Vicious Virus
02/19/2020 |
The Chinese COVID-19 virus will hurt US GDP four ways. First, Chinese tourists will not be arriving nor will they be spending money here. Second, US manufacturers dependent on China for critical raw materials and parts may soon have to close assembly lines. Third, imports from the US will sag. Fourth, the US dollar has risen as investors seek a financial haven, which hurts US exports. Time is the enemy.