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India Hoards Facemasks, Supplies As Coronavirus Spreads To Russia, UK
01-31-2020, 10:56 AM,
#1
India Hoards Facemasks, Supplies As Coronavirus Spreads To Russia, UK
India Hoards Facemasks, Supplies As Coronavirus Spreads To Russia, UK

<span property="schema:name" class="field field--name-title field--type-string field--label-hidden">India Hoards Facemasks, Supplies As Coronavirus Spreads To Russia, UK</span>

<div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p><u><strong>Summary:</strong></u></p>

<ul><li>UK confirms first two coronavirus cases after multiple scares</li>
<li>Confirmed cases in China rise to 9,692 from 7,700 a day earlier</li>
<li>Risk-off mood hits stocks</li>
<li>Impact of virus <a href="https://www.zerohedge.com/economics/rigged-china-pmi-shows-services-industry-accelerated-coronavirus-put-tens-millions-under">"not fully reflected"</a> in rigged China PMI number</li>
<li>At least two-thirds of China's economy to stay shut.</li>
<li>Goldman <a href="https://www.zerohedge.com/political/wilbur-ross-says-chinas-coronavirus-outbreak-will-help-bring-jobs-back-america">disagrees with Ross</a>, says virus blowback will wipe 0.4% off US GDP growth</li>
<li>'The U.K. health department confirmed two cases of coronavirus in England on Friday, while the U.S. and Japan advised citizens to avoid traveling to China.</li>
<li>Hong Kong schools shuttered until March 2</li>
<li>Singapore closes borders to Chinese travelers, first southeast Asian nation to do so.</li>
<li>More than 43 airlines cancel flights to China</li>
<li>France successfully evacuates citizens</li>
<li>1,000 suspected virus cases 'under observation' in India</li>
<li>Confirmed cases near 10,000 as Russia confirms 2</li>
<li>JPM cuts global growth forecast</li>
</ul><p>* * *</p>

<p><strong>Update (0920ET):</strong> India just created a law to ban the shipping abroad of facemasks and other supplies needed to fight an epidemic. Now that cases have been confirmed in India, it's all hands on deck.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en" xml:lang="en" xml:lang="en">Breaking: India bans export of of all varieties of personal protection equipment including Clothing and Masks including N95 masks <a href="https://twitter.com/hashtag/wuhanconoravirus?src=hash&ref_src=twsrc%5Etfw">#wuhanconoravirus</a> <a href="https://t.co/oL0BLVsQTk">pic.twitter.com/oL0BLVsQTk</a></p>
— Sidhant Sibal (@sidhant) <a href="https://twitter.com/sidhant/status/1223244776969068545?ref_src=twsrc%5Etfw">January 31, 2020</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>So governments are now hoarding supplies to fight this virus as Wuhan remains totally screwed.</p>

<p>* * *</p>

<p><strong>Update (0845ET):</strong> The total number of confirmed cases worldwide is creeping closer and closer to 10k. In the latest cases to be reported in the press, Germany has confirmed a sixth case - a child in Bavaria, according to the Guardian. The child is related to an employee at a Munich company where four others were infected, virtually guaranteeing that this will be confirmed as a human-to-human transmission.</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%208.50.07%20AM.png?itok=HT4jx3xD" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%208.50.07%20AM.png?itok=HT4jx3xD"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%208.50.07%20AM.png?itok=Orq2tdaV 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%208.50.07%20AM.png?itok=Orq2tdaV 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%208.50.07%20AM.png?itok=Orq2tdaV 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=Orq2tdaV 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%208.50.07%20AM.png?itok=Orq2tdaV 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Screen%20Shot%202020-01-31%20at%208.50.07%20AM.png?itok=HT4jx3xD 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="6fa3f906-a680-43e3-aa81-0238958f8a5f" data-responsive-image-style="inline_images" height="480" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202020-01-31%20at%208.50.07%20AM.png" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Meanwhile, 83 British citizens have been successfully evacuated from Wuhan. There were another 27 passengers on the flight who weren't British nationals. They will all be quarantined for two weeks at Arrowe Park hospital in Wirral.</p>

