Briefly

Economist: Impact of disease limited

The effect of the disease caused by the novel coronavirus on the Chinese economy will be limited, said Khairy Tourk, a professor of economics with the Stuart School of Business of the Illinois Institute of Technology in Chicago."In the first quarter, there's definitely going to be some negative impact, but in the rest of the year, things would go back to normal,"Tourk said in a recent interview. Tourk also called for worldwide efforts to fight the disease. "Nothing spares cooperation among nations like emergencies that deal with questions of life and death," he said."A healthy China means a healthy world economy,"Tourk added.

Bridgewater bullish on investing in China

Hedge fund behemoth Bridgewater Associates recently released a strategic report that includes its outlook for markets and economies, stressing continued investment in China. The economies of the emerging world, especially emerging Asia, have greater potential for rising productivity, presenting unique and diversified investment opportunities and challenges, according to the report. The report added that three monetary and credit systems including the US dollar, the euro, and the renminbi are the driving force of a global economy that is now roughly balanced between developed and emerging countries, with increases in global output now coming more from emerging economies than from developed ones.

Auto sales decline by 18% in January

China reported sluggish sales of automobiles in January amid the novel coronavirus outbreak, industry data showed. The country sold a total of 1.94 million vehicles last month, down 18 percent year-on-year, according to the China Association of Automobile Manufacturers (CAAM).Meanwhile, vehicle output amounted to 1.78 million, declining 24.6 percent from the same period last year. Sales and production of passenger vehicles posted a year-on-year decrease of 20.2 percent and 27.6 percent, respectively. In January, new energy vehicle sales slumped 54.4 percent, while production dropped by 55.4 percent, CAAM said.