Economics
EM Review: Worst Month Since August as Coronavirus Spreads
- WHO declared emergency as U.S., Japan issued travel advisories
- China’s factories struggled even before the virus worsened
Photographer: Jenny Evans/Getty Images
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January was the worst month since August for emerging-market stocks and currencies and China’s offshore yuan weakened past 7 per dollar as investors fretted about the impact of the coronavirus on the global economy. The number of people infected by the illness soared as the World Health Organization called the spread a global health emergency. The U.S. and Japan advised their citizens to avoid travel to China. The Philippines reported the first death outside China.
The following is a roundup of news and highlights in developing economies for the week ending Feb. 3.