Myanmar, ASEAN countries to suffer negative economic fallout from the coronavirus

Myanmar, ASEAN countries to suffer negative economic fallout from the coronavirus.

The ASEAN+3 Macroeconomic Research Office (AMRO), a regional macroeconomic surveillance organization has forecasted the economic cost of 2019 Novel Corona Virus (now called COVID-19) will see China’s GDP drop by 0.5 per cent and ASEAN by 0.2 per cent during the current year.

Based on its modeling exercise and past evidence of impact of SARS, AMRO predicts that slow down in China could affect ASEAN economies in terms of a dip in their growth rates. The possible channels of slow down could be, through a drop in outbound travel and tourism from China, reduction in intra-regional tourism, decline in China’s imports from the region and the spread of disease in the other countries of the region.  

http://www.mizzima.com/article/myanmar-asean-countries-suffer-negative-economic-fallout-coronavirus