Given China's economic heft and position in the nexus of global supply chains, the new strain of coronavirus is affecting companies from far and wide in multiple sectors.
Paris department stores, a de rigueur stop for Chinese tour groups, are unusually quiet. So are casinos in Macau. Disney has shuttered its theme parks in Shanghai and Hong Kong. The move could affect global supply chains for tech companies that rely on Foxconn to manufacture everything from Apple's iPhones to flat-screen TVs and laptops.
General Motors, Fiat Chrysler and Ford Motor have travel restrictions in place for their staff. Some, such as Nissan, have been evacuating staff from Wuhan. PSA, Renault and Honda all say they are monitoring the situation closely. Other brands such as Pizza Hut and KFC are also suffering closures in Hubei province imposed by their Chinese parent company.- Others -In one extraordinary development, 43,000 workers at a Chinese-controlled nickel mining site on the Indonesian island of Sulawesi have been quarantined.
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Source: The Straits Times - 🏆 8. / 63 Read more »