ASEAN- 2 Indicators to gauge the impact of COVID-19 vs SARS
South Eastern Asian economy will be hit harder by COVID-19 outbreak than by SARS in 2003 as China has more profound economic influence in the SE Asian market than ever.
Thailand is expected to be hit the hardest among all SE Asian countries. Thailand's exports and tourism, accounting for 65% and 20% of GDP respectively, are expected to soften due to the virus outbreak in China.
Prospect: Stock and forex market will decline due to the epidemic. In the long run, SE Asian market will regain its momentum as the epidemic will be brought to an end and Chinese demand will recover.
COVID-19 is also known as NCP in China
Coronavirus outbreak hinders recovery in the SE Asian market
Last year, SE Asia countries except Vietnam were soft under the impact of US-China trade war and a full-scale economic slowdown across the world. Foreign trade and inflation only recovered as trade war and other black swan events dwindled in December.