GREENSBORO, N.C. — The coronavirus is quickly spreading in China and the U.S. government is making sure Americans are getting out of the country as quickly as possible. Still, health officials say the risk of an American getting the virus here is low.
The Four 2 Five invited UNCG Economics Professor, Martin Andersen, to the table to talk about the impact the outbreak could have on the economy.
Andersen says in the past outbreaks have had relatively short-lived consequences on the economy. But, he says the U.S. economy and the Chinese economy are more closely linked now and effects in China could spill over into our economy.
He points out that the unemployment rate, GDP growth and imports and exports from China are used as indicators to see if the economy is taking a turn.
The average American consumer shouldn't see a big impact on their wallet because of the coronavirus but if they do, it will most likely be a price increase on Chinese goods. Andersen says your retirement money is safe.