Rio de Janeiro (People's Daily) -The novel coronavirus outbreak in China is only a temporary
difficulty, and China will find a solution, said Hsia Hua Sheng, Associate Professor of Finance at
São Paulo School of Business Administration.
"Even with this temporary difficulty, China is still one of the most competitive countries in the
world, " Hsia told People's Daily.
"On the one hand, we can see the effort and determination of the government into financial
services. For example, the Chinese central bank injected 1.7 trillion yuan ($244.12
billion) through reverse repos into the market earlier this week, demonstrating its determination to
stabilize market expectations and boost market confidence."
He added, "on the other hand, the collaboration of all the Chinese people to overcome this
temporary virus is very positive," noting that the creativity of China's skilled workers helps to
create a digital solution to combat the coronavirus with the Chinese government.
He said that the role of China in the global economy is very important. "The temporary slowdown
of Chinese consumption in and out of China (for example, tourism) will affect the GDP negatively
of major tourism oriented countries."
"This problem will also affect global production activities, like the automotive industry," said
Hsia, adding many multinational firms have to stop their production outside of China because of
the lack of components made in China as China has a huge relevance in the global supply chain.
 -The novel coronavirus outbreak in China is only a temporarydifficulty, and China will find a solution,){kind=link}