Coronavirus could be ‘death blow’ for many of China’s small manufacturers if not under control by April
- The impact of the outbreak adds to rising costs and trade war uncertainty for many Chinese businesses
- Manufacturers fear foreign customers will shift orders to other countries if the situation is not brought under control by April
Concerns among small and medium-sized manufacturers in China over the impact of the coronavirus outbreak have risen sharply, with many worrying about going bust if the situation is not brought under control soon.
“Foreign customers will definitely wait and see how the epidemic situation develops and may place new orders in other regions, instead of China,” said Tom Wang, who runs a footwear factory in the city of Dongguan in Guangdong province.
Foreign customers will definitely wait and see how the epidemic situation develops and may place new orders in other regions, instead of China
The rapidly spreading virus, which has killed at least 304 people and infected more than 14,000 in mainland China, has prompted authorities to close factories, shopping malls and tourist attractions, as well as put severe curbs on transport. Several governments have extended the Lunar New Year holiday, ordering firms not to reopen until at least February 10.