Anxieties about the knock-on impact to the global economy from the coronavirus outbreak, which appears on track to shave whole percentage points off China’s GDP, have pushed stock futures back into the red Thursday morning.
But during an interview with Maria Bartiromo that aired on Thursday, Commerce Secretary Wilbur Ross argued that the North American economy might benefit from the outbreak as companies “reevaluate their supply chains” to factor in emergent outbreak risk.
While Ross insisted that he didn’t want to appear insensitive, it’s pretty clear to him that the outbreak could help “accelerate the return of jobs to North America.”
“First of all, every American’s heart has to go out to the victims of the coronavirus. I don’t want to talk about a victory lap over a very unfortunate very malignant disease. But the fact is, it does give business another thing to consider when they go through their review of their supply chain. On top of all the other things – you had SARS, you had the African swine virus there, now you have this – it’s another risk factor that people need to take into account.”
“I think it will help to accelerate the return of jobs to North America, some to the US and some to Mexico as well,” Ross said.
Watch the clip below:
Secretary Wilbur Ross says coronavirus will be good for [checks notes] American jobs: "I think it will help to accelerate the return of jobs to North America." pic.twitter.com/Y4SbDIcTi4
— Aaron Rupar (@atrupar) January 30, 2020
Bartiromo conceded that Ross had made an interesting point.
“Ah, that’s a good point,” Bartiromo responds.
While it might sound callous, we’ve heard this argument before: Remember when all the sell-side research departments advised that Hurricane Harvey would help boost GDP in the ensuing quarters?
Life, which you so nobly serve, comes from destruction, disorder, chaos…”
“Look at all these little things, so busy now”…just some food for thought.
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This guy thinks the US is immune to the virus outbreak.
He absolutely is immune from intellect.
Russia suggests three drugs already being used that would be effective to treat the coronavirus.
https://www.rt.com/russia/479581-russia-health-ministry-coronavirus-vaccine/
Russian cure: bullet.
I think crises like this are a lesson that all essential items should be made/grown in country. But he made it about jobs when it should be a protective measure. Just callous sounding when it should be a wake-up call.
https://www.forbes.com/sites/chasewithorn/2016/12/08/trump-and-his-commerce-secretary-wilbur-ross-a-look-at-25-years-of-connections/#2bd43829f820
At first glance I thought it was a Babylon Bee article.
ha ha ha … China is allowed to steal lab created virus. Virus then seeded outside of Wuhan lab making China think they accidentally released virus. China industry comes to a grinding halt due to mass quarantines . Western mfg makes a comeback not seen since post WWII… beginning to sound way more feasible.
Or is it a contrived pandemic?
Good marketing ploy too… ha ha ha ..vaccine is on the way. Get in line to receive your mandated vaccine which, BTW, Obama care does not ….baaaah.
I would not put it past evil thinkers.
Donkey- Me too, everything is a scam the sheep moment anymore. Ross is in the club and left a position in Cyprus doing laundry for the Russians (cough) to work in the Trump Administration. If there is a scam about, he would know all angles.
“Help Bring Jobs Back To America”
won’t happen. few americans remain to take any jobs.
Trump said he was going to bring our jobs back to Merika, don’t tell me a virus is going to be more effective.
The virus like all viruses can survive on surfaces as well as on/in human hosts. For items which are expedited from China in a week or less, this is a real concern. Especially food. I know I will be checking the items I purchase more carefully until this is over….