Economic Impacts – Coronavirus
MWC 2020: Smartphone showcase cancelled over coronavirus fears (BBC)
The GSM Association has confirmed that the world's largest mobile phone showcase, Mobile World Congress (MWC), has been cancelled over a growing number of high-profile exhibitors such as BT, Facebook, LG, Nokia, Sony and Vodafone pulling out of the annual event due to coronavirus concerns.
The event was due to be held in Barcelona on 24-27 February and is usually attended by 100,000+ people, c. 6,000 of which travel from China.
87% of US businesses in China expect coronavirus to impact revenue (Supplychain dive)
According to the American Chamber of Commerce in Shanghai, 87% of US companies operating in China expect coronavirus to impact 2020 revenues, with 24% expecting it to fall by 16% or more.
Meanwhile, a survey conducted a few weeks ago by the Massachusetts Institute of Technology Center for Transportation and Logistics reported few respondents anticipated a major disruption in the next quarter, indicating the speed at which disruption and concern are spreading.
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