Augsburg’s Professor of Economics Jeanne Boeh talks to WCCO about the economic impact of the Coronavirus outbreak in China.
Parts of Apple’s products are made in China, where many of the employees aren’t at work because of the outbreak, and that pushes back the production schedule.
“Companies are already ramping up for next Christmas. And some of those prototypes and those kinds of things happen in China right now, and so if those don’t happen, that pushes back the schedule all the way until next Christmas,” Boeh told WCCO. “Many workers in China are going without a paycheck right now, which will affect how much money they spend.”