Economics
Virus Shuts Down Economy the Size of Sweden for Third Week
- Shutdown causing wide disruption, from carmakers to catering
- Virus impact to add to Hubei’s slow revenue growth, high debt
Source: Getty Images
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China’s Hubei province is now in the third week of a shutdown triggered by the virus that has killed hundreds of people -- and halted an industrial powerhouse the size of Sweden.
Every day of closure deepens the disruption to the nation’s economy, and indeed the world. China’s largest producer of phosphorus, used in fertilizer, is there, and it’s also at the heart of the country’s auto industry with local carmakers like Dongfeng Motor Group Co. and global titans such as PSA Group and Honda Motor Co. making vehicles and components.