new Delhi: Deadly Corona Virus is killing people in China. With this, China's economy is also going down due to this transition. On December 31, 2019, 20,438 have been infected due to this virus born in Wuhan city of China. And about 425 people have died. But even more worryingly, this virus is going to have a fatal effect on China's economy.
Loss in tourism at the beginning of the year
Due to Corona virus, the first loss to China has been in tourism earnings. Thousands of people from the world come to China to see Chinese New Year. After the news of corona virus infection at the beginning of new one, very few people went to visit China this year. In view of the danger, the Chinese government has closed hotels, restaurants and tourist places. Due to this, the Chinese tourist industry is also suffering.
Heavy fall in stock market
The impact of virus infection is directly visible in the Chinese stock market. On Monday, the Shanghai Stock Market of China recorded a steep decline of 8 percent. The Chinese market has lost $ 445 million (Rs 3170 crore) due to this decline. In the last 30 days, about 30 lakh crores of investors have drowned in the Chinese stock market. With this, investors have lost about 42,000 million dollars. China's currency yuan has weakened 1.6 percent so far.
China's growth rate likely to fall 2.6 percent
Economic affairs experts say that due to corona virus, there is a bad effect on import and export. Also, the closure of domestic markets and the closure of precautionary cities will have a negative impact on China's gross domestic product (GDP). Experts say that due to this virus, China's growth rate is expected to decrease by 1.1-2.6 percent. It is worth mentioning that due to SARS virus infection in 2002-03, China also suffered a lot of economic loss. According to the data, China's growth rate was affected from 1.1 to 2.6 percent due to the SARS epidemic.