February 10, 2020

Thetechtricks.com

Premier Pakistan technology news website with special focus on startups, entrepreneurship and consumer products

The global market is being affected by the Corona virus

The global market is being affected by the Corona virus
The global market is being affected by the Corona virus

WebDisk – Michael Brandac is one of the merchants who manufactures and relies on products in China. He has placed a number of orders to Chinese factories and is worried about the impact of the Corona virus on them.

“The factories are due to open next week, and I think at this point we will find out what the magnitude of the Corona virus is really about,” said Michael Brandac, president of SF Global Sourcing.

A factory with which they have business is in the suburbs of Wuhan. The city has been closed for several weeks due to a deadly virus outbreak and is banned from coming there.

American companies fear China’s new lunar eve will delay the delivery of products to factories due to holidays. But this time, due to the Corona virus, the Chinese government has extended the holidays, affecting many factories.

Hyundai, West Korea’s leading automobile manufacturer, has temporarily halted the manufacture of its vehicles and has been hampering the supply of China-made parts.

The pharmaceutical industry, automotive, electronics and retail businesses are said to be the most affected.

At a time when China is battling the Krona virus, experts say it’s unclear how much the virus will disrupt global supply.