<p>* * *</p>

<p><strong>Update (0745ET):</strong> Like the UK, after several false alarms, Russia has now confirmed its first coronavirus cases, Deputy PM Tatiana Golikova confirmed, according to <a href="https://www.rt.com/russia/479731-russia-first-coronavirus-cases-confirmed/">RT</a>. Russian media said two cases have been confirmed, and are now in isolation.</p>

<p>Two Chinese citizens have been diagnosed with the coronavirus in Russia’s Zabaikalsky Krai and Tyumen Oblast in Siberia, Golikova said on Friday.</p>

<p>In other news, analysts at JPM have released their own projections for how the outbreak will hurt global growth: analysts at the biggest US bank shaved its forecast for global growth by 0.3% points for Q1.  "Based on the patterns observed from other epidemics, we assume that the outbreak will likely run its course over 2-3 months, meaning the hit to activity happens in the current quarter," JPMorgan analysts wrote in a note to clients. "Also in line with historical experience, we expect a full recovery to follow."</p>

<p>Goldman, meanwhile, forecast that the outbreak would shave 0.4% off Q1 growth in the US. After shuttering its land border with China, Russia said it's weighing whether to temporarily halt working visas for Chinese nationals, in the latest repudiation of the WHO's insistence that traveling to China is still 'safe.' The Vampire Squid also cut China's 2020 GDP growth expectations to 5.5% from 5.9%</p>

<p>These, added to the latest count of confirmed cases from China, has sent the number of confirmed cases over 10,000.</p>

<p>* * *</p>

<p><strong>Update (0650ET): </strong>India has only confirmed a single case of the virus, and the victim's condition is said to be improving, But the Guardian just noted that there are 1,000 people under observation in various parts of Kerala. 15 are in isolation wards in various hospitals.</p>

<p>Authorities were attempting to contact all the passengers who traveled on a flight from Kolkata to Cochin on Jan. 23 that the infected patient had been on, a day after she traveled from Beijing.</p>

<p>Meanwhile, earlier, Carrie Lam, Hong Kong's chief executive, offered some insight into the WHO's insistence that countries don't need to curtail travel to China, when she insisted that a complete border closure is "not the right answer."</p>

<p>* * *</p>

<p>For a few hours on Friday, the global community will turn away from obsessively following outbreak news to acknowledge the UK finally leaving the EU. But with US stocks on track to open in the red once again now that the first cases have been confirmed in the UK after multiple scares, all other news on Friday will be more or less irrelevant.</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%206.16.07%20AM.png?itok=gYe__UEQ" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%206.16.07%20AM.png?itok=gYe__UEQ"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.16.07%20AM.png?itok=anGN4q5k 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.16.07%20AM.png?itok=anGN4q5k 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.16.07%20AM.png?itok=anGN4q5k 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=anGN4q5k 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.16.07%20AM.png?itok=anGN4q5k 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Screen%20Shot%202020-01-31%20at%206.16.07%20AM.png?itok=gYe__UEQ 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="4ba7bb26-293a-46a0-b58a-5d4b547468c9" data-responsive-image-style="inline_images" height="375" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202020-01-31%20at%206.16.07%20AM.png" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Though the WHO insisted that restricting travel to China during the outbreak simply wouldn't be necessary, airlines and governments continued to cancel flights and tighten border restrictions. American Airlines has acquiesced to the pilots union, which filed a lawsuit demanding that flights to China be cancelled, and cancelled two of its routes. According to <a href="https://www.businessinsider.com/airlines-canceling-changing-flights-to-china-amid-coronavirus-fears-2020-1">Business Insider</a>, 43 airlines - Lufthansa, British Air, United, American, Air Canada, Air Seoul, Air France, etc. - have cancelled some or all routes to China, with some of the cancellations stretching out until late March. Most have cited a drop in demand as the reason as passenger plane traffic has plummeted. Russia has closed its border, Italy has cancelled flights to China, while the US and Japan have implemented the most urgent travel warnings advising citizens not to travel to China. Other governments, including the UK, have warned against travel to Hubei.</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%206.09.26%20AM.png?itok=SLIpGwkZ" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%206.09.26%20AM.png?itok=SLIpGwkZ"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.09.26%20AM.png?itok=mSqojKCs 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.09.26%20AM.png?itok=mSqojKCs 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.09.26%20AM.png?itok=mSqojKCs 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=mSqojKCs 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.09.26%20AM.png?itok=mSqojKCs 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Screen%20Shot%202020-01-31%20at%206.09.26%20AM.png?itok=SLIpGwkZ 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="e06ab6e6-473b-4e22-897a-db45df0533e2" data-responsive-image-style="inline_images" height="321" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202020-01-31%20at%206.09.26%20AM.png" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Singapore has also closed its borders to all Chinese travelers, becoming the first southeast Asian country to do so.</p>

