- Chinese people all over the world are facing racism and xenophobia due to the fear caused by the coronavirus.
- Large companies are losing money because they need to close down their stores in China.
- The demand for oil has been lowering for the first time in 10 years due to factories closing because of the coronavirus spreading.
The sudden appearance of the coronavirus caught the world by surprise. Many factors are still unknown, and researchers are finding out new things about it every day. We still do not know the exact symptoms of the coronavirus, how fast it is spreading all over the world, and how it will eventually affect all of us.
However, its impact on several aspects of society can already be felt. This is especially true for China as here is where the coronavirus first appeared, but it's spreading beyond there. Some of the more unexpected ways that the virus has affected the world will be explained in this article.
10. Ban On Sale Of Certain Medications
Some fever and cough medications have been banned for sale in China. This was done to encourage people to go out and seek medical help if they feel like they might be affected by the coronavirus. Multiple pharmacies have banned the sale of those medications, while others have begun registering customers that buy them.
This could also influence the pharmaceutical industry in a way, because a large number of people aren't suffering from the coronavirus, yet they are also forbidden to buy medications. Considering the number of people living in China, this could prove to be more significant than it seems at first.
9. Many Events Are Being Postponed
A lot of events that hold international value are being held in China every year. However, due to the outbreak of the coronavirus, most of them are either postponed or canceled. For instance, the Shanghai Fashion Week, which was supposed to be held in late March, has been canceled by the organizers. The 2020 Chinese Grand Prix has been postponed as well, and that is an important event on the Formula One calendar.
8. The Political Climate Is Changing
The possible dangers that can be caused by the spreading of the coronavirus have affected the way people behave on multiple levels. While the regular citizens display their fear through xenophobia, there have been signs of the political relationship between China and the United States changing as well.
The White House reportedly does not trust the data about the coronavirus numbers that were released by the Chinese government. If this continues, who knows what the result of this kind of tension could be.
7. Cash Money Is Being Disinfected
As the number of people being affected by the virus increases, attention has been brought to cash and the possibility of the coronavirus being transmitted through it. Various things that get into contact with a large number of people have started to be disinfected.
Now, even banks in China have joined in on this by disinfecting cash to try to prevent the spreading of the virus. Banks are using ultraviolet light combined with high temperatures to disinfect it.
6. Adoption Is Impossible
There are stories of several families that planned to adopt children from China but are unable to because of the virus. The process of adoption was already well underway for a large number of cases, but it has been brought to a halt because the families aren't able to travel to meet the children.
Some of the children have already been adopted and required only to be transferred by the families that adopted them but are now stuck in orphanages in China, unable to leave. It is currently unknown when the adoptive parents will be able to meet the children, all because of the virus.
5. Flights To China Are Being Suspended
As many as 20 airlines have stopped flying to China since the news about the coronavirus broke out. Some of the largest airlines in the United States have suspended flights to China until April. This could prove to be a significant financial loss. The fact that the virus is still largely unknown to us is forcing large companies to make drastic moves like these.
4. Car Parts Shortage For The World
Multiple car manufacturing plants and part suppliers have closed down in China. Since China makes more cars than other countries in the world, the impact this could have is enormous. A lot of car manufacturers outside China source car parts from China, which will undoubtedly increase the effect. Many car plants have been closed since January, and it is unknown when they will reopen.
3. The Demand For Oil Is Lower
In the past ten years, there has never been a decline in the demand for oil in the world, until now. The coronavirus forced a large number of factories in China to close. Since oil is required to run those factories, which make up a large part of the world's economy, this will have an impact on the average global oil demand.
The data released by the International Energy Agency lets us know that this is the first decline in global oil demand in over a decade. It is hard to predict the consequences this will have, but one thing is for sure, the global economy will feel them.
2. Large Companies Are Losing Money
Numerous stores in China owned by large brands such as Nike, Versace, and Starbucks have been closed because of the coronavirus. Due to the danger of the virus spreading, the government has ordered mandatory lockdowns of many stores. Those stores that managed to stay open can only do business during specific times of the day and with a smaller number of customers.
One of the largest companies in the world, Apple, will see a drop in revenue for this quarter, due to not being able to make and sell the expected amount of devices in China.
1. Racism And Xenophobia Caused By Fear
There has been much false information about the coronavirus being reported by various media outlets. Some of those include articles that linked the appearance of the virus to the fact that Chinese people eat wild animals. These types of articles have perpetuated rumors about the virus, which, in effect, created an extremely xenophobic climate all over the world.
The xenophobia targets mostly Chinese and East Asian people, and it has become extremely problematic. A large number of Chinese restaurants outside China have seen a decline in visitor numbers due to this, with citizens in various countries openly avoiding Chinese people and exhibiting racist behavior.