Unfounded and largely racist fears surrounding the coronavirus are hurting Chinese businesses nationwide, with estimated revenues down as much as 60%
Peter Tu’s daily coffee run in Flushing, NY, is quite different from what it used to be. Having served as executive director of the Flushing Chinese Business Association for the past 12 years, he has spent many mornings being greeted with smiles and pleasantries from thriving local business owners. Coronavirus has changed that.
Unfounded and largely racist fears are the culprit. An estimated 1,000 tables have been canceled at restaurants in Manhattan’s Chinatown neighborhood since the beginning of the outbreak. Gregg Bishop, New York City commissioner for the Department of Small Business Services, toldthat the city’s nine Chinatowns have seen revenues drop by 40% to 60%, figures previously reported by CNBC, despite there not being any confirmed cases in New York .
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