Hyundai Motor, the largest carmaker in South Korea, announced that by the end of the week, the entire production will be stopped in the home country. When exactly which production is exposed to line, may vary accordingly. Reason for the stop of the bands, the Absence of required for the production of cable harnesses, the Hyundai usually from China is.
The group is weighing its options in order to minimize the disruption of operations, said Hyundai. The search for “alternative suppliers in other regions belong”. Should this be successful, could be added to the production perhaps as early as next week, quoted by the Yonhap news Agency a company representative.
“Global Domino effect” feared
Overall, Hyundai operates seven factories in South Korea, in the world there are 20 works. In the past year, the car maker sold 4.4 million vehicles, about 1.8 million of them were in South Korea from the Band.
In China the city of Wuhan is a center of the automotive industry. Among other things, the French car manufacturers PSA and Renault have factories. Since in Wuhan, the outbreak of the novel Coronavirus first took place, is cordoned off, the city currently. Public life, and thus also the economic activities are paralyzed.
“the larger the distortions in China are, the more likely it is that other countries are affected,” said the chief analyst for emerging markets at the economic research firm Capital Economics, Neil Shearing. “As China supply chain to occupy many of the global a key position, is expected to have a global Domino effect.”
experts: there is No comparison to the Sars – Coronavirus have with “much greater impact”
The chief economist of French Bank Société Générale, Michala Marc said, China could lose because of the Coronavirus, a percent of its gross domestic product. This does not automatically mean a reduction in global economic output by 0.4 percent.
experts have warned that the situation with the Sars to compare the epidemic in the years 2002 and 2003. At the time, had recovered, the Chinese economy quickly. “China and the world economy are now interlinked much more closely,” said the chief economist at Italian Bank UniCredit, Erik Nielsen. An impairment of the production in China have in the world today is a much stronger effect. Maffay defended Merkel in the refugee crisis – and says what we now FOCUS Online Maffay need to do, Merkel defended the refugee crisis – and says what we now
frw/AFP need to do
