Just two months after the first case of COVID-19 was discovered in Wuhan, China, it has disrupted the lives of people around the world. Because the mechanism of COVID-19 has not been fully elucidated, it is unclear how long the epidemic will last, and it is difficult to estimate the extent of the resulting economic losses.

Because it occurred in China, known as the world’s factory, production of both parts and products has decreased, and companies around the world are in crisis. Compared to 2003, when SARS occurred, China’s role in the global economy has increased significantly, and according to Professor Warwick McKibbin, an economist at the Australian National University, global economic losses are estimated to be up to $160 billion.

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