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China’s tourism, automotive industries sink amid COVID-19 outbreak

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China’s extraordinary economic growth over the past four decades transformed the country into the world’s second-biggest economy.

The key to this growth is global trade. China is not only the largest trading partner in the world, but it is also central to a myriad of supply chains. From raw materials to components used in electronics, Chinese companies work hard to provide Western brands with inexpensive building blocks for their next expensive product, be it a car, a smartphone or some other widget. (Apple












AAPL, -1.83%










 said Feb. 17 it won’t meet its quarterly financial guidance. It generates about 15% of its revenue from China, and many of its products are manufactured there.)

The Wuhan coronavirus (now…



Source marketwatch.com

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