 | I've read quite a few publications about the Novel Corona Virus here on Steemit and I've noticed that most people share similar concerns. However, nobody seems to be wondering, if the current outbreak will impact our own businesses or our full-time jobs. |
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INTRODUCTION
So today, I would like to look at the current situation from a bit of a different angle; to change our perspective. And hopefully you, dear readers, can help me with that.
So, I would like to ask each one of you, to think if whatever-you-do for a living can be affected? Will this outbreak be a threat to your business ? Can you lose your job? Even if you're thousands of miles away from China?
Those questions have been bugging me for some time already. And the answer I have so far is not at all in my favor.
BLACK SWAN and economical "aftermatch" consequences
According to Moody's Analytics "Chinese Virus Could Be a ‘Black Swan Like No Other’". And it's hard not to agree.
Reading about Starbucks shutting down all their branches and also Apple Is Closing All of Its Stores and Corporate Offices in China Because of the Coronavirus Outbreak made me wonder, what could be the potential consequences for those of us, who rely on Chinese products and are collaborating with Chinese businesses.
And I only see dark clouds ahead
It has been very obvious that the world's second-largest economy has been under extreme pressure lately. Its economy has been slowing down and the tariff war with US isn't helping either. Many consider the current outbreak as a 'Straw that broke the camel's back'. And the pain we will all endure maybe a "once for our current generation" experience.
And trust me. I wish so badly to be wrong.
HOW WILL I BE AFFECTED?
Only some of you are aware, that I'm co-managing a small company - an online shop that sells laptop and phone accessories. All products are imported from China.
And there are millions of other small businesses across the globe, which are similar to ours. And since the Lunar New Year was coming - many of those businesses stocked up with products. Just enough to "go through" those few weeks.
However, right now local suppliers seem to share a similar concern: will chinese employees go back to work once their new year is over? Will factories be re-opened and running? Will shipping companies be operating as usual? So many questions - and received replies are not very optimistic.
All businesses relying on products MADE IN CHINA will most likely soon struggle with lack of supplies. Everyday of this virus is damaging our world supply chain more than we can imagine. And Im afraid that this is the time to ask myself a few questions:
*is my job threatened? may I become jobless soon? Will my business fail? How can I prevent that from happening? *
CHINA CENTRAL BANK TO THE RESCUE?
China's central bank has announced that it will inject 1.2 trillion yuan ($173bn) into the economy to help deal with the outbreak of coronavirus.
Link: https://www.france24.com/en/20200202-chinese-central-bank-to-pump-173-bln-into-economy-in-virus-fight
And there you go! Would you, dear reader, consider it a sensible solution? Print more money and pump them into the system? I personally am failing to see how that could that make things better. How could that help to solve the current problem? It seems that Central Banks in the current age are trying to solve every problem doing always the same: printing more money.
Where is it going to take us?
SHARE YOUR OPINION
Please resteem, drop valuable comment (I read them all) and let me know what do you think about this particular issue.
Yours, Piotr
How badly can the worldwide chain of supply be affected? Especially if the current situation will last another month or more?
Will prices of all items MADE IN CHINA go up in upcoming weeks? Will warehouses all over the world become empty soon?
Is your job depending in any way on Chinese economy and supplies coming from this country? Would you consider your job being threatened?