Coronavirus Outbreak’s Silver Lining for the US? - Forex News by FX Leaders
Coronavirus Outbreak's Silver Lining for the US?

Coronavirus Outbreak’s Silver Lining for the US?

Posted Tuesday, February 4, 2020 by
Arslan Butt • 1 min read

In a recent interview with Fox Business News, US Commerce Secretary Wilbur Ross stated that the coronavirus outbreak could offer a silver lining for the US economy. According to Ross, the outbreak could cause businesses to question moving their business to China and possibly aid in bringing back jobs to North America.

Looks like a desperate attempt to put a positive spin on a virus that has infected more than 20,000 people around the world and caused more than 400 deaths so far. Ross believed that the coronavirus would be a risk factor that could impede businesses from relocating their supply chain to China, which has since shut down several regions for an extended period of time in a bid to contain the spread of the virus.

Meanwhile, China has already hit back, accusing the US of causing panic even as it attempts to fight towards containing the virus. This is in response to the US declaring a public health emergency and denying entry to foreigners who had recently traveled to China, even though the WHO has deemed travel restrictions unnecessary.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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