The Coronavirus Outbreak Will Be Worse For The Global Economy Than SARS

CNBC: Coronavirus: The hit to the global economy will be worse than SARS

* The new coronavirus outbreak will be worse for the global economy than the 2003 SARS outbreak was, data analysis firm IHS Markit predicts.
* Since the SARS outbreak, China has grown from the world’s sixth-largest economy to the second biggest today.
* The longterm economic impact of the new coronavirus outbreak will be determined largely by China’s containment measures, the report says.

The new coronavirus outbreak will be worse for the global economy than the 2003 SARS epidemic was, data analysis firm IHS Markit predicts.

While both outbreaks originated in China, nearly two decades separate the SARS outbreak from the new coronavirus outbreak. In that time, China has grown from the world’s sixth-largest economy to the second biggest today behind the U.S. The country has been a main growth driver worldwide, with the International Monetary Fund estimating that China alone accounted for 39% of global economic expansion in 2019.

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