Coronavirus impacts on economy explained well in 2021
The spread of the coronavirus has pushed the pause button on one of the world's biggest economic powerhouses we're coming on the air at this hour with breaking news there. Wall Street ending one of the worst weeks of trading since the financial crisis in 2008. We are starting to get to that point where those supply chains are gonna have massive disruptions when the world was first hit with SARS almost 20 years ago. It caused an economic blip mostly for China and its neighboring countries but at the time China's gross domestic product was only four percent of the global total and now stands at 16 percent making China the second-largest economy behind the USA. One major driver behind China's economic rise was its massive network of factories which churn out everything from t-shirts to mobile phones for consumers all over the world. Today China makes up a third of world manufacturing and is the world's largest exporter. Decades of globalization have created su