/biz/ - Business & Finance

>So far, only scattered cases of the coronavirus have appeared in Europe, but the economic effects are proving harder to quarantine. The shock may be severe enough to push the vulnerable German economy, and perhaps the entire eurozone, into a recession.

>That is the conclusion of a growing number of economists as it becomes clear that it will take weeks, at best, before the Chinese economy resumes its role as a prolific exporter of essential factory goods, and as an increasingly important consumer market for the rest of the world.

>“The longer it takes for production to resume, the higher the risks,” said Jörg Krämer, chief economist at Commerzbank in Frankfurt.

>For the chief executive of Daimler, one of Germany’s most prominent companies with several auto plants in China, the crisis is one of uncertainty.
“I’m calling China every day,” Ola Källenius said at a news conference in Stuttgart on Tuesday. “It’s too early to say if and how other factories could be affected. We are talking about global networks.”