Coronavirus and its impact
The Novel Coronavirus has reached a peak and has infected more than 2 million people globally.
But in China, problems larger than Covid-19 are shaping up. News just came that a few states in USA are suing China over the deadly virus. Japan is paying companies to come home from the other countries, and companies like Samsung and Apple are moving factories out of China and into India.
That’s it for the headlines. Let’s delve a little deeper into each story, and how bad it currently looks for the communists up north.
China is getting sued by the states of Mississippi and Missouri, allegedly ‘not handling the situation well’. The states say that the communist party of China knowingly allowed travel in and out of Wuhan. Also part of the lawsuit was the accusation of arresting whistle-blowers, withholding information and denying that the virus was contagious. Missouri Attorney General Eric Schmitt accuses China of the deaths and job losses in their state.
In other news, the Japanese government has created an ‘economic stimulus package’ worth 220 billion yen ($2.2 billion) to give incentive to companies to get them back home. They offered the amounts to companies based out of China, where the Coronavirus has completely disturbed the supply chain. It allocated 220 billion yen for companies to move back to Japan and gave 23.5 billion yen to move factories to other countries. This could be really bad for China, in terms of unemployment and economic status.
Japanese companies may be going back to Japan, but even other, non-Japanese companies have turned their back on China.
Apple, Microsoft and more are merrily walking out of China. Samsung has decided to open factories in India and Vietnam, like rats deserting a sinking ship. And it’s true, China doesn’t have any more worth in people’s eyes these days than an actual sinking ship.
Thank you for reading, folks.
Originally published at https://ikidyounot.in on April 27, 2020.