The "Detroit of China" Will Be Disrupted in 3 Weeks
Updated: Feb 3, 2020
Global Supply Chains from Wuhan, "The Detroit of China", will be disrupted in 3 Weeks.
The economic impact of SARS was about a 1 percent reduction of China’s 2003 GDP, but that was during a period of double-digit economic growth. IHS Markit pre-coronavirus estimate for 2020 economic growth was only 5.8 percent.
Mainland China’s impact on the world economy is also much larger now than during the SARS outbreak when it was the sixth largest economy in the world, and only accounted for 4.2 percent of world GDP.
China’s economy is now the second largest in the world, which accounts for 16.3 percent of world GDP and 10.4 percent of the world’s goods imports versus 4.0 percent in 2002.