International Mgmt Management Essay Research Paper

International Management
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International Management
The economic damage of coronavirus is mounting not only China but also the entire world. Businesses have incurred losses of revenue, as it disrupts supply connections due to factory closings with many people in the lockdown and other countries, such as the United States extending travel restrictions. China is the second-largest world’s marketplace and leading trading country, and therefore, economic disruption because of coronavirus menaces in the international markets (Huang et al., 2020). For example, falling in oil demand is a significant threat to the International Energy Agency due to a drop in oil demand. China is the most importer of oil over the last decade from the Middle East countries. A decrease in need of oil by Chinese markets causes excessive losses of revenue to the Middle East regions.
Coronavirus has disrupted commerce. The shortage of products and other parts affects many companies around the world. Many companies delay the opening after Lunar New Year due to workers staying at home to help in the reduction spread of the virus. For instance, Foxconn, that is Apple manufacturing partner in China, faces production delays. Nissan and Hyundai carmaker companies have closed because of the lack of vehicle parts. Japanese automakers like Nissan and Toyota have been affected because their output has been disrupted in both China and Japan. A pharmaceutical company has experienced a disruption of its global production, leading to huge losses (Pendell, Lusk, Marsh, Coble & Szmania, 2014). Besides, the virus has led to cancellation and postponing of sporting events and trade shows in China and Asia. The pharmaceutical industry has also been affected its global production has been disrupted. Additionally, sporting and trade activities across Asia and Chin...