Sharechat Logo

China Vows to Support Market, U.S. Limits Flights

Monday 3rd February 2020

Text too small?

China’s central bank will inject more than $21 billion of liquidity in seeking to avert a potential sell-off from the coronavirus outbreak, and the U.S. is ready to redirect flights with passengers from China.

A Wuhan man died in the Philippines, the first from the virus outside China. A jump in fatalities and a surge in infections stoked fears of contagion.

Airlines in Asia, Europe and the Middle East stopped service to the mainland. A city 700 kilometers from the epicenter of the outbreak has quarantined 9 million residents.

U.S. flights carrying citizens who visited China will be redirected to one of seven international airports to be screened for possible coronavirus symptoms, part of new restrictions that take effect Sunday to stem the outbreak.

Flights will only land in Atlanta, Chicago, Honolulu, Los Angeles, New York, San Francisco and Seattle, the Department of Homeland Security said. Once on the ground, passengers will be subject to enhanced health screening.

Visitors to Hubei Province, the populous region where the outbreak began, may be quarantined for as long as 14 days, the agency said.

“We realize this could provide added stress and prolong travel times for some individuals,” DHS Acting Secretary Chad Wolf said. “However, public health and security experts agree these measures are necessary to contain the virus and protect the American people.”

If a traveler was in China, but outside Hubei Province, is re-routed and shows no symptoms after screening, they will be re-booked to their destination and asked to self-quarantine at home, DHS said.

The U.S. offered top public health experts to help China with the coronavirus outbreak, but so far Beijing hasn’t responded, National Security Adviser Robert O’Brien said Sunday.

“This is a worldwide concern -- we want to help our Chinese colleagues if we can,” O’Brien said on CBS, noting the Centers for Disease Control and Prevention and the National Institutes of Health are world-class organizations. “We’ve made the offer and we’ll see if they accept.”

So far, Chinese health officials are providing information and the U.S. is “taking that for what it’s worth, but at the same time we’re monitoring ourselves,” he said on “Face the Nation.”

One area that may feel the impact will be the international education industry. Australian Education Minister Dan Tehan estimated the global impact on the market could reach A$8 billion ($5.4 billion), the Sydney Morning Herald reported. About 200,000 Chinese students are due to study in Australia this year, the paper said, with many more attending schools and universities throughout the rest of the world.

(Bloomberg)



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar trends lower amid worrying coronavirus developments
Stocks Drop as U.S. Finds Case With Unknown Origin
Virus’s Spread Puts a Question Mark Over Tokyo Olympics
Stocks Fluctuate as Virus Fear Grips Wall Street
27th February 2020 Morning Report
NZ dollar falls; coronavirus spreads to more countries
Looking to $2,000 gold price: Coronavirus is the straw that broke the camel’s back
Hong Kong Stock Exchange Turns From Tough Year to Trading Boom
Treasury 10-Year Yield Tumbles to Record Low on Haven Demand
U.S. Stocks Plunge, Bonds Surge After CDC Warning

IRG See IRG research reports