 million — and 938 in the Fortune 1000 — have one or more "tier 2" suppliers.
This assumes a baseline forecast that the spread of the virus is contained by the end of the first quarter, restoring "normal economic activity" in the second quarter. However, the global economic toll would be "severe" if the rate of infection and rising death toll do not abate, with international supply chain disruptions amplifying the shock.
Dun & Bradstreet hypothesized that a major portion of Chinese employment and sales originate from companies within the impacted region.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Chinese coronavirus cases show slight fall; Chinese tourist dies in FranceThe number of new cases of a coronavirus in China fell slightly on Sunday, more ...
Read more »
China says coronavirus curbs start to work; 70 more cases on cruise shipThe number of new coronavirus cases in China fell on Sunday and a health officia...
Read more »
Coronavirus cases rise again in China's Hubei provinceThe number of reported new cases of coronavirus in China's Hubei province r...
Read more »
Pneumonia forces Elton John to cut short Auckland gigElton John's illness comes as health authorities worldwide are on high alert for signs of the novel coronavirus, which has infected more than 70,000 and killed 1,770 in mainland China.
Read more »
Oil prices slip ahead of data pointers on impact of coronavirus on demandOil prices edged lower on Monday as investors brace for economic data in Asia du...
Read more »
Japan’s Economy Shrinks 6.3% as Sales-Tax Increase Cools ConsumptionFollowing a dismal final quarter of 2019, Japan’s economy is facing the risk of a recession because the coronavirus outbreak is hurting tourism and production.
Read more »