MGA Entertainment CEO Isaac Larian has expressed grave concerns over the impact of the novel coronavirus (Covid-19) on the toy industry.
Similar to many toy businesses, MGA has staff that operate out of Hong Kong and manufactures products in Mainland China.
Larian has monitored the developing situation and said that Covid-19 will impact the global economy.
"The world is on the verge of a major worldwide humanitarian crisis.
"The coronavirus is not solely China’s problem – the spread of the virus and the implications of the virus will impact more than those who have been or will be afflicted by it – it will impact the global economy.
"People who live in China and Hong Kong don’t have masks and medicine that they desperately need in order to combat the proliferation of this virus.
"MGA airlifted 6,000 masks and anti-viral treatments and sent to our MGAE Hong Kong and China employees. We will provide additional support.
"This crisis will bring the biggest recession to ever hit the world economy if it is not dealt with now.
"It’s time that we all put our differences and nationalism aside and combat this monster that is threatening humanity," he said.
Further expressing his concern on LinkedIn, Larian encouraged other toy businesses to support China.
"China is the factory of the world – not just toys – they make everything. Those who think that production can be moved to other countries (including USA) are not in touch with reality.
"MGA is airlifting surgical masks and anti viral medicines for its employees in HK and China now.
"I ask and encourage all other toy companies to please do the same. Please share to your network. Please speak up," he posted.
To date there are 43,103 confirmed cases across the world of Covid-19 acccording to the World Health Organisation.