Will Coronavirus boost American economy? US Secretary of Commerce believes so

The comment has been gaining a wide range of criticism

The US commerce secretary Wilbur Ross said that the deadly outbreak in China could be positive for the North American economy. During an interview, Ross said that the present situation in China can lead to the acceleration of the return of jobs.

The comment has garnered several criticisms, asking for the reasoning behind the statement. Fox News posed the question about if the US economy would be affected by the virus outbreak to which Ross replied, "I don't want to talk about a victory lap over a very unfortunate, very malignant disease."

Ross continued by saying, "The fact is, it does give business yet another thing to consider when they go through their review of their supply chain... So I think it will help to accelerate the return of jobs to North America."

Making money out of the disease?

Wilbur Ross
Wilbur Ross, US Commerce Secretary Wikimedia Commons

The wide criticism about the Secretary's comments led to the US Commerce Department talking about the context under which Ross mentioned about the rise in the jobs. The department said that the first step that the Secretary mentioned was to make sure that the virus is under control. The spokesperson also mentioned about China being a closed-off nation, who covers up the situation that can have ramifications to its citizens and to the rest of the world.

But, Twitter has continued to question the meaning behind Ross's words, including the comment about a probable business advantage during harsh times. Several economists and analysts continue to address the comment as weird and out of place.

The virus has led to the fear in not only the travel industry but among the tech giants and food chains that have a stronghold in China. It is said that there will be a wider impact on the market during the new virus because the world's geopolitical situation has changed since the SARS outbreak. This means that several of the companies have off-shore factories and other businesses in China that can be impacted because of the virus.

Related topics : Coronavirus