The possibility of new coronavirus (COVID-19) outbreaks in China from domestic and international travel, as well as depressed global demand for Chinese goods due to the pandemic, are significant risks that may reverse the nation's progress toward economic normalization, the International Monetary Fund (IMF) said in a report on Friday
WASHINGTON (Pakistan Point News / Sputnik - 20th March, 2020) The possibility of new coronavirus (COVID-19) outbreaks in China from domestic and international travel, as well as depressed global demand for Chinese goods due to the pandemic, are significant risks that may reverse the nation's progress toward economic normalization, the International Monetary Fund (IMF) said in a report on Friday.
"While there are reassuring signs of economic normalization in China - most larger firms have reported reopening their doors and many local employees are back at their jobs - stark risks remain," the report said.
The risks include new infections as national and international travel resumes, the report said.
Even without a new outbreak, China also faces the risk of reduced orders for goods as the pandemic spreads, making consumers and businesses wary of Chinese products, the report said.
The IMF recommended that Chinese policymakers develop policies support growth and financial stability if needed - policies that would be most effective if coordinated internationally.
On Friday, China reported no new locally transmitted novel coronavirus cases for a second day, but it found 39 new cases imported from outside the country, according to media reports.
Globally, the virus has infected nearly 250,000 people in 163 nations, with two of every three victims outside of China, Johns Hopkins University reported on its global virus tracking website on Friday morning.
