Understanding Covid-19 and the economic impact

Singapore government videos about the 2019-nCoV (Covid-19)

Infectious diseases physician, Dr. Leong Hoe Nam, on what we need to know about 2019-Coronavirus. Good for understanding Covid-19 and the economic impact.
Three videos are produced by Gov.sg where Dr. Leong Hoe Nam, an expert and practicing physician in Infectious Diseases gives his insights:

  • What we need to know about 2019-nCoV
  • Tips on protecting ourselves.
  • How it affects our daily routine

See: https://www.unscrambled.sg/2020/02/11/infectious-diseases-physician-dr-leong-hoe-nam-on-what-we-need-to-know-about-2019-coronavirus/

Infectious diseases physician, Dr Leong Hoe Nam, on what we need to know about 2019-Coronavirus

Highly recommended!

From other sources: How long does the coronavirus survive on a surface?
It is said that the coronavirus can survive only a very few hours on an object other than a living being and would die when dried up. Main transmission is still considered through coughing and body fluids from an infected person.

(source: Wechat posts)
Many persons however are not so sure… and many are “creative”… but also forget about their hands…

About the impact on industry and business

European businesses look to diversify operations outside China as coronavirus hits supply chains. China’s emergency measures to halt the spread of Covid-19 have put this year’s top-level summit with the EU at risk and risk disrupting the global supply chain, the European Union Chamber of Commerce in China has warned, reported the South China Morning Post.
Even though Chinese officials said they were working to resume production, foreign businesses’ operations have been seriously disrupted and may be forced to look elsewhere for supplies, the Chamber said.
The group warned that manufacturers were not able to run at full capacity because of shortages of supplies such as masks and logistical problems caused by restrictions on movement.
Joerg Wuttke, president of the chamber, said the outbreak had made many businesses realize they had to diversify into other countries and avoid “putting all their eggs in one basket”. He said that while the Chinese market was “always a lure… people have now woken up to the fact that you must have a backup plan.” He continued: “You must have a good eye on diversity. And the China story, the only story, possibly is over.”
(Source: China Economic Review)

Fewer than a third of China’s nearly 300 million migrant laborers have returned to work.
China is grappling with competing demands to fight the Covid-19 epidemic and get its economy back on track, as businesses struggle to resume operations amid a shortage of workers, disrupted supply chains and sluggish demand, reported Caixin.
Industrial indicators illustrate slow resumption of economic activities, although policymakers have called for companies to restart production since last week. From Thursday to Monday, coal consumption by six major power plants supplying power to key production sectors likely fell around 49% from the comparable period last year, economists with Nomura International (Hong Kong) said.
Official estimates suggest that China’s migrant workers will make a total of around 300 million trips to return to the places they work in after the holiday, but only about 80 million trips had been made as of Friday, Liu Xiaoming, a vice minister of transportation, said on Saturday at a press conference.
Another 120 million trips will likely be made by the end of February, he said. This means about one-third of the country’s migrant workers will still not have returned to work at the beginning of March.
(Source: China Economic Review)

HSBC, one of Hong Kong’s most important banks, said it would cut 35,000 jobs over the next three years, in part because of disruptions caused by the outbreak.
The bank is working to cut US$4.5 billion in costs as it faces headwinds that include the outbreak and months of political strife in Hong Kong, one of its most important markets.
It was the latest company to show the impact of the fast-moving coronavirus that has gripped China, another one being Apple. Although many companies are getting back to work after a weekslong hiatus, the economy has been slow to get back on its feet.
(Source New York Times)

Coronavirus is seriously disrupting logistics in the Belgian industry. That was the first result from an investigation by the technology platform Agoria, that has members such as Proximus, Volvo Cars Gent and Siemens.
(Source: Belgian media)

La Libre Eco with Belga (14 Feb 2020)
The article claims that 49,000 non-Chinese companies are facing problems due to the virus. It could have world-wide consequences according to Altares Dun & Bradstreet. Also some 5 million companies around the world depend on Chinese imports.
Source: https://www.lalibre.be/economie/conjoncture/coronavirus-pres-de-50-000-entreprises-etrangeres-actives-dans-les-regions-chinoises-touchees-5e46712cf20d5a642285eb72

The world could face a shortage of antibiotics if the pharmaceutical industry’s supply problems posed by the coronavirus outbreak in China cannot soon be resolved, the head of a European business group in China warned on Tuesday, reported Reuters.
EU Chamber of Commerce President Joerg Wuttke told a roundtable in Beijing that the synchronization of supplies in China was being hampered by the outbreak, also highlighting problems in the car industry, while inventories were surging.
He also noted that companies were running out of packaging material and faced challenges with regulatory uncertainties.
(Source Reuters)

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