Étiqueté : Shaowen Luo

Figure 6: Global Impact Illustration. Unit is in percentage point decrease. China is in orange and has a reduction of 4%. Light grey color: not included due to lack of data. © Luo, Shaowen and Tsang, Kwok Ping. 0

China and World Output Impact of the Hubei Lockdown During the Coronavirus Outbreak

Using a network approach, we estimate the output loss due to the lockdown of the Hubei province triggered by the coronavirus disease (COVID-19). Based on our most conservative estimate, China suffers about 4% loss of output from labor loss, and global output drops by 1% due to the economic contraction in China. About 40% of the impact is indirect, coming from spillovers through the supply chain inside and outside China.

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