Corona-Virus wirft Schatten auf Chinas Wirtschaft

The Chinese service sector has to accept a significant drop in sales. At the same time, the government has jeopardized its credibility.
The outbreak of a previously unknown lung disease in the central Chinese metropolis of Wuhan comes at a very bad time for the world's second largest economy. A ceasefire has just occurred in the Sino-American trade dispute with the signing of a partial agreement. Almost at the same time, hundreds of millions of Chinese have prepared themselves for the week-long celebration of the Chinese New Year beginning on Saturday.

During this festive period, the Chinese are particularly keen to spend, which usually gives the economy a powerful tailwind at the beginning of the year. But with the growing number of infections with the new type of corona virus every day, the economic uncertainties increase almost hourly. "The negative economic consequences should not be underestimated," says a comment from the Japanese financial firm Nomura. This view also seems to be shared by the Chinese stock exchanges, which are closed for six days due to public holidays. The CSI-300 index fell 5% Monday through Thursday.