> The rest of it is mostly economic fallout from secondary effects like travel restrictions and large scale quarantines(like the chinese have done). Unless you're in the travel and hospitality industry..theres probably little impact at the moment?
Let's just talk about economic impacts.
Supply side:
- a substantial portion of goods sold at retail in the US have some part of their supply chain in China. This includes goods made in China as well as those made in the US with some inputs from China.
- a substantial number of people are employed in industries which sell retail goods that have a supply-chain dependency on China
- a substantial number of people are employed in the US logistics industries (shipping, trucking, warehousing, etc)
- China's economic output has been affected to the degree that their CO2 emissions are down 25% yoy [1]
- Maersk, the world's largest shipping company, has been cancelling sailings due to the shutdowns in China [2]
- firms will begin laying off employees in the above positions as the supply shock continues
Demand side:
- travel, hospitality, events, etc industries impacted
- a disease epidemic can cause a severe drop in consumer spending. China car purchases are down 92% [3]. Consider also the impact on restaurants, sports, entertainment, child care, etc. Some portion of this change in behavior will be "long term" from the perspective of the business cycle (ie: delaying major purchases into the following year, etc)
- firms will begin laying off employees in the above positions as the demand shock continues
Finally:
- consider that sustained, simultaneous supply and demand shocks may be hitting the world's economies in waves until this disease is mitigated
[1] https://www.carbonbrief.org/analysis-coronavirus-has-tempora...
[2] https://www.cnn.com/2020/02/20/business/maersk-earnings-coro...
[3] https://www.theguardian.com/business/2020/feb/21/china-car-s...