Wuhan China, – Emerging reports of the Coronavirus have estimated the number of infected to increase to 17,000 this week. This is more than triple the amount affected since last week. With multiple cities closed off and under quarantine, this has led many industries to take a hit; namely Shipping.
With Chinese cities such as Wuhan (which houses 11-million people) now under full quarantine, that means many of the goods that are exported from the city are put on hold. The virus has the potential to shave off .5% – 1% of China’s overall GDP. This can have relatively large-scale effects on the US transportation market. If the coronavirus spread further, then a greater impact will occur.
The Coronavirus has been affecting citizens across the country of China for the past 4-months. With many succumbing to the illness and with no known cure. The infection can be spread via airborne pathogens and has the out-of-body- life span of only a couple hours.
One of the largest variables for the spread of the virus has to do with the large-scale open food markets. These have been indicated as ground zero points for the outbreak. Issues are only exacerbated by the number of people coming in and out of the city. The city acts as a middle-ground between outlying cities. Wuhan acts as a large hub for many traveling in and out of China. On top of the standard issues that stem from an airborne virus in a densely populated city, but in terms of halting shipments to and from the area has also greatly impacted industries. Exports are expected to slow down due to the lack of products shipping out of Wuhan. Not only is Wuhan shut down, but the outlying cities are also putting a hold as to what goes out and what comes in.