Coronavirus outbreak in China could be positive for the American economy – US Commerce Secretary’s statement stirs controversy
The US Secretary of Commerce Wilbur Ross faces criticism on his remarks over deadly coronavirus outbreak
The US Secretary of Commerce Wilbur Ross has said that the deadly corona virus spreading in China could be positive for the US economy.
While speaking to a TV Channel Ross said, “I think it will help to accelerate the return of jobs to North America”.
The rapid spread of the virus has raised concerns about China’s economy and its impact on global development.
The statement of Wilbur Ross has drawn sharp criticism from critics of the Trump administration.
In response to the question of whether the outbreak could pose a threat to the US economy, Wilbur Russo said, “I don’t want to talk about success on a very unfortunate and deadly disease.”
Ross further said, “The fact is that it has provided another thing for businesses to revisit their supply chain … So I think it will help accelerate the return of jobs in North America.”
Later, the US Department of Commerce cited his statement, “As Secretary Ross has said, the first step is to control the virus and help those affected.”
A spokesperson of the US Department of Commerce said, “It is important to consider the effectiveness of a business with a country that has a long history of preventing risks to its people and the world,”
The statement by Wilbur Ross has been widely criticized. Congressman Don Beyer, a member of the Democrat Party, raised questions on social networking website Twitter talking about business benefits during a deadly outbreak.
Wilbur Ross’ reaction to a disease killing hundreds is to talk about ways to make money off it. Somehow they always find a way to be worse. https://t.co/gKueJfacaa
— Rep. Don Beyer (@RepDonBeyer) January 30, 2020
Economists have also raised questions over Wilbur Ross’s statement. Simon Baptist from The Economist Intelligence Unit, a British company in Singapore, told the BBC that he found the statement “very strange.”
Beyer said, “Companies are not making serious and long-term investment decisions based on an outbreak of disease, which may only last for three to six months.”
Harm the United States
The Congressman emphasized that the virus would harm the United States rather than a positive one.
“Despite everything, the United States is, in fact, a loser, China is still a big market for the United States so if China’s economy declines, and it will shock the US as well,” Beyer said.
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