The market is optimistic that Beijing will handle the situation effectively and eradicate the disease soon.
According to Khalid Al-Khalil, who invests in the construction equipment manufacturing industry, media coverage that worsens China's current situation may also be intended to harm its economy.
The Coronavirus has had the greatest impact on transportation and shipping costs in Wuhan, the primary city in China affected by it.
Arab News reported that following the Chinese outbreak, some individuals are blaming the media for over-promotion, while others fear for their business prospects.
In the past, several epidemic diseases were effectively managed. Included is the mention of infectious diseases such as SARS and swine flu. He stated that the conflicts are economic in nature and designed to hinder China's economic progress.
Mohammad Fazlur Rehman, another businessman, commented on the situation, stating that the insufficient control of the Coronavirus could endanger our business. Businessmen from Saudi Arabia have canceled their trips to China, which is expected to slow progress in many areas of business.
The virus outbreak in China could lead to lower productivity targets due to the temporary displacement of industrial workers from their homes and workplaces.
Abdul Rahman, a Saudi businessman, stated that due to health concerns and a warning from his friends in China, he canceled his trip to China, which was planned for early February. If not treated, it can lead to significant damage.
Abdul Rahman al-Maliki expressed concern over the outbreak in Chinese cities while awaiting the arrival of porcelain, other goods, and sanitary products.
The halt or delay of trade has them concerned about a more complicated situation, which raises many concerns. In order to attract other markets, he stated that millions of rials would have to be sacrificed due to domestic needs.
The world's largest provider of life essentials is China. China's trade with Saudi Arabia exceeds $65 billion.
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