Coronavirus outbreak SHANGHAI/ TOKYO: The outbreak of coronavirus ( COVID- 19) has left a major impact not only on the economy of China but also of Japan and Singapore, which are staring at recession, reported Reuters. Singapore has downgraded its gross domestic product ( GDP) forecast for 2020 to around 0.5 per cent, the midpoint of a new estimated range of (-) 0.5 per cent to 1.5 per cent on Monday, citing impact of the ongoing crisis.
ADVERTISEMENT
In Japan, the economy showed a decline at fastest pace in about six years, according to reports that cited the Japanese government data released on Monday.
u201c Thereu2019s a pretty good chance the economy will suffer another contraction in January- March.
u201c If this epidemic is not contained by the time of the Tokyo Olympic Games, the damage to the economy will be huge,u201d he said.
China may delay parl session Meanwhile, China is considering a rare move to postpone its annual parliament session scheduled to be held on March 5 as the country grapples with the coronavirus outbreak that has claimed 1,770 lives as of Sunday.
If the 13th National Peopleu2019s Congress ( NPC), which is held every year along with the advisory body Chinese Peopleu2019s Political Consultative Conference ( CPPCC), is postponed, it will be regarded as an unprecedented move.
The ruling Communist Party of China ( CPC) considers the two sessions as significant political events to adopt its national agenda, including the annual budgets.
Together, the NPC and the CPPCC have over 5,000 delegates.
China is discouraging large gatherings to prevent the spread of the virus.
Agencies In Japan, the economy showed a decline at the fastest pace in about six years. PIC/ AFP Japan, Singapore staring at recession India to send medical supplies India will send medical supplies on board a special relief plane to Chinau2019s Wuhan city this week and bring back Indians as well as citizens from all neighbouring countries who are still stuck there, on the return flight, the Indian Embassy said on Monday.
Meanwhile, two more Indians on board a quarantined cruise ship off Japan have tested positive for the coronavirus, taking the number Indian nationals infected with the virus on the vessel to six, stated a statement on Monday. The Indian Embassy in Tokyo said that 99 new positive cases on- board Diamond Princess have been confirmed on February 17, bringing the total number to 454. The United States on Monday evacuated its 340 nationals from the ship.
Cases detected outside China Japan ( 65, 1 death) Hong Kong ( 58, 1 death) Philippines ( 3, 1 death) Taiwan ( 22, 1 death) France ( 11, 1 death) Singapore ( 77) Thailand ( 35) South Korea ( 30) Malaysia ( 22) Vietnam ( 16) Australia ( 14) Macau ( 10) India ( 3) Nepal ( 1) Sri Lanka ( 1) Cambodia ( 1) USA ( 15) Canada ( 8) Germany ( 16) Britain ( 9) Italy ( 3) Russia ( 2) Spain ( 2) Finland ( 1) Sweden ( 1) UAE ( 9) Egypt+ Belgium ( 2) 1,770 Death toll in China as of Sunday 70,548 Total no. of infected cases
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
