CORONAVIRUS: CHINA'S

NEIGHBOURS BRACE FOR

ECONOMIC IMPACT
By: Franz Khyle Hero L. Sobreviga.
WHAT IS THE
CORONAVIRU
S?
China’s coronavirus outbreak
will impact beef and cattle trade

One large Australian exporter told Beef Central

this morning that the disease episode could
impact beef trade to China on a number of
fronts:
Chinese citizens themselves were electing to avoid dining
out and non-essential travel, which could substantially
reduce beef demand
Transport restrictions between Chinese provinces and labour
limitations could limit ability to distribute beef across the
country.
Closest rival Japan ended the year on 287,495t, the Unites
States on 251,821t and Korea on 162,343t.
China having 300,000t.
 U.S. Oil Industry Is Already Suffering
From the Coronavirus
■ Just a few weeks after the outbreak of the virus, daily Chinese oil
demand is already down 20 percent because of dwindling air
travel, road transportation and manufacturing. Since China
consumes 13 of every 100 barrels of oil the world produces, every
oil company is being hit to some extent.

■ For producers in places like Iraq and Saudi Arabia, that kind of
price drop can mean a 10 percent loss in profits. But in the United
States, where the break-even price for the average oil well drilled
in shale fields is far higher at roughly $45 a barrel, some
producers could lose as much as 60 percent of their profits,
according to Michael Lynch, president of Strategic Energy and
Economic Research.
 WHAT
CORONAVIRU
S COULD
MEAN FOR
THE GLOBAL
ECONOMY.
THE END.