<p>The number of cases and the death toll haven't budged from late Thursday in New York, <a href="https://www.zerohedge.com/geopolitical/6000-quarantined-italian-cruise-ship-due-virus-scare-russia-closes-border-china">when we filed our last update</a>. However, speculation about underreporting by the Chinese government has intensified in recent days. Though the total number of cases of the novel coroanvirus outbreak has already surpassed the total from the entire 2002-2003 SARS outbreak.</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%206.11.00%20AM.png?itok=Fk4CEu7S" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%206.11.00%20AM.png?itok=Fk4CEu7S"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.11.00%20AM.png?itok=3fsWlMkh 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.11.00%20AM.png?itok=3fsWlMkh 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.11.00%20AM.png?itok=3fsWlMkh 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=3fsWlMkh 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.11.00%20AM.png?itok=3fsWlMkh 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Screen%20Shot%202020-01-31%20at%206.11.00%20AM.png?itok=Fk4CEu7S 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="40ad4ac0-c15f-4601-9018-8a7ebaae1ab8" data-responsive-image-style="inline_images" height="383" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202020-01-31%20at%206.11.00%20AM.png" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Research suggesting (though not confirming) that the virus can spread asymptomatically - meaning that individuals are contagious before they're even aware they have contracted the virus.</p>

<p>Roughly half of Chinese will stay home from work next week, and indefinitely until the virus is contained, according to local officials. This is tantamount to two-thirds of the economy - the second-largest economy in the world - virtually guaranteeing that knock-on impact to global growth will be severe.</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/2020.01.31map.JPG?itok=ebNvphXB" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/2020.01.31map.JPG?itok=ebNvphXB"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2020.01.31map.JPG?itok=3rX3d4fG 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2020.01.31map.JPG?itok=3rX3d4fG 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2020.01.31map.JPG?itok=3rX3d4fG 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=3rX3d4fG 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2020.01.31map.JPG?itok=3rX3d4fG 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2020.01.31map.JPG?itok=ebNvphXB 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="fe0b4891-5ba7-452c-88f2-5358b9dce816" data-responsive-image-style="inline_images" height="241" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2020.01.31map.JPG" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Now to the big news on Friday: UK health officials have confirmed two cases of the virus in England. The victims are being treated at a hospital in Newcastle.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en" xml:lang="en" xml:lang="en">BREAKING: two cases of coronavirus being treated at Newcastle's infectious disease unit.<br />
New Gov advice: anyone coming back from China with respiratory symptoms should self isolate for 14 days.<br />
Anyone coming back from Wuhan, with symptoms or not, should self isolate for 14 days.</p>
— Kate Proctor (@Kate_M_Proctor) <a href="https://twitter.com/Kate_M_Proctor/status/1223194976441585664?ref_src=twsrc%5Etfw">January 31, 2020</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>As Beijing scrambles to contain the outbreak, the contagion has spread to all 31 of mainland China’s provinces, municipalities and autonomous regions, and at least 19 other countries or territories. After confirming its first cases on Thursday and cancelling all flights to China, Italy has declared a state of emergency to last six months.</p>

