The novel coronavirus is putting the global supply chain under test.
To see the novel coronavirus’s impact on global enterprises, look at Apple. This American technology giant is highly dependent on
The mainland makes parts and assembles products for them. Normally, about 50 Apple executives take United Airlines Flights to and from California and China every day.
But now it’s different. United Airlines and other airlines have suspended flights to and from China. Foxconn, which makes most of the world’s iPhones in China, has been unable to get assembly plants back to full capacity since last week, due to a shortage of workers. Analysts estimate the new coronavirus could reduce iPhone shipments by 5% to 10% in the quarter, and could derail plans to expand the production of the best-selling product, airpods. With the spread of the new coronavirus, the impact of the epidemic on business is also expanding. The number of tourists in and out of mainland China is huge.
Fall. By the end of March, about 400000 Chinese tourists are expected to cancel their trips to Japan. A large cruise ship in Asia was refused by five countries and regions due to several – t passengers infected with the virus. Singapore air show made about $250 million for the city-state in 2018, but 70 companies, including Lockheed Martin, cancelled the show this year, and revenues from last week’s show fell sharply. The Mobile World Congress was scheduled to be held in Barcelona this month, but it was cancelled after Vodafone, BT, Facebook and Amazon withdrew. It is increasingly clear that the new coronavirus may damage the global supply chain and cause great losses to the global economy.