KUALA LUMPUR: It is too early to estimate the impact of the Wuhan coronavirus on Malaysia’s trade, said Deputy International Trade and Industry Minister Dr Ong Kian Ming (pix), as manufacturing activity in China during the Chinese New Year period is very low.
He said most of the factories in China are closed for a week or more for the festive season.
“Because of the importance of China in the global trade and economic value chain now compared to SARS (outbreak) in 2003, the effect would probably be bigger than 2003,“ he told a press conference after announcing Malaysia’s trade performance for 2019 here today.
As the coronavirus situation starts stabilising with more certainty in the next couple few weeks, he hopes to see a V-shape rebound by China and other countries that do business with China.
“We don’t need to be overly panicky about this. This is something that we’re monitoring closely in the context of our trading partners and the industries that do business with China,“ said Ong.
source https://www.thesundaily.my/business/miti-too-early-to-gauge-wuhan-coronavirus-impact-on-malaysian-trade-DK1963665
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