October 22, 2020

Wilbur Ross says Coronavirus could boost US jobs

US commerce secretary Wilbur Ross has said the deadly coronavirus outbreak in China could be positive for the American economy.

During a TV interview Mr Ross said: “I think it will help to accelerate the return of jobs to North America”.

The rapid spread of the disease has raised fears about its impact on the Chinese economy and global growth.

The comments have come under fire from critics of President Trump’s administration.

In response to a question on Fox Business News about whether the outbreak is a risk to the US economy Mr Ross said: “I don’t want to talk about a victory lap over a very unfortunate, very malignant disease.”

“The fact is, it does give business yet another thing to consider when they go through their review of their supply chain… So I think it will help to accelerate the return of jobs to North America,” he went on to say.

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Later the US Commerce Department echoed his comments: “As Secretary Ross made clear the first step is to bring the virus under control and help the victims of this disease.”

“It is also important to consider the ramifications of doing business with a country that has a long history of covering up real risks to its own people and the rest of the world,” a spokesperson said.

The remarks have been heavily criticised, with Democrat congressman Don Beyer taking to Twitter to question finding business advantages during the deadly outbreak.

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.”

Economists have also queried Mr Ross’s comments. Simon Baptist from the Economist Intelligence Unit in Singapore told the BBC that the comments struck him as “weird”.

“Companies are not going to make serious and long-term investment decisions on the basis of an outbreak of a disease that might last three to six months,” he said.

He argued that the virus is more likely to have a negative impact on America rather than a positive one: “In fact, the US is going to be a net loser because despite everything, China is still a big market for the US, so if the Chinese economy slows significantly that’s going to have a blowback effect on the US as well.”

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