Hyundai suspending production in South Korea due to coronavirus

The Hill ^ | 2/4/2020 | Marty Johnson

[RightGeek]

Hyundai announced Tuesday that it is suspending production in its South Korea manufacturing plants due to supply chain problems caused by the coronavirus outbreak in China.

The world's fifth-largest automaker said in a statement that the suspension is a result of "disruptions in the supply of parts resulting from the coronavirus outbreak in China," The New York Times reports.

Hyundai has plants worldwide, but has been hampered by the fact that it gets many of its parts from China. Several plants in China that make the parts that the automaker needs have shut down because of the continued spread of the virus, which has killed more than 400 people, according to the Times.

The auto company told the Times via email that it was "reviewing various measures to minimize the disruption of its operations, including seeking alternative suppliers in other regions."

[RightGeek]

US stock market is way up today. Not sure why.

[Mr. K]

The Chinese production is shutting down- they will need to import a lot of stuff.

Exactly the opposite of what all the ‘experts’ were saying today (Kudlow specifically)

[Tijeras_Slim]

Probably because the market thinks it won’t be a dim in November.

[Heavyrunner]

So, they’re “Smart Park”ing their production?

[Rebelbase]

Dem fiasco in Iowa foretells Trump win in November.

[rb22982]

After last night, the market thinks its more likely Trump wins and likely takes back the house as well.

[BobL]

“US stock market is way up today. Not sure why.”

They believe the garbage that the Trump-haters in our government are telling them.

[BobL]

“Exactly the opposite of what all the ‘experts’ were saying today (Kudlow specifically)”

Definition of NORMALCY BIAS - he never considered the fact that China could just go away (for multiple reasons). So he isn’t able to process the fact that it’s happening right in front of his eyes now.

[hardspunned]

The long term effect of this will be to complete what Trump started, the decoupling of the US economy (and others) from China. The flight of manufacturing and investment from China to India, Indochina and USMCA will accelerate tremendously. The Chinese will be on their knees begging Trump “no mas, help” during Phase II negotiations.

[BobL]

Soon Japanese production will be impacted, and then, a bit later US production. So if you were thinking of buying a new car...you may want to make that move sooner than later!

[jmacusa]

Let the Chicoms suffer. They deserve it. Nothing but a nation of calculating thieving bastards.

[BobL]

“The long term effect of this will be to complete what Trump started, the decoupling of the US economy (and others) from China.”

I’ve been thinking the same - at a minimum, the IDIOTS in business and government will realize that no supply source is 100% certain, and they’ll actually plan for disruptions, at least a little bit.

[null and void]

Bring Out Your Dead

Post to me or FReep mail to be on/off the Bring Out Your Dead ping list.

The purpose of the “Bring Out Your Dead” ping list (formerly the “Ebola” ping list) is very early warning of emerging pandemics, as such it has a high false positive rate.

So far the false positive rate is 100%.

At some point we may well have a high mortality pandemic, and likely as not the “Bring Out Your Dead” threads will miss the beginning entirely.

*sigh* Such is life, and death...

If a quarantine saves just one child's life, it's worth it.

[hardspunned]

Kudlow acknowledged there would be an effect on first quarter GDP, I think he speculated a quarter point. He also said it would be more than made up in the second and third quarter. I think he’s right. The caronavirus will peak and pass.

[null and void]

Maybe I should change that to:

If a quarantine saves just one corporation's life, it's worth it.

[DoughtyOne]

502 points minutes ago...

Seems strange to me.

[xp38]

Invest in Magna International....Canadian auto parts giant.

[hardspunned]

I’m pretty sure there is enough unsold auto inventory to get us through any temporary disruption.

[BobL]

“I’m pretty sure there is enough unsold auto inventory to get us through any temporary disruption.”

For a few weeks, I’d agree - but when we get into months, which I think is more likely, not good.

[brownsfan]

“The long term effect of this will be to complete what Trump started, the decoupling of the US economy (and others) from China. ... “

A dramatic illustration explaining one of the many reasons it’s good to produce domestically.

I wish I could remember the screen names of those freepers that told me to go to the DU because I thought their version of free trade was killing us. (free traitors).