<p>Though officials are touting unexpectedly strong progress on their two slap-dash coronavirus hospitals - Huoshenshan and Leishenshan - being erected in Wuhan to house another 2,300 patients, Beijing has sent more than 7,000 medical workers to the province to help fight the disease. As of Thursday, the province had reported 5,806 confirmed cases, with 32,340 people still under observation for infection. A total of 804 patients were in severe condition and 290 in critical condition. Across China, there were more than 100,000 people under observation as of Friday morning, according to <a href="https://www.bloomberg.com/news/articles/2020-01-30/china-deaths-rise-to-212-who-declares-emergency-virus-update">Bloomberg</a>.</p>

<p>France is the latest country to complete a chartered evacuation flight has rescued dozens of citizens from virus-plagued Wuhan.</p>

<p>As mask shortages led to absurd price gouging, China is importing more than 56.228 million masks in the past week, according to the General Administration of Customs. Some 290 million yuan (US$41.8 million) worth of protective gear was imported between Jan. 24 and Jan. 30. That included the masks, 69,000 pairs of goggles, and 738,000 items of protective clothing, according to the <a href="https://www.scmp.com/news/china/society/article/3048320/china-coronavirus-deadly-day-hubei-record-high-42-patients-die">SCMP.</a></p>

<p>Shocking photos published by <a href="https://www.theguardian.com/world/live/2020/jan/31/coronavirus-live-updates-china-wuhan-death-toll-who-global-health-emergency-latest-news?page=with:block-5e34060b8f08e1332473a6b3#block-5e34060b8f08e1332473a6b3">the Guardian</a> that were allegedly smuggled out of Wuhan show nurses at a hospital making their own makeshift facemasks out of cloth.</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%206.29.28%20AM.png?itok=3m7Vw0Vx" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/Screen%20Shot%202020-01-31%20at%206.29.28%20AM.png?itok=3m7Vw0Vx"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.29.28%20AM.png?itok=DuEh5DZ1 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.29.28%20AM.png?itok=DuEh5DZ1 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.29.28%20AM.png?itok=DuEh5DZ1 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=DuEh5DZ1 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Screen%20Shot%202020-01-31%20at%206.29.28%20AM.png?itok=DuEh5DZ1 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Screen%20Shot%202020-01-31%20at%206.29.28%20AM.png?itok=3m7Vw0Vx 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="182f4e61-91df-49c5-9f7b-3088951c3fda" data-responsive-image-style="inline_images" height="359" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202020-01-31%20at%206.29.28%20AM.png" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Hong Kong schools have announced that they will remain closed until March 2. Many countries, including Vietnam and the US, have suspended some or all visa processing for Chinese citizens, or residents of Hubei.</p>

<p>Goldman said it expects the outbreak to wipe 0.4 percentage point off US GDP growth during Q1. However, the investment bank believes growth will rebound in Q2, and that the long-term impact would be negligible. Labor Secretary Wilbur Ross disagrees, arguing that the outbreak will help bring more jobs back to the US.</p>

<p>One thing's for sure: The total economic fallout will be difficult to gauge until we figure out how long it will take to implement a vaccine. If a vaccine really is a whole year away, that could become a problem.</p>
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<a href="https://www.zerohedge.com/users/tyler-durden">Tyler Durden</a>
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<span property="schema:dateCreated" content="2020-01-31T14:24:00+00:00" class="field field--name-created field--type-created field--label-hidden">Fri, 01/31/2020 - 09:24</span><img src="http://feeds.feedburner.com/~r/zerohedge/feed/~4/_ORiCwXEhIs" height="1" width="1" alt=""/>


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