Coronavirus: how will travel restrictions affect China's economy?
The World Health Organization has declared the virus an emergency for China. And it looks certain that this situation could eventually impact the world's economy, and many travel restrictions have already been put in place.
Wuhan, the city where the coronavirus started, is a massive transport hub which is now locked-down, as such businesses who transport goods or move people are facing huge problems with their industrial supply chains.
Furthermore, these travel restrictions are taking place at the busiest time of the year, Chinese New Year. This year, the Chinese were expected to make 3 billion trips throughout the country. At this stage, the domestic tourism economy is being severely affected.
The country's population is concerned and is taking this state of emergency very seriously with many taking the decision to cancel their travel or entertainment plans to avoid exposure to the disease.
January 31st: Brexit (is supposed) to happen
This Friday, The UK 'will' officially leave the EU with a withdrawal agreement. But this would only be the next step in what feels like a quasi-infinite Brexit process. From Friday, the UK will transition out of the EU until 31 December 2020. Until then the UK's trade agreement with the EU will remain the same and the two sides will continue to negotiate a free trade deal. There 'won't' be any form of extension to the transition period, meaning the UK has to act fast.
Other aspects of the UK's future relationship with the EU such as law enforcement, data sharing and security will need to be defined. In the event of a trade deal, the UK's new relationship with the EU can start right after the transition but if not, the UK will have to trade with no agreement. This would generate checks and tariffs on UK goods travelling to the EU.
To be continued... But Maddyness will make sure to keep feeding UK entrepreneurs and startup founders with regular updates on the Brexit situation, to be sure that you are aware of the implications and changes in procedures for trading with EU countries.
Meanwhile, Maddyness UK to attend Maddy Keynote in Paris
Maddyness will be reporting from France later this week as we attend Maddy Keynote. Now in its fifth edition, Maddy Keynote is taking place from Thursday 30th Januaryat CENTQUATRE. The theme for the 2-day event is Mutations, with internationally recognised key-note speakers looking at the big changes happening in society.
With over 10,000 attendees expected, Maddy Keynote is the most inspiring startup ecosystem meetup in France gathering entrepreneurs, investors, and journalists to help understand the important trends that are shaping our future.
Follow our adventure as we'll make sure to keep you posted on our social media!
