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Economy

How China's virus-fueled slowdown will transmit across Asia

Every country in the region will be hit -- in different ways

People wear masks at a main shopping area as the country is hit by an outbreak of the new coronavirus in downtown Shanghai, China on Feb. 21.   © Reuters

JAKARTA -- Policymakers across Asia are grappling with a huge question: What will be the impact of China's novel coronavirus-fueled slowdown be on their country's economy?

To put China's clout into perspective, its economy now accounts for 16% of global gross domestic product -- four times larger than in 2003, during peak of the SARS epidemic. The nation's demand for coal and oil underpin global prices, while 150 million Chinese tourists traveled abroad in 2018. The vast nation remains the world's manufacturing hub.

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