Coronavirus Impact on the Manufacturing Economy
The date I am writing this article is 17th February 2020 and the Coronavirus death toll has risen to over 7,500 people with almost 200,000 worldwide confirmed cases. The deadly virus has caused global disruption and fear – so much so that the majority of European countries are on Lockdown meaning that travel has almost come to a complete standstill. Will the growing outbreak cause permanent damage to the global economy?
What is happening in Wuhan?
Home to over 11 million people, the city is currently quarantined with very limited access to and from the city. Non-essential vehicles have been banned from the roads to prevent the spread of the virus. Many have stopped working which means that they are struggling to afford food; with the food prices being so high. However, after a community visit from President Xi, there are indications that life in Wuhan might be returning to normal with officials discussing the easing on restrictions which will mean freedom for some; stepping out of their homes for the first time in 50 days.
What is the situation with manufacturing in China?
At first most were concerned about manufacturing facilities being disrupted by COVID-19 in China, where the virus originated. Now, in the midst of a global pandemic, this is a much bigger issue than China. While some manufacturing operations are getting back up and running, much of the rest of the world is in distress.
The disruptions have caused an impact on the shipment of goods meaning that unfortunately there are delays to customer orders.
COVID-19 first emerged in Wuhan, China on Dec. 31. By the end of January, the region was sliding into isolation. Wuhan, a city of 11 million and the capital of central Hubei province, virtually went into lockdown, with nearly all flights at Wuhan’s airport cancelled and checkpoints blocking the main roads leading out of town.
The virus has since spread into the U.K, U.S., Canada, Italy, Spain, France, South Korea, Iran and Germany, among other countries. There have been more than 200,000 cases confirmed globally, and at least 7,500 deaths, according to the latest data from Johns Hopkins University and has been declared a pandemic by the World Health Organisation on the 11th of March.
For the first time since the novel coronavirus was first identified last year, there are now more reported cases outside of mainland China than inside, marking a new milestone in the evolution of the global pandemic.
What can I do to prevent catching the virus?
- Wash your hands often with antibacterial soap
- Avoid close contact with people who are sick
- Avoid touching your eyes, mouth and nose with unwashed hands
- Cover your coughs and sneezes with a clean tissue and then immediately discard it
- Regularly clean and disinfect frequently touched surfaces
- Self Isolate if you develop cold like symptoms
How does this impact you as our customer?
As a company, we are fully operational, and it is business as usual here at Ideal Power. All our employees can be reached either by phone or email and are fully equipped to provide you with our excellent service.
Many of our manufacturers in China who were previously affected have resumed operations. We have received several reports from factories advising that they are at around 80% capacity. Although this is positive news, please bear with us as we monitor the latest developments regarding shipment and air freight services that could affect your order. We are advising our customers that we are expecting delays extending to Mid-July for newly placed orders.
Although we are doing our utmost to meet our customers requests, we feel it’s our duty to forewarn you of probable delays in goods being delivered on time, that is why we are urging our customers to place orders at their earliest convenience to ensure that they receive the products in good time.We will keep monitoring the situation and update you on the latest information we have, but please bear with us while we work through the issue to get the products to you as soon as possible.